training 2016. lindsay ferguson america saves america saves local campaign coordinator melissa...
TRANSCRIPT
Training 2016
Lindsay FergusonAmerica Saves
America Saves Local Campaign Coordinator
Melissa GoldbergDoorways to Dreams (D2D) Fund
Innovation Strategist
Agenda
WHO IS D2D FUND?
WHO IS AMERICA SAVES?
WHAT IS SaveYourRefund (SYR)?
WHY IS SYR IMPORTANT?
HOW DOES SYR WORK?
WHAT’S NEXT?
D2D Fund is a 501(c)(3) non-profit based in Boston, Massachusetts
D2D strengthens the financial opportunity and security of financially vulnerable consumers by discovering
ideas, designing solutions, pilot testing and evaluating, and driving to scale
Discover and generate new ideas
Design and build solutions
Pilot and evaluate designs
Drive innovations to scale
D2D Fund is a 501(c)(3) non-profit based in Boston, Massachusetts
You may know us from:
Prize-Linked Savings Products Save to Win™, CSAs, Prepaid Cards
Policy Work Form 8888, American Savings Promotion Act (2014), SAVINGS Act (2015)
Financial Video Games & Gamified Tools Financial Entertainment, Ramp It Up!
Consumer Research ZMET Study, RAND White Paper, Government-Backed Retirement Product Field Research
Agenda
WHO IS D2D FUND?
WHO IS AMERICA SAVES?
WHAT IS SaveYourRefund (SYR)?
WHY IS SYR IMPORTANT?
HOW DOES SYR WORK?
WHAT’S NEXT?
Consumer Federation of America is located in Washington, D.C., and was founded in 1968. It is an association of close to 300 nonprofit pro-consumer groups including Consumers Union, AARP, credit unions, housing co-ops, and grassroots organizations.
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.
About Us
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
• 66 established and developing local campaigns in 32 states
• Segment to focus on military & employees
• Support the organizing of a wide range of stakeholders and service providers to positively impact their constituents with now more than 440,000 people pledging to save. Top goals over the past 5 years include Emergency fund (25%), Education (17%), Debt Repayment (9%), & Consumer Product (6.34%)
• Provide materials, resources, website, data base and infrastructure to support the organizational effort and to individual savers
• Work with financial institutions to provide no fee and low opening balance savings accounts
• Organize America Saves Week, the last week in February, as a national call to positive financial action
How America Saves Encourages Saving
The Pledge
I pledge to savemoney, reduce debt,and build wealth over
time.
I will encourage myfamily and friendsto do the same.
America Saves Week
February 22 – February 27, 2016
America Saves Week
• Annual opportunity for organizations to encourage savings and individuals to assess their savings.
• Started in 2007• Over 1,900 participating organizations in 2014• Reaching 35 million individuals
Agenda
WHO IS D2D FUND?
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 Drawings10 entries are drawn each
week for $100
Grand Prize1 winner from the photo contest will win $25,000
$35,000 in total prizes!
Agenda
WHO IS D2D FUND?
WHAT IS SaveYourRefund (SYR)?
D2D AND AMERICA SAVES PARTNERSHIP
WHY IS SYR IMPORTANT?
HOW DOES SYR WORK?
WHAT’S NEXT?
D2D and America Saves
SYR 2016 will be administered as a partnership between D2D Fund and America
Saves
D2D: Technical support and prize administration
Manage website, manage sweepstakes and grand prize contest
America Saves: Partner management, communications, and promotion
Communicate regularly with partners, verify winners, answer questions,
social media
Same structure and program from previous years expanded to even more
partners
America Saves as main point of contact for partners
Agenda
WHO IS D2D FUND?
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
Consumers purchase 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
17%
23%
41%
18%
How important was the prospect of winning a prize when making the decision to save this tax season?
Not importantNot very importantVery importantExtremely important
59% said the incentives were “very important” or “extremely important” in leading them to save!
Agenda
WHO IS D2D FUND?
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
18%
23%
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:
QUALIFICATIONS
Savings Account and CDs
IRA Savings Bondand Treasury Direct
Prepaid CardmyRA
The weekly drawing is easy 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 every Friday from February 12 – April 15
HOW TO ENTER
Web entry takes less than 2 minutes
1 2 3 4Contact Info Saving Info Survey Info Confirmation!
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)
The grand prize is awarded from a photo contest
There are two ways to enter $25,000 will be awarded for one photo To win the grand prize, you MUST enter the weekly drawings
1 Upload your photo to the website:www.SaveYourRefund.com/grandprize
2 Text SAVE to 313131 and follow the instructions to submit
HOW TO ENTER
The grand prize winner is selected on several criteria
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
PHOTO CONTEST WILL FOCUS ON SAVING
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 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 America Saves
(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 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 ENSURE SYR IS A SUCCESS?
WHAT’S NEXT?
Use the promotional materials available on SaveYourRefund.com
Wondering how to enter @SaveYourRefund for your chance at $25,000 or the weekly $100? Easy-peasy! #SaveYourRefund
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
Engage clients in the weekly drawings and grand prize contest
Mailings/emails before and during tax season
OPPORTUNITIES TO ENGAGE CLIENTS
Flyers or computer terminals in lobbies
Walk around and sign people up
During quality review
At intake
With tax preparer
Savers can then enter at home or at the tax site.
Engage staff and volunteers with vision, training and incentives
OPPORTUNITIES TO ENGAGE STAFF
Training Contests
Access the different resources in the SYR Tool Kit to promote SaveYourRefund
TOOL KIT
Training webinar Volunteer and Staff cheat sheet
Traditional FAQ document
Marketing material
Agenda
WHO IS D2D FUND?
WHAT IS SaveYourRefund (SYR)?
WHY IS SYR IMPORTANT?
HOW DOES SYR WORK?
WHAT’S NEXT?
How can you get involved?
Show your commitment!Become an official Partner or Friend of SaveYourRefund:www.saveyourrefund.com/partners
Stay connected!Follow us on Twitter @SaveYourRefund and email [email protected] with any questions
WHAT YOU CAN DO
Visit our website!Keep an eye on www.saveyourrefund.com for updates and marketing materials
Lindsay FergusonAmerica Save Local Campaign Outreach
CoordinatorAmerica Saves
Questions?
Melissa GoldbergInnovation Strategist
Thank you!