It's a little easier for little girls' dreams of the perfect Quinceanera celebration to be a reality thanks to Grow Financial Federal Credit Union.
Last summer, the $1.8 billion Tampa, Fla.-based credit union unveiled its Project Quince savings account during the annual Centro Florida Quinceanera Show.
A Quinceanera celebrates a young woman's coming of age on her 15th birthday. It is a huge celebration in many Hispanic cultures.
The account offers a higher interest rate than a basic savings account and includes a minimum monthly amount to help ensure that parents will start saving in advance for their daughter's Quinceanera party. Not limited to just parents, accounts can also be opened by grandparents, godmothers, and other family members. In addition, should a girl opt out of the celebration, the money in the account can be used for anything she wants from a cruise to a down payment for a car.
"Almost 14% of our members are Hispanic, and when we learned that many go into debt to host these events we wanted to help," said Adrienne Drew, marketing communication specialist at Grow Financial. "A lot of research went into creating this, and it can also be opened by those who want to save for their Sweet Sixteen. It was important to us that it be a unique but inclusive solution."
Working in partnership with local multicultural agency Rumbo Marketing, not only was the Project Quince account developed, but they created a competition to find a quince star to help spread the word. The contest to be the face of the Project Quince account was announced during the popular five-hour Centro Florida Quinceanera Show, which some 800 to 1,000 attendees go to find everything from the latest gowns and party planners, to venue options and cakes.
"This is our second year we've participated and been a sponsor of this event," said Drew. "The feedback has been incredibly positive. This show gives Grow Financial a great opportunity to support the Hispanic community."
To date, 90 Quince accounts have been opened and once again the credit union has hosted the "Become the Next Project Quince Star" competition for girls age 14-16 years old. Five semi-finalists will be selected by Aug. 31. The winner, to be chosen in October, will have a photo shoot with makeup artist and stylist, appear in marketing materials attend Grow Financial community events and have $1,000 deposited into her Project Quince account.
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