ALEXANDRIA, Va. (1/31/14)--The National Credit Union Administration (NCUA) reminds credit unions that the annual America Saves Week and Military Saves Week is Feb. 24-March 1. The agency encourages credit union to make good use of the opportunity to educate their members and members' families about the importance of saving.
NCUA Chairman Debbie Matz highlighted the importance of savings on household financial stability.
"We should be seriously concerned that nearly 44% of American households have almost no savings for emergencies," said Matz in a release Thursday. "The America Saves and Military Saves campaigns are excellent opportunities for credit unions to educate members and their families about balancing household budgets, building a cushion for when they run into financial problems and putting money aside for a new home, retirement needs or their children's educations."
During the week-long event, the NCUA encourages credit unions to partner with local savings campaigns and consumer organizations to offer motivational workshops and obtain posters, brochures and other resources.
America Saves Week and Military Saves Week are national campaigns that unite government, nonprofit and corporate groups to encourage individuals and families to save and build personal wealth. American Saves Week is coordinated by American Saves and the American Savings Educational Council. Military Saves is part of the Defense Department's Financial Readiness Campaign and has been a partner with the department since 2003. Managed by the Consumer Federation of America, both programs encourage saving, reducing debt and building wealth.
Interested parties can learn more about America Saves and Military Saves activities using the resource links below.