ALEXANDRIA, Va. — NCUA Chairman JoAnn Johnson represented theagency at the Department of the Treasury for the first meeting ofthe Advisory Council on Financial Literacy. She was accompanied byCutler Dawson President/CEO of Navy Federal Credit Union, who is amember of the Council.

According to Johnson, the new advisory council, established byPresident George W. Bush on Jan. 22, 2008, will work with theprivate and public sector to expand American's access to financialservices, increase financial education for youth in school andadults in the workplace, and establish measures for nationalfinancial literacy. The Council is made up of a diverse group ofprivate and non-profit sector leaders who represent the broad rangeof financial information providers.

There is a growing need for the public sector to provide accessto financial services, especially in the educational areas.

“The caliber and breadth of the Council that the Presidentselected further underscores the Administration's commitment toimproving financial education for all Americans. Credit unions arevery well-positioned to play a constructive role in this effort,and NCUA will continue its work to highlight the fundamentalimportance of financial literacy,” said Chairman Johnson.

“It is, indeed, an honor to be part of such a distinguishedgroup focused on financial literacy,” said Cutler Dawson.“Financial Literacy is an 'all hands effort'–everyone has arole–family, educators, business and government. At Navy Federal,we work very hard to provide financial education for our militarymembers and their families during each life stage–whether creatingand managing a budget, buying their first car or purchasing theirfirst home.”

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