Savings enable consumers to withstand unexpected expenses or income disruptions, in addition to also funding large expenditures, such as the purchase of a home or college education. Research indicates that people who save have better relationships with family and neighbors and increased community involvement. This page provides savings-related resources for financial institutions, community-based organizations, and others.

Speeches by Senior FDIC Executives

• Remarks by FDIC Chairman Sheila Bair on March 2, 2007 on ways to potentially further promote personal savings on a national level.
• Remarks by FDIC Chairman Sheila Bair on October 1, 2007 before the National Community Tax Coalition Biennial Conference.

FDIC Educational Resources
The award-winning FDIC Money Smart financial education program includes the Pay Yourself First module that specifically addresses saving. Pay Yourself First provides information on the importance of saving, tips on saving money, and options available to reach savings goals. Money Smart is available in an instructor-led version for adults, an instructor-led version for young adults, and in a self-paced online version.

FDIC Consumer News is a quarterly publication that provides practical financial tips and information. Practically every issue includes information on how people can save more money and make sure all their deposits are fully protected. For example, the article It's Amazing: How a Small Savings Account Can Get Big Over Time explains how saving even small amounts of money can result in a substantial sum over time.

Selected External Resources
MyMoney.gov is the federal government's one-stop website that provides financial education resources from more 20 federal agencies. The Savings & Investing page provides a comprehensive catalog of resources from federal agencies on saving and investing.
The Department of Labor (www.dol.gov) site provides information for owners of small business on various retirement plan options.

FDIC Research
Building Assets, Building Relationships: Bank Strategies for Encouraging Lower-Income Households to Save
Not surprisingly, low- and moderate-income (LMI) households have the most difficulty saving. This FDIC Quarterly article explains the challenges LMI households face in building assets and examines the incentives banks have for encouraging these customers to save. The article also describes some strategies banks have used to build profitable relationships that also benefit lower-income consumers.

Individual Development Accounts and Banks: A Solid "Match"
A particular type of savings account, the Individual Development Account (IDA), is a relatively low risk way for banks to introduce American households who do not currently use the banking system to banking services and products that are offered. This FDIC Quarterly article explains how IDAs operate, describes banks’ experience with IDAs, and points bankers to sources of information about these programs.

Other Resources

• Access handouts and presentations from the FDIC Advisory Committee on Economic Inclusion (ComE-IN) Meeting on Asset Building Opportunities for Individuals and Banks.
• Press Release: FDIC Encourages Taxpayers to Take Advantage of IRS Programs and Save More of Their Refunds
• Letter alerting financial institutions to the opportunity to be involved with Volunteer Income Tax Assistance (VITA) coalitions before the start of tax season, including to help facilitate ways to encourage taxpayers to save a portion of their tax refund.

FDIC Technical Assistance
FDIC leads or otherwise participates in numerous local saving and asset-building initiatives, including through the Alliance for Economic Inclusion (AEI). For further details, please contact your local Community Affairs Office.