NEW YORK — The New York City-based bank among 16 banks nationally to receive America Saves Designation of Savings Excellence. Quontic Bank today received the 2017 America Saves Designation of Savings Excellence for its extraordinary efforts during America Saves Week, a national campaign to promote savings among low-to-moderate income individuals and underserved communities.

America Saves Week is an annual campaign across the United States, operated by America Saves and managed by the nonprofit Consumer Federation of America.

The America Saves Designation of Savings Excellence is presented each year to financial institutions that succeed in getting people to open and add to wealth-building accounts.

Quontic Bank was just one of 16 banks recognized nationally. This is the second year in a row Quontic Bank has won the national award.

“As a U.S.-Treasury designated Community Development Financial Institution, Quontic Bank is committed to providing financial products and services to low-to-moderate income people. America Saves shares these values.” said Steven Schnall, chairman and CEO of Quontic Bank.

“We’re proud to participate in America Saves Week because the campaign empowers people to get on a better financial footing by saving money.”

Just two in five American households report making good or excellent savings progress. America Saves Week is an annual opportunity for people to assess their savings status and make a plan to start or increase saving, and for banks to support good savings behavior. America Saves Week is coordinated each year by America Saves and the American Savings Education Council.

2017 America Saves Designation of Savings Excellence Recipients:

• Armed Forces Bank
• Bancorp South Bank
• Dean Bank
• Farmers Savings Bank
• First Arkansas Bank & Trust
• First Federal Savings and Loan Association of Port Angeles, WA
• FNB Community Bank
• Fort Hood National Bank
• Home Federal Bank
• M&T Bank Corporation
• Mechanics Bank
• Quontic Bank
• SmartyPig by Sallie Mae Bank
• Southern Bancorp
• Torrington Savings Bank
• WesBanco Bank, Inc.

“This was our most competitive year so far, with institutions engaging in creative ways and offering savings incentives,” said Allie Vered, America Saves Director.

“A lot of people don’t believe they can find the money to save. But saving is not an amount, it’s an activity. Convincing consumers to pay themselves first, to hang on to dollars instead of spending, and to take a pledge to achieve a goal go a long way towards helping them develop savings habits. We recognize Quontic Bank for their efforts to educate and inspire.”

Separately, sixteen credit unions received the America Saves Designation of Savings Excellence designation.