About the Initiative
Enabling millions of Americans
to build financial security through savings
Grappling with income and expense volatility and a lack of accessible savings tools, millions of Americans are struggling to create a financial cushion for themselves and their families.
In February 2019, BlackRock announced a $50 million commitment to help people living on low- to moderate-incomes gain access to and increase usage of proven savings strategies and tools – ultimately helping them establish an important safety net.
Through collaboration between leading industry experts and companies, the initiative aims to test and scale high-quality, proven savings innovations such as prize-linked savings, rounding up transactions or rounding down deposits, and percent-based automatic savings transfers aligned with income.
Protect More People
41% of Americans would have to sell a personal item or borrow money to cover an unexpected $400 expense.  We’ll recruit companies to achieve scale in addressing this lack of financial resiliency with employees and customers.
Build Better Savings Options
The initiative aims to help more people build savings through the development of well-designed savings tools that will address challenges faced by low- to moderate-income households.
Drive Widespread Progress
We’ll bring together industry experts, major employers, and financial services companies, including fintechs, to share the insights and outcomes, learnings and perspectives needed to address this complex problem.
The deadline to join the Year One cohort is May 31, 2019.