SoFi Announces Multi-Year Partnership with Los Angeles Chargers Quarterback Justin Herbert

Rhea-AI Summary

SoFi (NASDAQ: SOFI) announced a three-year partnership with Los Angeles Chargers quarterback Justin Herbert, who becomes a brand ambassador and equity stakeholder. The collaboration will enhance SoFi's 'Break Up With Bad Banking' campaign, expanding outreach to help fans achieve financial independence. In addition, SoFi Checking & Savings offers up to 2.00% APY cash back, significantly surpassing the national average. As inflation rises, this financial initiative aims to support members in managing their finances more effectively.

Positive

• Partnership with Justin Herbert could enhance brand visibility and engagement.
• SoFi Checking & Savings offers competitive APY of up to 2.00%, appealing to potential customers.

Negative

• None.

Herbert, on joint mission with SoFi to help fans get their money right, breaks up with bad banking and moves on with SoFi

SAN FRANCISCO--(BUSINESS WIRE)-- SoFi (NASDAQ: SOFI), the digital personal finance company, today announced a three-year partnership with Los Angeles Chargers Quarterback Justin Herbert. Herbert will also receive equity stake and appears in SoFi’s new brand campaign and television spot, where he breaks up with bad banking and moves on with SoFi.

After a successful launch earlier this year, which saw SoFi become the top-searched brand during Super Bowl LVI, SoFi’s ‘Break Up With Bad Banking’ campaign will evolve this upcoming football season to feature Herbert, a first for the brand. Throughout the partnership, SoFi and Herbert will continue to help fans fulfill SoFi’s mission of helping people reach financial independence to realize their ambitions.

“Given our shared values and the fact that I am already a SoFi member, I’m thrilled to partner with SoFi in an official capacity to help guide myself and others to financial success,” said Herbert. “In order to set myself up for success - both on and off the field - it’s critical to build and maintain great relationships, especially when it comes to my finances. It’s great to have found a partner in SoFi and I look forward to all that’s to come.”

“For those who feel like their financial priorities and their bank play for different teams, our latest brand campaign is encouraging our members to get off the sidelines and take action toward their financial goals. We’re excited to evolve our ‘Break Up With Bad Banking’ campaign and continue to help members get out of unfulfilling banking relationships and move on with SoFi,” said Lauren Stafford Webb, Chief Marketing Officer, SoFi. “Justin Herbert is the perfect partner to bring this initiative to life because he understands the importance firsthand of taking charge of your financial future. We look forward to this partnership with Justin that will allow us to help more fans continue to get their money right for years to come.”

To complement the campaign, there will be a weekly giveaway and an epic grand prize of $50,000, along with the ultimate game day experience at SoFi Stadium. As inflation continues to reach record highs, it’s now more important than ever to have your money work for you. SoFi Checking & Savings allows fans to earn up to 2.00% APY cash back¹, more than 66 times the national average. For members without direct deposit, all balances will continue to earn 1.00% APY, 33 times² the national average.

To learn more about the sweepstakes and partnership, visit www.sofi.com/Justin.

About SoFi

SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing and protecting give our over four million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of ambitious people. SoFi is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.

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¹ SoFi Checking and Savings is offered through SoFi Bank, N.A.
² SoFi members with direct deposit can earn up to 2.00% annual percentage yield (APY) interest on all account balances in their Checking and Savings accounts (including Vaults). Members without direct deposit will earn 1.00% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. Rate of 2.00% APY is current as of 08/12/22. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet

View source version on businesswire.com: https://www.businesswire.com/news/home/20220907005503/en/

Sophia Yannopoulos

pr@sofi.org

Source: SoFi Technologies

FAQ

What is the partnership between Justin Herbert and SoFi?

SoFi has partnered with Justin Herbert for three years, making him a brand ambassador and equity stakeholder.

How does SoFi's Checking & Savings account compare to competitors?

SoFi offers up to 2.00% APY cash back, significantly higher than the national average.

What is the goal of the 'Break Up With Bad Banking' campaign?

The campaign aims to help fans take action toward their financial goals and move away from unfulfilling banking relationships.

When did SoFi launch the 'Break Up With Bad Banking' campaign?

The 'Break Up With Bad Banking' campaign was launched earlier this year and is evolving with the partnership with Herbert.