NAFCU touts CUs' financial literacy, retirement programs to Senate panel
"The first step to promoting retirement savings is establishing financial literacy. Financially literate individuals are more likely to spend prudently and put money in savings, retirement funds, and other wealth building accounts," wrote NAFCU's Brad Thaler ahead of a Senate Special Committee on Aging hearing today focused on financial security in retirement.
"Likewise, the same individuals are less likely to rack up large, burdensome – and sometimes unaffordable – debt, and are less likely to be victims of predatory practices," he added.
Thaler, NAFCU's vice president of legislative affairs, stressed that "providing financial literacy and education is paramount to improving credit union members' financial lives." He went on to share some of the programs offered, which are highlighted in a NAFCU Economic & CU Monitor survey.
Almost all respondents to the Monitor survey said their credit union offers financial literacy programs, with two-thirds offering programs on retirement savings.
In addition, the Monitor survey found that credit unions are partnering with third-party vendors to help members with budgeting, personal financial management and credit monitoring. Many credit unions also offer incentives to help members save.
Thaler also highlighted NAFCU's partnerships with the Consumer Federation of America, specifically with their America Saves and Military Saves programs. The association also provides feedback on financial education resources offered by federal regulators.
NAFCU will continue to showcase the close relationship credit unions, as community-based financial institutions, have with their members and how they are uniquely situated to meet their members' financial needs.
Add to Calendar 2021-01-14 14:00:00 2021-01-14 14:00:00 HMDA Fundamentals & Advanced Topics for Accurate Reporting Learn essential HMDA points that will aide both beginners and experienced HMDA personnel in quickly and accurately determining the reportability of transactions and the correct completion of specific HMDA fields. It is easy to get lost in the nuances of the Home Mortgage Disclosure Act. This webinar will cut through the haze and share crucial information for a strong HMDA program, including where to locate the guidance. Topics Covered Revised mandatory reporting and partial exemption thresholds. Defining an application for HMDA. Covered and excluded dwellings including mixed use properties. Excluded transactions including all about temporary financing. Conditional versus final approvals. Special rules for early decisions with missing information. Key Takeaways Helpful hints for a full understanding of requirements and accurate decision making. Where to locate the various types of guidance available. Tips for establishing a solid HMDA program to enhance accuracy and ease testing and scrubbing. Purchase Now$295 Members | $395 Nonmembers (Additional $50 for CD)One registration gives your entire credit union access to the on-demand recording until January 14, 2022.Already registered? Go to the Online Training Center to view live. Who Should Attend? NAFCU Certified Risk Managers (NCRMs) NAFCU Certified Compliance Officers (NCCOs) Compliance Titles Risk Titles Education Credits NCRMs will receive 1.5 CEUs for participating in this webinar. NCCOs will receive 1.5 CEUs for participating in this webinar. CPA credit information is below; recommended 1.5 CPE credits. CPA Certification Credit Information Reviewer: Josie Collins, Associate Director of Education, NAFCU Learning Objectives: Helpful hints for a full understanding of requirements and accurate decision making. Where to locate the various types of guidance available. Tips for establishing a solid HMDA program to enhance accuracy and ease testing and scrubbing. Program Level: Basic Prerequisites Needed: None Advance Preparation Needed: None Delivery Method: Group Internet-Based Recommended CPE Credits: 1.5 credits Recommended Field of Study: Regulatory Ethics – Technical National Association of Federal Credit Unions (NAFCU) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Learn more. About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, D.C. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU firstname.lastname@example.org America/New_York public
Credits: NCRM, NCCO, CPE
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