FOR IMMEDIATE RELEASE Contact:James Lander, 202-939-1013 July 8, 2014 Katie Bryan, 202-939-1018
MILITARY SAVES AWARDS TWO CREDIT UNIONS FOR OUTSTANDING PARTICIPATION IN
MILITARY SAVES WEEK 2014
Navy Federal Credit Union, MCAS Miramar, CAand Pacific Marine Credit Union MCRD San Diego, CArecognized for helping servicememberssave
Military Saves selected two winners for the Best Credit Union award for outstanding participation in Military Saves Week 2014. Navy Federal Credit Union, MCAS, CA and Pacific Marine Credit Union MCRD San Diego, CAwere recognized for their efforts to help servicemembers save during Military Saves Week. The awards will be presented at the Defense Credit Union Council’s annual conference, August 24-27, 2014 in Dallas, TX.
“The awards recognize the vital role credit unions play in the financial readiness of servicemembers and their families,” said James Lander, Military Saves director. “These two institutionsencouraged hundreds of servicemembers to open new savings accounts and add to existing accounts during Military Saves Week.”
Only branch locations were eligible for the Best Credit Union award. Branches were nominated by the financial institution headquarters or by the branch manager.Two credit unionswere recognized for this award in the categories of $1 billion or more in assets or under $1 billion in assets. Submissions were evaluated on account activity, account incentives, and promotional methods and audience reached during Military Saves Week.
“Military Saves congratulates thesecredit unions for their devotion and energy in encouraging savings among servicemembers and their families during Military Saves Week 2014,” said Lander.
Credit Union Award – Over$1 Billion in Assets
Navy Federal Credit Union, MCAS Miramar, CAparticipated in numerous events during February promoting Military Saves. The Navy Federal Credit Union team successfullyencouraged 160 savers to open new accounts and 965 savers to add to existing accounts. Theirbranch teamconducted financial education workshops on "Creating a Budget and Debt Management" for 40 attendees. All participants received a Navy Federal goody bag and three service members won $25 Navy Federal VISA Gift Cards.Navy Federal Credit Unionwas also successful in reaching more than 1,000 servicemembers and their families through eight informational tables at the local Exchange Mini Mart, Exchange and Commissary, and near the Flight Line promoting Command Military Saves Events.In partnership with the installation’s uniformed leadership, Navy Federal Credit Union secured a Commander’s Proclamation to support the promotion of Military Saves events and provided $500 to support MCAS Miramar's "Kid's Store" items and prizes for winners of a meme and video contest.
Credit Union Award – Under $1 Billion in Assets
Pacific Marine Credit Union, MCRD San Diego, CAeducated recruits on the importance of saving money for today and more importantly for their future through one-on-one financial counseling and financial training classeson designated training days during Military Saves Week. Recruits were given the opportunity to open new savings accounts, Military Savers Certificates, and overdraft protection on their Pacific Marine Credit Union checking accounts. Pacific Marine Credit Union branch personnel’s efforts resulted in 176 servicemembers opening new accounts, 20 adding to existing accounts, and 194 establishing automatic savings deposits. In addition, as the on-base financial institution Pacific Marine Credit Union supports and attends the installation’s "Personal Financial Brown Bag Lunch Seminars" with active duty servicemembers. Military Saves was the topic for the month of February, where Pacific Marine Credit Union was provided the opportunity to present their planned activities and promotional rates for its Military Savers Certificate with a special rate of 4 percent on a 12-month certificate.
Military Saves,a component of America Saves and a partner in the Department of Defense’s Financial Readiness Campaign, is a research-based campaign that uses the principles of social marketing and behavioral economics to motivate, support, and encourage military families to save money and build wealth. Military Saves encourages all servicemembers, their families, and civilian employees to take the Military Saves pledge and for organizations to promote savings year-round and during Military Saves Week. Learn more at militarysaves.org.