LITTLE ROCK – Southern Bancorp Bank, a wholly owned subsidiary of Southern Bancorp, Inc. and one of the nation’s largest community development banks, is partnering with Southern Bancorp Community Partners (SBCP), a 501(c)(3) development finance organization and loan fund to encourage Arkansans and Mississippians, to save and reduce debt as part of America Saves Week 2021(February 22 – 26).
“As wealth builders for everyone, we view America Saves Week as a great opportunity to empower families and individuals to increase their net worth through saving, budgeting and reducing debt,” said Darrin Williams, Southern Bancorp, Inc. CEO. “The past year has demonstrated how important it is to save for the unexpected, and we want to do our part to make sure everyone is prepared for what the future may hold.”
In an effort to make saving more successful and consistent, Southern encourages everyone to make a basic savings plan using the America Saves Pledge. When someone takes the pledge, they identify a savings goal (such as an emergency fund or new car), an amount to save per month, and the number of months they will save that amount. Throughout the year, America Saves will send out savings tips and reminders to help them stay on track with their goal. Participants can take the pledge at https://banksouthern.com/americasaves/.
The states of Arkansas and Mississippi have also encouraged their residents to commit to building long-term wealth through saving and debt reduction. Arkansas Governor Asa Hutchinson recently proclaimed February 22 – 26 to be Arkansas Saves Week and Military Saves Week. Mississippi Governor Tate Reeves also signed a proclamation naming the same week as Mississippi Saves Week.
Southern Bancorp will be sharing savings resources from America Saves on all of their social media platforms from February 22 – 26. More resources for saving, budgeting and reducing debt can be found year round at https://southernpartners.org/learning-center/.
About Southern Bancorp
Southern Bancorp, Inc., a bank holding company; Southern Bancorp Community Partners, a 501(c)(3) development finance and lending organization; and Southern Bancorp Bank, one of America’s largest rural development banks; were founded in 1986 by a group of business, political and philanthropic leaders who were concerned about the economic decline of rural Arkansas. All three entities are U.S. Treasury certified Community Development Financial Institutions (CDFIs) collectively known as “Southern.” With $1.7 billion in assets, 65,000 customers and 49 locations in Arkansas and Mississippi, Southern invests in people and businesses in rural communities; empowers them to improve their lives; and helps them transform their communities. Southern is a Certified B Corp, Benefit Corporation, and proud member of the Global Alliance for Banking on Values. Learn more about Southern on the web at www.banksouthern.com & www.southernpartners.org.
About America Saves Week
America Saves Week, coordinated by America Saves and its partners, is a national opportunity for organizations to work together within their communities to transform the lives of millions of Americans. It is the framework in which participating organizations annually take on the savings challenges that their constituents face with support from local and national partners.