Seventeen credit unions and 15 banks were recognized with an America Saves national award for helping their members and customers build personal wealth, the Consumer Federation of America in Wash. D.C., announced last week.
America Saves is a campaign that leverages the principles of behavioral economics and social marketing to motivate, encourage, and support low- to moderate-income households to save money, reduce debt, and build wealth.
"Based on national research, the one thing we know is that when we help people save, they are able to chart a brighter financial future and weather unexpected financial challenges," said Gigi Hyland, executive director for the National Credit Union Foundation in Madison, Wis. "The Foundation is proud to help advance credit unions' efforts to help members save through the America Saves on the Designation and America Saves Week."
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The credit unions that received the America Saves honor included, the $401 million Air Force Federal CU in Austin, Texas, the $1.5 billion Andrews Federal Credit Union in Suitland, Md., the $121 million Beach Municipal Federal Credit Union, Virginia Beach, Va., the $8.2 million Bi-County PTC Federal Credit Union in Warren Mich., the $1.9 billion Eglin Federal Credit Union, Fort Walton Beach, Fla., the $1.2 billion Hanscom Federal Credit Union, Hanscom AFB, Mass., the $654 million Harvard University Employees Credit Union in Cambridge, Mass., the $396 million Jax Federal Credit Union in Jacksonville, Fla., the $151 million Keys Federal Credit Union, Key West. Fla., $1.1 billion MECU of Baltimore, Md., the $89 billion Navy Federal Credit Union, Vienna, Va., the $217 million New Horizons Credit Union in Mobile, Ala., the $837 million Pacific Marine Credit Union in Oceanside, Calif., the $77 million Pioneer Valley Credit Union, Springfield, Mass., the $405 million R.I.A. Federal Credit Union in Bettendorf, Iowa, the $3.3 billion Service Credit Union in Portsmouth, N.H., and the $750 million Westmark Credit Union in Idaho Falls, Idaho.
Banks that received the America Saves award included Armed Forces Bank, BancorpSouth Bank, Bank of America.Bank of Guam, Broadway Bank,Farmers Savings Bank, First Arkansas Bank & Trust, First Commonwealth Bank, Fort Hood National Bank, Home Federal Bank, M&T Bank Corporation, Mechanics Bank, SmartyPig by Sallie Mae Bank, Southern Bancorp, and WesBanco Bank.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
