Written by Los Angeles Saves Campaign Coordinator
Los Angeles Saves launched its fifth campaign year in 2019. The campaign was initiated in 2015 by the FDIC Los Angeles Alliance for Economic Inclusion (AEI), which is composed of financial institutions, nonprofit organizations, and government agencies that recognized the importance of saving in its economic inclusion endeavors. Los Angeles Saves was the first campaign to launch in both English and Spanish with a primary purpose of reaching low- and moderate-income communities.
Los Angeles Saves annual activities are launched during America Saves Week in numerous Los Angeles Public Libraries located in lower income neighborhoods as well as being promoted at various Volunteer Income Tax Assistance (VITA) sites managed by nonprofit agencies that participate in the AEI. The campaign has support throughout the community. For the last five years Los Angeles Saves has had the distinct honor of receiving LA Saves Week proclamations from Los Angeles Mayor Eric Garcetti, and this year the Los Angeles County Board of Supervisors also issued a countywide proclamation.
Los Angeles Saves teams made up of volunteers from financial institutions and local non-profits also conduct financial education workshops using the FDIC Money Smart financial education curricula throughout the year. Since January 2019, Los Angeles Saves teams have already participated in 32 events.
Saving for emergencies is an essential element for financial capability and 45 percent of LA Savers are pledging to save for their emergency fund and an additional 15 percent are saving to reduce their debt. These figures confirm that we are reaching our target market!
The framework and support that America Saves provides has guided Los Angeles Saves to the success it has achieved, particularly, by launching Los Angeles Saves in Spanish. We are very grateful!!
