Financial Literacy Day

April 27, 2010, Alexandria, Va. – The National Credit Union Administration today
highlighted NCUA and credit union industry efforts to enhance financial education
during the annual Congressional Financial Literacy Day on Capitol Hill. U.S. Senators
Daniel Akaka (D-Hawaii) and Michael Enzi (R-Wyoming) were honorary co-hosts of
this year’s event, which was attended several hundred congressional staff, members of
the news media and over a dozen federal agencies.
NCUA staff showcased the Agency’s new Office of Consumer Protection, which is
dedicated to assisting and improving consumer financial literacy, and distributed
informational materials designed to assist credit union members with money
management.
“If there’s one clear and obvious bright spot in the recent economic turmoil, it’s the
rededication of NCUA and the credit union industry to financial education,” commented
NCUA Chairman Debbie Matz. “Credit unions demonstrate a natural affinity for making
real-world, practical and useful financial literacy tools available to their members, and
NCUA takes every opportunity to foster those initiatives. I am pleased that NCUA was
able to articulate the credit union commitment to financial literacy today in front of a
Capitol Hill audience, and judging from the feedback from lawmakers and Congressional
staff in attendance, credit union leadership is appreciated.”
The National Credit Union Administration charters and supervises federal credit unions.
NCUA, with the backing of the full faith and credit of the U.S. government, also operates
and manages the National Credit Union Share Insurance Fund (NCUSIF), insuring the
deposits of 90 million account holders in all federal credit unions and the majority of
state-chartered credit unions. NCUA is funded by credit unions, not federal tax dollars.