ARLINGTON, Va. — NAFCU praised the Consumer Federation of America's America Saves program, a national campaign that encourages consumers to reduce debt and save money.
In a statement, NAFCU President/CEO Fred Becker came out in support of America Saves and lauded the efforts to promote America Saves Week, Feb. 25-March 4. He encouraged all NAFCU members to join the campaign.
"Improving the country's savings rate, especially among lower-income individuals, is critical," Becker stated. "America Saves provides a wonderful opportunity for credit unions to promote savings, debt reduction, asset development and wealth-building among members."
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Information about America Saves and how to enroll is available at http://www.americasaves.org/enroll/.
NAFCU, which has close ties with the military credit unions, also applauded the Military Saves program, a component of America Saves. Fort Belvoir FCU, Langley FCU, Navy FCU and Pacific Marine CU are among the NAFCU members that currently serve on the campaign's Financial Services Committee, which is developing programs specifically geared for defense credit unions.
America Saves is also promoting a new IRS program that allows taxpayers to electronically deposit their tax refunds in up to three accounts with Form 8888 (http://www.irs.gov/pub/irs-pdf/f8888.pdf). Becker said that split refunds would provide credit union members the opportunity to increase their savings, both in share and retirement accounts, while also using a portion of their refund to pay off bills or make purchases.
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