Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
GCUA poll on savings cited in Atlanta newspaper
ATLANTA (9/3/10)--The Atlanta-Journal Constitution Thursday published a story about savings, based on a poll conducted by the Georgia Credit Union Affiliates (GCUA) that indicated consumers are holding tightly to their wallets. The story featured Allen Nichols, a member of Georgia FCU, Duluth, whose income dropped by 50%. He turned to his retirement savings to pay the bills, sold his lake home, downsized to cars with more affordable payments, stopped eating out and knocked his credit card debt to $2,000 from $20,000. Roughly 53% of those GCUA surveyed were working to increase savings, the newspaper reported. About 50.3% predicted they could survive for three months or fewer if they lost their income, and 20% indicated they had enough savings to last more than one year. Twenty-six percent said they could not sustain through any loss of income. Also, the national savings rate has risen to 6%, the newspaper said. To read the article, use the link.
Other Resources

RSS print
News Now LiveWire
Large CU stress testing on the agenda for the April @theNCUA open meeting http://t.co/2TUcnmCmPi
14 hours ago
#FinancialLiteracyMonth Test your college financial aid knowledge @nasfaa http://t.co/xgrDmHaw8W
22 hours ago
Join @theNCUA #NCUAchat with @KenWortheyJr on April 23 from 11am to 12pm EST http://t.co/TnNmfFh4Nl #FinancialLiteracyMonth
23 hours ago
Maine's patent troll bill has become law. Read more in Monday in @NewsNowLiveWire
1 Day ago
Wash. DFI discusses serving legal marijuana businesses with @NWCUA http://t.co/3kw79HJUYF
1 Day ago