Minnesota’s WINcentive Program Continues To Show Growth

CU Today provides an update on the growth of Minnesota's Prize-Linked Savings program, WINcentive.

Who are Experts on Financial Vulnerability?

The financial challenges faced by financially vulnerable Americans continue to change as the economic, political, and social landscapes evolve at an increasingly rapid pace. We gather new key insights every time we talk with financially vulnerable people directly – experts on their own lives. …

Walmart tries to make better savers out of the unbanked

NPR's Marketplace looks at what Walmart's Prize Savings might do for the financially vulnerable

Health Insurance and Financial Security

While financially vulnerable Americans face great risks in the current health insurance debate in Washington, regardless of the outcome, we know millions of working people will continue to struggle with the financial challenges posed by employer-sponsored High-Deductible Health Plans (HDHP).  A…

Prize Savings Wins Best Prepaid Incentive Award

Prize Savings, a Prize-Linked Savings feature on the Walmart Prepaid MoneyCard, has won the Best Prepaid Incentive Program Award at the 2017 Pay Awards. The results are the combination of votes from the expert judging panels and the aggregated results of online voting. This year, more than 33,000 vo…

The Impact of Prizes

Commonwealth’s work to use prizes to motivate saving has led to $185 million being saved, mostly by financially vulnerable people, in the last 8 years. The chance to win a prize has proven time and time again to be an effective motivator for people to save, allowing them to begin to build fina…

Why Workplace Financial Wellness Programs Are Hot

Commonwealth's Amanda Hahnel spoke at an event about how gamification and video games can help employers contribute towards worker financial wellness, as reported in Forbes.

Commonwealth and America Saves Announce SaveYourRefund $25,000 Grand Prize Winner

Commonwealth and America Saves are thrilled to announce Ivonne Sonato-Vega of Santa Rosa, Calif. as the 2017 winner of SaveYourRefund’s $25,000 Grand Prize Photo Contest. The SaveYourRefund campaign encourages savings at tax time by offering chances at cash prizes for filers who save at least…

Keep Your Eye On Wal-Mart’s Bold, Brilliant Behavioral Program

Forbes notes the potential that Walmart's Prize Savings holds for the future of banking.

The Gamification Effect: Using Fun to Build Financial Security

Managing personal finances can be stressful, intimidating, and at times simply mystifying. What if gaining financial knowledge, building self-confidence, and taking positive financial action could be as fun and engaging as playing a video game? At Commonwealth, we believe that tools that use fun to …

How to Trick People Into Saving Money

A feature article in The Atlantic looks at how Commonwealth, Walmart, and Green Dot use Prize-Linked Savings to trick people into saving money with the Walmart MoneyCard's Prize Savings feature.

What to do with your tax refund: Here’s the best way to use that check from the IRS

An article from Mic lists options for how to use your tax refund, including entering SaveYourRefund.

Blog Post: Half of All Americans Don’t Have $400 to Spare

Following the Aspen Institute Summit on Inequality & Opportunity, Commonwealth’s Executive Director Tim Flacke shared thoughts on how our work is expanding opportunity and addressing inequality. Aspen Institute has posted Tim’s piece on their blog, addressing the problem that many Am…

9 Smart Ways to Spend Your Tax Refund

NerdWallet lists 9 smart ways to spend your refund, including one way to save it: SaveYourRefund.

Senators reintroduce SAVINGS Act of 2017

Senator Patty Murray (D-WA) and Senator Susan Collins (R-ME) today reintroduced the Save Access to a Valuable Investment Needed to Generate Savings (SAVINGS) Act of 2017, legislation that would preserve the Tax Time Savings Bond program. Since 2010, the Tax Time Savings Bond program has provided tax…

Ways to Save (and Not Spend) Your Tax Refund

New York Times talks to Commonwealth about how tax filers can save their refund.

Preparing for Minimum Wage Hikes

At Commonwealth, we're exploring whether the upcoming minimum wage increase that will impact 13 million employees can be used as an opportunity to encourage employees to start saving and build financial security. There is a great deal of research that shows that emp…

Using Rules of Thumb to Promote Better Financial Decisions

You’ve probably heard that “an apple a day keeps the doctor away,” but why are there are so few simple, effective messages about your finances? Credit unions can build a better relationship with their members by offering these sorts of simple, actionable messages to guide and simp…

Ford Foundation Features Work of Commonwealth

The Ford Foundation published a guest post on their blog, written by Commonwealth Executive Director Timothy Flacke, about the launch of Prize Savings, the first nationwide Prize-Linked Savings (PLS) product on a prepaid card designed by Commonwealth in partnership with Walmart and Green Dot Bank. …

Building Commonwealth in 2017

At the start of a new administration, we are surrounded by change and uncertainty, with more to come. Much of this change is threatening - to our mission, to the people we aim to support, and to our values. Some things, however, have not changed: tens of millions of financially vulnerable peop…