Intuit Inc. (NASDAQ: INTU), the leader in e-finance, today announced a strategic alliance with Sallie Mae, the nation's leading provider of education funding, in which Intuit will become the exclusive provider of personal finance software to more than seven million Sallie Mae customers. Through this agreement, Sallie Mae customers will have the opportunity to purchase discounted Quicken software on line at www.quicken2001.com/salliemae.
Quicken New User Edition (QNUE), priced at $19.95, had previously only been available as a bundled application on personal computers, making this the first opportunity for customers to purchase the software independent of a new computer. QNUE is a version of the popular Quicken Basic that does not import data from other Quicken products making it appropriate for new users. The agreement also makes available other discounted software titles from Intuit including 10% off the best-selling Quicken 2001 Deluxe and Quicken 2001 Home & Business products.
"Our research shows that the lowest percentage of personal finance software users fall in the under-35 age group1. With most Sallie Mae customers being between the ages of 20-35, this provides Intuit with a great opportunity to promote the importance of financial management at a young age," said Ann Gnuse, director of Quicken marketing. "With the help of Quicken New User Edition, Sallie Mae customers can be better equipped for all the financial decisions that await them in the 'real world' like balancing their checkbook, tracking their expenses and student loan payments, monitoring their debt and preparing for taxes."
1 Quicken Penetration Study (Feb '00 - Jul '00)
"We are pleased to provide our customers with an additional tool to help them make wise financial decisions," said Mark Overend, senior vice president of e-commerce, Sallie Mae. "This partnership with Intuit extends our commitment to offering low-cost, value-added products and services to our borrowers."
