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| Christopher S. Jay President, PiggyBanc, Inc. 800-440-4105 csjay@piggybanc.com |
Saving Gets Social with Virtual PiggyBanc Network Designed for Children
Amherst, NH —(August 20, 2010)— As families continue to focus on building savings in a rough economy, a child-friendly website is introducing the next generation to an entirely new way to save. PiggyBanc.com has combined the best of social media with Paypal type technology to create a virtual savings portal, securely linked to the child’s federally insured deposit account at one of thousands of participating credit unions nationwide.
"A lot of focus has been placed on financial education in recent years, but little has been done to develop actual tools to help kids save. The PiggyBanc model turns good advice into action - engaging children and families in the saving process and encouraging kids to set goals," says Christopher Jay, Founder & President of PiggyBanc Corporation.
Grandparents, other relatives, and close friends can join a child’s PiggyBanc network and use the online system to send birthday gifts, contribute toward college savings goals, or recognize other important events. Teenagers can accept credit card payments for babysitting and other odd jobs through the PiggyBanc network as well.
"Just like online bill pay has allowed many Americans to save time and money, PiggyBanc is poised to transform old-fashioned cards and checks into digital gifts that cost less to send and arrive faster," continued Jay.
The tool was designed specifically for children and families with customizable profile pictures, a message of the day feature, a "Thank You Reminder System", and automatic email notifications whenever a contribution is made. The website encourages children to check back often and watch their savings grow – allowing them to see the value of compound interest firsthand.
About PiggyBanc, Inc.
PiggyBanc® was created to provide young children and families with a safe, efficient, and easy-to-use vehicle to begin a lifetime of good savings habits. PiggyBanc facilitates savings by acting as a conduit for a child’s entire savings network, encouraging family and friends to actively participate in the child’s lifetime savings goals. Learn more at www.piggybanc.com.
