For Immediate Release: June 5, 2017
WASHINGTON — This year, 32 banks and credit unions were awarded the America Saves Designation of Savings Excellence and eight financial institutions received honorable mentions for their extraordinary efforts to encourage saving during America Saves Week/Military Saves Week. The award is presented annually to banks and credit unions that succeed in getting people to open and add to wealth-building accounts.
“This was our most competitive year so far, with this year’s Designation award winners engaging in creative ways and offering savings incentives,” said Allie Vered, America Saves Director. “We applaud each of this year’s recipients for their efforts to educate and inspire, and most importantly, take action to save money.”
Just two in five American households report making good or excellent savings progress. America Saves Week is an annual opportunity for people to assess their savings status and make a plan to start or increase saving, and for organizations like banks or credit unions to support good savings behavior. America Saves Week is coordinated each year by America Saves and the American Savings Education Council.
“The Foundation is proud to be working with America Saves on the Designation. The America Saves Week effort is great for credit unions to be aware of in terms of helping their members save, as encouraging savings and financial capability are part of credit unions’ DNA,” said Gigi Hyland, executive director of National Credit Union Foundation and chair of the America Saves Designation of Savings Excellence credit union selection committee.
“Each bank that earned the 2017 Designation for Savings Excellence demonstrated an extraordinary commitment to promoting regular savings by its customers. Collectively, they employed incentive programs designed to foster an enduring savings culture that will help their customers achieve future goals and achieve a degree of financial independence. These exceptional banks know that establishing a saving culture today creates a bridge to financial security in the future,” said Andrew N. Egeland, Jr., a member of the American Saves Designation of Savings Excellence bank selection committee.
2017 America Saves Designation of Savings Excellence Recipients:
2017 Honorable Mentions:
For more information about the America Saves Designation of Excellence visit:
Credit Union Designation: http://americasavesweek.org/america-saves-designation-of-excellence-for-credit-unions/
About America Saves
America Saves is a campaign managed by the nonprofit Consumer Federation of America that uses the principles of behavioral economics and social marketing to motivate, encourage, and support low- to moderate-income households to save money, reduce debt, and build wealth. America Saves encourages individuals and families to take the America Saves pledge and organizations to promote savings year-round and during America Saves Week. Learn more at americasaves.org and americasavesweek.org.