WGF Matched Savings Accounts

The most essential skill to your financial success is the ability to save; without that nothing else matters. The purpose of our savings program is to teach you regular, consistent saving and the habit of making payments.

***Download the WesGold Fellows Withdrawal Form here***

  • Program Specifics
    • Each WGF graduate is given their own individual “deposit-only” bank account where all savings are matched dollar for dollar.*
    • The accounts will remain active until your sophomore year of college, as long as you keep a positive balance and regularly make deposits, no matter how small.
    • Each intern is required to save at least 10% of their salary.
    • You must make regular, consistent deposits in order to be match eligible
      • You cannot make large lump sum payments into the account.
    • Starting once you’ve reached $500, WPFSI will match that savings up to $2000.
      • The matched savings must be used for your future; college, a business, homeownership, etc.
      • In rare instances and only with approval the funds may be used differently.
  • Account Specifics
    • Each WGF intern will be given an account information packet along with deposit card for their individual accounts.
      • If you do not have a card, please contact Ms. Cora about receiving one.
    • WPFSI serves as custodian for all accounts
      • No withdrawals are made from the account without WPFSI approval
    • You may make deposits at any Wells Fargo branch.
    • Accounts are held at Wells Fargo
      • Opened at ParkWest Town Center Branch
        • 1575 N 52nd St #500, Philadelphia, PA 19131
      • Routing Number: 031000503
      • Account Number: (You will receive in your Wells Fargo packet)
  • Withdrawal Specifics
    • Once, you’ve met your savings goal and are ready to make a purchase, contact WPFSI with your completed Withdrawal Form (attached).
    • Provide documentation that details what specifically you’re buying.
    • Send the completed form to Ms. Cora: cora@wpfsi.com
      • She will then check a cut for that amount or make the purchase for you.
    • For example:
      • You save $2000 into your account and want to pay your upcoming college tuition, which is $4000. Send Ms. Cora, the completed Withdrawal Form along with your tuition bill and she will cut a check to the school for $4000. Along with the $2000 you’ve saved, WPFSI has matched that amount so you can advance your future.
      • Or, you find a car that you want to buy for only $3000. You have been making regular savings and reached a total of $2000. You send Ms. Cora the completed Withdrawal Form along with the bill for the car and she’ll cut a check for $3000. Along with $1500 off the money you’ve saved, WPFSI has matched that amount. And you still have $500 of eligible match left.

 

***Download the WesGold Fellows Withdrawal Form here***

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