President Obama has appointed Roland Arteaga, president/CEO of the Defense Credit Union Council, to the President's Advisory Council on Financial Capability.

The 12-member council will provide advice to Obama on promoting and enhancing financial literacy and capability among the American people, according to the White House. The council has been tasked with a number of charges including advising on financial education efforts, promoting financial products and services that are beneficial to consumers--especially low- and moderate-income consumers--and promoting understanding of effective use of such products and services.

Arteaga represents the interest of credit unions operating on military bases worldwide, serving as their primary liaison and conduit to the Pentagon, the White House said. An ex-officio member of the DCUC's executive committee and ex-officio board member and treasurer of the Armed Forces Financial Network, Arteaga serves on the National Partners Coordinating Committee for the Military Saves campaign and is also a member of the American Society Military Comptrollers.

The new Consumer Financial Protection Bureau will house the Office of Financial Education, which will look to the financial capability council to help consumers make better informed financial decisions, according to the White House.