Ohio Treasurer Kevin L. Boyce Launches SaveNOW Bonus Program
Offers participants 3.25% enhanced interest rate on savings accounts
Columbus, Ohio – Ohio Treasurer Kevin L. Boyce officially kicked off the SaveNOW program today during a press conference at the Columbus headquarters of participant PNC Financial Services Group/National City. SaveNOW is the first program of its kind in the nation. The initiative, an investment of the Ohio Treasury, rewards Ohioans for furthering their financial education by providing them with a 3.25% interest bonus in their savings account. Participants will receive the bonus upon the satisfactory completion of a requisite one-year period of financial instruction.
"I am very excited by the launch of our SaveNOW program. It will be yet another way the Ohio Treasury will be able to strategically invest in the people of Ohio, by encouraging saving, ensuring increased financial security, and providing opportunity through the provision of a continuing financial education,” said Ohio Treasurer of State Kevin L. Boyce. "The average interest an Ohioan receives from a savings account is 0.15%. Yet, Ohioans who participate in SaveNOW will get 3.25% in addition to the interest they already receive. A fantastic deal for our citizens and a helpful boost to our economy during some very challenging times.”
The SaveNOW program pairs financial education with the state’s extraordinarily successful linked deposit program to promote financial responsibility and economic wellness. PNC is the first large bank participating in SaveNOW, offering it in each of its 440 PNC and National City bank branches across the state.
"PNC and National City have long histories of providing our communities with the financial products, resources, and advice they need to succeed,” said Mike Gonsiorowski, regional president, Central Ohio/Columbus, National City—now a part of PNC. "In order to build financial wealth and stability over time, it’s critical for consumers to understand how to most effectively manage their money and develop healthy savings habits."
Kay Geiger, regional president, Southern Ohio/Cincinnati, PNC added, "By offering the SaveNOW enhanced-interest-rate program in all of our bank branches across the state of Ohio, we are empowering our customers to build their financial wealth and acumen for success today and in the future. And in the process, we are playing a role in the very important work of strengthening the communities where we live and work."
Three other banks are participating in the SaveNOW program: Liberty Savings in Wilmington, Ohio, Wayne Savings in Wooster, Ohio and MainSource Savings in Troy, Ohio.
For more information visit http://www.ohiotreasurer.gov and click on SaveNOW.
