Markets Wired

Federal Credit Unions Serve 13 Million Service Members and Veterans

ALEXANDRIA, Va. (Nov. 10, 2016) – National Credit Union Administration Board Chairman Rick Metsger and Board Member J. Mark McWatters today issued statements marking Veterans Day.

“Each year on November 11, we honor those who have served in our country’s armed forces and recognize the sacrifices they and their families made,” Metsger said. “Additionally, we recognize the continuing obligation to our active-duty service members as well as to our veterans to make sure they have opportunities to apply their skills in meaningful employment once they leave the military.”

“Having served as the NCUA liaison to the Defense Credit Union Council for several months, I am impressed with the outstanding service our defense credit unions provide our military personnel,” McWatters said. “As we express our gratitude to our nation’s service members this Veterans Day, I commend the credit union community for its work in meeting the financial needs of those who have sacrificed so much for our nation. I continue to advocate, working with the credit union community directly to ensure the distinct financial needs of our service members and their families are met.”

More than 13 million American service members, veterans, and their families are members of federally insured credit unions. Sixty-seven federal credit unions predominately serve active-duty service members and veterans in their fields of membership.

Veterans currently make up 16 percent of NCUA’s employees and 4 percent of its senior staff. The agency has been recognized for its efforts to recruit veterans to its workforce. NCUA ranked first among its agency peers in the
2015 Partnership for Public Service Report as a “best place to work” for veterans.

NCUA’s offices will be closed in observance of the Veterans Day holiday.