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West Virginia Saves

West Virginia Saves Webinar Co-sponsored by the West Virginia Bankers Association and WesBanco Bank, Inc. January 17, 2013. Today’s Speaker. Lisa Werner A Founder of West Virginia Saves and Assistant Vice President - Mortgage CRA Officer, WesBanco Bank, Inc. About Us.

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West Virginia Saves

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  1. West Virginia Saves Webinar Co-sponsored by the West Virginia Bankers Association and WesBanco Bank, Inc. January 17, 2013

  2. Today’s Speaker Lisa Werner A Founder of West Virginia Saves and Assistant Vice President - Mortgage CRA Officer, WesBanco Bank, Inc.

  3. About Us West Virginia Saves: a state-wide social marketing campaign established in June, 2006. • West Virginia Saves provides tools and tips to help West Virginia Savers reach their personal financial goals. • Over 6,200 people have become West Virginia Savers.

  4. More About Us • Financial institutions, faith-based organizations, employers, schools, nonprofit organizations, government entities, and others work together to motivate individuals and families to save, build wealth, and reduce debt. • The campaign targets low- and moderate-income individuals but is open to everyone recognizing that we as Americans are experiencing low savings rates. • Goals may include debt repayment, a college education, homeownership, retirement savings, or even something much more modest. • Savers do not need to open a new account in order to register. They can have previously established accounts. • EITC awareness is promoted as a way to help families build wealth and to take advantage of VITA sites. • One large part of the campaign’s mission is to encourage homeownership since this can build wealth for both current and future generations of a family. • West Virginia Savers tell us what their savings goal is; we then help them stay on track.

  5. West Virginia Saves Week Goals • Sign up new West Virginia Savers. • Promote good savings behaviors. • Provide opportunities for residents to save successfully. • Encourage savers to create a personal financial plan. • Motivate people to open a new account or add to a current account.

  6. West Virginia Saves Week Incentive During West Virginia Saves Week, a competition between financial institutions will be held. The banking center/branch that signs up the most new savers, will win a luncheon for the employees.

  7. Benefits for West Virginia Savers • Monthly e-mails from financial experts. • Quarterly newsletter. • Access to online member-only savings tools and calculators. • Savings strategies and tips to help achieve goals. • Access to low- or no-fee savings products.

  8. Benefits for Financial Institutions • Opportunity to grow a new customer base. • WesBanco has 3,091 special WesBanco Saves accounts totaling $7,325,481.42 in deposits. • Potential to increase current deposit balances. • Opportunities to increase at-work presentations. • Expansion of community engagement. • Increased media and public recognition. • Promotion of automatic savings and direct deposit. • Name recognition among organizations in need of financial education. • Consideration under the CRA by your regulator.

  9. Benefits for Employers • A benefit that can be offered at no cost to the company. • Happier, healthier employees. • Improved employee productivity.

  10. Impact of Lack of Savings Benefits for Community Partners • A service that can be offered at no cost to the organization. • A way in which the quality of life of clients, customers, students, members, participants, etc. can be improved. • Improved financial well-being of the communities served.

  11. Ways to Participate • Incorporate West Virginia Saves sign-up as part of your day-to-day business practices. • Pre-printed sign-up forms are available. • A sign-up section can be added to documents you already use. • Participate in West Virginia Saves Week

  12. Next Steps • Sign up to participate in America Saves Week. • Download resources from America Saves and plan your event(s). • Begin to train frontline people to sign up savers.

  13. Thank You! Contact: Lisa Werner werner@wesbanco.com 304-234-9221 Visit westvirginiasaves.org Today

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