EL PASO, Texas — Greater El Paso Credit Union has discovered the secret to reaching Generation Y: give them $10,000.
The credit union has created a new edition of its savings challenge targeted at college students. Members and nonmembers who are enrolled full-time at any local college or trade school are eligible to send in an audition video to be one of six contestants selected to develop a savings plan and potentially win $10,000. Each of the other non-winning contestants will receive $2,500.
There is one catch though, half of the $10,000 must go toward college expenses, 40% must go toward paying down debt and the remaining 10% can be spent any way the winner wants.
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