TWELVE FINANCIAL INSTITUTIONS CHOSEN TO RECEIVE THE 2021 AMERICA SAVES DESIGNATION OF SAVINGS EXCELLENCE AWARD
Washington, D.C. – America Saves recently announced that 12 financial institutions were chosen as the recipients of the 2021 Designation of Savings Excellence (DOSE) award. The six banks and six credit unions stood out among the 365 financial institutions who participated in America Saves Week, which was held February 22–26, 2021.
TWELVE FINANCIAL INSTITUTIONS CHOSEN TO RECEIVE THE 2021 AMERICA SAVES DESIGNATION OF SAVINGS EXCELLENCE AWARD
FOR IMMEDIATE RELEASE - April 23, 2021
Contact: Kia Young, kyoung@consumerfed.org
Financial Institutions Made Extraordinary Efforts to Help Over 300,000 Americans Save More Effectively During America Saves Week
Washington, D.C. – America Saves recently announced that 12 financial institutions were chosen as the recipients of the 2021 Designation of Savings Excellence (DOSE) award. The six banks and six credit unions stood out among the 365 financial institutions that participated in America Saves Week, which was held February 22–26, 2021.
The America Saves Designation of Savings Excellence is awarded to financial institutions that take extraordinary action to support their customers, members, and employees to set up automatic savings, open new savings accounts, and increase deposits to existing savings accounts; all in an effort toward better financial stability and having emergency savings.
The 2021 DOSE recipients collectively encouraged over 300,000 individuals to deposit $158,592,265 into new and existing savings accounts during America Saves Week 2021. “Their commitment to their communities is evident through their actions,” said George Barany, Director of America Saves. “We are encouraged and proud to highlight the incredible achievements of these 12 financial institutions.”
Barany expressed concern over the financial instability so many Americans are currently experiencing. “The effects of COVID-19 continue to destabilize our nation’s health and financial well-being. Those of us who are equipped to support others during this time are in a unique position to make a huge impact in our communities,” Barany said. “The recipients of the Designation of Savings Excellence made extraordinary efforts to encourage and support everyday Americans. Most significantly, encouraging and motivating individuals to establish automatic savings and set goals around short and long-term savings goals, like saving for emergencies and retirement. The foundation set by the DOSE honorees extends well beyond America Saves Week.”
America Saves Week is an annual event that provides the tools, resources, and inspiration for everyday Americans to take action toward better financial wellness. During the week individuals and families were encouraged by a coalition of nearly 2,300 organizations to assess their financial status and make a simple savings action plan that started or increased their savings.
2021 America Saves Designation of Savings Excellence Recipients
Banks:
BancorpSouth Bank FNB Bank Mechanics Bank
Southern Bancorp Bank
Synchrony WesBanco
Credit Unions:
Baylands Family Credit Union BCU
Jax Federal Credit Union
Mid-Hudson Valley Federal Credit Union
New Horizons Credit Union Westmark Credit Union
America Saves Week is coordinated by America Saves, with input and planning support from a prestigious Advisory Council with 12 representatives that span the financial industry.
The 2021 America Saves Week Advisory Council members were Chris Browning, Founder/Host, Popcorn Finance; Rod Griffin, Senior Director of Public Education and Advocacy, Experian; Michelle Hammonds, Director, Office of Financial Empowerment and Education, District of Columbia Department of Insurance, Securities and Banking; Michael Kahn, Director, ACH Network Communications, Nacha; Sarah Bainton Kahn, Vice President, JPMorgan Chase Corporate Responsibility; Bruce McClary, Senior Vice President, Communications, National Foundation for Credit Counseling; Samantha Melting, Senior Vice President, Head of Consumer Bank, Synchrony; Luke Reynolds, Chief, Outreach and Program Development, FDIC; Josh Stoffregen, VP, Global Communications, Prudential; Kara Watkins, Campaign Manager, Funding Our Future | Bipartisan Policy Center; Susan Weinstock, Vice President of Financial Resilience, AARP; and Rebecca Wiggins, Executive Director, AFCPE®
You can read the full America Saves Week Report here
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.