LURAY, Va., June 20, 2016 /PRNewswire/ -- On June 15, 2016 Blue Ridge Bank Chief Executive Officer, Brian K. Plum, spoke before the United States Senate Special Committee on Aging. Plum provided testimony during the Senate Special Committee hearing, "Closing the Gap: Innovations to Promote Americans' Financial Security."
Blue Ridge Bank was the first bank in the U.S. to offer a prize-linked savings account incentivizing individuals to increase their personal savings. Blue Ridge Bank began offering its Jackpot Savings Account July 1, 2015, the first day banks in Virginia were eligible to do so. The eagerness of Blue Ridge Bank to implement new products and technology to encourage consumers to save more is what led the Senate committee to approach CEO Plum to provide testimony. Plum addressed the previous and continued initiatives Blue Ridge Bank is taking to encourage personal savings.
Plum closed his testimony with a strong statement regarding Blue Ridge Bank's commitment to increasing personal savings in America. "A crisis in emergency savings today is an unimaginable retirement savings problem tomorrow. Blue Ridge Bank and I stand ready and willing to commit as much time, energy, and insight as we possibly can and be as much of a resource for this committee and staff to make progress on this critically important topic," said Brian K. Plum, President and Chief Executive Officer.
A recording of the hearing can be found at http://www.aging.senate.gov/hearings/closing-the-gap-innovations-to-promote-americans-financial-security.
About Blue Ridge Bank
Blue Ridge Bank is headquartered in Luray, VA. Chartered in 1893 as the Page Valley Bank of Virginia, today Blue Ridge Bank has additional branches in Shenandoah, McGaheysville, Charlottesville, and Harrisonburg. Celebrating 122 years as a locally owned, independent community bank, Blue Ridge Bank provides a wide range of financial services. Visit www.mybrb.com for more information. Blue Ridge Bankshares, Inc. (OTC Pink: BRBS) is the parent company of Blue Ridge Bank.
Brian K. Plum
CEO Blue Ridge Bank
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SOURCE Blue Ridge Bankshares, Inc.