Banking institutions play a vital role in making dreams come true — from helping to buy a car or home, start a business or pay for college.
“Bank On My Dream” is a new contest sponsored by the Florida Bankers Association to promote awareness on how bankers fit into the lives of Floridians. Ten Floridians will have an opportunity to win $5,000 each, provided by the FBA and its 300 member banks.
There are two requirements to qualify for the contest — a Florida nonprofit organization must nominate the “dream,” and it must be something attainable with the $5,000 cash prize.
“Bankers partner with Floridians to make their dreams come true every day,” said FBA CEO Alex Sanchez. “Sometimes, a small investment can have a big impact. This contest will demonstrate how $5,000 can make important dreams come true for 10 Floridians.”
Nonprofits can recommend Floridians they serve or know, and the organization must agree to distribute the funds for the winner to fulfill a dream — anything from buying school supplies for foster children, to building a website for a new business, or to buy a car to provide reliable transportation for a job.
Nominations can be either in narrative or in video format and submitted through BankOnMyDream.com.
After receiving all submissions, the public will have an opportunity to vote on their favorites. Following the voting period, a panel of judges will select two winners a week for five weeks.
Winners will be announced in June and July.
“Bank on My Dream” is designed to heighten awareness of the importance of Florida financial institutions, which in 2013 funded 461,771 mortgage loans totaling nearly $90 billion.
As for Florida business, banks also play a vital role in the health of the state’s economy.
In 2013, Florida banks made more than 48,000 business loans, anywhere from a few thousand dollars to in excess of $1 million: 33,261 were less than $100,000; 8,018 were between $100,000 and $250,000; 7,194 were $250,000 to $1 million.
Established in 1888, the FBA is one of Florida’s oldest trade associations, with a current membership of nearly 300 financial institutions ranging in size from small community banks, thrifts and trust companies, to medium-sized banks operating in various parts of the state, to large regional financial institutions headquartered in Florida or outside the state.