Acting Comptroller Walsh Supports America Saves Week

WASHINGTON—Acting Comptroller of the Currency John G. Walsh today issued the following statement in recognition of America Saves Week, February 20 – 26, 2011:

National banks have always played an important role in helping Americans save for the future. America Saves Week recognizes this important contribution, and encourages individual savings. The Office of the Comptroller of the Currency is pleased to participate in this week's events.

Encouraging and increasing saving is important to both consumers and financial institutions. The Consumer Federation of America and the American Savings Education Council should be commended for their leadership in organizing and managing the America Saves Week campaign. In addition, national banks across the country have shown a tremendous commitment to this effort by engaging in activities that encourage saving as a way to create economic stability and to expand financial services in their communities. National banks deserve recognition for the work they have done in:

• Partnering with local America Saves campaigns during America Saves Week, and throughout the year to open savings accounts.
• 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 (IDA).

The OCC offers a wide range of resources on saving and financial literacy to consumers and financial institutions at its website at www.occ.gov. The OCC's District Community Affairs Officers are available nationwide to provide information about programs that banks can initiate to promote savings by their customers.

Related Links

• Financial Literacy Resource Directory
• Bank Savings Incentive Programs Fact Sheet
• School-Based Bank Savings Programs: Bringing Financial Education to Students Fact Sheet
• School-Based Bank Savings Programs: Bringing Financial Education to Students, Community Development Insights
• Individual Development Accounts: An Asset Building Product for Lower-Income Consumers
• Individual Development Accounts Fact Sheet
• Leveraging Earned Income Tax Credits To Reach New Bank Customers Fact Sheet
• Reaching New Bank Customers Through the Earned Income Tax Credit (PDF)
• Help With My Bank Consumer Information website