DFI Highlights the Importance of Saving During America Saves Week
- It's Not Too Late to Become a Partner
The Department of Financial Institutions (DFI) will partner with other government agencies, financial institutions, and financial education organizations during America Saves Week, February 25 - March 2, 2013. This coordinated campaign is an annual opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own saving status. It’s also an opportunity for financial institutions and regulators to promote saving and insured accounts.
The 2012 Annual National Survey Assessing Household Savings revealed that having a savings plan with specific goals can have beneficial financial effects, even for lower-income families.
The survey also found that:
- Only 42% of Americans say they have a savings plan with specific goals
- Only 66% of Americans have sufficient emergency savings to pay for unexpected expenses
DFI also encourages state-chartered financial institutions, including community banks and credits unions to use America Saves Week to attract new customers/members, offer incentivized accounts to help people save and increase account balances, and provide financial education including information on the importance of saving.
For more information on DFI's Education and Outreach Program, contact Alana Golden, email@example.com or (916) 323-7012.
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