SaverLife
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Mission Statement
SaverLife (formerly EARN) is a nonprofit on a mission — to inspire, inform, and reward the millions of Americans who need help saving money. Through engaging technologies and strategic partnerships, we give working people the methods and motivation to take control of their financial future.
About This Cause
SaverLife envisions a world where every American can experience economic mobility. However, the existing financial system is not designed to address the needs of low-to-moderate income individuals. SaverLife believes that financial stability and economic mobility are achieved through a combination of individual agency and action with the eradication of entrenched systemic barriers. We know that the ability to save money and invest in yourself and your family is a key indicator of financial wellbeing and a critical wealth-building tool. SaverLife’s proven model addresses both sides of this equation by helping our members increase their savings rates, while simultaneously leveraging data and scale to address the systemic barriers that hinder mobility. Our 610,000 members are working individually and collectively to improve their financial health by actively increasing their savings rates by 4.8x. As a financial technology nonprofit, SaverLife is uniquely positioned to help improve the financial health of low-income people while driving systemic change. Combining an innovative platform to engage and inspire savers, big data analytics that spur insight and perspective, and collaborative ventures throughout the business sector, SaverLife works in sync to deliver meaningful individual and systemic change. We drive savings at scale through an easy-to-use web-based platform, a vibrant online community, and empowering financial content curated by certified financial coaches. We help our members move along a path to savings through behavioral interventions provided by the SaverLife platform. SaverLife members can earn cash rewards for saving through our innovative savings challenges; we also use nudges via text and email to encourage members to save. Members can track their progress through a live dashboard. Our 610,000 members are encouraged to save and support one another by sharing their stories and strategies for saving through our community forum. SaverLife’s best-in-class technology provides effective savings products to our members and, in return, provides us with direct access to transactional and aggregate level data on their financial lives. We use our data and connection to members to identify systemic barriers to mobility and then engage with our members and partners to advance sustainable solutions to improve their individual and collective financial health.