Filene i3 group is getting a fair amount of press and success with their big idea…A Prize-based Savings account.
They partnered with Dr. Peter Tufano and his research team at Harvard Business School and Nan Morrow, Vice President of Corporate Development at Centra Credit Union in Indiana, to offer this unique product.
Essentially, the product is designed to put some “fun” into the savings process and help people save. Naturally, the ultimate goal of fostering a better savings rate in the United States is at the very heart of this idea.
While Centra Credit Union takes the prize as the first U.S. financial institution to put the Prize-based Savings idea to work, we believe many more will follow. See program details at www.insideindianabusiness.com. In addition, see the entire business plan posted in the i3 section.
Even Robert J. Shiller, Professor of Economics at Yale University and Chief Economist at MacroMarkets LLC, finds the idea worth talking about—even in Pakistan. See this link.
This really is more interesting than interest.
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I’ve started to see it mentioned around non-CU blogs, too. Exciting stuff here! Thanks for the update, Denise!
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It looks like folks are talking about this now
Thanks for the nod Trey!
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