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New study shows members are saving less.

The average adult has less than $10,000 saved, saves less than 10% of his or her salary for retirement, feels financially insecure and would spend almost half of any newfound money, according to a slew of new data from Pentagon Federal Credit Union and market research firm McLaughlin & Associates.

Tysons Corner, Virginia-based PenFed and McLaughlin & Associates collected the data in a survey of 1,000 adults in February. They released the data over the course of America and Military Saves Week last week. PenFed has $23 billion in assets and about 1.6 million members.

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Tina Orem


Credit Union Times

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