United States Navy Personal Financial Management Program Fleet

1
(No Transcript)
2
CFA and America Saves

• Consumer Federation of America is located in
  Washington, D.C., and was founded in 1968. It is
  an association of more than 300 nonprofit
  pro-consumer groups Including Consumers Union,
  AARP, credit unions, housing co-ops and
  grassroots organizations.
• America Saves is a national social marketing
  campaign that seeks to motivate and support low
  to moderate income households to save and build
  wealth.
• America Saves WeekFebruary 24 through March 2,
  2008

3
Characteristics of a Social Marketing Campaign

• Campaigns take many years to succeed
• Emphasize consequences that are both negative and
  positive, short and long term
• As the campaign progresses the change often
  accelerates
• Successful campaigns are integrated and
  coordinated
• Campaigns are aided by powerful, relentlessly
  communicated messages- short memorable, and
  motivational.
• Both national and local efforts are essential
• Public policy can provide critical support
• Each campaign is unique

4
Fifty-three Local, State and National Saves
Campaigns
89,188 Savers Enrolled
5
What America Saves Provides

• Materials
• Posters
• Brochures
• Membership cards
• Newsletters
• Database
• Other materials as necessary
• Technical assistance at local level
• Training for motivational presenters and wealth
  coaches.
• Work with coalition and lenders on campaign
  development
• Media outreach

6
Core Components of a Local Campaign

• Financial Products
• Savings account with low starting balance
  requirement and fees waived for an initial period
• Motivational Workshops
• Wealth Coaches
• Financial Resources
• Organizational Marketing
• Community Wide Marketing
• Saver Services

7
Enrolling Savers

• Set a savings goal
• Emergency Fund
• Investment Savings
• Homeownership
• Debt Repayment
• Retirement Saving
• Establish a savings amount
• Identify an account and a financial institution
• Participate in a one-on-one counseling session
• Track progress

8
Characteristics of a Successful Local Campaign

• Committed, energetic, competent leadership
• Broad-based working group/campaign coordinating
  committee that meets regularly
• Agreed upon campaign goals with written plan to
  achieve goal
• Committees coordinating campaign component
  development and implementation
• Robust organizational marketing plan
• Campaign infrastructure designed to go to scale
• Clear communications
• To markets
• To volunteers
• Financial resources
• Sustainability

9
America Saves and IDAs

• IDA participants automatically qualify as Savers.
• Piggyback on America Saves campaigns and America
  Saves Week to enroll IDA participants.
• Supplement IDA participant savings with separate
  Saver account to provide emergency savings.
• Utilize America Saves and local campaign
  materials, information and motivation to support
  your efforts.

10
(No Transcript)