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Save For America Announces Quarterly Program Results
Save For America Announces Quarterly Program Results
Published 04-08-09
Submitted by Save For America
OMAK, Wash., April 8 /PRNewswire-USNewswire/ -- Save For America today announced 4% account participation growth in its school banking program for the 1st quarter of 2009 ended March 31st.
The proportion of Account Neutral* Schools increased to 22% of new enrollments, a 120% increase over the same period during the previous academic year. Likewise, overall school enrollments increased by 80% versus the previous year to date period. "Even as many institutions pulled back on spending the past quarter, we've experienced unexpected growth," said Stephan Avena, President of Save For America.
"PTAs and School Districts are funding the program in larger numbers. A recent data conversion and service upgrade contributed to first quarter results as did continued operational innovations. Streamlined startup activities for PTA/O driven Account Neutral Program adoptions greatly increased effectiveness. Our software providers have added flexibility for schools and parents to get started. This new in-school branch banking platform is progressing encouragingly," Avena noted. Save For America is continuing to utilize technological improvements designed to increase community participation in youth savings programs by customer schools, banks and credit unions.
Save For America's management anticipates that next quarter's participation results will be more similar to Q2 of last year, on average the slowest account growth quarter each calendar year.
Coming Up: Friday April 10, 2009, In recognition of April is National Financial Literacy Month Save For America will announce the winning students in its national "Super Saver 2009" contest. Further, during quarter two, the organization expects to begin testing additional savings education innovations from its licensor.
Headquartered in Omak, WA, Save For America is one of the nation's leading savings education providers.
*Account Neutral Schools are those participating schools that allow students with a depository account at any financial institution to participate.
