Academic journal article ABA Banking Journal

Getting Edgy, FNBO Direct Launches YouTube Contest to Plug Savings to "Reality TV Generation"

Academic journal article ABA Banking Journal

Getting Edgy, FNBO Direct Launches YouTube Contest to Plug Savings to "Reality TV Generation"

Article excerpt

A campaign to popularize savings has gone from quiet pilot to big time ballyhoo beginning May 6, courtesy of YouTube. Asking participants to submit a one-minute self-produced video describing the person's savings agenda, Pay Yourself First, (www.pyfchallenge.com), will chose five semi-finalists who hope to share "a savings journeys with viewers" over several months.

The campaign was the idea of FNBODirect, the online bank, which has been in business since 2006 as a part of $21 billion asset First National Bank of Omaha. The contest fits for a bank built for bending marketing rules, according to Robin Nakamura, senior vice-president of eBusiness.

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Given the notoriety of YouTube, FNBODirect hopes to propel its next phase of growth by promoting the basics of fiscal responsibility in a way in keeping with our reality-tv times, Nakamura relates. "Our president, Rajive Johri, first came up with in the idea of a savings challenge last year," she says.

Overall, the savings campaign asks that existing--and new--customers of the bank flip the usual approach to savings, spending first and then putting anything left into savings. The campaign suggests putting all money into a savings account at payday and subtracting necessary expenses--emphasis on the word necessary. …

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