NCUA, FTC to focus July 27 #NCUAChat on military consumer issues
Twitter chat to educate servicemembers and families on protecting financial security
ALEXANDRIA, VA (July 19, 2016) — In recent years, servicemembers have become particularly vulnerable to predatory lenders, so the National Credit Union Administration and the Federal Trade Commission will be providing information to empower servicemembers, veterans and their families to be informed consumers in an upcoming #NCUAChat.
The live chat is scheduled for Wednesday, July 27, beginning at 11 a.m. Eastern. Kenneth Worthey, a Financial Literacy and Outreach Analyst with NCUA’s Office of Consumer Protection, and FTC staff will discuss how servicemembers can protect themselves and their families from payday, auto and student loan predatory lending.
During the chat, NCUA and FTC will also share resources from their consumer sites, MyCreditUnion.gov and Just for You: Military Families.
Credit unions and consumers are encouraged to follow @MyCUgov on Twitter and contribute to the conversation using the #NCUAChat hashtag. Participants may submit questions in advance to socialmedia@ncua.gov.
Under the Federal Credit Union Act, promoting financial literacy is a core credit union mission. While credit unions serve the needs of their members and promote financial literacy within the communities they serve, NCUA works to reinforce credit union efforts, raise consumer awareness and increase access to credit union services. NCUA also participates in national financial literacy initiatives, including the Financial Literacy and Education Commission, an interagency group created by Congress to improve the nation’s financial literacy and education.
About National Credit Union Administration (NCUA)
The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 124 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.
