How the Program Works
Learn How the Program Works
A partnership is created among an employer, one or more financial institutions, and America Saves.
- America Saves provides employees with the motivation to set up direct deposit and save a portion of their pay. America Saves also provides employees ongoing support, information, and motivation to save regularly through email and text messages.
- Youth Employment Programs provide direct deposit and the America Saves for Young Workers Program to employees
- Financial institutions provide no-fee, low opening balance accounts.
“We want to train young workers through their initial work experience to save the best way possible, utilizing direct deposit and splitting a portion of their pay into a savings account. Let’s not make it harder for young people who are the least knowledgeable and experienced to establish effective ways to save. By offering the same payroll systems used for adult employees, young people can learn from the beginning how to save and use that experience throughout their work lives.”
George Barany, America Saves Director
The Experience for Young Workers
Once you complete your online profile, you will receive the America Saves for Young Workers program through a unique website URL that you will need to send to your young workers.
The URL leads workers to a short (less than 10 minutes) program about saving at work that includes:
- A video that demonstrates the importance of saving a portion of their paycheck and tells them exactly how to do it.
- The America Saves Pledge that allows them to create a savings plan by identifying a saving goal, a dollar amount to be saved monthly, and a time frame.
- The opportunity for employees to print or download their goal and amount to save. Employees will be prompted to bring this information and their existing account and routing numbers with them to orientation so that they can set up direct deposit into two accounts and have an amount to save already in mind.
- The opportunity to open or learn more about the financial accounts available through your program and, if applicable, open an account before orientation.