URGING SUPPORT FOR THE AMERICA SAVES PROGRAM
WHEREAS, a recent joint report by the Consumer Federation of America, the National Credit
Union foundation and the Credit Union National Association found that one-quarter (25%) of U.S.
households have net assets under $10,000 (excluding home equity but including retirement
accounts), and therefore are "wealth-poor"; and
WHEREAS, the report indicates that the wealth-poor tend to be young, have low-or moderate-incomes, and rent rather than own their homes; and
WHEREAS, America Saves is a nationwide campaign in which a broad coalition of non-profit,
corporate and government groups help individuals and families save money, build wealth and
reduce debt; and
WHEREAS, the Consumer Federation of America and the Ford Foundation have chosen
Cleveland as a demonstration city for Cleveland Saves, a pilot program for America Saves; and
WHEREAS, the Cleveland Saves program is a social marketing campaign that provides
motivation, free financial coaching, no fee financial products, free services form financial planners,
free education seminars and savers clubs; and
WHEREAS, to date the Cleveland Saves pilot program has enrolled more than 3,400 and to date
have saved more than $2.6 million; and
WHEREAS, local campaigns such as Cleveland Saves are being organized in more than twenty
locations and are attracting major corporations, financial institutions, chambers of commerce,
religious and educational institutions, libraries, non-profit organizations, labor unions and
government agencies as partners,
NOW, THEREFORE, BE IT RESOLVED that The United States Conference of Mayors
supports the America Saves program and encourages cities across the nation to engage in America
Saves efforts in their communities.
©2003 U.S. Conference of Mayors 
