Announcement: Red McCombs of Clear Channel Invests in SmartyPig

Fantastic news this morning coming from SmartyPig! Red McCombs, the co-founder of Clear Channel Communications, has invested in SmartyPig, a community focused on helping its members save for specific purchases, large or small. Specific terms of the deal were not released, but the agreement is announced at a time when the national personal savings rate has reached an almost 15-year high.

McCombs was quoted as saying, “We are very pleased with our investment in SmartyPig. We believe this is a tremendous opportunity to improve people’s lives and provide financial freedom by helping people break out of the vicious cycle of credit card debt. SmartyPig is a revolutionary company that empowers consumers with true cash buying power. Instead of the ‘buy first and pay later’ mentality, SmartyPig helps people buy with cash and avoid being buried in future debt.”

This is a tremendous step for SmartyPig as it continues to expand its community to help consumers everywhere change their spending habits. Congratulations to both SmartyPig and Clear Channel Communications on this announcement!

If you have an announcement that you’d like to broadcast to the Banktastic community, email Lisa Randolph at lisa@banktastic.com for more information.