This has been the most challenging year. SaverLife strives to help families prepare for financial emergencies, but we never imagined a crisis of the magnitude or reach of the COVID-19 pandemic. We hope the health crisis will decrease in the spring, but the economic consequences will be long lasting.
The impact on SaverLife members has been especially devastating. Our latest research found that 73% of you are unemployed or have lost hours at work as a result of the pandemic. Credit card balances are 56% higher than the same time period last year, and grocery store spending remains elevated. Saving money has never been more difficult.
One thing that has stayed constant in these difficult times is the resilience of SaverLife members—all 460,000 of you. SaverLife has always been a savings platform, but this is the year it truly became a community—because of you. From words of encouragement in the forums, to strangers sharing SaverLife resources on Facebook, SaverLife members are supporting each other like never before.
In 2020, we were honored to share the stories of people like Heather, a hospice nurse recovering from an unexpected layoff, and Monica, a mother who struggled to save money after her rent was increased, but still found a way to give back to her neighborhood. Your stories of hope and resilience are the reason we come to work every day, and we will keep fighting for you.
As we look to 2021, I remain committed to advocating for you and providing help whenever we can. Until then, thank you for all you bring to our community and know that, no matter what your circumstances, you are not alone.