WHEELING, W.Va., July 12, 2019 /PRNewswire/ -- WesBanco, Inc. (Nasdaq: WSBC), a diversified, multi-state bank holding company, today announced that its affiliate, WesBanco Bank, was recently recognized with the 2019 America Saves Designation of Savings Excellence for its extraordinary efforts during America Saves Week to encourage customers to save money through wealth-building accounts. The award is presented annually to financial institutions that demonstrate success encouraging and supporting their customers to save money and establish automatic savings plans.
WesBanco is proud of its more than 13-year partnership with America Saves to provide valuable financial resources to educate and encourage individuals about savings. Across Indiana, Kentucky, Ohio, Pennsylvania, and West Virginia, WesBanco actively encourages savings year-round with special products designed to encourage wealth building. In addition, WesBanco has become a participating employer in the Split to Save program, which motivates employees to split a portion of their regular pay for a savings goal of their choice to help with the stress and worry that comes about with financial emergencies and other issues.
"WesBanco is very pleased to be recognized, for the fourth consecutive year, by America Saves for our organization's efforts to encourage wealth-building," said Jennifer Mott, WesBanco's Executive Vice President for Retail. "WesBanco prides itself on delivering large bank capabilities with a community bank feel, which is one of the key reasons we were recently named the #7 best bank in America by Forbes magazine. Our customer-centric service culture is focused on building long-term relationships by pledging to serve our customers' personal financial needs. In addition, our employees collectively dedicate thousands of hours per year to savings education, including participation in Teach Children to Save, Get Smart About Credit, and Split to Save initiatives."
"Almost half of all Americans are facing a savings crisis with the inability to meet an emergency of $400 without incurring debt. That is a staggering statistic," said George Barany, Director of America Saves. "Financial institutions are in a unique position to positively impact their community's financial ability and stability. We are proud to recognize and highlight the significant achievements of 18 financial institutions. Together these banks and credit unions encouraged over 280,000 people to deposit just over a half billion dollars into new or existing accounts during America Saves Week. Furthermore, these awardees motivated more than 17,000 people to set up automatic saving, the key to any financial stability."
America Saves Week is an annual opportunity for people to assess their financial status and make a simple savings action plan that starts or increases their savings. The event is coordinated by America Saves, with input from planning support that includes federal government agencies, financial institutions, and non-profit organizations and educators. This is the fifth year of the America Saves Designation of Savings Excellence Award. WesBanco Bank was one of only 11 banks and 7 credit unions honored with this distinction.
About WesBanco, Inc.
Founded in 1870, WesBanco, Inc. (www.wesbanco.com) is a multi-state, bank holding company with total assets of approximately $12.6 billion (as of March 31, 2019). WesBanco is a diversified and well-balanced financial services institution, with a community bank at its core, built upon a strong legacy of credit and risk management. WesBanco has meaningful market share across its key geographies maintained by its commitment to dedicated customer service and solid fee-based businesses. It also provides wealth management services through a century-old trust and wealth management business, with approximately $4.5 billion of assets under management (as of March 31, 2019), and serves as registered investment advisor to a proprietary mutual fund family, the WesMark Funds. WesBanco's banking subsidiary, WesBanco Bank, Inc., operates 201 financial centers in the states of Indiana, Kentucky, Ohio, Pennsylvania, and West Virginia. In addition, WesBanco operates an insurance agency, WesBanco Insurance Services, Inc., and a full service broker/dealer, WesBanco Securities, Inc.
About America Saves
America Saves is a campaign managed by the nonprofit Consumer Federation of America that uses the principles of behavioral economics and social marketing to motivate, encourage, and support low- to moderate-income households to save money, reduce debt, and build wealth. America Saves encourages individuals and families to take the America Saves pledge and organizations to promote savings year-round and during America Saves Week. Learn more at americasaves.org and americasavesweek.org.
SOURCE WesBanco, Inc.