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CU System
In tough economy Mica urges CUs to reassure youth
WASHINGTON (3/5/09)--Because of the worsening economy, Credit Union National Association (CUNA) President /CEO Dan Mica is urging credit unions to single out youth for special consideration during National Credit Union Youth Week, April 19-25. "By even the most optimistic estimates, combating this recession will mean passing $10 trillion in debt on to our descendants. How we as a nation mitigate the pain of that legacy will say a lot about our character," Mica said. "The bill for cleaning up this economic mess threatens to injure young people’s prospects for a financially secure life for themselves and their families. But it would be even more detrimental to sacrifice our grandchildren’s financial security by neglecting to give them the knowledge and skill to manage the debt that we will bequeath them," he said. The CUNA leader emphasized the importance of giving coming generations the tools to thrive. "Youth Week 2009 offers us a chance to reassure tomorrow’s workforce that we will not abandon them to debt. Engage in Youth Week activities as a way of telling your young members: 'We will help you reach your financial goals; we will help you build wealth, even in bad times; we will show you the credit union way to personal prosperity.'" CUNA offers a range of Youth Week resources--many at no cost, including participation in the National Youth Saving Challenge. Use the resource link.
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