WASHINGTON–Military Saves has awarded six credit unions and four banks the Military Saves Designation of Savings Excellence for their “extraordinary efforts to motivate their communities to build personal savings” during Military Saves Month 2020.
Now in its seventh year, the award is presented annually to banking institutions that succeed in getting people to open or add to wealth-building accounts.
Ten military installations/units and 10 military supporters were also awarded the Military Saves Savings Champion designation for their outstanding efforts in motivating their communities to build wealth and reduce debt.
The winning credit unions included Air Force FCU, Freedom FCU, Navy FCU, new Horizons CU, PenFed CU and Travis CU.
“The COVID-19 pandemic is an unfortunate situation that is currently impacting military families and their finances. The timing of Military Saves Month has helped to spearhead the conversation around saving during a national crisis and help service members and their families take action toward their savings plan,” said Angela Caban, Military Saves director. “The installations, organizations, financial institutions and supporters awarded went above and beyond to encourage and support the military community to save.”
Military Saves Month, held during April, is an annual opportunity for the entire military community to assess their savings status and make a plan to start or increase saving, and for organizations to support good savings behavior.