ALEXANDRIA, Va. — NCUA Chairman JoAnn Johnson represented the agency at the Department of the Treasury for the first meeting of the Advisory Council on Financial Literacy. She was accompanied by Cutler Dawson President/CEO of Navy Federal Credit Union, who is a member of the Council.

According to Johnson, the new advisory council, established by President George W. Bush on Jan. 22, 2008, will work with the private and public sector to expand American's access to financial services, increase financial education for youth in school and adults in the workplace, and establish measures for national financial literacy. The Council is made up of a diverse group of private and non-profit sector leaders who represent the broad range of financial information providers.

There is a growing need for the public sector to provide access to financial services, especially in the educational areas.

“The caliber and breadth of the Council that the President selected further underscores the Administration's commitment to improving financial education for all Americans. Credit unions are very well-positioned to play a constructive role in this effort, and NCUA will continue its work to highlight the fundamental importance of financial literacy,” said Chairman Johnson.

“It is, indeed, an honor to be part of such a distinguished group focused on financial literacy,” said Cutler Dawson. “Financial Literacy is an 'all hands effort'–everyone has a role–family, educators, business and government. At Navy Federal, we work very hard to provide financial education for our military members and their families during each life stage–whether creating and managing a budget, buying their first car or purchasing their first home.”

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