©2013 D2DFund, Inc. Savings Bond Working Group Call June 27, 2013 Toll free: Pass code: #

©2013 D2DFund, Inc. Agenda 1.SaveYourRefund: Results 2.SaveYourRefund: Next Steps 3.Savings Bond Policy Plan 4.Pilot 5.Wrap Up: Next Steps

©2013 D2DFund, Inc. SaveYourRefund: Results Summary: Small scale, but a promising trajectory -SaveYourRefund entrants have reported $700,000 in split refunds saved, including $76,700 saved in U.S. Savings Bonds -Average refund amount of entrant was just over $3000 -Average amount saved per entrant: $800 -Median amount saved: $ % all entrants reported they did not know about the opportunity to save a portion of their refund before learning of the promotion Big Picture: Early Results

©2013 D2DFund, Inc. SaveYourRefund: Results  Congratulations to Lilly Roman of Manchester, NH  Our $25,000 Grand Prize winner!  Thanks to Mayor Ted Gatsas and the Granite United Way for helping the D2D team award Lilly her giant check! We have a winner!

©2013 D2DFund, Inc. Lilly’s story All Lilly could do was scream when she heard the news that she was selected as the $25,000 Grand Prize winner of the SaveYourRefund tax-time promotion! This was the first year that Lilly saved at tax time. She’d heard about the promotion from her volunteer tax preparer who encouraged her to save and enter. She agrees that most people think that winning a prize is an incentive to save, but her biggest motivation to save was her children. The mother of three- who is saving for a rainy day- has two elementary-school aged kids and one in who is in middle school; she explains that her kids push her towards getting the most out life. Her advice to others about saving is to “save as much as you can, especially [if] you have kids…so many things can happen, like emergencies, that you want to be prepared!” The 29-year old lives in Manchester, New Hampshire and works as a certified medical assistant in a family practice. She had her taxes prepared at Manchester VITA (Volunteer Income Tax Assistance) at Workplace Success, a Grantie United Way site.Workplace Success, a Grantie United Way site.

©2013 D2DFund, Inc. SaveYourRefund: Results Big Picture: Survey Results (n=269)  74% of respondents had never heard of Form 8888 before learning about SaveYourRefund  83% had never used Form 8888 to save on their tax form  VITA played a major role: 45% all entrants are VITA clients

©2013 D2DFund, Inc. More Results  Potential for future saving…  ALL but 1 person of 269 said they would definitely or probably save again next year Would a chance to enter SaveYourRefund next year make you more likely to do so?

©2013 D2DFund, Inc. Agenda 1.SaveYourRefund: Results 2.SaveYourRefund: Next Steps 3.Savings Bond Policy Plan 4.Pilot 5.Wrap Up: Next Steps

©2013 D2DFund, Inc. SaveYourRefund: Next Steps Evaluation What worked, what didn’t, how can we drive take up next year? Designing for SaveYourRefund 2014 Legal considerations Outreach and marketing Higher touch strategy to engage VITA Early commitment form national partners to ensure broader awareness Continue to build constituency for tax time savings and savings bonds Gearing up for a fall awareness building and January launch! Visit us at NCTC In New Orleans; Help us spread the word!

©2013 D2DFund, Inc. Agenda 1.SaveYourRefund: Results 2.SaveYourRefund: Next Steps 3.Savings Bond Policy Plan 4.Pilot 5.Wrap Up: Next Steps

©2013 D2DFund, Inc. Savings Bond Policy Plan Overall Goals: Protect the Tax Time Savings Bond Opportunity Keep bonds accessible year–round and at tax time

©2013 D2DFund, Inc. Savings Bond Policy Plan Short Term Goals (next 24 months):  Get Formal commitment from Administration that they will test a new bond distribution channel by 2016  Next iteration of Treasury Direct includes specific features/infrastructure to enable other distribution  Formal commitment from Administration that they will continue to offer TTSB in tax season 2015  Increase support for campaign via increased commitment from national organizations, legislators, and administration

©2013 D2DFund, Inc. Savings Bond Policy Plan Strategies : 1.White House/West Wing codification of bonds a.Put into regulation TTSB (try to get some stronger codification without legislation) 2.Legislatively mandate TTSB a.Find sponsor to draft sample legislation b.Attach it to tax reform bills c.Attach to other “pro savings” bill

©2013 D2DFund, Inc. Savings Bond Policy Plan Strategies cont.: 3. Codify requirement for new electronic (or “accessible”, as we define a.Explore Administration support channels (OMB, WH, Treasury) b.Legislatively mandate (using ways similar to #2)

©2013 D2DFund, Inc. Savings Bond Policy Plan Next Steps: 1.D2D team to detail out plan for 24 months and conduct necessary research for strategies. 2.SBWG opportunities: Currently working with some SBWG members to draft and refine plan SBWG connecting to Congress/Senate Promoting Bonds (and SYR) in 2014 Adding policy goals to organization policy priorities

©2013 D2DFund, Inc. Agenda 1.SaveYourRefund: Results 2.SaveYourRefund: Next Steps 3.Savings Bond Policy Plan 4.Pilot 5.Wrap Up: Next Steps

©2013 D2DFund, Inc. Pilot: Creative bond distribution and delivery  Objective o Pilot an innovative bond distribution channel using prepaid card and mobile technology that makes bonds widely (e.g., to the underbanked) accessible year-round  What will we test o Consumer demand: Will consumers want it? o Industry interest: Will pre-paid card providers want to offer it as a pre-paid card savings option? o BPD’s interest / motivation: Will BPD be open or excited to offer retail securities on prepaid cards?

©2013 D2DFund, Inc. Pilot Timeline  Summer o Research and Design o Recruit partners Prepaid card providers; direct service organizations  Fall o Launch pilot phase o Measure outputs  Spring o Share results to date, take stock of progress

©2013 D2DFund, Inc. Agenda 1.SaveYourRefund: Results 2.SaveYourRefund: Next Steps 3.Savings Bond Policy Plan 4.Pilot 5.Wrap up: Next Steps

©2013 D2DFund, Inc. Wrap-up: Next Steps  Prep for SaveYourRefund for tax season 2014  Conduct consumer research and design pilot  Implement policy priorities per outlined plan

©2013 D2DFund, Inc. Thank you! Next SBWG call: Thursday September 26 2pm – 3pm est