Savings Working Group

Co-led by CFSI and Commonwealth, the Savings Working Group will bring together thought-leaders, providers, and in-market practitioners to create a comprehensive landscape analysis of what is working to spur consumer savings, highlighting innovative products, features, and practices. Participants will address key challenges, and present promising efforts and in-market solutions, within a peer learning environment designed to push the industry further towards improving financial health through savings.

For the 2017-2018 year, we will create a particular focus around Integrated Savings Products – those products that combine savings with another transactional behavior, such as spending, planning, or borrowing.

2017-2018 Goals

  • Highlight innovative products that are integrating savings into other activities, so as to increase savings behavior and ultimate impact
  • Promote peer learning as participants share impacts of their organizational savings’ efforts, their plans to offer or modify existing products, and the barriers associated with individual savings, from both a provider and consumer lens
  • Share collective insights, and discuss willingness and motivations to explore and invest in, savings products
  • Create a space for sharing current initiatives through CFSI network channels
  • Highlight innovative members’ savings solutions through a regular newsletter, likely every 6-8 weeks. This newsletter will also provide industry headlines and thought-provoking questions.
  • Host 2-3 “virtual roundtables” over the course of one year (EMERGE 2017- EMERGE 2018) bringing in outside guests to spur conversation and build connections.

Membership Expectations

  • Members attend working group meetings and contribute to discussions regularly.
  • The working group is made up of a diverse group of financial service providers of all sizes, mission-based organizations, and researchers.
  • Working group members have an equal voice in contributing to the agenda and discussion. Sponsorship does not elevate a member’s influence on the objectives or output of the working group.