NetSpend's Natonal Saving Program

These consumers have deposited more than $35 million into their accounts. The NetSpend National Savings Program is available to consumers exclusively through FiSCA-member locations where a wide array of other financial services are also available, such as check cashing, money transfers, money wiring and bill payment.

"More than 56 million Americans do not use banks or credit unions, either because they do not want to or because they do not qualify to do so. We teamed up with NetSpend to develop this savings program so that these consumers have a way of saving for the future," said Bill Siegel, Chairman, FiSCA Savings Program Committee. "It truly is a one-of-a-kind product, and the results clearly illustrate the desire among these consumers for a savings option."

Through the National Savings Program, people can easily transfer money back and forth between their debit card and their savings account - at no cost. The savings account is FDIC-insured, and pays 3% interest - significantly higher than most banks or credit unions are offering today. There is no minimum balance requirement and no cost to open or maintain the savings account.

"Wealth accumulation is crucial for everyone, and the National Savings Program provides a tool that households outside the sphere of traditional banking services can use to begin saving," said Rick Savard, chief executive officer of NetSpend. "Our customers told us this option was essential if our card is going to be the bank in their wallet."