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 empower families and individuals to save money, reduce debt and build wealth as part of America Saves Week 2020 (February 24 – 29).
“Southern looks forward to participating in America Saves Week every year as it aligns with our goal to empower one million people to save over the next ten years,” said Darrin Williams, Southern Bancorp, Inc. CEO. “We believe that saving is the foundation to building wealth, and it our mission to be wealth builders for everyone.”
The states of Arkansas and Mississippi are also encouraging their residents to commit to saving and building long-term wealth. Arkansas Governor Asa Hutchinson recently proclaimed February 24 – 29 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.
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 a home down payment or vacation), 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 you stay on track with your goal. Participants can take the pledge at https://testbanksouthern.aceone.io/americasaves/.
Free resources for saving, budgeting and reducing debt can also be found year round at http://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 $1.4 billion in assets, 65,000 customers and 48 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.