The Association of Credit Unions is frustrated by commentators talking about New Zealanders' poor savings record.
Chief Executive Doug McLaren today said credit union members who can probably least afford to save, are bucking that trend.
He said part of their service is to encourage the members to save and170,000 of them have been doing just that.
Mr McLaren said many have got their saving up to $2,500 a year. He said some people will scoff at that amount, but it is a significant amount for somebody on a minimal income.
He said over the past five years members have increased their savings by 40 per cent.
However he is critical of educators for not teaching students the fundamentals of financial management.
He added with the rising level of student debt, the students need to be taught how to save.
