Sponsored content from JP Morgan Chase.
A newly launched Houston Saves campaign offers Houstonians a chance to get matching funds to build a savings nest egg and achieve a greater sense of financial stability.
A partnership of United Way, JPMorgan Chase, and the nonprofit SaverLife, the Houston Saves campaign rewards qualifying participants who set aside at least $30 monthly with a $20 monthly match for up to six months, along with a $5 gift for signing up at saverlife.org/houstonsaves.
”Many Houstonians were unprepared financially for the sudden and ongoing economic crisis created by the COVID-19 pandemic, so our hope is that Houston Saves will help individuals regain some savings through this matching opportunity so that they have some funds in reserve for the next emergency,” said Becca Fritze, a manager for United Way of Greater Houston’s THRIVE program.
Nearly four in 10 households in Harris County don’t have the $400 needed to weather an emergency, such as a natural disaster, medical payment, or car repair. Houston Saves encourages participants to create savings habits that will help them plan for a future emergency or save for future goals.
“For many new savers, a nest egg means housing security instead of the fear of homelessness. In the event of a personal or natural disaster, their savings accounts will be critical for helping them afford their rent and income fluctuations,” said Carolyn Watson, vice president of and head of JPMorgan Chase’s philanthropic efforts in Houston.
Of the 252 participants in a January 2019 pilot matched savings program, 65 percent increased their savings and on average, saved $712. The total savings to date from the pilot is $98,191.
Houston Saves participants will also have access to one-on-one financial coaching through United Way THRIVE. Since its inception, United Way THRIVE has helped more than 211,000 families on the path to financial stability.
For more information and to sign up for Houston Saves, visit www.saverlife.org/houstonsaves