With military service members becoming particularly vulnerable to predatory lenders in recent years, the National Credit Union Administration and the Federal Trade Commission will be providing information to empower service members, veterans and their families to be informed consumers in an upcoming #NCUAChat.
The live chat is scheduled for Wednesday, July 27, at 11 a.m. Eastern.
Kenneth Worthey, a financial literacy and outreach analyst with NCUA's Office of Consumer Protection, and FTC staff will discuss how service members can protect themselves and their families from payday, auto and student loan predatory lending.
During the chat, NCUA and FTC will share resources from their consumer sites,MyCreditUnion.gov and Just for You: Military Families.
NCUA said credit unions and consumers are encouraged to follow @MyCUgov on Twitter and contribute to the conversation using the #NCUAChat hashtag. Participants may submit questions in advance to socialmedia@ncua.gov.
Under the Federal Credit Union Act, promoting financial literacy is a core credit union mission. While CUs serve the needs of their members and promote financial literacy within their communities, NCUA noted it works to reinforce these efforts, raise consumer awareness and increase access to financial services.
