Shoppers given head start on college savings
Shoppers in the US are getting a head start on college funds - from a loyalty programme. Retail grocery chain, Kroger, has teamed up with Upromise to offer money for college savings with purchases of branded goods from participating manufacturers.
Thirteen well known consumer packaged goods manufacturers will be contributing 3-5% of product purchase prices to Upromise member accounts. Those participating include Coca-Cola, Garelick Farms, The Glad Products Company, Gorton's, Keebler, Kellogg, Kimberly-Clark, McNeil, Minute Maid, Nestle Ice Cream Company, Procter & Gamble, Snyder's of Hanover and Welch's. "We're delighted to offer our loyal customers an opportunity to save for a child's college education every time they purchase one of these brands in our stores," said Don McGeorge, Kroger's executive vice president.
How it works To participate in Kroger's Upromise grocery service, members register their shopper's card by visiting either of the Kroger or Upromise web sites. Enrolling is free and takes very little time (a matter of minutes, according to Upromise). Shoppers then earn between 3% and 5% of the value of qualifying purchases toward college savings when they use that card to purchase items. For the consumer's convenience, the programme does not rely upon coupons or receipts, and the Upromise contributions are in addition to other store offers and manufacturers' coupons. Families can track their contributions through purchase summaries available online in their web-based Upromise account.
"We're thrilled to have Kroger join our network of leading companies," said George Bell, the CEO at Upromise. "Our grocery service helps families make saving a part of everyday life, and Kroger is helping promote our 'Save For College' message across nearly every grocery aisle."