Chairman Johnson to Address
Treasury Conference on Unbanked
November 15, 2006, Alexandria, VA – National Credit Union Administration (NCUA) Chairman JoAnn Johnson will serve as a Featured Speaker at the Regional Conference on Reaching Unbanked People, scheduled for Monday, December 4, in Edinburg, Texas at the University of Texas - Pan American.
Chairman Johnson will join officials from the government, including U.S. Treasurer Anna Escobedo Cabral, as well as private sector officials, to discuss innovative ways financial institutions can serve the unbanked. The conference will also feature expert panelists and will provide a forum to discuss issues affecting the unbanked, including:
- remittances and reaching the unbanked;
- innovative products and strategies for reaching the unbanked;
- asset building;
- financial education; and
- reaching the unbanked youth.
“There are over 10 million families living in America that have little or no experience with traditional financial institutions, “said Chairman Johnson. “The vast majority of our unbanked population lacks the basic understanding and the tools necessary to manage and save money. Promoting the financial education of the unbanked will not only help millions enter the financial mainstream, but will also strengthen our society as a whole. I am very proud of the progress credit unions have made in this area, but there is considerably more work to be done. While financial education is an excellent starting point, I encourage credit unions to seek opportunities to reach the unbanked by offering much needed check cashing and money transfer services and exploring resources available through NCUA, including technical assistance grants.”
The one day Conference is free and lunch is included. Credit union officials in the region are encouraged to attend. Chairman Johnson will be hosting a breakfast before the Conference for all credit union officials attending. For questions and to R.S.V.P., please feel free to email the Department of Treasury at FLECSTRATEGY@do.treas.gov
The event is the second of four regional conferences organized in conjunction with this year’s launch of The National Strategy for Financial Literacy adapted by the Financial Literacy and Education Commission (FLEC). Chairman Johnson serves on the FLEC, which was created by Congress in 2003, comprised of 20 federal agencies, and headed by the Treasury Department. The National Strategy is a blueprint for improving Americans’ understanding of issues like homeownership, credit management and retirement savings. The Commission introduced the website (www.MyMoney.gov) and toll-free hotline (1-888-My Money) which highlights federal resources on a wide range of personal finance topics. Chairman Johnson was recently selected by the Treasury Department to lead the MyMoney.Gov website.
The National Credit Union Administration is the independent federal agency that charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates the National Credit Union Share Insurance Fund (NCUSIF), insuring the savings of nearly 85 million account holders in all federal credit unions and many state-chartered credit unions. NCUA operations are funded by credit unions, not tax dollars.
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