The Puerto Rico Bankers Association and the New York Federal Reserve Bank announced Thursday the open call for the fifth edition of the “Puerto Rico Financial Awareness Video Contest 2013.”
The initiative aimed at encouraging the creation of financial education videos from a fun and dynamic perspective has become very popular among the island’s college student community, and has helped significantly to the educational mission of both institutions in Puerto Rico as well as in the United States, representatives from both entities said.
“The Puerto Rico Financial Awareness Video Contest gives our students the opportunity to express their talent and creativity while helping us to communicate their peers the importance of managing their personal finances responsibly through a language and style typical of their generation, which makes the message more attractive and easy to remember for youngsters”, said Arturo Carrión, executive vice president of the Puerto Rico Bankers Association.
The executive added that they expect a good participation from students in the contest’s fifth edition, since it has gained great popularity among college students during the last couple of years. In 2012, a total of 49 students from 10 universities submitted 10 videos aimed at promoting financial education and responsibility among island youth.
“The contest is a very important initiative for us since it gives us the opportunity to have unique educational materials for college students created by college students, communicating a subject that most youngsters find hard to grasp, from their own perspective, which makes them a very valuable resource for our educational mission”, said Javier Silva, community affairs official for the New York Federal Reserve Bank.
The executive added that as in previous years, all videos submitted for the contest will be available in the NYFRB’s website community education section.
To participate, competitors must be a registered college student between the ages of 17 and 33. Participants must create a 30 seconds educational video about one of more of the following subjects: credit management, bank accounts, credit products, identity theft, and savings. Videos may include resources such as: music, acting, comedy, animation, documentary material and news, among others.
Students’ videos must be submitted on or prior to Nov. 6, 2013. Videos must be delivered in a Windows media Player compatible format. Participating groups can have a maximum of three members, and a university counselor.
First-place winners will receive a $700 cash prize and tickets for a five-day and four-nights round-trip to New York City. Second-place winners will receive a $700 scholarship each and winners of the third-place a $500 scholarship each. Organizers will also be presenting for a second year in a row the “People’s Choice Award” to the public’s favorite video. The winners of this category will enjoy a special dinner with the contest’s organizers. The awards ceremony will take place on Dec. 6, at the Alejandro Tapia y Rivera Theatre in Old San Juan.
The submitted videos will be evaluated by a jury, who will determine if the pieces comply with the established criteria, such as pertinent content, presentation of statistics accordingly, adequate definition of financial terms, connection with the target, and how much it encourages young people to be financially responsible. Relevance to the target public and creativity will also be important elements to be considered by the jury.
Some of the universities that participated in the 2012 edition of the contest include: Sacred Heart University; University of Puerto Rico, Río Piedras, Mayagüez and Carolina campuses; Turabo University; Universidad del Este; Pontifical Catholic University, Ponce Campus; American University of Puerto Rico; and the Bayamón, Arecibo and Aguadilla campuses of the Inter American University of Puerto Rico.
Students interested in participating in this year’s contest can obtain further details about participation rules and video requirements by calling the PRBA’s offices at 787-753-8630 or at the “Actividades” section in the organization’s website: www.abpr.com.