Louisiana Saves is a part of the national America Saves campaign and is administered by the Institute of Community Development, a Louisiana-based nonprofit organization. Louisiana Saves arose out of the need to help Louisianans secure a better financial future.
According to the US Census, 17 percent of the state population lived in poverty in 2003. This lack of wealth not only affects individuals and families, it affects communities as well. Financial problems at home reduce productivity at work. Those without a material stake in their community are less likely to take responsibility for maintaining or improving their community through civic engagement, volunteering, or other services. Additionally, poor communities may pay higher prices ranging from larger income transfer to high crime-related costs. Without a financial base to fall back on, many in our community cannot meet emergencies, afford a home, pay for their own or their children’s education, start a business, or support themselves in retirement.
Louisiana Saves was founded to address the decline of savings and the rise of debt in Louisiana, and to promote asset development and wealth-building among financially vulnerable individuals and families. The campaign's goal is to provide a means through which individuals and families can attain economic self-reliance and financial security.
