DALLAS (2/10/14)--During an appearance for the Cornerstone Credit Union Foundation, personal finance expert Jean Chatzky commended credit unions and what they've done for Americans, especially during the economic downturn.
"You stand on the side of the consumer," she told attendees at Thursday's FOCUS Summit in Dallas. (Leaguer Feb. 7). Chatzky, who told the group she is "a fan of credit unions," is director of education at SavvyMoney and financial editor for NBC's "Today" show.
When it comes to the relationships between consumers and their money, many are "a hot mess," the best-selling author said during the keynote speech.
Chatzky talked about "financially fragile" Americans. A significant percentage of women, African-Americans, Hispanics, elderly and the poorly educated don't have financial education, she said, adding that fewer women than men have an emergency savings fund, are comfortable with their debt load or regularly balance their checking account.
"Most people aren't money experts, and that is why they need you," she said. "You are in a service business, and you need to be able to anticipate people's needs."