Arlington, Va. – (February 23, 2015) – National Cooperative Bank (NCB), a leading financial institution dedicated to serving cooperative nationwide, is spreading the saving message as part of America Saves Week 2015, scheduled for February 23 – 27, 2015.
"America Saves Week is a great opportunity to encourage people nationwide to set a goal, make a plan, and save automatically,” said Charles E. Snyder, President and CEO of NCB.
America Saves Week is coordinated by America Saves and the American Savings Education Council. Started in 2007, the Week is an annual opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own saving status. Typically thousands of organizations participate in the Week, reaching millions of people.
The 2014 Annual National Survey Assessing Household Savings (released during America Saves Week) revealed that while most Americans are meeting immediate financial needs, they are worse off than several years ago.
• Only about one-third of Americans feel prepared for their long term financial future.
• 68 percent reported that they are spending less than their income and saving the difference. Down from 73 Percent in 2010.
• Nearly two-thirds of respondents (64%) said that they “have sufficient emergency savings to pay for unexpected expenses like car repairs or a doctor visit.” Down from 71 percent in 2010.
• 76 percent said that they are reducing their consumer debt, or are consumer debt-free. Down from 79 percent in 2010.
With more societal encouragement and support, more Americans will be persuaded to Set a Goal. Make a Plan. Save Automatically.
