America Saves Week 2010: Empowering all Americans

by Elisabeth Buser and Ken McDonnell, American Savings Education Council

America Saves Week is a national social marketing campaign aimed at assisting individuals in assessing their savings progress.  Resources are provided online at http://www.americasavesweek.org to help people take the next steps and advance their progress. Now in its fourth year, America Saves Week was developed in 2007 by America Saves.  In 2008, the American Savings Education Council partnered with America Saves to promote the message to all Americans.  America Saves Week 2010 will be held February 21 through 28, 2010.  All participants are encouraged to take the Week and make it their own.

 

In 2009, approximately 2,000 groups, including non-profits; government agencies; financial institutions; organizations; and military branches & agencies on the national, state, and local levels participated in the 2009 Week through direct interaction with America Saves or ASEC partners; local America Saves campaigns and their partner organizations.

 

As a result of 2009 outreach efforts: 

 

• 90,000 people attended financial education classes, seminars, fairs and one-on-one counseling activities offered by local campaigns, national groups and military organizations.
• Over 241,000 people were reached through the mail, and over 410,000 were reached through email. At least 10.7 million individuals took notice of marketing materials like posters, flyers, statement stuffers, and other ASW materials. 
• The ASW Web site also contained a large number of organizing and marketing materials. Reporting organizations distributed over 93,000 pieces of material. (Many partners also reported developing and distributing original material, which is not included in that number).
• The U.S. House of Representatives passed a resolution supporting America Saves Week. House Resolution 180 was introduced by Congressman Rubén Hinojosa (D-TX) and Congresswoman Judy Biggert (R-IL), co-founders and co-chairs of the Financial and Economic Literacy Caucus. 
• Proclamations or resolutions were issued by the Governors of the following states: Colorado, Kentucky, North Dakota, and Washington and New Jersey’s legislature.

The ASW Web site featured statements of support for the Week from prominent officials and experts, including Federal Reserve Chairman Ben Bernanke, FDIC Chairman Sheila Bair, Ohio Attorney General Richard Cordray, financial advisor and author Ric Edelman, and personal finance columnists Michelle Singletary and Humberto Cruz.  

Washington Saves Week Activities:

Two of the Week’s biggest participants and supporters were Washington State Department of Financial Institutions (DFI) and Department of Community Trade and Economic Development (CTED) who led the Washington Saves campaign. Over 30 partners participated, including Governor Christine Gregoire, the Department of Retirement Services, Washington State Society of CPA’s, the statewide asset development coalition, and several credit unions. The group planned 15 events over the week, reached millions through the press, and the Governor issued a Proclamation in support of the Week.  Washington State has many events planned for the 2010 Week and Governor Gregoire has already issued a 2010 RProclamation  in support of Washington Saves Week 2010. 

 

Building on the momentum of 2009’s success and the unfortunate economic turmoil, America Saves Week 2010 will be the most successful Week.  Thus far, there are over 155 organizations and thousands of participants of the 2010 Week.  So how can you help raise the profile of the savings issue and the need to save; help and encourage the public to assess their savings and provide concrete opportunities to save? 

 

Consider the following creative ways in which organizations participated in 2009:

• The Cooperative Extension Service had educators in 29 states participate in the Week. Nearly 60,000 people attended Extension-led events, and educators reached nearly 14 million through the media.
• MetLife promoted the Week, especially within the company’s banking and employee benefits divisions. Over 250,000 Web site visitors were given ASW information and were pointed to several financial tools and resources. MetLife also used the Week to educate the company’s 41,000 employees and encourage them take advantage of workplace savings programs.  
• The Social Security Administration (SSA) produced new fact sheets and other products to help the public understand and plan for retirement, which were promoted during the Week.  SSA also mailed a new statement insert about saving and investing to workers between the ages of 25 and 35.  They also reached 60,000 SSA staff and others over email.

Consider these easy ways to take action as an individual:

 

• Sign up to become an American Saver today and then share the information with your family, friends, and colleagues.  Savers receive the American Saver newsletter containing information on a wide variety of savings topics and a monthly e-Wealth Coach.
• Visit the America Saves Week Web site to read inspirational saver stories, sign-up to receive monthly savings messages, test your savings knowledge, and Assess Your Savings Progress.   
• Organizations, financial institutions, non-profits, government agencies, and educators can visit the Web site for step-by-step instructions on how to participate in America Saves Week.  There are also numerous posters, fliers, and other FREE promotional materials that can be downloaded and co-branded for utilization by all participants. 
• Military Saves Week also takes place during America Saves Week 2010.  If you are a member or a family member of someone employed in the Armed Forces, visit the Military Saves Web site for savings information applicable only to those associated with the Military. 

 

The Bottom Line:

It has never been more important for Americans to take action to assess their savings and plan for their financial future.  There are numerous ways, small and large, that you and everyone you know can participate in America Saves Week 2010.  Questions?  Feel free to email Elisabeth Buser at buser@asec.org or Ken McDonnell at mcdonnell@asec.org