Simmons Bank's Round-Up Program Helps Customers Save Over $5.4 Million
Simmons Bank has announced impressive savings results from its automatic savings program, known as Round-Up. In the first eleven months of 2024, the program has helped customers save a staggering total of nearly $5.5 million. This achievement is primarily attributed to over 25,000 participants who opted into the program, demonstrating its popularity and effectiveness in assisting individuals with their financial goals.
According to a recent survey conducted by Bankrate, a significant number of U.S. adults express discomfort regarding their emergency savings. Specifically, 59% of respondents revealed they are uneasy with their current savings levels, while 27% admitted they have no savings set aside for emergencies—a statistic that marks the highest percentage since 2020. In light of this, Simmons Bank's Round-Up program emerges as a valuable tool to combat these financial uncertainties.
Joshua Jensen, chief deposit officer at Simmons Bank, highlighted the program's convenience, stating, "The Simmons Bank Round-Up savings program makes saving effortless for our customers by automating the process, allowing them to steadily contribute toward their rainy day or financial goals." This technology enables savings to accumulate with ease, requiring no extra time or effort from customers. Every time a customer makes a debit card transaction, the program automatically rounds up the purchase amount to the nearest dollar and deposits the difference into the customer's chosen savings or checking account. Thus, small purchases can result in substantial savings over time.
Since its inception in 2014, the Round-Up program has aimed to simplify the saving process for customers who utilize their debit cards regularly. The automatic nature of this system allows participants to save more without having to think actively about setting money aside for future needs.
The implications of such a program are particularly noteworthy given the current economic landscape, where financial stability is a primary concern for many individuals. Programs that foster saving habits are essential as they provide an avenue for individuals to prepare for unforeseen financial challenges. Not only does Round-Up encourage individuals to develop saving habits, but it also offers the security of knowing that savings can be built up over time, however small the transactions may seem.
Simmons Bank operates as a wholly owned subsidiary of Simmons First National Corporation (NASDAQ: SFNC), a well-established financial holding company. With over 234 branches across Arkansas, Kansas, Missouri, Oklahoma, Tennessee, and Texas, Simmons Bank prides itself on providing customer-centric banking services tailored to meet individual financial needs. The institution has earned accolades for its excellence in service and workplace culture, being recognized in 2024 by U.S. News & World Report as one of the best companies to work for in the South and by Forbes as one of America's best state banks in Tennessee and as one of the best employers in Missouri.
For those interested in learning more about Simmons Bank or the innovative Round-Up program, additional details can be found at the bank's official website, simmonsbank.com. They maintain an active online presence, including updates on social media platforms such as X (formerly Twitter) and their newsroom, keeping customers informed and engaged.
In conclusion, Simmons Bank's Round-Up program represents a forward-thinking approach to personal finance, providing a simple yet effective method for customers to build their financial cushions without the need for complex planning or dedicated savings efforts. This initiative stands out as a testament to Simmons Bank's commitment to enhancing the financial wellness of its customers through innovative solutions that promote sustainable saving methodologies.
According to a recent survey conducted by Bankrate, a significant number of U.S. adults express discomfort regarding their emergency savings. Specifically, 59% of respondents revealed they are uneasy with their current savings levels, while 27% admitted they have no savings set aside for emergencies—a statistic that marks the highest percentage since 2020. In light of this, Simmons Bank's Round-Up program emerges as a valuable tool to combat these financial uncertainties.
Joshua Jensen, chief deposit officer at Simmons Bank, highlighted the program's convenience, stating, "The Simmons Bank Round-Up savings program makes saving effortless for our customers by automating the process, allowing them to steadily contribute toward their rainy day or financial goals." This technology enables savings to accumulate with ease, requiring no extra time or effort from customers. Every time a customer makes a debit card transaction, the program automatically rounds up the purchase amount to the nearest dollar and deposits the difference into the customer's chosen savings or checking account. Thus, small purchases can result in substantial savings over time.
Since its inception in 2014, the Round-Up program has aimed to simplify the saving process for customers who utilize their debit cards regularly. The automatic nature of this system allows participants to save more without having to think actively about setting money aside for future needs.
The implications of such a program are particularly noteworthy given the current economic landscape, where financial stability is a primary concern for many individuals. Programs that foster saving habits are essential as they provide an avenue for individuals to prepare for unforeseen financial challenges. Not only does Round-Up encourage individuals to develop saving habits, but it also offers the security of knowing that savings can be built up over time, however small the transactions may seem.
Simmons Bank operates as a wholly owned subsidiary of Simmons First National Corporation (NASDAQ: SFNC), a well-established financial holding company. With over 234 branches across Arkansas, Kansas, Missouri, Oklahoma, Tennessee, and Texas, Simmons Bank prides itself on providing customer-centric banking services tailored to meet individual financial needs. The institution has earned accolades for its excellence in service and workplace culture, being recognized in 2024 by U.S. News & World Report as one of the best companies to work for in the South and by Forbes as one of America's best state banks in Tennessee and as one of the best employers in Missouri.
For those interested in learning more about Simmons Bank or the innovative Round-Up program, additional details can be found at the bank's official website, simmonsbank.com. They maintain an active online presence, including updates on social media platforms such as X (formerly Twitter) and their newsroom, keeping customers informed and engaged.
In conclusion, Simmons Bank's Round-Up program represents a forward-thinking approach to personal finance, providing a simple yet effective method for customers to build their financial cushions without the need for complex planning or dedicated savings efforts. This initiative stands out as a testament to Simmons Bank's commitment to enhancing the financial wellness of its customers through innovative solutions that promote sustainable saving methodologies.
Topics Financial Services & Investing）
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