(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 21 to 25. 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 to give all residents a #FairShot, DISB will use America Saves Week to raise awareness about the importance of saving, and reducing debt,” said DISB Commissioner Karima M. Woods. “This week is a great opportunity to focus on the importance of emergency savings and saving automatically. I encourage residents to take full advantage of our financial empowerment programs.”
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 these DISB programs:
- Bank on DC, which 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;
- Financially Fit DC, which offers free financial education tools and resources to help individuals take control of everyday finances; and
- the Opportunity Accounts Program, which is a matched savings program that helps qualified District residents save up to $7,500.
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. Despite the economic downturn caused by the COVID-19 pandemic, during America Saves Week in 2021, individuals deposited nearly $159 million into new and existing savings accounts, and more than 300,000 individuals reported either opening new savings accounts or adding to their existing accounts.
For more information about events and resources that will be offered throughout the week, visit:
Participate in Twitter chats and savings challenges: #ASW22 @DCDISB @BankonDC @AmericaSaves.
The mission of the Department of Insurance, Securities, and Banking (DISB) 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 on financial matters; and (3) provide financing for District small businesses.