Federal Credit Unions Serve More Than 15 Million Service Members and Veterans
ALEXANDRIA, Va. (Nov. 9, 2018) – National Credit Union Administration Board Chairman J. Mark McWatters and Board Member Rick Metsger today issued statements on the eve of the 2018 observance of Veterans Day.
“On Veterans Day, we remember those who, in Gen. Douglas MacArthur’s words, ‘stand up in the storm,’” McWatters said. “We recognize the men and women in our nation’s armed forces and those who have served before, and we thank them for their dedication. They and their families make many sacrifices on our behalf, and we, in turn, have a responsibility to them. More than 15 million American service members, veterans, and their families belong to federal credit unions, and the credit union community will continue to provide them with affordable financial services.”
“This year marks the one hundredth anniversary of the end of World War I, which was once thought to be the ‘War to End All Wars,’” Metsger said. “The hard lessons of the last century have taught us, however, that there will always be threats to our security. Members our armed forces, veterans, and their families have earned our deepest gratitude for taking on the task of meeting those threats. Credit unions and this agency are committed, in return, to helping provide financial security through a safe and sound system of cooperative credit.”
The NCUA offers financial information tailored for service members and their families on its MyCreditUnion.gov consumer information website, and the agency joined the Federal Trade Commission to produce a new video on financial considerations affecting service members who are leaving active duty.
The NCUA’s offices will be closed Nov. 12 in observance of the Veterans Day holiday.
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 account holders in all federal credit unions and the overwhelming majority of
state-chartered credit unions. At MyCreditUnion.gov, NCUA also educates the public on consumer protection and financial literacy issues.