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Washington
NCUA FLEC promote financial literacy
WASHINGTON (4/28/10)--The 2010 edition of Congressional Financial Literacy Day, which was again backed by the National Credit Union Administration (NCUA), showcased the NCUA’s newly created Office of Consumer Protection while also highlighting NCUA and credit union efforts to strengthen financial education. Senators Daniel Akaka (D-Hawaii) and Michael Enzi (R-Wyo.) both served as co-hosts of the observance of financial literacy day, which was also attended by congressional staffers, media members, and representatives from many federal agencies. “If there’s one clear and obvious bright spot in the recent economic turmoil, it’s the rededication of NCUA and the credit union industry to financial education,” NCUA Chairman Debbie Matz said, adding that “credit unions demonstrate a natural affinity for making real-world, practical and useful financial literacy tools available to their members.” Another outlet for enhanced financial education is the Financial Literacy and Education Commission’s (FLEC) recently redesigned MyMoney.gov website, which was re-launched on Tuesday. The newly redesigned version contains “enhanced interactive features and utility to provide more resources to Americans seeking information that can inform their personal financial decisions.” The new site also includes tailored resources for “teachers, service members, women, parents, youth, employers,” and others and background information on how to financially plan for certain life changes or future plans, such as college. Savings calculators, budget worksheets, and checklists are also included on the site, and the FLEC said that they would continue to improve the site in the future. U.S. Treasury Deputy Secretary Neal Wolin said that the new site will provide consumers with a “critical resource to help Americans find free, reliable and unbiased information that can help inform their daily financial decisions and plan for the future." Financial Literacy Month continues through the end of the month, and the Credit Union National Association took part in National Credit Union Youth Week between April 18 and 24 and also promoted its own National Youth Saving Challenge.
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