Matz to keynote official kick off of NYC Financial Literacy Day

ALEXANDRIA, Va.-NCUA Board Member Deborah Matz will keynote New York City’s Financial Literacy Day celebration October 18 to be held at Union Settlement Federal Credit Union in East Harlem. Matz will also be touring the credit union and holding a roundtable with local community development credit union leaders. The National Federation of Community Development Credit Unions (NFCDCU) has initiated the celebration and will begin a two-year campaign to educate financial literacy educators at community development credit unions across the country. The instructors will then teach low-income people about budget management, savings opportunities, and avoiding high-cost lenders. According to NFCDCU Executive Director Clifford Rosenthal, the City Council will issue a proclamation declaring October 18 Financial Literacy Day in New York City. American Express and Fannie Mae are listed among the sponsors for the events. Earned Income Tax Credit (EITC), Web-based financial information for low-income consumers, measures to combat predatory lending, and NFCDCU-sponsored programs to bring computers to low-income communities in order to overcome the “digital divide” will be featured at the event.