Markets Wired

Twitter Chat to Educate Servicemembers and Families on Protecting Financial Security

ALEXANDRIA, Va. (July 19, 2016) – In recent years, servicemembers have become particularly vulnerable to predatory lenders, so the National Credit Union Administration and the Federal Trade Commission will be providing information to empower servicemembers, veterans and their families to be informed consumers in an upcoming #NCUAChat.

The live chat is scheduled for Wednesday, July 27, beginning at 11 a.m. Eastern. Kenneth Worthey, a Financial Literacy and Outreach Analyst with NCUA’s Office of Consumer Protection, and FTC staff will discuss how servicemembers can protect themselves and their families from payday, auto and student loan predatory lending.

During the chat, NCUA and FTC will also share resources from their consumer sites, MyCreditUnion.gov (opens new window) and Just for You: Military Families (opens new window).

Credit unions and consumers are encouraged to follow @MyCUgov (opens new window) on Twitter and contribute to the conversation using the #NCUAChat hashtag. Participants may submit questions in advance to socialmedia@ncua.gov.

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.