Californians' Savings Growing Two-Times US Average

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(Sacramento, CA)
Friday, October 29, 2004
Insured deposits in the Sacramento region have reached $25 billion, up 13% from a year ago, according to the FDIC’s new report. That’s twice the rate of growth nationally. Regional population growth is one reason. One example is Rocklin. New homes are going up quickly, people are moving in, and deposits there are up 30%. Experts say people are also stashing money in savings accounts because their anxious about world affairs and the economy. A trivia fact: the four counties that comprise the Sacramento area now have more insured deposits than the state of Hawaii.