Our Challenge

Saving and asset building are essential components for financial well-being.  Yet the national saving rate is less than zero; far less than previous generations and less than any other industrialized nation.  In addition, consumer debt has more than doubled in the last 10 years.  By the end of January 2006, consumer debt reached a staggering $2.16 trillion, according to the Federal Reserve Board.  More than one million consumers filed bankruptcy in 2005.  Lack of saving and an increased dependence on credit are two disturbing trends that are threatening the financial future of several generations, the economic viability of our communities and the financial freedoms we hold so dearly.     

Few states experience more of a challenge with its citizens managing their personal finances than Colorado, where bankruptcy filings have nearly tripled in the past five years (ABI World).  Sadly, Colorado ranks number one among all 50 states in home foreclosures (RealtyTrac, May, 2006).  ColoradoSaves mobilizes private sector, government, nonprofit organizations and community resources to promote financial well-being and asset building among all Coloradoans, especially low to moderate income families and families lacking appropriate assets to carry them through a financial hardship.

Soon ColoradoSaves will be extended to all consumers within the state through a partnership with Colorado State University's Cooperative Extension, but for now, services outside Metro Denver may be limited.