America Saves Week 2010
The fourth annual America Saves Week was held February 21-28, 2010 and saw record participation. Like previous years, millions of Americans were reached with savings advice, encouragement and opportunities. America Saves Week saw the largest coalition and organizational participation to date.
Over the course of America Saves Week 2010:
- Some 2,000 organizational partners participated, including government agencies, financial institutions, non-profits and companies;
- Over 400,000 people attended events including educational classes, financial fairs, free tax preparation assistance, and deposit campaigns;
- Over 27,000 people enrolled as “Savers” through America Saves or affiliated local Saves campaigns, or took the Military Saves Pledge;
- Over 6.8 million people saw information about America Saves Week on the web or through publications;
- Over 40 million were reached through the press;
- 47 states saw local activity;
- The U.S. House of Representatives passed a resolution in support of America Saves Week, introduced by Rep. Eddie Bernice Johnson (D-TX) and co-sponsored by Rep. Hinojosa and Rep. Biggert;
- John C. Dugan, Comptroller of the Currency, issued the following statement of support for America Saves Week: "Opening a savings account is an important first step in helping achieve financial goals, such as purchasing a home, meeting education expenses, saving for emergencies, or funding retirement. Over time, by adding to a savings account, consumers will accumulate assets, build wealth, and feel more financially secure. The Comptroller of the Currency supports the goals of America Saves Week."
Highlights of Organizational Partners:
- The American Council of Life Insurers (ACLI) President and CEO Frank Keating reached over sixteen million people via radio interviews throughout America Saves Week. ACLI promoted America Saves Week and urged all Americans to take the necessary steps to prepare for a financially secure retirement.
- Cooperative Extension educators in 25 states conducted a variety of financial education programs and events to motivate youth and adults to take action toward a more financially secure future. The results: over 20,000 youth and adult savers set a savings goal with a cumulative monthly sum of $2,410,205.
- The International Foundation of Employee Benefits Plans launched retirement readiness campaign and spread the word of risk tolerance. The Foundation distributed these materials through their websites, e-mail communications, and in February’s Benefits & Compensation Digest. Through their efforts more than 100,000 plan participants will received the message of developing solid retirement plans.
- 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.
- The Financial Services Roundtable, composed of the nation’s 100 largest financial institutions, announced partnership with America Saves Week to promote automatic saving, especially by low- and moderate-income households. Several institutions, including Dreyfus, US Bank, and Wells Fargo, incorporated the ASW logo in publications and advertisements. The Roundtable also released new research findings and best practices for its members to promote automatic savings.
- The Community Bank, operated by Bank of America for the Defense Finance and Accounting Service at military installations outside the United States, hosted kick-off celebrations, customer information days, student field trips and tours, and Boy/Girl Scout tours. The key statistics include 14,887 customer educational engagements and 13,405 Military Saves pledge referrals (a 48% increase since 2008).
- Navy Federal Credit Union offered incentivized savings products, including the Easy Start Certificate Special, during Military Saves Week. This one-year term certificate had a low opening balance ($50) and because the certificate maximum is $3,000, it was offered at a very attractive rate of 2.90%. At the end of the promotion, 2,699 new certificates with a combined balance of $1,916,099 were opened.