The 2020 Designation of Savings Excellence Winners

This award is made annually to those financial institutions that go above and beyond to actively encourage members to save, increase savings, save automatically, and build wealth. Financial institutions play a most pivotal role in motivating and providing a safe and appropriate opportunity to save. Your actions during America Saves Week and beyond provide a positive example of what financial institutions can do to support their customers in building emergency savings and a measure of financial stability.

Twelve awardees made a significant difference in combating the current savings crisis.  All told these financial institutions had 124,938 customers deposit $363,847,981.49 into new and existing savings account during a one-week time frame.  All of these institutions also promoted automatic savings and the need to save for emergencies/unexpected expenses using creative messaging through social media and communications to employees.

Your 2020 Designation of Savings Excellence winners are:

 

BANK WINNERS:

Farmers Savings Bank

First Commonwealth Bank

Haddon Savings Bank

Southern Bancorp Bank 

Synchrony

West Banco 

BancorpSouth Bank 

 

CREDIT UNION WINNERS:

Eaton Family Credit Union

North East Welch Family Credit Union

New Horizons Credit Union

Baylands Credit Union – 1st time winner!

Community Resource Credit Union   

Tip of the Day

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Saver Tips and Stories View all »

Challenging Herself to Save

It all started when Marchale Burton overheard Alabama cooperative extension colleague Isaac Chappelle, coordinator of Alabama Saves, explaining how saving just a little bit – even change – is all it takes to become a saver. “I thought about that,” Burton said, “and wanted to see if it would work.” So, she challenged herself to see how much change she could save.

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Taking Steps Toward Financial Fitness

Nicky Vasquez learned about Virginia Saves when she attended her first class with Bank On Virginia Beach. The instructor shared how important it was to have a written savings goal, and the entire class joined Virginia Saves as the first step toward financial fitness.

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Saving With My Boys

When Kelly was a kid, she loved the picture book A Chair for My Mother by Vera B. Williams. In the story, a little girl lives in an apartment with her mother and grandmother. The little girl’s mother is a waitress and sole provider for their family. Together the family saves money by putting their change in a giant jar every day. They are saving for a big cushy chair for the little girl’s hard-working mother. Together with patience and diligence, they buy the mother a very comfy chair.

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