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Philadelphia Saves

Philadelphia Saves

FMFCU is proud to participate in Philadelphia Saves and encourages you to read below for more information on saving or visit Philadelphia Saves' web site.

Philadelphia Saves, the local off-shoot of the national America Saves campaign, is comprised of over 40 local non-profit, governmental, corporate, and social service organizations that are committed to improving the financial security of all Delaware Valley residents. Since the program’s launch in 2003 almost 3,500 Philadelphians have committed to saving over 4 million dollars towards a specific financial goal. With the nation's personal savings rate at -1.0% (see the chart), consumers need to be educated on how important saving is so their future is secure.

A coalition of Delaware Valley institutions who are committed to the well-being of Delaware Valley residents and their communities. They include non-profit organizations, housing, community and social services, government agencies, credit counseling agencies, financial institutions and faith-based groups. Franklin Mint Federal Credit Union is proud to be one of these institutions who offers free savings accounts to accomplish this goal.

Top Philadelphia Saves Savings Goals include:

  • Emergency Fund (37%)
  • Homeownership (30%)
  • Investment Savings (15%)
  • Debt Reduction (10%)

Finding Money to Save: Tips

  • Save $.50 a day in loose change
  • Cut soda consumption by I liter a week
  • Purchase one less cup of coffee a day
  • Bring lunch to work (saving an estimated $3/day)
  • Eat out 2 fewer times a month
  • Purchase 2 fewer lottery tickets a week ($2)
  • Eliminate premium cable channels
  • Borrow, rather than buying, I book a month
  • Pay credit card bill on time to avoid late fee
  • Pay off $1000 of credit card debt, reducing interest
  • Take advantage of sales, coupons, and in-store savings cards while grocery shopping
  • Maintain checking account to avoid fees and overdraft charges

More Information

For additional information including saver resources, saver strategies, tips and more, visit their web site: www.PhiladelphiaSaves.org
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