News Release 2017-22 | February 27, 2017
OCC Supports America Saves Week
WASHINGTON—Comptroller of the Currency Thomas J. Curry today released the following statement in recognition of America Saves Week, February 27 – March 4, 2017:
The Office of the Comptroller of the Currency supports America Saves Week to highlight the importance of building regular savings to meet future needs, achieve a level of financial independence, and build wealth.
National banks and federal savings associations play a vital role in helping Americans save for short-term goals like building an emergency fund, and long-term goals like a home or college. Even small, regular savings build up over time. During America Saves Week, and throughout the year, financial institutions offer tools and services for millions to help meet their financial goals.
I encourage banks and savings associations, particularly those partnering with community organizations, to continue to seek responsible, innovative and proactive solutions that make achieving financial goals easier and more accessible to everyone. Institutions can promote savings through activities that include:
- Sponsoring financial literacy programs that focus on basic financial services, asset building and credit management.
- Implementing school-based savings programs to help students learn about the importance of saving money, budgeting and other money management skills.
- Offering bank-sponsored savings match programs, also known as Individual Development Accounts.
The OCC offers a range of resources on saving and financial literacy on its website, www.occ.gov. The OCC's District Community Affairs Officers also are available nationwide to provide information about programs that banks can start to promote savings.
- Interagency Guidance to Encourage Financial Institutions' Youth Savings Programs and Address Frequently Asked Questions (PDF)
- OCC Insights Report: School-Based Bank Savings Programs: Bringing Financial Education to Students
- School-Based Bank Savings Programs Fact Sheet
- Financial Literacy Resource Directory
- Financial Literacy Update
- Bank Savings Incentive Programs 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