Uniting financial well-being with collective action
This week, SaverLife goes national. More than 80,000 working Americans have joined our online community in the past year and this month all of them become SaverLife members.
By the end of 2017, SaverLife will be providing digital financial coaching content, access to resources, and small-dollar cash incentives for regularly setting aside savings to a vibrant community of over 100,000 low-income Americans. We expect that number to rise to 250,000 over the next two years.
SaverLife emerged from our desire to listen and respond to our growing base of users.
When we launched our online savings tools last year, one group intrigued us: Members who had signed up online but hadn’t saved a dime. Why did they sign up for a savings program if they had no intention of starting to save?
The primary reason surprised us:
“I joined to become a Saver. That is who I want to be in the future, but I can’t quite get there today. Is there more you can do to help me?”
We began to envision an experience that goes beyond saving, to imagine a powerful online community designed specifically to empower low-to-moderate income people to take control of their financial lives. This vision became SaverLife.
SaverLife is working. People are saving. Often for the first time in their lives.
SaverLife members are saving for many goals – some inspiring, some heart-breaking, but all of them represent the courageous steps that thousands of people are now taking towards building a better life.
However, the most powerful element of SaverLife is the opportunity to turn individual experience into collective action, to raise awareness of systemic issues in our financial system directly to the consumers most impacted, and to give voice to those who are so often overlooked.
As our members share their stories of success, they change not just their own lives but the lives of those around them.
SaverLife simultaneously increases financial wellness for our members and amplifies tens of thousands of individual voices into one collective call to action. As we listen and respond to the experiences, needs, and ideas of our members, our work to create a fair and equitable economy will be strengthened and our communities empowered. This is what it means to Buy into Our Community.
Thank you for working with us to make SaverLife a reality.
Leigh is the president and CEO of EARN.