LITTLE ROCK – As part of America Saves Week 2019, February 25 – March 2, 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 spread the savings message and encourage people to make savings automatic in an effort to reduce debt and build wealth.
“At Southern it is our mission to be wealth builders for everyone, and we believe that saving is the foundation to building wealth,” said Darrin Williams, Southern Bancorp, Inc. CEO. “America Saves Week is a great opportunity to encourage everyone in our communities to invest in their financial future.”
Arkansas Governor Asa Hutchinson recently proclaimed February 25 – March 2 to be Arkansas Saves Week and Military Saves Week. Mississippi Governor Phil Bryant also signed a proclamation naming the same week as Mississippi Saves Week.
In an effort to make saving more successful, Southern encourages everyone to take the America Saves Pledge. When someone takes the pledge, they identify a savings goal (such as a rainy day fund or retirement), an amount to save per month, and the number of months they will save that amount. In other words, they make a basic savings plan.
Savers who take the pledge have a chance to win $500. They can also boost their potential prize by $250 by sharing their savings goal, personal story, or favorite savings tip on social media with the hashtag #ImSavingForSweepstakes. Participants can take the pledge at https://banksouthern.com/americasaves/.
Free resources for saving, budgeting and reducing debt can also 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 $1.3 billion in assets, 65,000 customers and 46 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. 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.