Commonwealth & EARN Announce Winner of National Tax-Time Savings Competition

Savers Win, a nationwide tax season savings program run by nonprofits EARN and Commonwealth, has named Greenville resident Jessica Butler the winner of the Grand Prize Story Competition. Savers Win, a limited-time promotion, was created to encourage more Americans to save part of their 2017 tax ref…

Design & Innovation Challenge: Benefit Selection for Financial Security

Commonwealth has partnered with the Center for Health Experience Design (CHXD) to launch an innovation challenge to envision a solution that will help financially vulnerable employees balance their health and financial needs at open enrollment. One of the factors that is increasingly contributing t…

How small-dollar loan programs can be a big benefit for employees (and their employers)

The Federal Reserve Bank of Minneapolis highlights one way employers can get involved in the employees' financial security, featuring Commonwealth Senior Vice President Melissa Gopnik.

Announcing the SaveYourRefund 2018 Grand Prize Winners

Commonwealth and America Saves are thrilled to announce Cassandra Tate of New Hampshire and Tara T. of Massachusetts as the two winners of $10,000 each in the 2018 SaveYourRefund Grand Prize Photo Contest. “Saving money enables me to be more self-reliant and gives me greater peace of mind,&rd…

Twitter Chat: The Changing Nature of Work

For many people, the nature of work is in flux. All indications are that the Traditional full-time job with one employer will continue to become less common as other work arrangements flourish. Those Non-Traditional alternatives are themselves evolving rapidly. To increase knowledge about how t…

Affinity Plus debuts WINcentive savings program in Wisconsin

CU Insight Press Release on the launch of WINcentive savings, a prize-linked savings account co-designed by Commonwealth, at Affintiy Plus Federal Credit Union in Wisconsin

Ric Edelman Show

Commonwealth's Tim Flacke was featured in a segment in the Ric Edelman Show podcast, talking about financial insecurity and the need for basic savings. The segment starts at 51:30.

The Changing Nature of Work: Amplifying the Voice of the Financially Vulnerable Worker

The nature of work has changed, and will continue to change, in ways that are hard to predict. But, all indications are that traditional full-time work for one employer will continue to diminish, while other forms of work arrangements flourish. Commonwealth has engaged in research to increase knowle…

Pilots to Help Workers Build Security With Wage Hikes

Commonwealth announced it is bringing to Chicago a nationwide campaign to leverage minimum wage hikes to build worker financial security. Chicago’s multi-phase minimum wage ordinance increases the minimum wage by $1 on July 1. “The millions of workers around the country affected by mini…

Save to win: Banks hope to draw customers with prize-linked savings accounts

From WXYZ Detroit - with prize-linked savings, whether you win or lose, you still save.

How Saving Some of Your Tax Refund Could Win You a Cash Prize

New York Times article covers SaveYourRefund and the opportunity to save at tax time.

Raises, raises, and more raises…

Every day it seems like another company announces that it is planning to give raises to its workers –  CVS, Walmart, and Starbucks, just to name a few. Regardless of the motivation for these raises, they present an opportunity for workers to build their financial security. Over the last …

PLS Bill Introduced in California

Senate Bill 1055 has been introduced in California, allowing banks and credit unions in the state to offer prize-linked savings (PLS) products to their customers. This would make California the 28th state to pass PLS legislation, opening up a fun and exciting way to save. Prize-linked savings produ…

Savings games to help you stash more cash

Bankrate discusses how games and gamifcation - including some offerings from Commonwealth - can help boost savings rates.

Commonwealth and EARN Launch Savers Win

Leveraging our five years of experience operating a successful prize-based tax time savings campaign, Commonwealth has partnered with EARN to co-design an incentive program for their online savings community, SaverLife. The incentive program – Savers Win – offers tax filers the chance to…

Should we pay people to save?

The News Tribune explores how encouraging people to save works better with prizes, rather than (or in addition to) interest.

#TaxTimeSavings Twitter Chat - January 30th

Each tax season, households making less than $52,000 claim $100 billion in federal tax refunds. For many of America's low- and moderate income households, their tax refund is by far the largest check they receive all year. This windfall provides the perfect opportunity to start or grow an emerge…

Endless Possibilities for Growth of Prizes

Prizes continue to prove to be an effective tool for spurring positive financial actions. Prize Savings on the Walmart MoneyCard, designed in partnership with Green Dot Bank and Commonwealth, is celebrating a year of success. The program encourages saving by making the act fun and exciting. Since Pr…

FUNd My Future Expands Throughout Pittsburgh, PA Area

FUNd My Future, a Children's Savings Account (CSA) program started by Propel charter schools in Pittsburgh, is now available to students throughout Allegheny County, where Pittsburgh is located. This program aims to enable children and their families to take practical steps that t…

Innovations to Tackle College Financial Readiness

College education is one of the key drivers of financial security, and the high costs of college attendance can be a challenge for students from financially vulnerable households. Commonwealth designed and tested an innovative solution to this challenge: Ramp It Up, a gamified college financial read…