How Organizations are Helping People Save

A wide range of organizations, including government agencies, corporations, financial services institutions, banks, credit unions, academic institutions, and nonprofits help people save more successfully by encouraging their constituents to save, providing information about savings strategies and products, and offering opportunities to take financial action.

Your organization can help, too. Contact This email address is being protected from spambots. You need JavaScript enabled to view it.for more information.

Here are some examples of what others have done.

Financial Institutions

From large banks to small community banks, financial institutions have used America Saves and America Saves Week to attract new customers, offer incentivized accounts to help people save, increase account balances, and educate individuals on the importance of saving.

About half of reporting financial institutions that participated in America Saves Week 2011 found higher than normal rates of accounts opened during the week, showing that participation benefits consumers and is good for business.  

Community Bank (operated by Bank of America)

Armed Forces Bank, N.A. (AFB) and Armed Forces Bank of California, N.A (AFBCA)

Prudential Retirement

Navy Federal Credit Union

The First A National Banking Association

The Columbia Bank

First Security Bank and Trust

Service Credit Union

Sea Air Federal Credit Union

Belvoir FCU

The Peoples Bank

Colleges and Universities

 

Reaching Small Businesses and Employees

  1. Other financial services companies and federal agencies have found participation in America Saves and America Saves Week particularly helpful in promoting good financial behavior for their employees.  For example: MetLife ─ sent out a flash email, that reached over 33,000 associates to introduce America Saves Week, reinforce why MetLife supports it, and connect it to what they do as a company. The Social Security Administration ─ educated their employees on the importance of savings and financial planning by hosting a one-day comprehensive Seminar and sending a nationwide email message on the importance of America Saves Week.
  2. The Department of Labor, IRS, NACHA, and AICPA have partnered with America Saves to reach small business owners during ASW 2011, 2012, and 2013.  DOL hosted webinars that included videos by Asst. Secy Phyllis Borzi for hundreds of small business owners.  These webinars provided an overview by DOL and the IRS of how to set up retirement plans for employees.  America Saves focused on the importance of employer support of saving at work by providing direct deposit for paychecks and the opportunity for automatically saving a portion of each paycheck.  The missing component to this strategy is the participation by a financial institution to provide the needed banking services.