New program to improve Bluefield’s prosperity through savings

On January 29, SaverLife is coming to Bluefield, WV with a campaign promise to help residents become better savers. And they’re kicking the campaign off at an upcoming Bluefield High School basketball game taking place at 5:45 p.m. on Wednesday, January 29!

National Savings Crisis

According to a recent study from the Federal Reserve Bank, 40 percent of respondents to a national survey could not cover an unexpected $400 expense without going into debt.

SaverLife’s mission is to reverse that trend by helping working families achieve prosperity through savings, and they’re making a special trip to Bluefield to show everyone how to do it.

The SaverLife Program

For the Bluefield campaign, SaverLife has developed a unique program that offers financial rewards to community residents that will incentivize them to save. Who doesn’t want free money?

All Bluefield residents will receive $5 just for signing up. Come January 30, 2020 (and ending May 31) SaverLife will launch the “Race to 500” challenge, which offers even higher cash rewards (between $100 and $500) for the participants saving the most money. They’re also willing to match participant savings up to $15,000, which will be donated to a community cause (still to be determined). Savers are able to track the progress of other participants in their community via a live dashboard.

135 Bluefield residents have already signed up

SaverLife has quietly been working with local Bluefield business partner Alorica and Jim Spencer, economic development director for the city of Bluefield behind to test the program before its rollout on January 29. In the last few months, 135 residents signed up have signed up and already saved close to $10,000.

The Big Event

As part of the campaign, SaverLife is hosting a launch event scheduled to take place at a Bluefield High School basketball game, which is taking place at 5:45 p.m. on Wednesday, January 29.

Come to the event to learn more!