VIENNA, Va.--(BUSINESS WIRE)--Navy Federal Credit Union is celebrating April’s Military Saves Month by partnering with Military Saves—an America Saves program—seeking to motivate and encourage better savings habits within the military community through a pledge to save. Navy Federal and Military Saves are working together to encourage saving money, reducing debt and building wealth over time.
“Taking the Pledge” through Military Saves allows participants to set a goal and make a plan while receiving short email and text reminders from Military Saves, helping them stay on track. Navy Federal has celebrated their Military Saves partnership for 15 years, ready to better the savings habits of their members. To encourage savings amongst members and potential members, Navy Federal is offering a $50 bonus through April for savers who open their first IRA plan.
“Better prioritizing your savings is always a good idea,” emphasized Jaspreet Chawla, Senior Vice President of Savings Products. “We want to empower our members and help set them up for a secure financial future, not just during Military Saves Month, but always,” she said.
In 2021, Navy Federal members pledged to save $8.9 million dollars. Members that took the pledge last year focused primarily on three goals: establishing an emergency fund, building up general savings, and saving for housing expenses. This year, Navy Federal and Military Saves have again teamed up to take military families savings habits to the next level.
“We know that financial readiness is a large part of military readiness. Service members and their families have many unique challenges, and we don’t want financial stress to be one of them,” said Kia McCallister-Young, Director of America Saves. “We’re here to support the military community by celebrating those starting their savings journey and continue to encourage those who are rebuilding after the effects of the pandemic. We’re grateful for partners like Navy Federal Credit Union who are incredibly committed to the financial success and wellness of the military.”
This year, savers will become eligible for rewards as they share their savings tips. The participants with the best tips will have a chance to win up to $1000 and winners will be announced in May. For more information on sharing savings tips and prizes, click here. To learn more about Navy Federal savings accounts, certificates, money market accounts and more, visit their website. For more on savings tips and tricks, check out Navy Federal’s blog.
About Navy Federal Credit Union: Established in 1933 with only seven members, Navy Federal now has the distinct honor of serving over 11 million members globally and is the world’s largest credit union. As a member-owned and not-for-profit organization, Navy Federal always puts the financial needs of its members first. Membership is open to all Department of Defense and Coast Guard Active Duty, veterans, civilian and contractor personnel, and their families. Dedicated to its mission of service, Navy Federal employs a workforce of over 20,000 and has a global network of 350 branches. For more information about Navy Federal Credit Union, visit navyfederal.org.
Navy Federal Credit Union is federally insured by NCUA. Equal Opportunity Employer.
About Military Saves: The research-based Military Saves program, coordinated by the non-profit Consumer Federation of America (CFA), uses the principles of behavioral economics and social marketing to change savings behavior and motivate action. Military Saves encourages the entire military community to take the Military Saves pledge and for organizations to promote savings year-round, and especially during Military Saves Month in April.
