Walmart program: Stash cash in savings account, win prizes

With the help of Commonwealth, Walmart and Green Dot have launched the first national Prize-Linked Savings program, via USA Today.

Prize Savings Brings Prize-Linked Savings Nationwide

Walmart and Green Dot in partnership with Commonwealth today announced the introduction of “Prize Savings,” a Prize-Linked Savings (PLS) incentive program available to the millions of Walmart MoneyCard-holders. “According to The Federal Reserve Board of Governors, nearly half of a…

Commonwealth Launches New Financial Entertainment Site

Commonwealth has launched a new website for Financial Entertainment, a suite of online and mobile financial education video games that teach users concepts including retirement, budgeting, debt repayment, savings, and more. While the site’s front end provides a better user experience and desi…

Prize-Linked Savings Available Nationwide

Prize Savings, a Prize-Linked Savings (PLS) feature of Walmart’s MoneyCard prepaid card, is now available across the country. This means millions of people nationwide now have access to a fun, engaging and rewarding way to build emergency savings. “We saw a growing crisis in the US arou…

Wal-Mart’s Unconventional Approach To Get People To Save: Prizes

NPR's Plant Money podcast covered Walmart's new product, Prize Savings, that brings Prize-Linked Savings to people across the country through the company's prepaid debit card.

Innovations in Student Loan Repayment

Commonwealth is partnering with ASA (American Student Assistance) to test Rules of Thumb for student loan repayment behaviors with recent college graduates. As of 2015, more than 41 million Americans collectively owed a total of more than $1.2 trillion in student loan debt. Nearly 25% of those…

Americans Can Win Big for Saving Money at Tax Time Again in 2017 with SaveYourRefund

In the 2017 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 fifth year, SaveYourRefund is a partnership between Commonwealth and America Saves. The SaveYourRefund campa…

America: The Owner’s Manual

Senator Bob Graham and Chris Hand have co-authored a new book, America, the Owner’s Manual: You Can Fight City Hall – and Win, which features a chapter written by Commonwealth. Chapter 2 of the book, “Just the Facts, Ma’am,” tells the story of how policymakers at the s…

Massachusetts Passes Prize-Linked Savings Legislation

Massachusetts Governor Charlie Baker signed a bill on October 14, 2016 permitting Prize-Linked Savings (PLS) in the state. The bill, which will go into effect in January 2017, permits banks and credit unions to offer savings promotions raffles. PLS accounts incentivize savings by offering a chance a…

Explore New Ideas With Us

Here at Commonwealth, we aspire to build innovative solutions that make people financially secure. In order to do that effectively, we need to explore new ideas about existing and new issues faced by financially vulnerable Americans. The new Explore section of our site highlights our team&rsquo…

New savings raffles entice more Minnesotans to save

A Minneapolis Star Tribune article covers the progress and success of WINcentive Savings, Minnesota's Prize-Linked Savings product that launched in January 2016.

Rules of Thumb Show Success as Cost-Effective Tool

Last month, Urban Institute released new research, co-authored by Commonwealth staff, that consumers who received two different Rules of Thumb such as Don't Swipe the Small Stuff "had, on average, $104 and $58 less in revolving credit card debt, respectively, six months after receiving the …

Commonwealth Launches in DC

Nearly a year of reflection and planning culminated on September 26th, as we officially launched our new brand, Commonwealth. While our mission hasn’t changed, our new name and identity will help us more effectively pursue our mission to strengthen the financial opportunity and security o…

Know your rules of thumb for credit card use

A Washington Post article covers the recent research released by the Urban Institute, which we partnered on, showing the positive effects of rules of thumb on credit card debt.

Commonwealth at the Assets Learning Conference

Join Commonwealth at the Assets Learning Conference (ALC) in Washington, D.C., September 27-30. Visit our exhibit table any day during the conference, and see our team speaking at any of the below breakout sessions: September 28 Human Insights Workshop: Consumer Journey Mapping, featuring Com…

A Little Nagging Can Help Reduce Credit Card Debt

An article in the New York Times reports on research by Commonwealth and the Urban Institute that found that rules of thumb can work to change financial behaviors.

Tech makes saving to retire less of a chore or a bore

USA Today reports on D2D's work and on how with the help of gamification saving for retirement can be fun.

Center For Economic Progress, Commonwealth, and America Saves Celebrate SaveYourRefund Winners

CHICAGO, IL – The Center for Economic Progress (CEP) hosted Commonwealth and America Saves for an event that celebrated the winners of the 2016 SaveYourRefund Promotion. Grand Prize Photo Contest winner Ebony Brown-Parks of Elgin, IL and five other weekly prize winners were recognize…

Prizes may spice up the boring old savings account

With Prize-Linked Savings legislation recently passed in Missouri, the St. Louis Post-Dispatch reports on a spark of interest among credit unions in the state.

Tim Flacke Speaks at Senate Committee on Aging

Last week, Commonwealth Executive Director Tim Flacke was in Washington, D.C. to speak at a Senate Special Committee on Aging hearing, titled "Closing the Gap: Innovations to Promote Americans' Financial Security." Tim was part of a group of witnesses, including representatives from Transam…