WASHINGTON (2/1/16)--Sometimes making a public commitment to a goal spurs success. With America Saves and Military Saves Week, Feb. 22-27, credit unions can help their members pledge to create a healthy savings plan.
The campaign, which is coordinated by the Consumer Federation of American and supported by the Credit Union National Association and the National Credit Union Foundation, is dedicated to helping individuals save money, reduce debt and build wealth.
Key themes of the week include saving automatically, assessing level of savings, saving for retirement or emergencies, saving tax refunds and paying off high-interest debt.
The foundation is hosting a Twitter chat at 2 p.m. (CT) Feb. 17 for credit unions to share best practices and examples of savings and asset-building programs. Belvoir FCU, Woodbridge, Va., is the featured guest. To prepare for the #foundationchat, credit unions can download a list of questions from the foundation’s website.
America Saves is also holding a “I’m Saving For ...” photo contest that offers savers a chance to win $500. Using the #imsavingfor hashtag, savers post a photo of themselves and their goal on Twitter, Google+, Facebook, Instagram, Pinterest, Vine, LinkedIn or Tumblr. Once it’s posted, savers can submit their post to americasavesweek.org/imsavingfor to enter the contest.
The campaign also will recognize exceptional credit unions with the America Saves Designation of Savings Excellence. Credit unions that participate in America Saves Week and promote a savings or wealth-building account that week can submit applications March 1 to April 1.
Military Saves Week, held in conjunction with America Saves Week, is a partner in the Department of Defense’s Financial Readiness Campaign. It aims to motivate, support and encourage servicemembers and military families to save money, reduce debt and build wealth. Military-based credit unions worldwide already have scheduled sessions on organizing financial records, buying a home or car, managing debt and the credit union difference.