NCUA Highlights America Saves Week
February 24, 2009, Alexandria, Va. – National Credit Union Administration Chairman Michael E. Fryzel encouraged credit union participation in America Saves Week as a way to improve consumer saving and stress the importance of financial literacy.
America Saves is a nationwide campaign encompassing a wide-range of government and private sector entities, including NCUA, the Federal Deposit Insurance Corporation, the Federal Reserve Board, and the Department of Treasury. It accentuates programs that help individuals and families save and build wealth.
“I look at this initiative as one that demonstrates the credit union philosophy. A proactive focus on the member, and aiding them in basic financial decision-making, is central to America Saves Week. It also has an obvious connection to NCUA and industry efforts to promote improved financial literacy as a way to help members make informed financial decisions,” commented NCUA Chairman Michael E. Fryzel.
America Saves Week began yesterday and runs through March 1, 2009. NCUA has posted new savings resources under their Financial Education Page. This new section features links to government and non-profit sites listing helpful information on saving, whether it be for retirement, a new car, college, or a rainy day.
The new section can be found here under Savings Resources: http://www.ncua.gov/FinancialEducation/index.htm
The National Credit Union Administration charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, also operates and manages the National Credit Union Share Insurance Fund (NCUSIF), insuring the deposits of nearly 89 million account holders in all federal credit unions and the majority of state-chartered credit unions. NCUA is funded by credit unions, not federal tax dollars.
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