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The importance of basic emergency savings and how financial leaders can encourage consumers to act is the focus of an America Saves National Saving Forum slated today and attended by NAFCU Senior Regulatory Affairs Counsel Michael Emancipator.

NCUA Office of Consumer Protection Director Gail Laster is today's keynote speaker. Laster oversees the agency's fair lending, consumer protection, financial literacy and chartering programs and policies.

Each year, NAFCU encourages credit unions to engage their members on savings strategies and good personal financial management by participating in America Saves Week (last held this February). Through the program, financial institutions are asked to promote the value of saving through all their communication channels.

Last week, Emancipator sent a comment letter commending the Financial Literacy and Education Commission's vision for improving consumers' financial well-being. He also touted credit unions' ongoing efforts in this area.

In the letter, which focused on the commission's goal of updating its national strategy, Emancipator highlighted a recent NAFCU member survey that found roughly 86 percent of credit union respondents offer some form of financial literacy training to their members.