City Of Roanoke: City Of Roanoke To Host ‘Roanoke Valley Saves Week' As Part Of ‘America Saves Week 2022'

Press release from the City of Roanoke:

February 11, 2022

City of Roanoke to Host ‘Roanoke Valley Saves Week’ as Part of ‘America Saves Week 2022’

 Promoting automatic savings to help people build financial resilience

 As part of “America Saves Week 2022,” scheduled for Feb. 21–25, the City of Roanoke is encouraging the Roanoke Valley community to take a moment to focus on the importance of learning how to save money in an effort to better prepare them for the unexpected, such as the Covid-19 pandemic. In concert with this special emphasis, during “Roanoke Valley Saves Week,” Bank On Roanoke Valley will be offering area residents resources and support with educational tools, free programs, and financial incentives. Bank On Roanoke Valley is a partnership of local financial institutions, community organizations, and government that works together to support “Roanoke Valley Saves Week.”

“The recent economic impact of COVID-19 has highlighted the need for individuals to create a rainy day fund or stick to a budget,” said Bob Cowell, Roanoke City Manager. “Even though the current situation is most-pressing, long-term financial well-being remains critical for personal finances. Those who start with a plan in mind are more than twice as likely to successfully save for their retirement, their children’s education, or whatever they’re looking forward to.”

“United Way's regional COVID impact survey in 2020 showed that in order to get by, one third of household respondents had taken money out of a savings account (31%), while another 23% shared that they had increased the balance on a credit card. Roanoke Valley Saves Week and Bank On are great opportunities to help us be better prepared for the next time the unexpected happens. Having a savings account and working on having enough emergency savings are important steps towards being crisis-ready, and financially stable,”  said Abby Hamilton, President & CEO of United Way of Roanoke Valley, a Bank On and Roanoke Valley Saves partner organization.

“Roanoke Valley Saves Week” will kick off on Tuesday, Feb. 22, at 12 p.m. with an online event featuring The Roanoke Financial Empowerment Center. Mayor Sherman Lea will present a proclamation for “2022 Roanoke Valley Saves Week” during City Council’s 2 p.m. regular agenda meeting later that day.

• Kick-Off Event feat. The Roanoke Financial Empowerment Center – Tuesday, Feb. 22, 2022 at 12 p.m.
• Haciendo un Presupuesto y el Centro de Capacitación Financiera de Roanoke - miércoles, el 23 de febrero de 2022, a las 11 am (Spanish Language Event/ en español)
• Saving and Future Planning – Wednesday, Feb. 23, 2022 at 6 p.m.
• Borrowing Basics – Thursday, Feb. 24, 2022 at 10 a.m.

This press release was produced by the City of Roanoke. The views expressed here are the author’s own.