Jump to Content
ABA: The American Bankers Association
Skip Section Navigation

Savings Program for Homeowners

Regions Bank - Homeowners Program - Birmingham, AL

2022 Community Committment Awards Submission

  • Financial Education
  • Asset Size: Large

https://doingmoretoday.com/saving-grace/ Having emergency funds and healthy saving practices are essential to homeowner success. Atlanta Habitat for Humanity partnered with Regions Bank to offer Atlanta Habitat homebuyers the opportunity to establish and increase their savings through the Habi Savings Match Program. This 8-month savings match program was designed by Regions and Atlanta Habitat to actively help homeowners establish and continue lifelong savings habits while learning to make saved money grow. The program launched in 2021 by invitation only to those participants whose build date was impacted by COVID-19, and provided participants the opportunity to earn up to in a savings match provided by Regions Bank. To be eligible for the match, participants had to attend financial literacy classes taught by Regions and Atlanta Habitat as well as document consistent monthly savings. Ten completed all the requirements and earned the full match, with one winning a bonus match for a total of . Participants formed the Habi Club, allowing the cohort to support one another and increase their earnings through incentive programs. The Habi program allowed modest income homeowners to save more than they thought possible with financial education and support provided by Regions Bank and Atlanta Habitat. There will be three additional Atlanta Habitat cohorts in 2022, with no COVID-19 impact requirement for participation, as well as a new chapter in North Georgia scheduled to begin in the summer of 2022. We are eager to provide this training to the North Georgia chapter with financial education classes taught by Regions Bank associates, one-on-one financial coaching and additional presentations by external representatives around growing and protecting investments/wealth and home improvement.