America Saves Week 2012 saw the largest organization participation since its inception; 815 organizations signed up on AmericaSavesWeek.org across 48 states, with an estimated 2,000 organizations involved in America Save Week activities across the United States, reaching over 31,000,000 people.
The sixth annual America Saves Week was conducted February 19–26, 2012 and is coordinated by America Saves, managed by the Consumer Federation of America, and the American Savings Education Council, managed by the Employee Benefit Research Institute. Started in 2007, the Week is an annual opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own saving status.
Annual Saving Survey
The sixth annual National Survey Assessing Household Saving revealed that having a savings plan with specific goals can have beneficial financial effects. Even when income is taken into account, those with a savings plan are much more likely to spend less than their income and save the difference, have adequate emergency savings, and among the non-retired, say they are saving enough for retirement.
America Saves Week 2012 Fast Facts
- Government agencies reached over 250,000 people with America Saves Week messages through emails.
- 56% of reporting financial Institutions offered an incentive, prize, or special rate for opening or adding to an account during America Saves Week.
- Cooperative Extension programs from across the country reached 97,709 people with messages about America Saves Week. 4,734 people set a savings goal through these efforts pledging to save $1,130,870.
- All military branches participated in Military Saves Week, part of America Saves Week, reaching over 255,000 people.
The America Saves Week theme “Set a Goal. Make a Plan. Save Automatically.” was a simple set of instructions to help individuals take financial action and allowed participating organizations to promote the products they offer that encourage individuals to save automatically to reach their savings goals.
- American Express challenged employees to take the “1% Challenge” to save anywhere.
- The Consumer Financial Protection Bureau (CFPB) launched a workplace savings campaign called CFPB Saves.
- The Federal Deposit Insurance Corporation hosted a national webinar to encourage financial institutions to participate in America Saves Week.
- ING U.S. Retirement rolled out a savings program for the more than 5 million retirement plan customers ING serves across the nation.
- Local America Saves Campaigns – Over 40 local, regional, and state campaigns participated in the Week reaching tens of thousands of individuals.
- The Office of the Comptroller of the Currency provided savings tips to its 3,000 employees nationwide via its intranet and 18,000 people through its Financial Literacy Update email.
- The First – A National Banking Association opened 152 new accounts totaling almost $56,000.00 and waived the service charge for any account under $100.00 for one year.
- The University of Illinois Saves held a competition among their three campuses to encourage students, staff, and faculty to save. The three campuses signed up over 700 savers and are encouraged that their model can be applied to other schools next year.
For a list of participating organizations, click here.