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VCC Participates in Virginia Saves Campaign


Saving for a rainy day has been a respectable tradition in our country for years. Often attributed to Benjamin Franklin, the saying, “A penny saved is a penny earned” has been echoed many times through the ages. However, financial analyses of the past few decades show that Americans have been spending more than saving. The time-honored practice of putting money away seemed to become less and less popular. That has all changed recently. 

Challenging economic conditions since 2008 have many people rethinking their approach to finances. Recent news reports indicate that more Americans are focused on increasing their savings as a defense against uncertain times. Savings helps individuals and businesses respond to unforeseen emergency needs. Savings can also motivate and help toward accomplishing a wide range of dreams and goals.
Virginia Community Capital (VCC) wants to encourage and assist in this new savings trend. A number of new initiatives demonstrate this commitment to improved fiscal health for individuals and companies. This past fall, VCC launched our Savings line of business dedicated to helping you make putting aside money for any number of goals a top priority. VCC’s Community Capital Bank (CCB) is an FDIC-insured depository institution. CBB can accept deposits from individuals, organizations, and institutional investors as well as other banks.
CCB promotes savings through specially designed products and programs. For example, the VA Savers Club Account provides an easy-to-use, low-cost way to build savings that can help you achieve financial goals or establish financial peace of mind. The VA Savers Club Account is open to all consumers in Virginia and features:
          $0 opening amount with direct deposit
          No minimum balance requirements
          No monthly service charge
          Monthly savings statements
          Competitive interest rate
          Automatic enrollment in Virginia Saves
          Access to financial education tools and resources
As a proud sponsor of the Virginia Saves Campaign, VCC encourages individuals and businesses to learn more about and enroll in this statewide effort to promote savings. Virginia Saves, part of a national campaign called America Saves, features financial education programs, free financial planning advice, and the motivation to begin and maintain your savings plan. This year’s annual campaign is February 20-27. VCC urges you to make the commitment to save in 2011. Visit www.virginiasaves.org to learn more.  
Saving with community development banking organizations allow you, as a saver, to feel confident your deposits support and fund 100 percent mission-focused activities. For socially conscious investors and savers, saving with CCB is a win-win proposition.
At VCC, we believe that savings should be more than just a passing fashion. It should be a way of life. And it can be. The VA Savers Club and Virginia Saves help individuals and families in our community become economically sustainable, build wealth, and gain financial knowledge. Visit our website, www.vacommunitycapital.org, or contact Teresa Walker, the VCC Savings Program Manager, at (540) 260-3126 ext. 102 or email her at twalker@vccva.org to learn more about CCB and various opportunities that will help you develop a tradition of savings.