AMERICA SAVES RELEASES THE 2023 DESIGNATION OF SAVINGS EXCELLENCE AWARD LIST TO HONOR FINANCIAL INSTITUTIONS FOR CONTRIBUTIONS MADE DURING MILITARY SAVES WEEK 2023
The Award Honors Banks and Credit Unions that Reported the Highest Increased Savings Activities Among Consumer Base
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AMERICA SAVES RELEASES THE 2023 DESIGNATION OF SAVINGS EXCELLENCE AWARD LIST TO HONOR FINANCIAL INSTITUTIONS FOR CONTRIBUTIONS MADE DURING MILITARY SAVES WEEK 2023
The Award Honors Banks and Credit Unions that Reported the Highest Increased Savings Activities Among Consumer Base
(WASHINGTON, D.C.) July 31, 2023 — America Saves announced today the recipients of its coveted Designation of Savings Excellence (DOSE) Award, an award designed specifically to honor financial institutions with the greatest impact during Military Saves Week. The honorees were chosen from hundreds of credit unions and banks that participated in the week-long celebration to encourage the service members in their audience to hit pause and check in on their finances.
“As protectors of our nation, the stability of our military families must be centered, and financial stability is an ongoing factor in military readiness,” said Kia McCallister-Young, director of America Saves. “Our current economy—with inflation, workplace shifts, and housing crises—has caused a compounded financial strain on the most vulnerable among us, including the military community at-large. Having financial institutions that are committed to changing the narrative and providing practical strategies, tips, and resources that move people to action is essential in the strength of our Armed Forces. Getting a front-row seat in seeing how these banks and credit unions go above and beyond for military families is a true honor. It is with great joy that we get the opportunity to recognize their profound work and impact.”
The impact of Military Saves Week 2023 spanned not only across the country but also the globe, impacting more than 16.4M individuals and reaching as far as Germany, South Korea and Japan. In addition to reaching millions of individuals, participating financial institutions also reported a deposit total of $108,445,911.26 into new and existing savings or wealth-building accounts. All participating banks and credit unions were considered for the DOSE Award with final honors bestowed upon those that recorded the highest number of new accounts opened and the most amount deposited into new or existing savings accounts.
“No matter where they are stationed or deployed around the world, the financial wellness of our military clients remains top of mind. We’re always striving to provide the best banking solutions to help our members save and build financial security,” said Tom McLean, Senior Vice President and Regional Military Executive for Armed Forces Bank. “We want to be a constant savings resource for our clients, and we thank Military Saves and the Consumer Federation of America for instilling and recognizing positive savings habits around the world.”
In addition to the DOSE award, America Saves also unveiled its new Community Impact Award, a special honor recognizing efforts made to encourage savings goals through the use of the Military Saves Pledge. The winner—Armed Forces Bank—was determined based on the total number of pledges taken by their community members.
To learn more about Military Saves and year-round efforts to support service members and their families, visit https://militarysaves.org/.
2023 Military Saves Designation of Savings Excellence Recipients
Banks
First Arkansas Bank & Trust
First Horizon
Armed Forces Bank
USAA
Credit Unions
Community Resource Federal Credit Union
New Horizons Credit Union
Navy Federal Credit Union
2023 America Saves Community Impact Recipient
Armed Forces Bank
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About America Saves
America Saves is an initiative of the nonprofit Consumer Federation of America that empowers individuals—especially the most vulnerable and marginalized populations—to build financial confidence through realistic and easy-to-implement strategies that allow for saving, reducing debt and getting on a path to building wealth.
Using a Personal Values Led™ approach, America Saves provides resources, training, content and campaigns such as America Saves Week and Military Saves Week that motivate and encourage individuals to take action toward positive financial habits. Since its inception, nearly one million individuals have been impacted by America Saves and each year, almost 12,000 organizations partner with America Saves to utilize and amplify resources and programming. Learn more at americasaves.org.