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West Virginia Saves
Webinar Co-sponsored by the West Virginia Bankers Association and WesBanco Bank, Inc.
January 17, 2013
Lisa WernerA Founder of West Virginia Saves and Assistant Vice
President - Mortgage CRA Officer, WesBanco Bank, Inc.
Today’s Speaker
West Virginia Saves: a state-wide social marketing campaign established in June, 2006.
• West Virginia Saves provides tools and tips to help West Virginia Savers reach their personal financial goals.
• Over 6,200 people have become West Virginia Savers.
About Us
• Financial institutions, faith-based organizations, employers, schools, nonprofit organizations, government entities, and others work together to motivate individuals and families to save, build wealth, and reduce debt.
• The campaign targets low- and moderate-income individuals but is open to everyone recognizing that we as Americans are experiencing low savings rates.
• Goals may include debt repayment, a college education, homeownership, retirement savings, or even something much more modest.
• Savers do not need to open a new account in order to register. They can have previously established accounts.
• EITC awareness is promoted as a way to help families build wealth and to take advantage of VITA sites.
• One large part of the campaign’s mission is to encourage homeownership since this can build wealth for both current and future generations of a family.
• West Virginia Savers tell us what their savings goal is; we then help them stay on track.
More About Us
• Sign up new West Virginia Savers.
• Promote good savings behaviors.
• Provide opportunities for residents to save successfully.
• Encourage savers to create a personal financial plan.
• Motivate people to open a new account or add to a current account.
West Virginia Saves Week Goals
During West Virginia Saves Week, a competition
between financial institutions will be held.
The banking center/branch that signs up the most new savers, will win a luncheon for the employees.
West Virginia Saves Week Incentive
Benefits for West Virginia Savers
• Monthly e-mails from financial experts.
• Quarterly newsletter.
• Access to online member-only savings tools and calculators.
• Savings strategies and tips to help achieve goals.
• Access to low- or no-fee savings products.
Benefits for Financial Institutions
• Opportunity to grow a new customer base.– WesBanco has 3,091 special WesBanco Saves accounts
totaling $7,325,481.42 in deposits.
• Potential to increase current deposit balances.• Opportunities to increase at-work presentations.• Expansion of community engagement.• Increased media and public recognition.• Promotion of automatic savings and direct
deposit.• Name recognition among organizations in need
of financial education.• Consideration under the CRA by your regulator.
Benefits for Employers
• A benefit that can be offered at no cost to the company.
• Happier, healthier employees.
• Improved employee productivity.
• A service that can be offered at no
cost to the organization.
• A way in which the quality of life of
clients, customers, students, customers, students,
members, participants, etc. members, participants, etc. can be
improved.
• Improved financial well-being of the
communities served.
Impact of Lack of SavingsBenefits for Community Partners
Ways to Participate
Incorporate West Virginia Saves sign-up as part Incorporate West Virginia Saves sign-up as part of your day-to-day business practices.of your day-to-day business practices.• Pre-printed sign-up forms are available.Pre-printed sign-up forms are available.• A sign-up section can be added to documents A sign-up section can be added to documents
you already use.you already use.
Participate in West Virginia Saves WeekParticipate in West Virginia Saves Week
Next Steps
Sign up to participate in America Saves Sign up to participate in America Saves Week.Week.
Download resources from America Saves Download resources from America Saves and plan your event(s).and plan your event(s).
Begin to train frontline people to sign up Begin to train frontline people to sign up savers.savers.
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