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PiggyBanc waives e-check fees
AMHERST, N.H. (5/19/11)--PiggyBanc, a social networking website dedicated to saving, is waiving its e-check fees. PiggyBanc.com combines social media with payment technology to create a virtual savings portal, securely linked to the member's federally insured deposit account at participating credit unions through Financial Service Centers Cooperative. The PiggyBanc website can be individually co-branded for credit unions. Relatives and friends can join a member’s PiggyBanc network through participating credit unions and use the online system to send birthday gifts, contribute toward college savings goals, or recognize other important events. Teenagers can also accept credit card payments for babysitting and other odd jobs through the PiggyBanc network. Credit unions benefit from more engaged relationships with younger members, according to PiggyBanc, because members are encouraged to return to the credit union's website through automated contribution notices and thank you reminders. “As we continue to add new credit union partners, we’re constantly looking for ways to enhance the system,” says Christopher Jay, founder and president of PiggyBanc Corp. He noted the company is working “to roll out several other significant enhancements over the next few months.”


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