As consumers have faced unprecedented economic challenges related to the coronavirus pandemic, financial capability and sound saving habits are now more important than ever.
Earlier this month, Todd M. Harper, NCUA chairman, encouraged credit unions and their members to utilize the agency’s financial literacy resources available to them during National Financial Capability Month, which runs throughout April, and throughout the year.
“At the heart of the cooperative credit union movement is a commitment to improving the financial wellbeing of every American, including those of modest means,” Harper said. “National Financial Capability Month, therefore, is a good time for credit unions to invest in the financial literacy of their members by helping them better understand how to save, earn, borrow, invest, and improve their financial lives.”
In recognition of National Financial Capability Month, the NCUA and the FDIC are co-hosting a webinar for credit unions, banks and other interested parties on the importance of financial account access and financial education for young people participating in employment programs.
Registration for the 1:30 p.m. April 27 event, “Account Access and Financial Education for Youth Participating in Employment Programs,” is now open.
Other resources available to credit unions and their members include:
- The NCUA’s Financial Literacy & Education Resource Center, which includes resources and tools from other federal agencies and stakeholders that can assist credit unions in developing or improving their own personal finance and financial literacy education programs.
- MyCreditUnion.gov, NCUA’s consumer website, which has links to information on a variety of financial education resources, including such topics as saving and investing, homeownership, dealing with debt, preventing fraud, and planning for the unexpected.
- The Financial Literacy and Education Commission’s website, MyMoney.gov, which includes links to information on earning, borrowing, saving, investing, spending, and protecting financial resources.