BBVA gets social to promote new savings account

Source: BBVA

BBVA Compass today announced the first of five winners in its Build My Savings(SM) Account contest through Facebook.

Ruthanne Scarduzio of Tampa, Fla. won with her story of saving for a special trip on her 31st anniversary to renew her wedding vows. Ms. Scarduzio will be presented with $5,000 in a ceremony on August 20 to help her realize her goal of a tropical second honeymoon. Ms. Scarduzio is the first of five $5,000 winners in the BBVA Compass Build-My Savings Account contest.

BBVA Compass launched its first contest through Facebook on June 22 to reward people for setting savings goals. Customers and non-customers are encouraged to visit the BBVA Compass' Facebook fan page and upload their savings story and savings goal. Winners are chosen on a combination of how compelling their savings story is and visitor ratings. Visitors can rate a story on a scale of one to five and participants are encouraged to invite family and friends to rate their story.

"The story of how hard it's been for my husband and I to save for our vow renewal is very near and dear to me, so I was very emotional when I received the phone call telling me I won," said Ms. Scarduzio. "I was quite surprised and I'm still very shocked."

The Scarduzio's have not decided yet where they will travel to, but know it will definitely be somewhere in the tropics. You can read Ms. Scarduzio's story on BBVA Compass' Facebook fan page.

"Holding a contest through Facebook represents what we will feel is a very important channel to communicate with consumers and link them with others who share a common goal or story," said Shelaghmichael Brown, BBVA Compass head of retail banking. "And then add the topic of savings, which is certainly timely due to today's economic environment, and we have an impactful way to engage customers while providing them a simplified savings process that helps them realize their financial goals."

The Build My Savings Account contest will run until Oct. 16 when the last of five winners will be chosen. To enter the contest consumers simply visit BBVA Compass' Facebook fan page and uploadd their savings story and share their savings goal. In addition to the contest, BBVA Compass' Facebook page hosts a savings forum where customers are encouraged to share savings tips with one another.

Build My Savings(SM) is a customizable savings account that helps customers take charge of setting and achieving their financial goals, regardless of what they may be. Customers who stick to their savings plan receive a percentage match of their transfers, up to $250 each year. To assist customers in setting their goals, BBVA Compass has a fully interactive website, www.bbvacompass.com/buildmysavings. Customers who access the website can obtain their savings profile which allows them to gauge their financial position, rank themselves among peers and build the savings account most suited to their needs. In addition, a fully interactive calculator can be accessed on the site so that customers may ascertain what their match bonus will be at the end of their savings term. Finally, customers are encouraged to share savings tips and tricks with one another through the Build My Savings Account Forum on Facebook.

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