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McLean, Va. (October 26, 2010) – To spotlight how people can easily and quickly grow their savings, Capital One Bank (www.capitalone.com/bank) is encouraging area residents to jump in a giant “Savings Pool” in Union Square so they can “Swim in Their Savings.” San Franciscans who take the plunge will raise five dollars per jump for local financial literacy nonprofit Junior Achievement of Northern California and receive a five dollar gift card to boost their personal savings. Residents will have the chance to win additional prizes for both themselves and Junior Achievement by finding specially marked balls in the “Savings Pool” during a timed swim.

San Franciscans can dive, jump, cannonball or swim in the “Savings Pool” filled with plastic balls from Tuesday, October 26, through Thursday, October 28, from 11 a.m. to 3 p.m. PDT daily. Decorated Olympic swimmer, five-time gold medalist and current world record holder Aaron Peirsol will open the pool by swimming a lap using his signature backstroke.  

“At Capital One Bank, we want to shine a spotlight on the importance of saving and good money management skills, so we’re proud to partner with Junior Achievement to do this,” said Mark Elliot, Executive Vice President of Consumer Deposits for Capital One Bank. “Adopting healthy savings habits at any age is an essential foundation for reaching financial goals. What better way to save than with InterestPlus Online Savings where customers get three times more interest than the national average and can bank online at their convenience.”

     InterestPlus Online Savings (www.capitalonesavings.com) has one of the best savings rates among the top national banks, but additionally account holders who maintain an average monthly balance of $10,000 in their savings account or use a Capital One credit card at least once a month receive an extra quarterly bonus on interest earned. InterestPlus Online Savings is a no fee, FDIC-insured savings account that customers can open online. Customers can access their InterestPlus Online Savings information and receive customer service assistance both online and by telephone.

Features of InterestPlus Online Savings include:

• One of the best savings rates among the top national banks
• No fees and no minimum balance required
• Just $1 needed to open an account
• Keep a monthly average balance of $10,000 in the account or use a Capital One credit card in good standing at least once a month to qualify for an extra quarterly bonus on interest earned in the prior quarter (paid within four to eight weeks after each quarter’s end)
• Up to six withdrawals by online transfer per calendar month
• Free online transfers to and from existing, non-Capital One bank accounts
• Free online transfers to and from Capital One Savings and Money Market accounts
• FDIC insured up to $250,000 per depositor, per ownership category
• Easy online application

“We encourage everyone to take the plunge toward savings and help raise funds for financial literacy,” said Linda McCracken, President, Junior Achievement of Northern California. “It’s our shared mission to help young people learn savings habits early and help translate those lessons to adulthood. We applaud Capital One Bank’s effort to help us educate people of all ages when it comes to savings.” 

For more information about InterestPlus Online Savings, or any of the Capital One Bank products, visit www.capitalonesavings.com or capitalone.presslift.com/savingspool. Rates are subject to change.  

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A. and Capital One Bank (USA), N. A., had $119.2 billion in deposits and     $196.9 billion in total assets outstanding as of September 30, 2010. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One, N.A. has approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

Capital One Bank offers great rates on a variety of online money market accounts, savings accounts, certificates of deposit and business money market accounts nationwide. Customers enjoy convenient and secure access to their accounts and our service representatives via online, phone or mail channels. Capital One Bank’s Call Center for online banking products has been recognized by J.D. Power and Associates for providing “an outstanding customer service experience,” two years in a row under the J.D. Power and Associates Certified Call Center Program.

Capital One Bank is a registered trade name of Capital One, N.A.

About Junior Achievement of Northern California

Junior Achievement of Northern California serves 23 counties throughout Northern California. From Mendocino to Fresno; San Francisco to Stockton; and throughout the Silicon Valley and Monterey Bay; JA NorCal served over 118,000 students in the 2009-2010 school year. Through a dedicated volunteer network of nearly 5,000 individuals, JA offers in-school and after-school programs for students in grades K-12. Junior Achievement programs provide solutions to youth, education, and economic development issues. For more information, visit www.janorcal.org.