Building savings is critical to establishing financial security. The ability to save underpins financial health for low-income and low-wealth households. It also serves as an important indicator of the broader health and well-being of the economy.
However, American families aren’t saving as much as they used to. Rising costs for essentials such as housing, transportation, childcare and energy bills are consuming incomes more rapidly, making it nearly impossible to set aside money that can go towards building assets and economic stability.
In August 2025, the US personal saving rate was 4.6%, lower than the rate one year before (5.2%) and significantly lower than the long-term average of 8.42%. An estimated 30% of Americans do not have sufficient savings to cover three months of emergency expenses, and 24% have no savings at all.
Edward Jones, a major financial services firm, and Inclusiv, a national network of community development credit unions, are working to address Americans’ savings challenges. In our experience at both of these organizations, we have seen firsthand the importance of building a more inclusive economy.
Edward Jones is supporting savings through the firm’s Financial Futures program, a national collective impact model that helps Americans build and protect wealth. It invests in non-profits, fintechs, public benefit corporations, data providers, CDFIs and credit unions. Inclusiv supports low-income customers with savings incentives through credit unions via the Build and Save Matched Savings program, which is made possible by the Financial Futures program.
Matched savings in action
There are tools available to help families in times of financial uncertainty. Credit unions, savings circles, and mutual aid societies have a long history of showing that, with the right combination of incentives and support, people of all incomes can build savings and improve their financial outlook.
Matched savings programs are a key tool for providing financial incentives to save. Participants set a savings goal and receive a pledged match once they reach it. These programs range from initiatives that help low-income households build savings for high-return assets and close the wealth gap to targeted matches for specific purposes. They can also address urgent needs, such as helping young people aging out of foster care build financial stability or enabling residents in disaster-prone areas to invest in greater resilience.
Matched savings programs provide a safe, affordable and accessible savings vehicle. Pairing matched savings programs’ incentives with financial education or financial coaching is key to helping families learn how to save for now and the future.
The partnership between Edward Jones and Inclusiv enables credit unions to launch or expand matched savings programs that help members reach key financial milestones—such as buying a home or car—or build emergency savings to avoid debt. These incentives help people build assets that support continued financial stability and growth.
One example is the St. Louis Community Credit Union, which offers savers a match ranging between one-to-one and ten-to-one. It also offers a prize-linked savings program that rewards qualified participants with the chance to win monthly, quarterly and annual cash prizes. In 2024, 783 participating members achieved an average account balance of $673 through the Save to Prosper program and 142 people enrolled in the matched savings program, saving a combined $76,750 that was matched with $202,535 to assist with debt reduction, college expenses, home repairs and more.
Edward Jones’ initial investment in the St. Louis Community Credit Union catalyzed additional support from local funders, resulting in more than $1 million in grants to nonprofit partners to launch or expand matched savings programs aligned with the credit union’s model.
Demand for savings and investment platforms
Today, the demand for the Build and Save program is growing. What started as a pilot program by Inclusiv in 2024 with two credit unions has grown to a community of 28 credit unions awarded a total of $2.7 million so far through this partnership.
Through matched savings programs, credit unions are shaping investors’ futures and building financial literacy. A recent study revealed that more than half of lower- and middle-income Americans hold retail investments, demonstrating a desire to build wealth for the future. While investment firms increasingly seek to engage this market of investors through investment platforms and financial technology solutions that increase accessibility, building trust through financial education, early engagement and transparent practices is deeply valued among lower-income investors. Build and Save offers a blueprint for building informed and confident investors and strong and lasting relationships with the financial services industry.
Today’s savers are the investors of tomorrow. By removing barriers, we can help more individuals and families build and maintain wealth.
Cathie Mahon is the President and CEO of Inclusiv, a national network of community development credit unions. David Stiffler is the Director of Economic Mobility at Edward Jones.
Guest posts on ImpactAlpha represent the opinions of their authors and do not necessarily reflect the views of ImpactAlpha.
