CUs prep for America Saves, Military Saves week

February 5, 2015

WASHINGTON (2/6/15)--CUNA is among the associations encouraging credit unions to educate families about the importance of saving and of taking steps to build their personal wealth.

Click to view larger image (America Saves Graphic)

During America Saves Week, scheduled this year for Feb. 23-28, credit unions and other financial institutions will encourage members and customers to open or add wealth-building accounts; save automatically through direct deposit services; or pledge that they will save.

Among the credit union organizations taking part in America Saves Week is the Montana Credit Union Network (MCUN).

"A great tip from America Saves Week is to automatically deduct an amount, no matter how small, from paychecks to ensure the account will continue to grow," said Alana Listsoe, MCUN public relations manager. "America Saves Week is an opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own saving status."

This is the eighth year that the Department of Defense will hold Military Saves Week in conjunction with America Saves Week. Military Saves Week is an annual opportunity for installations and organizations, including credit unions, that serve members of the military to promote good savings behavior and a chance for servicemembers and their families to assess their own saving status.

For the first time, America Saves will recognize credit unions that go above and beyond encouraging consumers to save money during America Saves Week.

To qualify for the special designation, credit unions must sign up to participate in the savings week and apply between March 2 and April 1.

A selection committee of credit union and America Saves leaders will meet in April to review submissions and select the winners.

Winners will be recognized at the America Saves National Savings Forum May 20 in Washington, D.C., and will be featured on the America Saves website.