(Washington, DC)—The District of Columbia Department of Insurance, Securities and Banking (DISB) is planning a series of events to encourage District residents to adopt better saving habits as part of America Saves Week, February 22 to 26. Activities will promote free, interactive programs such as Bank on DC and Financially Fit DC designed for Washingtonians of all ages and income levels.
“In keeping with Mayor Bowser’s vision for inclusive prosperity, DISB will use America Saves Week to raise awareness about the importance of saving, and reducing debt,” said DISB Commissioner Karima M. Woods. “With so many Washingtonians still reeling from the financial crisis caused by the coronavirus (COVID-19) public health emergency, this week is a great opportunity to focus on the importance of emergency savings and saving automatically.”
During American Saves Week, DISB and its partners will provide District residents with tools to help reach their full financial potential, including information on automatic savings, financial planning, debt reduction, and saving for unexpected expenses and retirement. District residents will also be encouraged to take advantage of DISB’s Bank on DC and Financially Fit DC programs. Bank on DC is a collaborative effort between the District government, financial institutions and nonprofits to provide low and no-cost access to financial services and financial education to unbanked and under-banked households. Bank on DC is a great resource for residents looking to establish a banking relationship for the first time or as a second chance. Financially Fit DC offers free financial education tools and resources to help individuals take control of everyday finances.
America Saves Week is managed by the non-profit Consumer Federation of America (CFA). The week is an annual celebration as well as a call to action for Americans to commit to saving. During America Saves Week 2020, more than 1,300 organizations reached 1.2 million Americans, supporting their individual commitments to save more successfully. Participating banks and credit unions reported that savers deposited more than $363.8 million as a direct result of their America Saves Week efforts.
For more information about events and resources that will be offered throughout the week, visit:
Participate in Twitter chats and savings challenges: #ASW21 @DCDISB @BankonDC @AmericaSaves.
Our mission is three-fold: (1) cultivate a regulatory environment that protects consumers and attracts and retains financial services firms to the District; (2) empower and educate residents; and (3) support the development and expansion of business.