How the Split to Save Program Works
Working together, we educate your employees on the benefits of direct deposit and split deposit to grow their savings by paying themselves first.
- Split to Save is a free, online program that motivates employees to split a portion of each paycheck toward a savings goal of their choice, including an emergency fund.
- America Saves creates a unique program link for your employees to use to complete the Split to Save program. We also provide guidance on how best to implement the program in your workplace.
- Employees complete three quick steps to enroll in Split to Save. Then they receive ongoing support, motivation, and information from America Saves through emails, segmented opt-in text messages, and social media.
The program is free and benefits employees and employers. 82 percent of U.S. workers use Direct Deposit, but only 24 percent of them split a portion of their pay into a non-retirement savings account. We can change that.
- Split Deposit provides automatic savings, convenience, control, and reliability.
- Workers who use Split Deposit save up to $90 more per month than those who use another method to save.
- Split Deposit can assist workers with their short- and long-term savings goals quickly and effortlessly.
- Split Deposit can build employee satisfaction.
In order to implement this program, you must provide the following:
- Direct Deposit with a Split Deposit option
- Provide the program electronically to employees