America Saves Week Starts February 23
February 11, 2015
February 11, 2015
Credit unions help their members build financial strength — which includes the right mix of budgeting, good credit, and of course, savings. The last week of February is America Saves Week, a national campaign to encourage Americans to save wisely, which gives credit unions a great opportunity to engage their members in the importance and best practices of savings.
The weeklong campaign will take place February 23-28, and includes a six-day schedule to walk your members through some of the most important elements of a healthy savings plan.
- Monday, February 23: Assess Your Savings — Point your members to the campaign’s simple online tool, or to your credit union’s own services, to assess their current savings practices.
- Tuesday, February 24: Pay Off High-Interest Debt — Give your members strategies to reduce high-interest debts using your credit union’s services.
- Wednesday, February 25: Family and Youth Savings — Encourage your members to include their children and families in their savings decisions, so children can learn good practices from the beginning.
- Thursday, February 26: Save Automatically — Invite your members to set up automatic transfers into their savings accounts to help them meet their savings goals.
- Friday, February 27: Save for Retirement — Show your members the importance of good retirement savings, and invite them to learn more about how your credit union can help them.
- Saturday, February 28: Save for Emergencies — Help your members create an emergency savings fund to weather unexpected financial shocks.
Credit unions can leverage the campaign’s digital and social media toolkit to make executing on the campaign as seamless as possible, while customizing messages to include their own services.
The 2014 National Survey Assessing Household Savings found that, while most Americans are meeting their immediate financial needs, on average they are worse off than they were several years ago. Findings included:
- Only about one-third of Americans feel prepared for their long term financial future.
- Sixty-eight percent reported that they are spending less than their income and saving the difference. Down from 73 percent in 2010.
- Nearly two-thirds of respondents (64%) said that they “have sufficient emergency savings to pay for unexpected expenses like car repairs or a doctor visit.” Down from 71 percent in 2010.
- Seventy-six percent said that they are reducing their consumer debt, or are consumer debt-free. Down from 79 percent in 2010.
America Saves Week is coordinated by America Saves and the American Savings Education Council. 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. Typically thousands of organizations participate in the Week, reaching millions of people.
Questions about this story? Contact James Pearson: 206.340.4790, firstname.lastname@example.org.