It's been a long time since Americans saved their pennies. Since the start of 2005, Americans saved just 0.5 percent of what they earned, according to the Economist Intelligence Unit. But that is changing. Savings picked up in 2008 as the financial crisis deepened and a new sense of thrift altered the consumer mindset.
Atlanta-based SunTrust Bank, which is headquartered in one of the states hit hardest by the recession, is witnessing this savings phenomenon and is reacting with a new campaign to attract deposits. Through October, Georgia's unemployment rate was at seven percent, above the national average. The bank's chief marketing officer Rilla Delorier says that as a result of the economic tumult, the $170 billion-asset bank has seen an increased interest among customers to be more careful with their spending.