News Release 2013-31 | February 25, 2013
OCC Supports America Saves Week
WASHINGTON—Comptroller of the Currency Thomas J. Curry today issued the following statement in recognition of America Saves Week, February 25 – March 3, 2013:
The Office of the Comptroller of the Currency is pleased to support America Saves Week, which encourages individuals and families to save money and build personal wealth.
America Saves Week gives consumers, national banks and federal savings institutions the opportunity to work together to increase savings, which is most effective when starting early. Research shows that having access and contributing to a savings account can be the basis of creating a sound financial future. Children with savings accounts in their names are more likely to attend college, and consumers with savings accounts are more likely to meet their financial goals, such as creating an emergency fund, saving for retirement or purchasing a home.
I commend the Consumer Federation of America and the American Savings Education Council for their ongoing leadership and work with the America Saves Week campaign. Banks across the country continue to show their commitment to this campaign and their communities by partnering with local organizations to encourage saving as a way to create economic stability and to expand financial services through initiatives to promote saving, such as:
- Implementing school-based savings programs to help students learn about the importance of saving money and other money management skills.
- Sponsoring financial literacy programs that focus on basic financial services, asset building and credit management.
- Offering bank-sponsored savings match programs, also known as Individual Development Accounts (IDAs).
The OCC offers a range of resources on saving and financial literacy to consumers and financial institutions at its website, www.occ.gov. The OCC's District Community Affairs Officers are available nationwide to provide information about programs banks can initiate to promote savings by their customers.
- OCC's Financial Literacy Resource Directory
- Bank Savings Incentive Programs Fact Sheet
- School-Based Bank Savings Programs: Bringing Financial Education to Students Fact Sheet
- Individual Development Accounts: An Asset Building Product for Lower-Income Consumers (PDF)
- Individual Development Accounts Fact Sheet
- Help With My Bank Consumer Information website