Department of Financial Institutions
DFI Supports Kentucky Saves Week With Workshop
FRANKFORT, Ky. – (Feb. 21, 2011) –The Department of Financial Institutions (DFI) encourages every Kentuckian to save money, and there’s no better time for a reminder than during Kentucky Saves Week, Feb. 20-27, 2011.
“Starting small can have big results,” said DFI Commissioner Charles Vice. “Kentucky Saves Week is a great time to make a personal commitment to save money. Whether saving to pay down debt or investing in your future retirement, every dollar will make a difference. And the sooner you start saving, the more time that money has to accumulate interest.”
DFI is presenting a free, public workshop on saving money for Kentucky Saves Week on Thursday at 6:30 p.m. at United Way of the Bluegrass, 2480 Fortune Drive Suite 250, Lexington. To register, call Mike Burke at 859-233-4461 ext. 238. While the general public is welcome to attend and may benefit from hearing these savings tips, this workshop also will satisfy some financial literacy requirements of the Back on Track program. Back on Track will enable 425 low-income individuals and families in Central Kentucky to participate in matched savings Individual Development Accounts (IDAs). After reaching their savings goal and attending workshops such as this one, participants can use their IDA savings to purchase their first home, start a small business or continue their education.
Governor Steve Beshear again issued a proclamation supporting Kentucky Saves Week. DFI also is participating in other activities during Kentucky Saves Week, as a partner in the Kentucky Saves campaign. DFI reserved a display case in the Capitol to showcase the winning entries in the University of Kentucky Cooperative Extension Service’s statewide piggy bank contest.
A press conference on Tuesday at 2 p.m. in the Capitol Rotunda will showcase these winners, along with the winners of the Kentucky Jump$tart student poster contest. The posters, with a theme of “Saving Money Now Can Brighten Your Future,” will be on display Monday through Friday in the Capitol/Annex tunnel. The tunnel display, along with the Kentucky Jump$tart information table in the Annex on Tuesday and Wednesday, will feature information on Jump$tart partners, including DFI.
DFI offers free information online about saving and investing at www.kfi.ky.gov/public/invest.html. Before investing, Kentuckians can check out the investment product and the person selling it by calling DFI at 800-223-2579.
To register as a Kentucky Saver, click the “enroll” link at www.kfi.ky.gov. More information about the America Saves Campaign, of which Kentucky Saves Week is a part, can be found online at www.AmericaSaves.org.
DFI is an agency in the Public Protection Cabinet. It supervises the financial services industry by examining, chartering, licensing and registering various financial institutions, securities firms and professionals operating in Kentucky. DFI’s mission is to serve Kentucky residents and protect their financial interests by maintaining a stable financial industry, continuing effective and efficient regulatory oversight, promoting consumer confidence, and encouraging economic opportunities.