SaveNOW is the first program in the nation to use a State Treasury’s linked deposit authority to offer bonus interest on savings accounts for citizens.

How it Works
How it WorksWhen participating banks agree to offer an interest bonus of at least .25% on a new savings account, the Treasury offers an additional 3% interest bonus. The bonus interest is made possible when the Treasury places a deposit at the bank and the interest earned on the investment is passed on to the saver as a 3% interest rate bonus at the end of one year.

Process Map

	Saver opens a SaveNOW savings account at a participating bank.
	Saver receives one year of personal finance education information from the Ohio Treasury
	Before the end of the one year account period, the saver is given a “then & now” financial literacy assessment. Saver completes and returns the assessment within the required timeframe.
	At the end of the one year account period, the saver is awarded 3% bonus interest on their account’s average daily balance by the Ohio Treasury and at least .25% bonus interest from the participating bank.
	After the one-year SaveNOW program cycle, the account will earn a rate established by the bank and no further bonus interest will be awarded.

Financial Education
Financial EducationSaveNOW account holders will receive one free year of the SaveNOW newsletter, by mail or e-mail, which is full of the latest tips and tools to help Ohioans secure their financial future. Topics include:

1. Budgeting
2. Investing
3. Financial planning
4. Saving
5. Credit & debt
6. Major purchases

The Ohio Treasury manages all mailing and distribution of this information.

Benefits
There are plenty of great benefits to offering the SaveNOW program at your bank:

• Encourages customers to open new savings accounts.
• Offers a large deposit banks wouldn’t otherwise access
• Incentivizes Ohioans to create a financial safety and enhances Ohio’s economic stability.
• Creates community goodwill during economic stress.
• Opportunity to participate in the first program of its kind in the nation.

Apply Today
In order to participate, banks must be a state depository.

Click here to download the easy application to offer SaveNOW at your bank.

Fax the completed application to 614-728-7651 or mail it to:

Ohio Treasurer of State
c/o Anika Chandler
Economic Development Department
30 E Broad St. Fl 9
Columbus, Ohio 43215

Questions?
Contact Anika Chandler, SaveNOW Program Administrator, Economic Development Department at 614-466-6546 or anika.chandler@tos.ohio.gov.

As with all of the products your bank offers, SaveNOW will require marketing attention to drive participation. Our task together is to convince Ohioans that saving their money in a hard-working SaveNOW savings account can be just as rewarding as spending.

To promote SaveNOW to you customers, the Treasury has made professionally produced marketing materials available.

For more information please contact Anika Chandler at 614-466-6546