2003 Adopted Resolutions
71st Annual Meeting
Denver

return to table of contents

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.