CUs participate in America Saves, Military Saves Week

WASHINGTON (2/23/09)--Credit unions and the rest of the nation are celebrating smart savings habits this week. The third annual America Saves Week and Military Saves Week kicked off Sunday and will focus on savings efforts through March 1.

Today at noon EST, America Saves and the American Savings Education Council will release a survey of American's savings habits and progress. It will tell how Americans are responding to the recession, how they are managing everyday, emergency and retirement savings; how savings behavior has changed since last year's survey; progress on debt payments and key savings habits; and attitudes toward various savings practices and the use of tax refunds.

America Saves Week is part of the America Saves campaign managed by the Consumer Federation of America. Last year, more than 75,000 people attended more than 1,800 events promoting savings during the week.

Military Saves is a Department of Defense-level campaign, focusing on encouraging military members and their families to save every month to provide for their immediate and long-term goals. This year, the campaign has expanded to include Military Youth Saves program, geared to youth.

The cornerstone of the Military Saves campaign is the Saver Pledge, a commitment to exercise good financial habits and encourage others to do the same. Savers who enroll online receive electronic newsletters and e-wealth coach advice (U.S. Fed News Feb. 17) . More than 80 defense credit unions and military banks have participated in activities in the past.

Credit unions are participating in the events. For example, Aberdeen Proving Ground FCU, Aberdeen, Md., is a partner in Maryland Saves, a local savings campaign. It runs through March 7 and supports the America Saves and Military Saves national campaigns that encourage individuals and families to build wealth through savings.

In the Maryland Saves campaign, participants will automatically be entered in a drawing to win one of two $250 12-month certificates, the credit union announced.

courtesy of cuna.org