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…

Green Dot Bank Wins Economic Inclusion Award for Prize Savings

Green Dot Bank has been recognized with an Economic Inclusion Award at the American Bankers Association (ABA) Community Commitment Awards for their work on Prize Savings, a prize-linked savings feature co-designed by Commonwealth on the Walmart prepaid MoneyCard. This recognition by ABA highlights …

Commonwealth Launches Tax Advisory Group

On October 20th, we held the first meeting of our Tax Advisory Group – a collection of industry experts focused on thinking expansively and with new perspectives about saving and financial security at tax time. The goal of this work is to identify promising strategies for dramaticall…

The Fun Way to Get Americans to Save More

US News article features savings products that use the power of prizes to make saving more exciting, such as Save to Win and Prize Savings.

Commonwealth and America Saves Team up for the Sixth Year of SaveYourRefund

In the 2018 tax season, SaveYourRefund will once again offer tax filers the chance to win cash prizes for saving a portion of their tax refunds. Now in its sixth year, the SaveYourRefund campaign provides fun and exciting incentives for Americans to build financial security at tax time. This year, …

Boston Saves Receives $35,000 National League of Cities Financial Inclusion Grant

Mayor Martin J. Walsh today announced that the National League of Cities has awarded a $35,000 grant to support the growth of Boston Saves - the City of Boston's children's savings account program - as it enters the second year of its three-year pilot. The grant will fund Bost…

Community Bank’s Prize Linked Savings

A guest post by Commonwealth in ABA Bank Marketing looks at how a community bank launched its own Prize-Linked Savings product.

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.