MADISON, Wis. — A new savings program from the Filene Research Institute's i3 innovation group aimed at helping members get out of debt and build wealth needs input from the credit union industry.
The Savings Revolution program relies on local media partnerships and credit union communications to monitor the progress of competing members working to achieve their savings and debt reduction goals over a year's time. Following the format of a reality extreme financial makeover show, the media airs monthly 90-second vignettes which capture the ups and downs of the families working toward changing the way they save.
An Internet-based software program is being developed to complement the media exposure, allowing consumers in the market area to design their own Savings Revolution program. The net-based component will connect consumers, not only with their local credit unions' Savings Revolution competition, but with one another to blog about their personal financial experiences.
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