Resources: Publications

SaveYourRefund 2014: Savers' Stories

It is well-known that tax time offers an important opportunity to save for many American households. Every year, 300 billion dollars flows in federal refunds, with over $100 billion going to those living on $50,000 or less in household income.

Bringing Financial Entertainment to America

Traditional Financial Education is boring. It’s not just our opinion: Millions of Americans struggle to engage with personal finance concepts, not because they are unimportant, but because doing so feels too tedious  and dull to be worth the effort. But it doesn’t have to be this way.

Design Recommendations for myRA, a New Savings Product for Financially Vulnerable Consumers

1018 According to a survey fielded by D2D, consumers have positive initial reactions to a new savings product, myRA, that has been released by U.S. Treasury Department. myRA is intended to help first-time and small-dollar savers set aside savings directly from their paychecks.

Press Release: Doorways to Dreams Fund Innovation Provided a Model for New Law To Help Address Crisis & Help Americans Increase Personal Savings

Cash. And prizes. And personal savings. Turns out, you can have them all, thanks to a new law that clears the way for financial institutions to offer cash prizes as incentives to get people to save money. In a nation where one in four Americans have no emergency savings and two-thirds could not cover six months’ basic needs, this innovation can help ameliorate a national crisis in savings.

Save to Win Impact 2009-2013

In 2013 Save to Win, the nation’s first large-scale prize-linked savings product, expanded to include credit unions in Washington and North Carolina.

Capital One Student Banking Program: Pilot Testing of Financial Entertainment

D2D has released a report with the results of a pilot studying the role of Financial Entertainment in the classroom.  Over 100 students and teachers participated in the pilot, generously supported by Capital One.

Split, Save, Win: A Reflection on SaveYourRefund 2014

“Split, Save, Win: A Reflection on SaveYourRefund 2014” highlights the approach and successes of SaveYourRefund’s second year. The campaign generated a nearly 400% increase in both dollars saved and number of entries while engaging over 75 community tax preparation sites in its efforts.

Statement for the Record – United States Committee on Financial Services

D2D cofounder Peter Tufano submitted a Statement for the Record in connection with the July 15, 2014 hearing before the House Committee on Financial Services Subcommittee on Financial Institutions and Consumer Credit.

Save To Win Impact: 2013 Overview

In 2013 Save to Win, the nation’s first large-scale prize-linked savings product, expanded to include credit unions in Washington and North Carolina. It also entered its fifth year in Michigan and second in Nebraska. This brief contains full results and key highlights from Save to Win in 2013, including:

--The program continues to engage the target population: Across the states, 62-81% of account holders were financially vulnerable.
-- Overall, between 81-85% of participants rolled over their accounts between years.
-- Since the product was first offered in 2009, 50,000 account holders have collectively saved $94MM. 
-- In 2013 average account balances ranged from $921-$2,662. 

 

Save To Win Impact: Michigan 2013

The Michigan Save to Win program completed its fifth year in 2013. This brief contains key highlights and findings from the product as it matures in state, including:

-- The product was offered in 38 credit unions and there were 12,531 active accounts, the collective year-end savings was $33,060,275.
-- 33% of accounts earned more than one entry per month, showing a commitment to frequent saving.
-- 6% of accountholders joined their credit union for Save to Win

 

 

Syndicate content