WASHINGTON, D.C.– The New York City-based bank honored at a ceremony in Washington.
New York City-based Quontic Bank was recognized in Washington, D.C. this week for its exemplary participation in America Saves Week, a national campaign to promote savings among low- to moderate-income individuals and underserved communities.
America Saves, a national campaign managed by the nonprofit Consumer Federation of America, recognized Quontic Bank for how it successfully spread the saving message and encouraged people to make savings automatic in a number of ways; Quontic Bank offered a special promotion that featured a high interest savings account, hosted a free financial literacy workshop at its Astoria branch and promoted savings through digital media and social media campaigns.
“Quontic Bank is a U.S. Treasury designated Community Development Financial Institution—a valued designation held by less than 2% of all banks—which means we’re committed to providing financial products and services to low- to moderate-income people,” said Steven Schnall, chairman and CEO of Quontic Bank.
“Our participation in America Saves Week made a lot of sense because it seems America Saves shares our mission and values.”
Quontic Bank was recognized at the America Saves National Savings Forum on Wednesday, where it received a Designation of Savings Excellence plaque.
“America Saves launched the America Saves Designation of Savings Excellence in 2015 to recognize banks that go above and beyond to promote and support saving during America Saves Week,” said Nancy Register, National Director of America Saves.
“This year we are proud to recognize and announce the second group of banks that achieved this designation.”
America Saves Week is an annual opportunity for banks to encourage individuals to save money – with an emphasis on reaching low- to moderate-income families. America Saves recognized exceptional banks that succeed in promoting savings or other wealth building accounts and have high levels of accounts opened or added to during America Saves Week 2016. For more information about the America Saves Designation of Excellence for Banks, please visit http://americasavesweek.org/for-organizations/financial-institutions/bank-designation-of-excellence-criteria.