Bankrate discusses how games and gamifcation - including some offerings from Commonwealth - can help boost savings rates.
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…
The News Tribune explores how encouraging people to save works better with prizes, rather than (or in addition to) interest.
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…
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, 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…
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 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 …
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…
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.
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, …
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…
A guest post by Commonwealth in ABA Bank Marketing looks at how a community bank launched its own Prize-Linked Savings product.
CU Today provides an update on the growth of Minnesota's Prize-Linked Savings program, WINcentive.
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. …
NPR's Marketplace looks at what Walmart's Prize Savings might do for the financially vulnerable
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, 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…
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…
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.