Credit union advocates urged the U.S. Treasury to modernize the nation's financial literacy strategy, emphasizing fraud prevention, digital accessibility and stronger partnerships with community-based institutions.
In comment letters submitted to the Financial Literacy and Education Commission, both the Defense Credit Union Council (DCUC) and America's Credit Unions outlined recommendations to update the National Strategy for Financial Literacy, which was last revised in 2020.
America's Credit Unions called for a continued focus on practical, community-based financial education, highlighting the role credit unions play in delivering counseling, in-school programs and localized outreach. The group also urged policymakers to elevate fraud prevention as a core component of the strategy, citing growing risks tied to digital payments and online scams.
DCUC echoed those priorities, with a particular focus on servicemembers and veterans. The organization recommended modernizing MyMoney.gov into a central, user-friendly platform with interactive tools, mobile optimization and tailored content for different populations.
Both groups also called for more frequent updates to the strategy to keep pace with rapid changes in financial services, including real-time payments and evolving digital tools.
The letters emphasized that strengthening financial literacy efforts is key to improving long-term financial stability, particularly for underserved and vulnerable populations.
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