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McWatters: Financial literacy is key to protecting service members (CUInsight, Aug 13, 2018)

Monday, August 13, 2018  
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ALEXANDRIA, VA (August 13, 2018) — Financial regulatory agencies, non-profits, schools financial institutions, and the military must work together to improve the personal finance knowledge of service members and their families to prevent them from being financially exploited, NCUA Board Chairman J. Mark McWatters said today.

McWatters was the keynote speaker today at the Defense Credit Union Council’s Annual Conference in Williamsburg, Virginia.

“Service members and their families face unique financial challenges, whether serving on active duty, returning to civilian life, or living as a veteran,” McWatters said. “A strong foundation of personal finance knowledge, knowing how to save and create a budget, and understanding the value and importance of money, is essential in today’s rapidly evolving financial marketplace. Not only does it affect an individual’s financial well-being, it also has implications for the economic well-being of the nation and, in the case of service members, our military’s readiness.”

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