America Saves® in NM: America Saves Week 2012

Fahzy Abdul-Rahman Centra Training

September 15, 2011

Outline

1. Introduction2. America Saves® Week3. NM Saves Effort4. Inputs & Discussion

New Economic Normal?

1. Introduction

America Saves is a national campaign that helps individuals save money and take positive financial action. • Main goals: Help individuals of all income levels – save money and – build wealth, not debt

• Launched 2001 in Cleveland• A Non-profit Consumer Federation of America (CFA)

program. – CFA is comprised of over 270 consumer education,

advocacy, and cooperative organizations

2. America Saves® Week

• Vs. America Saves® – Week- vs. Year-round activities

• America Saves® Week – Activities: State capital proclamation, public serve

announcement, media coverage, e-mail blasts, brochures, Chamber of Commerce Saves celebration, piggy bank decoration, coupon workshop, financial fair, university/company president speech, “plastic” surgery

The Idea

• Individuals can join as a “Saver” with their – local campaign or at the America Saves website or– Paper-and-pencil enrolment.

• Once signed up, they receive regular support, encouragement and advice from the campaign – American Saver newsletter, – the monthly e-Wealth Coach series, and – access to saving tips and advice

www.americasaves.org

Savers Form

The Idea: Action-Based

• Open a saving account– or other wealth building product

• Save automatically– Pay Yourself First (PYF)

• Set aside money for an emergency fund– E.g. a car repair or trip to the emergency room – If none, Predatory Lending• Payday Lending: 390%

General Approach

• Community-wide, for example, through local news coverage, radio ads, and transit posters;

• Institutionally, for example, through employers, schools, churches, community groups, and financial institutions; and

• Personally through relatives, friends, neighbors, and co-workers.

Common Strategy

• Through appropriate messaging, outreach, opportunities, and support

• Signing up individuals as members of the campaign

• Participating in America Saves Week (ASW) on an annual basis

• Working with financial institutions• Becoming the recognized expert on savings

What America Saves® Provide:

• Printing of the basic brochure and possibly a poster.• The quarterly American Saver newsletter to all your

Savers. – Mailing this if you so desire.

• Evaluation: Maintenance of your data-base of Savers. • Your own web-site. • Opportunity to participate in the National Forum to

Promote Lower-Income Household Savings• Advice

BROCHUREExample of Free Support Provide

New Jersey Saves

http://njsaves.org/wp-content/uploads/2011/02/America-Saves-English-Brochure.pdf

New Jersey Saves

http://njsaves.org/wp-content/uploads/2011/02/America-Saves-English-Brochure.pdf

New Jersey Saves

http://njsaves.org/wp-content/uploads/2011/02/America-Saves-English-Brochure.pdf

3. NM Saves Effort

• Build from the existing networks:– With banks, CU, schools, churches, companies

• Invite them to join on collaboration efforts– E-mail and article template provided

• We’ll work from there– Media exposure: TV, radio, newspaper– Social Media Marketing

tennesseesaves.org/

In the Chat Box …

• Please jolt down in the chat box:

–Existing parties in your state/county networks who are very likely to get involved in NM Saves®

• Please be specific• E.g. First light CU, Clayton HS, Lovington

Worker’s Union

4. Questions, Inputs, & Discussion

America Saves® in NM: America Saves Week 2012

Fahzy Abdul-Rahman Centra Training

September 15, 2011