Banks play a crucial role in the success of America Saves Week (ASW) each and every year. They are the institutions that individuals turn in to order to keep their money safe and secure. They are also host to the most frequently selected savings products used by our savers: traditional savings and share accounts.
ASW is an annual opportunity for financial institutions to encourage individuals to save money, with an emphasis on reaching low- to moderate-income families. And engagement doesn’t have to be complicated. ASW puts the spotlight on two components that are already woven into the fabric of your institutions: awareness and financial action. In fact, many participating institutions have found that ASW gives them an opportunity to highlight the great work that their employees and communities are doing year-long and provides an extra boost to their community outreach.
America Saves Designation of Savings Excellence designee WesBanco Bank (Ohio) has participated in ASW since its inception in 2007. On receipt of their Designation of Savings Excellence, WesBanco’s Senior Vice President and Community Development Manager Joe Flynn said, “Our staff, from market presidents to bank tellers, went above and beyond business as usual during ASW to encourage customers to save.” What an incredible way to not only amplify your community’s savings needs, but also to recognize the hard work of the employees who serve that community.
“America Saves Week is a great way to connect with local schools, communities, and businesses to help promote a unified message about financial literacy. Partnering with America Saves Week allows TS Institute and our other financial partners to inspire strong saving patterns and improve the financial appetite on a local, regional and national level,” stated Bob Mantell, director of America Saves Designation of Savings Excellence designee TS Institute (Iowa). Each of their activities during ASW emphasized the importance of saving and sought to elevate the financial literacy of children and adults in their scope.
America Saves will be offering the Designation of Excellence for Banks again this year, recognizing those banks that succeed in promoting savings or other wealth building accounts and had high levels of accounts opened or added to during America Saves Week 2017. This year, the Designation committee is especially interested in recognizing banks that help their customers save automatically and use innovative strategies to promote these accounts. Click here more information about the America Saves Designation of Excellence for Banks.
How will you encourage people to save?
Registration for America Saves Week 2017 is now open here. During ASW, any engagement – from contributions to Twitter chats or use of the digital toolkit, to the creation and launch of ASW-specific savings products – is considered participation. Institutions who sign up receive:
- The America Saves Week 2017 participation badge,
- Recognition online at americasavesweek.org/participatingorganizations, and
- Helpful emails from America Saves Week staff to help you plan successful activities.