4th Annual "Roll in the Dough" Campaign Reminds Maryland Residents that You Don't Have to be Rich to Build Wealth

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Consumers are encouraged to visit one of the 70 participating locations of the sponsoring banks and credit unions between February 22 - March 6 to open or add to new savings vehicles -- including CDs, money market accounts, IRAs, and savings bonds as well as traditional savings accounts. A variety of prizes will be awarded, including a $1000 CD, seven $100 cash prizes, and two $50 savings bonds for winners of the children's coloring contest.

2010 Roll in the Dough Campaign poster by artist Joan Lok

Campaign Chair Joan Lok is also a celebrated artist. She created this illustration for the 2010 Roll in the Dough Campaign.

It’s extremely encouraging that more and more Americans are finding ways to save, especially during these difficult economic times. Last year, we saw over $9.9 million in new deposits during the campaign, thanks to over 4,000 participating savers.

Continuing its commitment to promote good savings habits even in tough economic times, Maryland Saves' 2010 “Roll in the Dough” campaign enters its 4th year with seven sponsoring financial institutions from Maryland and the District of Columbia. The 2010 campaign sponsors include: The Columbia Bank, FedChoice Federal Credit Union, HEW Federal Credit Union, M&T Bank, TD Bank, Municipal Employees Credit Union (MECU) and Slavie Federal Savings Bank. A full list of all the participating branches is available on the Roll in the Dough Facebook page.

This year’s Grand Prize is a $1,000 one-year Certificate of Deposit. Each of the seven sponsoring financial institutions will also award a $100 cash prize to consumers who have visited that sponsor’s branch locations. Once again The Columbia Bank will sponsor an additional prize this year: It will award a $500 CD to one lucky consumer selected by random drawing who completed an entry form at one of its 34 participating branches.

A new prize structure this year will award two $50 savings bonds to winners of the children’s coloring contest based on age group. The entry form for that contest is a drawing of three pigs “rolling in the dough”. It can be downloaded and printed from the Roll in the Dough Facebook page or from the Maryland Saves website so that children can color the illustration and then submit their entry by bringing it into a participating bank or credit union. A list of all the participating branches for the sponsoring banks and credit unions is available on the Roll in the Dough Facebook page as well as the Maryland Saves website.

Joan Lok, who has chaired this campaign since its inception, commented on the success of the program that has nearly doubled in size year over year. “It’s extremely encouraging that more and more Americans are finding ways to save, especially during these difficult economic times. Last year we saw $9.9 million in new deposits, thanks to over 4,000 participating consumers.”

Maryland’s Governor O’Malley is expected to proclaim February 22 to March 6, 2010 as “Maryland Saves Weeks” to emphasize the importance of savings to all Marylanders.

Research shows that there are savers and spenders in all income classes. While those with modest incomes cannot save as much as the affluent, almost all have the ability to build wealth over time. Through contributions to a workplace retirement program, home purchase, and other savings during their working years most can accumulate six-figure assets.

Several community organizations are also partners in the 2010 campaign. They include Federal Deposit Insurance Corporation (FDIC), Housing Opportunity Commission of Montgomery County, Neighborhood Housing Services (NHS) of Baltimore, and the University of Maryland Cooperative Extension. NHS will offer a free “Financial Fitness” event on Tuesday, March 2 from 5-9 pm. Presentations will cover budgeting, savings, types of bank accounts available, and ways to save. To reserve your space call 410-327-1200 or register at http://www.NHSBaltimore.org.

“Roll in the Dough” is Maryland Saves’ response to the larger, nationwide campaign, America Saves Week. Maryland Saves is a statewide social marketing campaign launched in 2005 that encourages individuals to save money, reduce debt and build wealth. America Saves is an eight-year-old social marketing effort that encourages non-saving Americans to develop good savings habits. About 1,000 organizations in over 50 localities participate, and these organizations have encouraged and assisted hundreds of thousands of savers, especially the more than 138,000 who have enrolled as “American Savers”.    

For updates on the 2010 “Roll in the Dough” campaign, visit: http://www.facebook.com/rollinthedough

Or contact Joan Lok, Campaign Chair, jlok(at)fdic(dot)gov, at 410-872-9024 x 4032.

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Linda Kempin

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