Southern Bancorp promotes savings

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Southern Bancorp Bank partnered with Southern Bancorp Community Partners (SBCP), a 501(c) (3) development finance organization and loan fund to empower families and individuals to save money, reduce debt and build wealth as part of America Saves Week 2020.

"Southern looks forward to participating in America Saves Week every year as it aligns with our goal to empower one million people to save over the next ten years," said Darrin Williams, Southern Bancorp, Inc. CEO. "We believe that saving is the foundation to building wealth, and it our mission to be wealth builders for everyone."

The states of Arkansas and Mississippi are also encouraging their residents to commit to saving and building long-term wealth. Mississippi Governor Tate Reeves recently proclaimed February 24 – 29 to be Mississippi Saves Week. Arkansas Governor Asa Hutchinson also signed a proclamation naming the same week as Arkansas Saves Week.

In an effort to make saving more successful and consistent, Southern encourages everyone to make a basic savings plan using the America Saves Pledge. When someone takes the pledge, they identify a savings goal (such as a home down payment or vacation), an amount to save per month, and the number of months they will save that amount. Throughout the year America Saves will send out savings tips and reminders to help you stay on track with your goal. Participants can take the pledge at https://banksouthern.com/americasaves/.

Free resources for saving, budgeting and reducing debt can also be found year round at http://southernpartners.org/learning-center/.

Southern Bancorp, Inc., a bank holding company; Southern Bancorp Community Partners, a 501(c)(3) development finance and lending organization; and Southern Bancorp Bank, were founded in 1986 by a group of leaders who were concerned about the economic decline of rural Arkansas. .


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