Nation’s Saving, Planning, and Paying for College Company Joins
with Leader in Goal-Based Savings Accounts to Offer Families Competitive
Interest Rates and Enhanced Benefits
NEWARK, Del.–(BUSINESS WIRE)–Sallie Mae, the nation’s saving, planning, and paying for college
company, and Q2
Holdings, Inc. (NYSE: QTWO) today announced a new partnership to
a leading goal-based, online, high yield savings account, to help
consumers reach their financial savings goals. The partnership brings
competitive interest rates of up to 1.05
percent APY for new and current SmartyPig customers and enhanced
features, including a streamlined log-in process, a new and improved
website, and discounts when redeeming savings for eCodes
to shop at Amazon.com.
“We designed Q2’s powerful CorePro software platform to help financial
institutions deliver innovative offerings to account holders faster and
easier than ever,” said Will Furrer, chief strategy officer, Q2.
“SmartyPig is a great example with CorePro playing a key role that will
allow Sallie Mae to help families plan and save for critical financial
Created in 2008, SmartyPig is a free, FDIC-insured savings account that
helps individuals save for any financial goal. Customers can set up a
free SmartyPig account in minutes; then it’s as simple as creating one
or more goals, saving toward them using automatic monthly or biweekly
contributions or individual deposits, and then tracking progress.
Customers may add or withdraw funds at any
time. In addition, those who redeem their SmartyPig savings for eCodes
to shop at Amazon.com will receive a discount. To date, Americans have
saved more than $5 billion through SmartyPig.
“Sometimes the hardest part about saving money is getting started.
SmartyPig and its unique social sharing platform is an innovative way to
do just that,” said Charlie Rocha, executive vice president and chief
marketing officer, Sallie Mae. “I am proud that, through this new
product offering, more families will be able to create a savings plan to
meet their financial goals.”
With the addition of SmartyPig, Sallie Mae further expands its suite of
products and services designed to help families save for college and
other life events. Upromise
by Sallie Mae rewards families with cash back for college through
everyday purchases. Collectively, Upromise members have earned more than
$900 million in cash-back rewards for college.
Sallie Mae Bank, recently recognized as a “Best Bank of 2016” by
GoBankingRates.com., also offers a money
market deposit account with a current
0.90 percent APY, which is 11 times the Bankrate.com national
average rate. The account requires no minimum balance, minimum deposit,
or monthly maintenance fee.
Sallie Mae Bank is a subsidiary of SLM Corporation (Nasdaq: SLM),
commonly known as Sallie Mae. All Sallie Mae Bank savings products,
including SmartyPig, are FDIC-insured. For more information, visit SmartyPig.com
Sallie Mae (Nasdaq: SLM) is the nation’s saving, planning, and
paying for college company. Whether college is a long way off or just
around the corner, Sallie Mae offers products that promote responsible
personal finance, including private education loans, Upromise rewards,
scholarship search, college financial planning tools, and online retail
banking. Learn more at SallieMae.com.
Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are
not sponsored by or agencies of the United States of America.
Rick Castellano, 302-451-2541