Access Bank begins scheme to boost savings culture

By The Citizen
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Access Bank Plc has announced the commencement of its 'Access Savings Challenge' aimed at promoting financial inclusion and literacy and encouraging savings culture among Nigerians. The bank explained that the campaign kicked off the same day the world celebrated the World Savers Day 2014. It added: 'The Access Savings Challenge is designed to spawn consciousness of customers on the importance of having a savings culture as prosperity begins with the first coin in the piggy bank. 'The challenge is riding on the Access Bank target savings account which is designed to help customers meet set target by saving a certain amount for a period of one year.'

Speaking on the scheme, Head, Inclusive Banking, Access Bank, Ope Wemi-Jones said: 'What is seemingly a simple idea - setting aside small sums in a savings account - actually has profound consequences on economic development and on personal financial well-being. 'Savings guard against risks like illness, unemployment and other economic hardship. And they are crucial for the economy. 'This is why Access Bank Plc has designed this campaign to encourage our customers set and meet their financial target, in a guided manner. All they need to do is get on the challenge by filling the ASC form at any of our branches nationwide to set a target to consistently save a certain amount of money for the period of one year.' According to the bank, the challenge is open to individuals 18 years and above. However, parents can take the challenge on behalf of their children who are less than 18 years On his part, Head, Products and Segments Team, Access Bank, Adeola Kusemiju said: 'We have also designed various means of encouraging our customers to excel in the Access Savings Challenge. 'This includes attractive interest rates, Interesting and enlightening articles in our Quarterly Target Saver Newsletter and monthly reminders.' It said existing customers could also open the target savings account, fill the pledge form and set up a standing order to start this challenge. The first World Savers Day was launched in October 1924 in Milan and Access Bank Plc with the Access Savings Challenge is proud to continue in this tradition - Thisday.