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 offer SmartyPig, 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 goals.”
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 or SallieMae.com/banking.
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.
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