ALEXANDRIA, Va. – Educated consumers are better-prepared to build financial security and protect themselves from scams, and the National Credit Union Administration encourages credit unions to continue helping members better understand personal financial matters during Financial Literacy Month.
Consumers who have a strong foundation in personal finance are essential to a healthy credit union system. NCUA offers an array of financial literacy education resources on its consumer website, MyCreditUnion.gov. The agency also has a consumer Twitter feed, @MyCUgov, that offers up-to-date information about saving, borrowing, managing credit, and avoiding frauds and scams. Most resources on MyCreditUnion.gov are available in English and Spanish.
During Financial Literacy Month, which runs April 1 to April 30, NCUA will again participate in the Financial Literacy Day on Capitol Hill on Friday, April 28, from noon to 3 p.m. Eastern. Organized by the Jump$tart Coalition, the annual event raises awareness about the importance of financial literacy among lawmakers, congressional staff, and the public. The event also highlights the need for financial education and the resources and initiatives on the subject. NCUA will provide information about federally insured credit unions, the agency’s role in financial education, and NCUA’s consumer financial protection and financial literacy resources.
NCUA also plans to host a Twitter Chat to discuss personal finance topics with consumers and credit unions. NCUA will announce more details in the near future. NCUA also encourages credit unions to continue efforts to partner with national and local organizations such as schools, non-profits and other consumer-focused groups to offer workshops and distribute educational 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. 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. Access NCUA’s Financial Literacy Resource center at NCUA.gov for more information.
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