Training 2017

Lindsay Ferguson America Saves Melissa Goldberg Commonwealth

Agenda WHO IS COMMONWEALTH? WHO IS AMERICA SAVES? WHAT IS SaveYourRefund (SYR)? WHY IS SYR IMPORTANT? HOW DOES SYR WORK? WHAT’S NEXT?

solutions and driving innovations to scale. D2D Fund is now Commonwealth At Commonwealth, we believe lasting social and economic prosperity requires that everyone has wealth – of opportunity, of tools, and of financial assets. Commonwealth strengthens the financial opportunity and security of financially vulnerable people by discovering ideas, piloting solutions and driving innovations to scale.

We build innovative solutions that help people overcome a number of financial challenges. Savings Prizes Uncertain Income & Expenses Gamification Debt Rules of Thumb Financial Capability National Civic Savings

Agenda WHO IS COMMONWEALTH? WHO IS AMERICA SAVES? WHAT IS SaveYourRefund (SYR)? WHY IS SYR IMPORTANT? HOW DOES SYR WORK? WHAT’S NEXT?

About Us America Saves seeks to motivate, encourage, and support low- to moderate-income households to save money, reduce debt, and build wealth. The research-based campaign uses the principles of behavioral economics and social marketing to change behavior.

America Saves and Local America Saves Campaigns Seek to motivate individuals to save effectively and build a culture of saving Encourage continued good savings behavior by promoting financial action Act as a trusted source of information for the community Have individuals to Pledge to Save Partner with community organizations to increase reach 60+ established and developing local campaigns in 32 states Segment to focus on military & young workers At America Saves We seek to motivate individuals to save money reduce debt and build wealth. We do this by encouraging them to take financial action. – like setting up an automatic way to save or opening a retirement acount, college savings or other savings account. America Saves also Acts as a trusted source of information for the community and we encourage individuals to pledge to save. We reach individuals by partnering with community organizations, nonprofits, financial institutions, government agencies and others We also have 66 local america saves campaigns in 32 states.

The Pledge I pledge to save money, reduce debt, and build wealth over time. I will encourage my family and friends to do the same.

February 27 –March 4, 2017 And each year along with the the American Savings Education Council. we host america saves week. Started in 2007, the Week is an annual opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own saving status. Typically thousands of organizations participate in the Week, reaching millions of people.

America Saves Week Annual opportunity for organizations to encourage savings and individuals to assess their savings. During Tax Season 2016 over 2,000 organizations participated Over 40,000 individuals took the Pledge 34 million individuals reached One of our main strategies to encourage individuals to save is America Saves Week. America Saves Week is an annual opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own saving status. The Week started in 2007 with only 12 organizations it has now grown to over 1,900 this past year, reaching over 35 million people.

Agenda WHO IS COMMONWEALTH? WHO IS AMERICA SAVES? WHAT IS SaveYourRefund (SYR)? WHY IS SYR IMPORTANT? HOW DOES SYR WORK? WHAT’S NEXT?

SaveYourRefund (SYR) is a national promotion to incentivize tax-time saving 101 chances to WIN! All you need to do? Save a minimum of $50 from your federal tax refund. Weekly Drawings 10 entries are drawn each week for $100 Grand Prize 1 winner from the photo contest will win $25,000 $35,000 in total prizes!

Meet the 2016 Winner: Ebony Brown-Parks Share brief notes about Ebony’s story to capture attention

Agenda WHO IS COMMONWEALTH? WHO IS AMERICA SAVES? WHAT IS SaveYourRefund (SYR)? COMMONWEATLH AND AMERICA SAVES PARTNERSHIP WHY IS SYR IMPORTANT? HOW DOES SYR WORK? WHAT’S NEXT?

Commonwealth and America Saves SYR 2017 is a partnership between Commonwealth and America Saves Commonwealth: Technical support and prize administration Manage website, verify winners, manage sweepstakes and grand prize contest America Saves: Partner management, communications, and promotion Communicate regularly with partners, answer questions, blog posts, and social media Same structure and program from previous years America Saves as main point of contact for partners

Agenda WHO IS COMMONWEALTH? WHO IS AMERICA SAVES? WHAT IS SaveYourRefund (SYR)? WHY IS SYR IMPORTANT? HOW DOES SYR WORK? WHAT’S NEXT?

SYR is an opportunity to encourage over 110 million American households to save The Challenge The Opportunity The Outcome About 27% of people have NO emergency savings 50% have less than 3 months of savings Most people have already spent their refund before they get it $300 Billon of federal tax refund are awarded/year Refund represent up to 20% of income for LMI households Over 110 Million households receive a refund Form 8888 lets people save part of their refund Many options to save, like Series I U.S. Savings Bonds Consumers have FUN and get INCENTIVES to save!

Incentives make saving FUN and encourage people who otherwise wouldn’t have considered saving their refund 59% said the incentives were “very important” or “extremely important” in leading them to save!

Agenda WHO IS COMMONWEALTH? WHO IS AMERICA SAVES? WHAT IS SaveYourRefund (SYR)? WHY IS SYR IMPORTANT? HOW DOES SYR WORK? WHAT’S NEXT?

Agenda WHO IS D2D FUND? WHAT IS SaveYourRefund (SYR)? WHY IS SYR IMPORTANT? HOW DOES SYR WORK? HOW DO YOU ENTER? WHAT HAPPENS IF YOU WIN? HOW DO WE GET INVOLVED? HOW DO WE ENSURE SYR IS A SUCCESS? WHAT’S NEXT?

Most everyone who receives a federal tax refund is eligible for SYR QUALIFICATIONS Over 18 years of age Eligible for a federal tax refund Uses Form 8888 to split refund Saves at least $50 in to one of the following: 18% 23% Savings Account and CDs IRA Savings Bond and Treasury Direct Prepaid Card myRA

Just visit https://saveyourrefund.com/enter/ to enter! The weekly drawing is easy to enter HOW TO ENTER Just visit https://saveyourrefund.com/enter/ to enter! Winners are chosen through random selection Entrants stay in the pool from the day they enter until the date of the last drawing Entrants can win both a weekly drawing and the grand prize Drawings occur on Fridays throughout tax season

Web entry takes less than 2 minutes 1 Contact Info 2 Saving Info 3 Survey Info 4 Confirmation!

Fields on the Weekly Sweepstakes entry form: The entry requires little information Fields on the Weekly Sweepstakes entry form: First and last name Phone number AND/OR email Zip code State Tax preparation site/method Total amount of refund Amount deposited in each account Type of each account used Amount used to purchase bonds (if applicable)

HOW TO ENTER The grand prize is awarded through a photo contest $25,000 will be awarded for one photo To win the grand prize, you MUST enter the weekly drawings HOW TO ENTER 1 Upload your photo to the website: www.SaveYourRefund.com/grandprize 2 Fill out the required, brief caption

PHOTO CONTEST WILL FOCUS ON SAVING The grand prize winner is selected on several criteria PHOTO CONTEST WILL FOCUS ON SAVING Photo and brief (250-word) caption must be submitted and will be evaluated based on: Caption’s relation to the theme Photo’s connection to the caption and theme Photo’s composition

Agenda WHO IS COMMONWEALTH? WHO IS AMERICA SAVES? WHAT IS SaveYourRefund (SYR)? WHY IS SYR IMPORTANT? HOW DOES SYR WORK? HOW DO YOU ENTER? WHAT HAPPENS IF YOU WIN? HOW DO WE ENSURE SYR IS A SUCCESS? WHAT’S NEXT?

Weekly drawing winners must have their Form 8888 verified Weekly winners (or their tax site) will be contacted by Commonwealth (e-mail or phone) 1 “Potential Winners” must submit Form 8888 for verification (and be qualified to win) 2 Checks will be sent via mail to all winners 3

Agenda WHO IS COMMONWEALTH? WHO IS AMERICA SAVES? WHAT IS SaveYourRefund (SYR)? WHY IS SYR IMPORTANT? HOW DOES SYR WORK? HOW DO YOU ENTER? WHAT HAPPENS IF YOU WIN? HOW CAN YOU MAKE SYR IS A SUCCESS? WHAT’S NEXT?

Use the promotional materials available on SaveYourRefund Use the promotional materials available on SaveYourRefund.com & AmericaSavesWeek.org Wondering how to enter #SaveYourRefund for your chance at $25,000 or the weekly $100? Easy-peasy!   www.saveyourrefund.com We Want to Know: Tell us what you would do with a $25,000 Grand Prize, and don’t forget to enter for your chance to win it! https://www.saveyourrefund.com/grandprize

OPPORTUNITIES TO ENGAGE CLIENTS Engage clients in the weekly drawings and grand prize contest OPPORTUNITIES TO ENGAGE CLIENTS Mailings/emails before and during tax season Flyers or computer terminals in lobbies Walk around and sign people up At intake With tax preparer During quality review Savers can enter at home or at the tax site.

OPPORTUNITIES TO ENGAGE STAFF Engage staff and volunteers with vision, training and incentives OPPORTUNITIES TO ENGAGE STAFF Training Contests

WAYS TO ENCOUAGE SAVING

Volunteer and Staff cheat sheet Traditional FAQ document Resources in the Tool Kit to promote SaveYourRefund TOOL KIT Training webinar Volunteer and Staff cheat sheet Traditional FAQ document Marketing material

Agenda WHO IS COMMONWEALTH? WHO IS AMERICA SAVES? WHAT IS SaveYourRefund (SYR)? WHY IS SYR IMPORTANT? HOW DOES SYR WORK? WHAT’S NEXT?

WHAT YOU CAN DO How can you get involved? Show your commitment! Become an official Partner of SaveYourRefund: www.saveyourrefund.com/partners Visit our website! Keep an eye on www.saveyourrefund.com for updates and marketing materials Stay connected! Follow @AmericaSaves and @buildcommwealth and email info@saveyourrefund.com with any questions

Questions? Thank you! Lindsay Ferguson Melissa Goldberg America Saves lferguson@consumerfed.org Melissa Goldberg Commonwealth mgoldberg@buildcommonwealth.org