AMERICA SAVES TOWN HALL TO HIGHLIGHT BARRIERS TO HOMEOWNERSHIP & HOW TO OVERCOME THEM

PRESS ADVISORY FOR IMMEDIATE RELEASE: July 16, 2021
Contact: Kia Young, Kyoung@consumerfed.org

Event Open to Media—See Speakers Below

The Nonprofit Will Also Give Away Cash Prizes Through Sweepstakes and Provide Free Financial Counseling to All Who Attend                                   

Washington, D.C. — On Thursday, July 22nd at 7 p.m. ET, America Saves is hosting “#ThinkLikeASaver: Buying Your First Home,” the latest in a very popular and well-attended virtual Town Hall series which began as a way to help everyday Americans work toward better financial stability in the wake of the COVID-19 pandemic.

Since its inception in Fall 2020, the series has collectively been viewed by over 40,000 participants and growing. Amelia O’Rourke-Owens, Associate Director of America Saves, credits the program’s success to its ability to meet consumers where they are. “Our engaged and growing audience reflects our commitment to developing an empowered and informed saver. To reduce debt and build wealth, our savers must have financial confidence, and each Town Hall grows that confidence in our savers.”

The virtual Town Hall will focus on guiding first-time homebuyers through the process of purchasing a home, starting with assessing if homeownership is the right fit for them. It will also directly speak to the existing disparities that make homeownership less attainable for people of color and how to overcome those barriers. Savers will also receive information, strategies, and helpful resources to prepare for homeownership and shop for a lender.

“We’ve witnessed the financial stressors people have gone through with the pandemic, and we hear the need from our savers for easy-to-implement information. In tracking trends and research, we’ve determined that offering a combination of cash and intervention helps develop positive financial habits and provides some relief to feelings of financial stress,” said George Barany, Director of America Saves. “By offering our sweepstakes, free financial counseling, and the abundance of resources that will be a part of the Town Hall, America Saves is making an impact in the daily lives of individuals and families — getting us a bit closer to our mission every single day.”

Attendees will be able to enter the #ThinkLikeASaver Sweepstakes and win one of five $500 cash prizes aimed at jump-starting their savings toward a downpayment. Additionally, America Saves has partnered with AFCPE® and the Coordinated Assistance Network to provide all attendees free financial coaching or counseling.

Both opportunities are made possible by the generous donations and support of Edelman Financial Engines, AFCPE®, Digital Federal Credit Union, Bank of America, Wells Fargo, and JP Morgan Chase.

“We are proud to partner with America Saves to bring education and opportunity to those who need it most,” said Kelly O’Donnell, Executive Vice President of Edelman Financial Engines and head of its Workplace business, which serves thousands of employers and more than 10 million employees.  “Homeownership is one of the most exciting yet intimidating goals for consumers. The America Saves Town Hall will give consumers the confidence to make informed financial decisions and help demystify the topic for those who dream of buying a home.”

The #ThinkLikeASaver virtual Town Hall series brings together dynamic speakers, industry leaders, subject matter experts, and influencers to give realistic and tangible strategies on saving, while recognizing the hardships and barriers that the Coronavirus has both ushered in and exacerbated, like unemployment, reduced income, and systemic racism.

Of Special Interest to Consumer and Financial Media

Speakers during the Town Hall include Stephanie Williams, Deputy Director, Office of Outreach and Capacity Building at HUD; Clarence Haynes, Financial Education Instructor of Edelman Financial Engines; Mitria Wilson-Spotser, Director of Housing Policy, Consumer Federation of America; and Natalie Campisi, Mortgage & Housing Analyst, Forbes Advisor.

The event is open to the media. To listen in, reporters can register here: America Saves Town Halls.

America Saves is a campaign managed by the nonprofit Consumer Federation of America that uses the principles of behavioral economics and social marketing to motivate, encourage, and support low-to-moderate income households to save money, reduce debt, and build wealth. America Saves encourages individuals and families to take the America Saves pledge and organizations to promote savings year-round and during America Saves Week. Learn more at americasaves.org.