Cooperative Extension takes the Lead on America Saves

www.americasaves.orgwww.americasavesweek.org

Presenter: Theresa Howard,

LaRue Co. FCS agent

America Saves makes sense for Extension• Responds to locally identified educational

needs (customize activities for your county)• Fits well with most state and county plans of

work• Directly addresses one of the USDA NIFA

goals: to promote Financial Security in Later Life

America Saves drew inspiration from Money 2000™ program

Uses Social Marketing to Make Saving a National Priority

Overall Objective: To educate and assist Americans to build wealth by saving and reducing debt

• Flexible program options

• Diverse support materials

Original Target audience: Adults with low to moderate incomesOther specific campaigns:•Black America Saves•Military Saves•Young America Saves

Every America Saver will receive:• Enrollment form• Latest issue and subscription to The

American Saver quarterly newsletter• Fact sheet on different types of savings

accounts (on website)• Monthly e-Coach blasts from featured

financial advisors (must have email capability)

Savers are on a national databaseKentucky will get a periodic report for our state:•Number of Savers•Their Savings goals•Dollar amounts they plan to save each month

Measuring Program Impact

• America Saves asks for feedback annually after America Saves Week which is usually last week of February

• You may also want to keep your own local record of enrolled Savers

Measuring Program Impact

After America Saves Week (ASW) a national survey will ask for info on:

• local saves partners

• who was your target audience & estimation on #’s reached

• your promotional methods and materials, ASW success story or highlights

Getting started

• Other Kentucky Savers contacts in the state

• Brainstorm, future POW activities– The potential role for America Saves/Kentucky

Saves in your county– Cooperative Extension’s role in the campaign– Possible other community partners

Extension led efforts in other states•Financial Fairs - Financial Seminars/Workshops•Savings drives coordinated with local financial institutions•Celebrity endorsements promote importance of saving•Events for children and families•Partner with VITA tax prep sites (during tax season promote ideas on how to save your tax income)•Partner with public libraries

Extension led efforts in other states•Targets specific group such as Fort Benning Saves or K State Saves•Do a media (radio) or email blast to share a Money Tip of the day during America Saves Week•eNewsletter to Employers to share with their employees•School classroom activities- such as weigh money that’s saved

Extension led efforts in other states•West Virginia partnered with State Treasurer to put on a Women & Money Conference•Philadelphia partnered with Financial Planners Association•Kansas City had Financial Fitness Fairs•Illinois launched Young Illinois Saves•TN & FL had Video contest, posted to YouTube, Okaloosa FL Saves theme was “How much is that Pizza?”

Piggy Bank Beauty Contest or Piggy Bank Pageant

•Could partner with 4-H or local schools to do this annually (Alabama example: http://www.aces.edu/counties/Calhoun/PiggyBankPageant.php )

•Some campaigns have public vote on winners•Could display all entries or winners during national America Saves Week (usually last week of February)•May have a few winners from each district or county on display at the capitol in Frankfort during America Saves Week (depends on available space)

Partner ideas with Financial Institutions

Work with local banks and credit unions to:•Offer Savings Bonds for doorprizes at your workshops or for a drawing from new enrolled savers •Pay for incentive items to use at your workshops/activities or to offer to new enrolling savers•Include Kentucky Saves info in an envelope stuffer in monthly mailed statement•Hand out Kentucky Saves enrollment forms at their facility, maybe offer a free lunch to teller who signs up most savers

More Ideas for Agents•Grayson Co. agent will be using Piggy Banks with 2nd graders from Oct.- Feb. and encouraging them to save. Hopes new LEAP books can be found with money management themes•Green County- local banks give students with accounts $ for A’s achieved on report cards•Use High School events like Reality Store to enroll students on the spot.•May want to incorporate Kentucky Saves into educational efforts with Small Steps to Health & Wealth (FCS featured program for 2010-11) http://njaes.rutgers.edu/sshw/challenge-messages.asp Had 6 weeks of daily motivational messages via email•Remember CES Moneywi$e website, mymoney.gov, and check eXtension for financial resources such as Managing in Tough Times CoP

More Ideas for AgentsIdeas for Incentive items:•Plastic Piggy banks in UK blue •Basketball banks (ASW leads into March Madness time)•Solar powered pocket calculators(Can we coordinate for statewide bulk order? Maybe order by District)

CFA has been offering small annual grants to promote ASW. Applications are usually due in Dec. or Jan. depending on what is received by national sponsors such as Capitol One, JP Morgan, Chase and Bank of America Foundation, etc. (Sponsors change from year to year.)Grant recipients must report on how funds were used.

More Ideas for Agents•Have interactive displays, such as using a Prize Wheel (most district’s have a spinning wheel through HEEL resources)•TN idea: have a clear piggy bank, have audience guess amount of money inside. Turn over and see amount is what you’d save if you didn’t eat out for a week, or month, etc. Ideas for this can come from Kentucky Saves posters (got from Dr. Badenhop a few years ago).•DFI may be of help to contact Federal Reserve for source for shredded money.•FL got in-kind partner donation of free billboards.

•America Saves has a blog and is on Twitter & Facebook, promote this to public and savers

Consumer Federation of America (CFA) contacts –

Nancy Register, Christine Lamitina, Sara Cooper • NIFA Financial Security resource website-

www.nifa.usda.gov/nea/economics/fsll/edu_saves.html

Has Logic Model for America Saves Week, can be helpful for your Plan of Work info, now posted on HES internal site under Programmatic Resources

Kentucky Saves Logos under Media/Marketing Materials on HES Internal site Other files under Programmatic Resources

More Training Coming this Fall

One day Kentucky Saves Inservice will be offered on 2 Tuesdays:-Oct. 5 in Lexington at Fayette Co. Extension Office-Oct. 12 in Princeton at UK Research and Education CenterCan sign up through CATPAWS after mid- June, we’ll send out a reminder email on this after it’s posted

Goals of inservice: -to get ideas on curriculum resources from Jennifer Hunter: Extension Asst. Professor in Family Financial Management-Meet or learn about statewide ASW partners such as: Kelly May, from Ky. Dept. of Financial Institutions; a FCCLA representative-More info on enrolling savers with Kentucky Saves