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 24 to 29. Activities will promote 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 Acting Commissioner Karima Woods. “When residents create emergency funds or start saving for retirement or college, they are taking important steps towards a healthier and more resilient financial future.”
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. This also will include free tax preparation for eligible residents that DISB will provide in partnership with United Way of the National Capital Area. District residents will also be encouraged to take advantage of DISB’s Financially Fit DC and Bank on DC programs. Financially Fit DC offers free financial education tools and resources to help individuals take control of everyday finances. 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.
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. Through the support and participation of companies, nonprofits, educational institutions, military services, government agencies and financial institutions, over 40,000 Americans committed to save $145 million in 2019; participating banks and credit unions reported that 246,677 people deposited over $505 million in savings.
For more information about events and resources that will be offered throughout the week, visit:
Participate in Twitter chats and savings challenges: #ASW20 @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.