Bank creates a new 'Energy Savings Account' in response to market conditions.

• Position: Marketing News - Brief article

Sometimes it's possible for a community bank to create a new limited-time product rapidly in response to market conditions. An example is the "Energy Savings Account" created at Jewett City Savings Bank, Jewett City, Conn. (assets: $176 million; three locations).

The product was created in response to last fall's run-up in gas prices, which financially pinched many consumers. The idea was to offer a new savings product designed to help households earn money to offset the escalating fuel prices. The guaranteed-rate savings account paid a high rate of return on balances of $3,500 or less.

To support the limited-time offer, the agency created a promotional package that...