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Truliant FCU pays students to create new products
WINSTON-SALEM, N.C. (5/20/09)--Truliant FCU, Winston-Salem, N.C., partnered with Forsyth Technical Community College asking students to create credit union-oriented products and services for a cash prize. The innovation contest sought to generate ideas from students on products and services relevant to the financial industry and that would benefit Truliant members, the credit union said. Truliant offered $3,000 to the first-place winner and $1,500 to the second. Students submitted applications to participate in the first annual Truliant Financial Fair, where they presented their ideas for products and services to a panel of judges. Kayla Hall won first place, and Linda Burnette received second place. Hall’s idea was to create a book buy-back program that would allow students to get a loan to pay for tuition and school books. At the end of each semester, when students sell their books back, the proceeds would directly pay off their loan with Truliant. Truliant has $1.1 billion in assets.
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