WINcentive a big hit
Thursday, January 21, 2016
KIMT © January 21, 2016 – A measure passed by lawmakers last session in St. Paul is a big hit now that it’s rolled out.
The WINcentive program allows 14 credit unions and their members in the state to open savings accounts and the program could put money in the account for them. For each $25 deposit, the member is entered in a state drawing for cash prizes like $100, $1,000, and at the end of the year $5,000. Credit union leaders say so far, they’ve had a lot of interest.
“We have 13,000 members and within hours of launching the product we had 18 inquiries in the first two hours alone and we’ve opened up 81 accounts, so we are very enthusiastic and so are our members,” CEO and President of First Alliance Credit Union in Rochester, Kelly McDonough says.
For more information on the program, click here.