Community Focus 

Jax Federal Credit Union Announces Participation in America Saves Week

National campaign runs Feb. 27 through March 4

February 15, 2017 — JACKSONVILLE, Fla. — Jax Federal Credit Union, a Jacksonville-based credit union that serves more than 30,000 members across Duval, Clay, Nassau, Baker and St. Johns Counties, today announced its enrollment as a participating credit union in America Saves Week (Feb. 27 through March 4).

America Saves Week is a national campaign coordinated by America Saves and the American Savings Education Council. The campaign started in 2007 to provide an opportunity for organizations to promote good savings behavior and encourage individuals to assess their own savings habits.

All Jax Federal Credit Union branches will waive the $5 membership fee for new members who join with a qualifying first deposit of $5 or more during America Saves Week. Existing members will be encouraged to enroll in automatic savings programs designed to help them achieve their individual savings goals.

According to the 2016 America Saves Week survey, only 40 percent of U.S. households report good or excellent progress in “meeting their savings needs.” The survey also revealed:

• Less than half of respondents (49 percent) save at least 5 percent of their income

• Two-thirds of survey respondents (66 percent) save at least some of their income

• Only 52 percent of respondents are saving enough for retirement with a “desirable standard of living”

• Fewer than 40 percent of respondents reported no consumer debt (38 percent)

Gerri Sexsion, president and CEO of Jax Federal Credit Union, hopes America Saves Week will encourage members of the Northeast Florida community to take control of their savings.

“Establishing and maintaining a savings plan is critical to long-term financial wellness,” said Sexsion. “We look forward to helping our members commit to healthy saving habits, and empowering them to meet their goals.”

For more information, visit americasavesweek.org.