Feb. 16 Conversation on #NCUAChat Will Discuss Savings Strategies
ALEXANDRIA, Va. (Feb. 10, 2016) – Credit unions and their members can share ideas on saving money and building financial security during the National Credit Union Administration’s live Twitter chat on Tuesday, Feb. 16, beginning at 11 a.m. Eastern.
Credit unions and consumers can follow @MyCUgov and join the conversation using the #NCUAChat hashtag on Twitter. Participants can submit questions in advance to firstname.lastname@example.org.
Kenneth Worthey, Financial Literacy and Outreach Analyst with NCUA’s Office of Consumer Protection, will be joined by staff from the Consumer Federation of America to discuss national savings rates, provide tips on developing healthy savings habits and identify resources to help maximize your savings.
The Twitter chat precedes America Saves and Military Saves Week, which both run Feb. 22–27. NCUA has online information about America Saves and Military Saves Week to help credit unions plan. Additional resources are available on NCUA’s consumer website, MyCreditUnion.gov, and the agency’s financial literacy site, Pocket Cents, including more information about saving, borrowing and managing credit. NCUA’s consumer Twitter feed, @MyCUgov, also offers personal finance tips covering a wide range of topics throughout the year. Credit unions may link to and use these resources.
America Saves Week and Military Saves Week are national campaigns that bring together government, nonprofits and companies to encourage individuals and families to save and build personal wealth. America Saves Week is coordinated by America Saves and the American Savings Education Council. Military Saves is part of the Defense Department’s Financial Readiness Campaign. Managed by the Consumer Federation of America, both programs encourage saving, reducing debt and building wealth.
Credit unions can partner with local savings campaigns and consumer organizations to offer motivational workshops and obtain posters, brochures and other resources. Credit unions can learn more about American Saves activities here and Military Saves activities here.
Under the Federal Credit Union Act, promoting financial literacy is a core credit union mission. While credit unions serve the needs of their members and promote financial literacy within the communities they serve, NCUA works to reinforce credit union efforts, raise consumer awareness and increase access to credit union services. NCUA also participates in national financial literacy initiatives, including the Financial Literacy and Education Commission, an interagency group created by Congress to improve the nation’s financial literacy and education.
NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share
Insurance Fund, insuring the deposits of nearly 105 million account holders in all federal credit unions and the overwhelming majority of
state-chartered credit unions. At MyCreditUnion.gov and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.