Reagan Elkins, a student in Chickasha, Okla., has won the grand prize in this year's "Lights, Camera, Save!" video contest, which is intended to encourage teenagers to educate themselves and their friends about the value of saving money and spending it wisely.
The annual contest is part of a national campaign, Teach Children to Save, that organizes volunteer bankers to educate young people about saving. The campaign is sponsored by the American Bankers Association, a Washington, D.C.-based trade association that represents U.S. banks.
More than 120 banks and branches in 41 states hosted local levels of the competition and selected a winner to represent their bank to compete on the national level.
The entries were judged by a panel of personal finance and marketing experts.
Elkins' entry, "Saving My Clams," is a music video with dancing and lyrics like "I'm going to stash it in the bank if you hear what I say" and "he's wealthy because he saved his clams."
The video was submitted through First National Bank & Trust Co. in Chickasha. As the first-place winner, Elkins will receive a $3,000 saving fund.
The second place winner was Matt Xi. His video, "Saving for the Future," shows a pattern of saving from youth to adulthood with messages that include "start young," "open a savings account, "keep saving" and "still saving." Title cards and voice-over reinforce those messages.
Xi will receive a $1,500 savings fund. His video was submitted through Brainerd Savings and Loan Association in Brainerd, Minn.
The third place winner was Lewis Kloster. His video, "One Ice Cream Cone, Please," shows one boy who repeatedly walks past a piggy bank, putting money in his pocket to spend instead of saving, and another boy who repeatedly walks past a piggy bank, stuffing money into the slot as he amasses multiple progressively larger piggy banks. The video relies on facial expressions and quirky music to communicate its messages.
Kloster will receive a $500 savings fund. His video was submitted through U.S. Bank in Minneapolis.
The winning videos and other entries can be seen on YouTube.com.
What do you teach your children about money and banking? Did you start early in their young lives?
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