Gov. Evers Proclaims Wisconsin Saves Day
MADISON, Wis. – The Wisconsin Department of Financial Institutions (DFI) today announced Gov. Tony Evers proclaimed November 7, 2024, as Wisconsin Saves Day in Wisconsin. The proclamation is part of a statewide effort promoting automatic saving through the workplace with the Wisconsin Saves program to improve financial well-being. The Wisconsin Saves program is an employee-focused savings initiative, which started as a pilot program in 2020. The program provides Wisconsin employers with resources to encourage their employees to save for emergencies and the future with their paychecks by using the automated saving strategy of split deposit.
Participating employers receive free resources and a digital toolkit to educate their employees on the importance of building emergency savings, as well as the ease and benefits of saving automatically through split deposit. The research-based program uses the principles of behavioral economics and social marketing to change behavior. More than 100 employers in Wisconsin, representing approximately 15,000 employees, are already signed up for the Wisconsin Saves program and are actively using the program’s resources to educate their employees about split deposit and encourage the use of the automated savings strategy today.
“Wisconsin Saves is a timely program aimed at helping Wisconsin employers recruit and retain the best talent particularly during this ultra-competitive job market,” said DFI Secretary Cheryll Olson-Collins. “Employers can distinguish themselves from other businesses by offering this easy-to-use financial wellness benefit that helps their employees save in the easiest and most effective manner by saving automatically through split deposit. Through this program, we are helping Wisconsinites save money, reduce debt, and build wealth through automating their savings.”
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.