America Saves announced InTouch Credit Union (ITCU) as one of 13 recipients of the 2022 America Saves Designation of Savings Excellence (DOSE) award. Of the 621 participating financial institutions in America Saves Week 2022, six banks and seven credit unions were recognized for their significant impact.
The campaign is managed by the nonprofit Consumer Federation of America, which 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.
The coveted honor highlights banks and credit unions that made an extraordinary effort to promote positive saving behaviors and took actions to improve the financial stability of those in their community during the annual America Saves Week campaign.
"We are very pleased to receive this award as it stands for the impact we aim to have on our member’s lives,” said Kent Lugrand, CEO of InTouch Credit Union. “These are difficult times for many Americans, and we’re committed to doing everything possible to help them stay in charge of their lives financially.”
“After so many lives were changed from the pandemic, then combined with rising housing costs and inflation, it’s important to aid people’s lives through financial stability. We genuinely want what's best for our members and have their best interest at heart.”
The America Saves annual campaign enables partnering organizations and financial institutions to reach their communities with resources to build financial wellbeing. This involves encouraging individuals to open savings accounts, set up automatic savings and create financial goals.
The participating organizations, including ITCU, encouraged nearly 415,000 individuals to set up a new savings account or deposit into an existing savings account, depositing a total of $1,134,122,355.56 during a one-week timeframe. Additionally, more than 200,000 individuals set up automatic savings or increased the amount they save automatically.
In addition to the DOSE award, ITCU continues to impact lives through its $1 million drive to combat food insecurity. Their food insecurity campaign, along with other community support, continues to show how the credit union is committed to doing “good” for others.