WASHINGTON - The National Credit Union Foundation (NCUF) said it has joined with the Savings for Life Coalition, led by the Aspen Institute, to create “a pathway to financial security for all Americans.”
Savings for Life is part of the Aspen Institute Initiative on Financial Security.
“We believe that by truly engaging the best minds in finance, we can find common ground on which to build a new set of savings vehicles that would help more Americans save, invest and own,” said the NCUF. “And at the same time, we can build a vibrant new market of savings product consumers...What is needed is the right nexus to bring the financial services sector and low- and moderate-income Americans together. Given the right savings vehicles with the right incentives for both individual savers and the financial services industry, more Americans can access the pathway to greater savings.”
“The Foundation supports initiatives to improve the present state of savings in America,” Delfin noted.
NCUF is also currently collaborating with the Aspen Institute and the Annie E. Casey Foundation on an initiative to help non-prime car buyers steer clear of predatory auto loans. A free Steer Clear Auto Lending Summit will take place July 22 from 10 a.m. - 2 p.m. at the Credit Union House on Capitol Hill in Washington.
“By saving car buyers thousands of dollars on reliable transportation to work, we hope to create more discretionary income for these borrowers to save,” Delfin said.
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