WASHINGTON — NCUA Chairman JoAnn Johnson encouraged participants in CUNA's National Financial Literacy Summit to make someone they care about their personal financial literacy project.

With savings in the red among consumers nationally, it sends a "very, very strong signal," Johnson said. She explained how her husband, Brian, has offered his young nieces and nephews small amounts of money in exchange for yard work. He makes them sign a contract to save a portion and permits them to spend some of it.

"The sooner you can get to someone…the higher the success rate," Johnson, a former teacher, stated. But adults can take a financial lesson too, she said, explaining that NCUA was looking into offering retirement savings education programs for its employees.