"The great American experiment with democracy has endured for nearly two-and-a-half centuries because members of each generation serve as stewards of this sacred trust and obligation. That’s how our government “of the people, by the people, and for the people” can be passed on to future generations. What’s more, the democratically organized financial cooperatives known as federally insured credit unions are an important element of building a stable and growing middle class, a foundation which our democracy must continue fortify. For without a strong middle class, we cannot have a strong democracy. "The credit union system’s statutory mission is to meet the savings and credit needs of members, especially those of modest means. To achieve that mission, the NCUA’s work advances equity and opens the door to financial security and intergenerational wealth for all communities, especially those which have been marginalized. For that reason, the work you do is vital to the economic and financial stability of our nation. "Please take time this Independence Day to relax, recharge, and reflect on your contributions to our country and the credit union system. In short, you make our country better, our nation’s future brighter, and our democracy bolder. I, along with the rest of the NCUA Board, thank you for that very good work! And, we wish you and yours a safe and happy Independence Day. As always, be safe, be well, be kind, build brighter financial tomorrows, and let freedom ring"! — Chairman Todd M. Harper said in a message to NCUA employees.
NCUA’s Post
More Relevant Posts
-
Today marks the anniversary of President Theodore Roosevelt's signing of the Aldrich-Vreeland Act on the evening of May 30, 1908. This crucial piece of legislation came in the wake of the Panic of 1907, a severe financial crisis that rocked the nation and highlighted the urgent need for a more flexible and resilient banking system. 🏦 The Importance of the Legislation The Aldrich-Vreeland Act was a forward-thinking response to this financial instability, designed to prevent future banking panics. It allowed national banks to issue emergency currency backed by various forms of collateral, a measure that introduced much-needed elasticity to the money supply during times of crisis. This act represented a significant step towards modernizing the American financial system, laying the groundwork for creating the Federal Reserve System in 1913. Key Provisions and Impact: 💵 Emergency Currency: National banks could form currency associations to issue emergency currency, providing liquidity in times of financial stress. 📈 National Monetary Commission: The act established the National Monetary Commission, which was tasked with studying the banking systems of the time and recommending reforms. This commission's work eventually led to the establishment of the Federal Reserve. Roosevelt's swift action to sign the Aldrich-Vreeland Act into law underscored his commitment to economic stability and reform. By addressing the structural weaknesses exposed by the Panic of 1907, Roosevelt helped pave the way for a more secure and adaptable financial system. #OnThisDay #TheodoreRoosevelt #AldrichVreelandAct #FinancialHistory #EconomicReform
To view or add a comment, sign in
-
Did you know? A recent Federal Reserve survey revealed that close to 40% of Americans would find it challenging to handle an unexpected $400 expense without borrowing money or selling possessions. Let's work together to improve this statistic during #AmericaSavesWeek! 💪💰 #finances #mycccu #financialliteracy #savings
To view or add a comment, sign in
-
Legacy Safeguard was created to provide you and your loved ones with legacy planning, guidance, assistance and support. Half of American households say they would feel the financial impact from the loss of their primary wage earner. Read our most recent blog post to see what Legacy Safeguard can do for you! https://lnkd.in/gaH7b67U
To view or add a comment, sign in
-
The revelation that the White House and the U.S. Treasury struggle to track billions and trillions of dollars in spending while the IRS aggressively pursues individual taxpayers for minor amounts owed underscores a troubling discrepancy in how financial accountability is handled within the U.S. government. It be imperative that steps be taken to address these disparities and ensure that taxpayer dollars are managed responsibly and ethically at all levels of U.S. government. Failure to do so risks eroding public trust and confidence in the governing institutions of the United States of America.
To view or add a comment, sign in
-
US and international political and policy forecasting for financial markets and investors that’s independent, unaffiliated, expert, and actionable
Jan 30: [updated] Markets shouldn't take seriously either Senate Banking Chair Brown's or the 4 D Senator letter led by progressive Warren to the Fed urging lowering interest rates to help the housing market, access and affordability. It’s not going to change anything at the Fed, which will do what it will do this week with no mention of it around the table. It’s populist political cover only, and it's understood by everyone in Washington - including the Fed - that’s all it is. The Fed exercises powers given to it by Congress and derived from Congress’ constitutional powers. Congress oversees the Fed, and conversation, both formal and informal, goes both ways. So there’s nothing unusual about Senators expressing views. A close read of both letters exhibit at least one venerable political instinct: positioning to take credit for what’s likely going to happen anyway. *The Warren letter, released first, “urges the Fed to reverse its aggressive hikes to the federal funds rate in 2024” - that’s sometime in the next 11 months, *not* this week, this month, this quarter, or even in the first half of the year. *The Warren letter then says “[t]he Fed has already signaled its willingness to cut rates, and the market has responded accordingly”. *Translation: we know the action we ask for already is likely to happen, and we want to be able to say we helped make it happen. *That the Warren letter makes no difference to the Fed’s decisionmaking isn't the point: putting it out on the eve of the Fed meeting ensures it more public prominence and interest group credit than if it was put out two weeks ago, or next week. *There are public ’tells’ that both the Brown and Warren letters aren't a significant Senate policy communication. *The Warren letter is on Warren’s Senate office website and isn’t on the official Senate Banking Committee website. *The other "tell": *after* Warren's letter was released, Brown hurried to put his own letter out making broadly the same points. That's nothing more than a Senator and committee chair up for 2024 reelection scrambling to avoid embarrassment by belatedly joining the progressive choir. #federalreserve #fed #powell #monetarypolicy #senate #warren #housing #interestrates #rates
To view or add a comment, sign in
-
You may know March is for St. Patrick's Day and Daylight Savings, but it's also Credit Awareness Month. 🔢 📄 Informally known as clean up your finances month, this is a good time to review your financial wellness in preparation for taxes and the remaining quarters. Here are some useful tips from the Federal Reserve Board as you review your credit score. https://lnkd.in/g5h4PKgz #fed #creditscore #financialwealth #wealthmanagement #wealthmanager #encinitas #cardiff #leucadia #delmar #carlsbad #independentwealthsolutions
To view or add a comment, sign in
49,694 followers