Markets Wired

Agency Reminds Credit Unions, Consumers of Online Financial Literacy Tools

ALEXANDRIA, Va. (Oct. 20, 2016) – International Credit Union Day is a good opportunity for credit unions to remind members, particularly young members, about the importance of financial literacy, National Credit Union Administration Board Chairman Rick Metsger said today.

“An educated consumer is a credit union’s best customer,” Metsger said, “and is better able to plan for the future, protect her or his finances, and build personal financial security. This is a fundamental mission for both NCUA and for credit unions. We hope they and their members will take advantage of our financial literacy resources and programming tools.”

NCUA’s MyCreditUnion.gov (opens new window) and the agency’s financial literacy site Pocket Cents (opens new window) provide up-to-date information to consumers about saving, borrowing, managing credit and protecting themselves from frauds and scams. These resources are available in English and Spanish.

NCUA also offers two fun and engaging interactive financial education tools, “Hit the Road” and “World of Cents” on the Pocket Cents (opens new window) site.

NCUA’s consumer Twitter feed, @MyCUgov (opens new window), provides personal finance tips covering a wide range of topics.

International Credit Union Day (opens new window) has been celebrated annually since 1948. The day recognizes the credit union system’s history and achievements with the goal of raising awareness about the work credit unions are doing around the world to provide affordable financial services through a not-for-profit cooperative business model.

Under the Federal Credit Union Act, promoting financial literacy is a core credit union mission. While credit unions serve the needs of their members and promote financial literacy within the communities they serve, NCUA works to reinforce credit union efforts, raise consumer awareness and increase access to credit union services. NCUA also participates in national financial literacy initiatives, including the Financial Literacy and Education Commission, an interagency group created by Congress to improve the nation’s financial literacy and education.