WASHINGTON, May 15, 2012 (GLOBE NEWSWIRE) -- The Consumer Bankers Association (CBA) Foundation, sponsoring CBA member banks from across the country and Ashoka's Youth Venture have launched the inaugural "Banking on Youth" competition. Together we are "Finding and Funding Young Changemakers" across the Nation.
Banking on Youth invites young people between the ages of 13 and 20 to submit a creative 90-second video and brief entry form to share their idea for an entrepreneurial venture that will directly benefit society. Submitted videos meeting the eligibility requirements will be uploaded to www.bankingonyouth.org to compete to win one of 54 $1,000 seed money prizes provided by our sponsoring banks. Sponsoring banks include Union Bank (10 prizes), U.S. Bank (6 prizes), Bank of America (5 prizes), Citigroup, Inc. (5 prizes), Wells Fargo (5 prizes), IBERIABANK (4 prizes), M&T Bank (4 prizes), PNC (4 prizes), First Niagara Bank (3 prizes), BB&T (2 prizes), Citizens Financial (2 prizes), Citizens Republic (2 prizes) and SunTrust Bank (2 prizes).
The top six entrants, chosen by the CBA Foundation and Ashoka's Youth Venture, will receive an all-expenses-paid trip to Washington, D.C. to compete in a "pitch-off" at the annual Youth Venture Summit in Washington, D.C. "Pitch-off" prizes include the Audience Choice Award of $5,000 and the Grand Prize of $15,000!
The application deadline is June 10, 2012. Regional winners of the $1,000 seed money prizes as well as the six national finalists will be announced June 28, 2012.
"We are thrilled to be launching this fun and meaningful opportunity for the young people of America," said Richard Hunt, President of the Consumer Bankers Association. "Banking on Youth gives banks an opportunity to do what they do best—equip others to accomplish their dreams and improve their communities. We believe young entrepreneurs have the power to make a positive impact if we will work with them to foster their talents and develop strong relationships with them in their youth."
"Banking on Youth demonstrates how much of a difference local banks can make by seeding the ingenuity and initiative of young people," said Bill Drayton, Founder and CEO of Ashoka. "Each venture launched by young changemakers will touch the lives of at least 100 people, while preparing the young leaders for a lifelong path of success in school, work and life."
Competition information, including how to apply, can be found at www.bankingonyouth.org or contact Megan Murff, Vice President of the CBA Foundation at mmurff@cbanet.org.
About CBA
The Consumer Bankers Association (CBA) is the trade association for today's leaders in retail banking - banking services geared toward consumers and small businesses. The nation's largest financial institutions, as well as many regional banks, are CBA corporate members, collectively holding two-thirds of the industry's total assets. CBA's mission is to preserve and promote the retail banking industry as it strives to fulfill the financial needs of the American consumer.
For more information, please contact Marybeth Leongini 202-552-6370 or mleongini@cbanet.org or visit www.cbanet.org.
About Ashoka
Ashoka is the global association of the world's leading social entrepreneurs and the pioneer of the social entrepreneurship movement. Ashoka has a 30-year history of finding and launching the top innovations that address the world's needs. We believe that the greatest contribution we can make to the world is to increase dramatically the number of changemakers today and in every future generation. This is the key factor for success in every part of society, from a school to a company to an entire country. Ashoka operates in 65 countries and online at www.ashoka.org.
About Ashoka's Youth Venture
Youth Venture is an international network of 100,000 changemakers. We inspire and support young people to be changemakers by launching and leading their own civic-minded organizations and businesses, and we help communities around the world realize their potential as communities of changemakers. YV operates in 19 countries and online at www.GenV.net.
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