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What is SaverLife CT?
SaverLife CT is a free online program that actually pays people to save! It is part of the Connecticut United Ways’ ALICE Saves initiative, in partnership with EARN, an innovative nonprofit organization.
How does SaverLife CT work?
It works like this: Individuals link their bank accounts to EARN’s savings program, called SaverLife. Savers who put aside at least $20 per month will earn $10 for each month that they hit the savings goal during the 6-month period after which they sign up. By keeping their bank accounts linked, Savers will also have opportunities to win additional prizes.
How do I join SaverLife CT?
To participate in SaverLife CT, go to http://www.ctalicesaves.org and sign up.
(Important: To receive the savings rewards, in addition to the chance to win prizes, you must sign up on the above website, not on SaverLife’s national website.) To register, you must have an account with a bank or credit union based in the United States that participates in SaverLife.
Am I eligible for SaverLife CT?
To join SaverLife:
• You must be at least 18 years old.
• You must have a valid email address.
• You must have an account in your name at a bank or credit union based in the United States and be enrolled in online banking with valid credentials.
– SaverLife supports over 9,000 financial institutions in the United States, so if your bank or credit union is in the U.S., SaverLife can probably connect to it. SaverLife even connects to your PayPal account!
How can I win prizes for saving?
You can enter to win prizes by saving, pledging, sharing your story, and more! Our prize offerings change regularly.
How is my information protected?
SaverLife uses the same encryption and security standards as banks. We’re also verified and monitored by third party experts, and we follow the Open Web Application Security Project and industry best practices for Web application security.
All the data in our system is stored in an encrypted form. SaverLife only tracks your transaction amounts, and we don’t store your online banking credentials. You may change your online banking credentials or unlink your account at any time.
What kind of bank account should I link?
We highly recommend that you use a savings account.
We’ve found that people who link a savings account are more successful in reaching their savings goals. A savings account allows you to put away money that you won’t need to use for daily expenses.
Note: Certificate of Deposit (CD) accounts or IRA/retirement accounts are not compatible with our platform.
What if I don’t have a bank account?
Not a problem— you can open one today! We highly recommend opening a savings account. You must have a bank account with online banking credentials to sign up for SaverLife.
When opening a bank account, we suggest that you look for an account with no monthly maintenance fees, no minimum balance requirements and conveniently located ATMs or local branches.
We also recommend that the financial institution you choose is either FDIC insured (for banks) or NCUA insured (for credit unions). When you go to open a bank account (or open it online) be sure to bring your social security card or individual tax identification card.
Once you have set up online banking, you can link your bank account to SaverLife.
What financial institutions are supported?
SaverLife supports over 9,000 financial institutions in the United States, so if your bank or credit union is in the U.S., SaverLife can probably connect to it. SaverLife even connects to your PayPal account!
How is SaverLife CT funded?
SaverLife CT (and ALICE Saves) are generously funded by grants from JPMorgan Chase and Webster Bank, along with support from Connecticut United Ways.
How do I get help with my SaverLife CT account?