CU Solutions Group’s partner SaveUp has been chosen to participate in this year’s Clinton Global Initiative America to help 250,000 Americans build $5 billion in asset growth through savings and debt reduction by December 2014, the Michigan-based CUSO said.
Founded by former President Bill Clinton, the Clinton Global Initiative America focuses on developing solutions that promote economic recovery in the U.S.
SaveUp was invited by the Clinton Global Initiative America this year to make a “commitment to action” to achieve the December 2014 goal, the CUSO said.
San Francisco‐based SaveUp created what it called the first free nationwide rewards program that partners with major consumer brands and financial institutions to encourage consumers to save money and pay down debt for an opportunity to win a wide range of prizes such as cars, vacations and a $2 million jackpot.
“We are excited to be a partner in SaveUp’s commitment and to help reach out to credit unions to encourage their participation as well,” said David Adams, president/CEO of CU Solutions Group of Livonia, Mich., and CEO of the Michigan Credit Union League.
Currently, SaveUp users, which include members from 44 credit unions around the nation, have deposited more than $492 million into savings and paid down $326 million in debt since 2012, the companies said.
To achieve the Clinton Global Initiative America goal by December 2014, CU Solutions Group and SaveUp are working together to build new partnerships with credit unions to help more members save money and lower debt to improve their financial lives, the companies said.
“CGI America is truly a unique opportunity for us to help Americans achieve their financial goals in a fun new way. We pride ourselves on offering credit unions and their members, especially Gen X and Gen Y, an innovative solution to help them save money and pay down debt,” said SaveUp CEO Priya Haji.