ALEXANDRIA, Va.—NCUA Chairman Debbie Matz Tuesday is encouraging credit unions to use the agency’s financial literacy resources during Financial Literacy Month to help members better manage and protect their finances.
“The world is becoming more complex every day, so managing money and building financial security requires education,” Matz said. “This is a key mission for NCUA and credit unions. During Financial Literacy Month, we encourage credit unions to take advantage of our financial literacy resources and programing to help their members become better-educated consumers.”
NCUA said its MyCreditUnion.gov and financial literacy site Pocket Cents provide up-to-date information to consumers about saving, borrowing, managing credit and protecting themselves from frauds and scams. These resources are available in English and Spanish.
NCUA’s consumer Twitter feed, @MyCUgov, provides personal finance tips covering a wide range of topics. During April, @MyCUgov will focus on financial literacy issues like saving, budgeting and borrowing.
NCUA said it plans to host a Twitter chat during April at a date to be announced. Credit unions and consumers will be able to follow the conversation and contribute using the #NCUAChat hashtag on Twitter. Participants can submit questions beforehand to socialmedia@ncua.gov.
NCUA participated in the Financial Literacy Day event on Capitol Hill today. Organized by the Jump$tart Coalition, the event highlights the importance of financial literacy, the need for financial education and the array of resources and initiatives currently dedicated to addressing the issue. The agency will help raise awareness among lawmakers, congressional staffers and the public about federally insured credit unions and the role of NCUA.
NCUA also encouraged credit unions to partner with national and local organizations such as schools, non-profits and other consumer-focused groups to offer workshops and distribute outreach materials.
“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,” the agency stated. “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.”