AMERICA SAVES HONORS 13 FINANCIAL INSTITUTIONS WITH NATION’S ONLY AWARD FOCUSED ON HELPING AMERICANS IMPROVE FINANCIAL STABILITY

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Kristin Carver Smith
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AMERICA SAVES HONORS 13 FINANCIAL INSTITUTIONS WITH NATION’S ONLY AWARD  FOCUSED ON HELPING AMERICANS IMPROVE FINANCIAL STABILITY

 Recognized for Outstanding Efforts During America Saves Week, Six Banks and Seven Credit Unions Receive the America Saves 2022 Designation of Savings Excellence Award

(WASHINGTON, D.C) April 21, 2022 — Today, America Saves announced 13 financial institutions as recipients of the 2022 America Saves Designation of Savings Excellence (DOSE) award. The coveted honor highlights banks and credit unions that made an extraordinary effort to promote positive saving behaviors and took actions to improve the financial stability of those in their community during the annual  America Saves Week campaign.

"This is a time of great financial burden for many Americans,” said Kia McCallister-Young, Director of America Saves. "With housing costs rising and unprecedented inflation, on top of the ongoing recovery from the pandemic, there's no better time to truly commit to building financial resilience — no matter if you're in a position to save or in preparation mode to get there. The financial institutions honored with the Designation of Savings Excellence truly demonstrate commitment to community. We live in a time when many organizations are quick to hop on the bandwagon on trending topics, with no true action. But these thirteen financial institutions prove that they genuinely want what's best for their customers and members and have their best interest at heart. I'm honored to have such dedicated partners who trust America Saves and enthusiastically participate in America Saves Week because they see its value to the people they serve.

The annual campaign enables partnering organizations and financial institutions to reach their communities with resources to build financial wellbeing and resilience. In particular, partnering financial institutions encourage individuals to open savings accounts, set up automatic savings, create financial goals that increase their financial wellness, and make a clear plan to achieve those goals. Of the 621 financial institutions that participated in America Saves Week 2022, six banks and seven credit unions are being recognized for their significant impact.

The commitment and dedication of the DOSE award winners were a significant portion of the collective economic impact of this year’s celebration, which took place this past February 21st - 25th. Overall the participating organizations encouraged nearly 415,000 individuals to set up a new savings account or deposit into an existing savings account, depositing a total of $1,134,122,355.56 during a one-week timeframe. Additionally, just over 200,000 individuals either set up automatic savings or increased the amount they save automatically.

Samantha Melting, Senior Vice President and Head of Consumer Banking at Synchrony—a DOSE award recipient—shared, "We are at an inflection point in how people are managing their economic lives. Working with America Saves, we're helping society get smarter about flexing financial resilience. We believe saving with a purpose can change a person's life."

In addition to the DOSE award winners, America Saves Week 2022 saw nearly 3,100 organizations participate in the campaign, including financial institutions, government agencies, local government, nonprofit organizations, academia, and more.

2022 America Saves Designation of Savings Excellence Recipients:

Banks

BancorpSouth Bank, a division of Cadence Bank

First Commonwealth Bank

Home Federal Bank

Plumas Bank

Synchrony

WesBanco Bank, Inc.

Credit Unions

Clark County Credit Union

Digital Federal Credit Union

Eaton Family Credit Union

InTouch Credit Union

New Horizons Credit Union

Tucson Old Pueblo Credit Union

Westmark Credit Union

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About America Saves

America Saves is a campaign managed by the nonprofit Consumer Federation of America that uses the principles of behavioral economics and social marketing to motivate, encourage, and support low- to moderate-income households to save money, reduce debt, and build wealth. America Saves encourages individuals and families to take the America Saves pledge and organizations to promote savings year-round and during America Saves Week. Learn more at americasaves.org and americasavesweek.org.