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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 (opens new window) and join the conversation using the #NCUAChat hashtag on Twitter. Participants can submit questions in advance to socialmedia@ncua.gov.

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 (opens new window) 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 (opens new window) and Military Saves Week (opens new window) to help credit unions plan. Additional resources are available on NCUA’s consumer website, MyCreditUnion.gov (opens new window), and the agency’s financial literacy site, Pocket Cents (opens new window), including more information about saving, borrowing and managing credit. NCUA’s consumer Twitter feed, @MyCUgov (opens new window), 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 (opens new window) and the American Savings Education Council (opens new window). Military Saves (opens new window) is part of the Defense Department’s Financial Readiness Campaign. Managed by the Consumer Federation of America (opens new window), 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 (opens new window) and Military Saves activities here (opens new window).

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.