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Biddeford Savings Receives America Saves Designation of Savings Excellence for Banks

May 16, 2016

WASHINGTON, DC – On Wednesday, May 18, 2016, Biddeford Savings will receive the America Saves Designation of Savings Excellence for Banks, a designation from America Saves that recognizes banks that went above and beyond to encourage people to save money during America Saves Week.

"Biddeford Savings, is continually focused on the goal of helping our customers on their path to prosperity," stated Betsy Boudreau, Vice President of Marketing at Biddeford Savings. "We believe that savings is a vital part of a healthy lifestyle and our staff works diligently during the year teaching various financial education classes and educating consumers. The America Saves Campaign gave us an opportunity to encourage savings in the community and to help spread the word about the importance of improving saving habits, reducing spending and existing debt. We are honored by this national recognition and hope that this campaign helped people begin to think about their financial health and start or add to their savings plan."

Biddeford Savings, along with the other recipients of the Designation, will be recognized at the America Saves National Savings Forum and will receive a Designation of Savings Excellence seal for their website. “For years, banks and credit unions have participated in America Saves Week by offering products and services that encourage individuals to save money and build wealth,” said Nancy Register, National Director of America Saves. “America Saves launched the America Saves Designation of Savings Excellence in 2015 to recognize banks that go above and beyond to promote and support saving during America Saves Week. This year we are proud to recognize and announce the second group of banks that achieved this designation.”

America Saves Week is an annual opportunity for banks to encourage individuals to save money – with an emphasis on reaching low- to moderate-income families. America Saves is recognizing exceptional banks that succeed in promoting savings or other wealth building accounts and have high levels of accounts opened or added to during America Saves Week 2016. For more information about the America Saves Designation of Excellence for Banks, please visit http://americasavesweek.org/for-organizations/financial-institutions/bank-designation-of-excellence-criteria.

Biddeford Savings, is an independent, community-focused mutual savings bank founded in 1867 with a commitment to excellence and to helping each of its communities prosper. The bank has offices in Biddeford, Kennebunk, Scarborough, and Waterboro. To learn more, visit biddefordsavings.com.

America Saves, a campaign managed by the nonprofit Consumer Federation of America, seeks to motivate, encourage, and support low- to moderate-income households to save money, reduce debt, and build wealth. The research-based campaign uses the principles of behavioral economics and social marketing to change behavior. Nonprofit, government, and corporate groups participate in America Saves nationally and through local, regional, and statewide campaigns around the country. America Saves encourages individuals and families to take the America Saves pledge and organizations to promote savings year-round and during America Saves Week. Learn more at AmericaSaves.org and AmericaSavesWeek.org.