NCUA Chairman Debbie Matz was selling savings in a Thursday release from the agency, promoting America Saves Week and Military Saves Week, which run from Feb. 25 through March 2.
The purpose of the annual events is to educate members and their families about the importance of saving. The NCUA said credit unions can partner with local campaigns to offer motivational workshops and obtain posters, brochures and other resources.
“Having a savings account is the first step towards financial stability, but a recent study indicated a little more than 29% of America’s households do not have a savings account,” Matz said.
“People need to learn more about how to save and have a place to save. This year’s campaign is a perfect opportunity for credit unions to educate and empower their members and their families so they can balance their budgets, buy a home, or put money aside for their children’s educations,” she said.
This year’s national campaigns, both managed by the Consumer Federation of America, unite government, nonprofit and corporate groups to encourage individuals and families to save, reduce debt and build personal wealth.
American Saves Week is coordinated by America Saves and the American Savings Education Council. Military Saves Week is part of the Defense Department’s Financial Readiness Campaign.