International Credit Union Day: Pausing to Recognize the Role Credit Unions Play in Helping Military Service Members to Save
Thursday, Oct. 19 is International Credit Union Day—a great opportunity to recognize the important role that credit unions, like banks, play in creating savings opportunities for service members and their families.
From giving service members a secure place to open up a separate savings account to build an emergency fund; helping them save automatically towards a variety of goals, such as retirement; to offering incentivized savings products, these military-affiliated credit unions help military families save towards their goals.
The recent Military Savers Survey noted the role these financial institutions play in the financial lives of service members and their families. In the survey, Military Savers were asked about what they considered the most helpful sources of financial information. Fifty-nine percent indicated banks and credit unions, followed by family and friends (39 percent), military peers (26 percent), personal financial managers/counselors/family readiness programs (16 percent), and military chain of command (seven percent).
The 2017 America Saves of Designation of Savings Excellence recognized 10 military-affiliated credit unions. The recognition is presented annually to financial institutions that make extraordinary efforts to encourage saving during America Saves Week/Military Saves Week and succeeded in encouraging customers and members to open and add to wealth-building accounts.
Today we salute military-affiliated credit unions and thank them for helping military families save!
Military-affiliated CUs play a vital role in supporting military families as they save. @DCUC_HQ @CUNA @TheNCUA >> http://bit.ly/2inJjS2
- Written by Alecia Blair
- Category: Blog
- Published: 19 October 2017