A personal finance columnist for The Washington Post backed a new idea Sunday to launch a national thrift campaign and noted credit unions should be featured as an important tool to fight consumers' excessive reliance on credit.
Michelle Singletary, who writes "The Color of Money" column for the publication, noted a movement afoot by a coalition of consumer advocates, public policy groups and academics. They want to attack the country's dependence on debt by "creating a national campaign much like the one used to curb smoking."
The organizations mounting the effort include the Institute for American Values, the Institute for Advanced Studies in Culture, the New American Foundation, Public Agenda, the Consumer Federation of American and the National Federation of Community Development Credit Unions.
I agree with Michelle! Let's make it cool to save!