NEW YORK—The Federal Reserve Bank of New York announced that a video entitled Repair Your Credit-Repair Your Life, produced by a team of students from LaGuardia Community College, won first place in the Bank’s fourth annual Financial Awareness Video Festival. More than 40 videos were submitted to the competition, which challenged local college and university students to create a 30-second video—aimed at young adults—about how to build credit.
The winning video encouraged responsible borrowing and explained the dangers of taking on too much debt. Its creators, Laguardia Community College students Estela Melendez, Christian Guinanzaca and Bryon Guinanzaca received a $2,500 team award, and their video will be aired in select movie theaters throughout New York City. Additionally, Repair Your Credit-Repair Your Life, along with two other top entries, will be posted on the New York Fed’s website and distributed to schools, nonprofit groups and financial literacy organizations.
“From student loans to credit cards, college often is the first time students are exposed to credit—both the benefits and potential problems,” said Kausar Hamdani, senior vice president of Regional and Community Outreach at the New York Fed. “This competition aims to ensure students learn early about the dos and don’ts of good credit usage.”
A celebrity judging panel, including personal finance expert Suze Orman, the Tribeca Film Institute’s Jose Rodriguez, and actor Ashley Springer, viewed and evaluated the top 15 videos in front of a live audience. The panel narrowed the field to two videos, so New York Fed President Dudley cast the deciding vote.
About the New York Fed’s Financial Awareness Video Festival
The Video Festival promotes smart credit use by young adults. Local college and university students are challenged to create a 30-second video—aimed at their peers—about how to build good credit. The New York Fed runs two concurrent competitions: one in New York State, northern New Jersey and Connecticut, and one in Puerto Rico. The Financial Awareness Video Festival is sponsored by the New York Fed's Regional and Community Outreach team.
New York Fed’s Financial Awareness Video Festival Home Page »