Hiway Federal Credit Union offers a new, fun and unique saving opportunity for consumers
Thursday, January 21, 2016
Hiway Federal Credit Union – (January 21, 2016) – WINcentive™ Savings is a new prize-linked savings account now available at Hiway Federal Credit Union (Hiway). WINcentive Savings offers prize drawing entries in return for each time accountholders increase their savings balance by $25 (up to 4 entries per month). Prize drawings occur monthly, quarterly and annually — up to the annual grand prize of $5,000!
The WINcentive Savings account at Hiway is designed to help consumers improve money habits in a whole new way that actually makes saving FUN. Members feel rewarded by watching their savings grow, and experience the excitement of the prize drawings. And unlike playing the lottery, nothing is lost with WINcentive Savings. All of the money deposited into the account, plus dividends, is the member’s.
Americans still lack savings despite improvements in the economy. According to a survey done by bankrate.com in June, 2015, nearly 78% of people do not have savings enough to cover six months’ worth of living expenses in the event of a job loss, while more than 29% have no savings at all.
Since 2009, credit unions in the U.S. offering prize-linked savings accounts have helped over 50,000 members save 94 million dollars. In 2015, Gov. Mark Dayton signed a Minnesota Credit Union Network-sponsored bill that allows credit unions here to offer prize-linked savings (PLS) accounts.
“We are excited to join other credit unions nationwide in offering this unique savings program,” said Dave Boden, Hiway President/CEO. “At Hiway, we consider financial well-being, or “fitness”, an important goal that everyone should strive for and have made a commitment to offering products, services and financial advice to our members and the community to help them save and improve their financial lives.”
For more information about how to participate in WINcentive Savings at Hiway, visit hiway.org.
Federally insured by NCUA
ABOUT HIWAY FEDERAL CREDIT UNION
Hiway Federal Credit Union was founded in 1931 to serve the employees of the Minnesota Highway Department. Today, Hiway serves over 63,000 members in Minnesota and around the country, registers $1 billion in assets and welcomes new membership from individuals and small businesses. Hiway offers its members unparalleled member service and a lifetime of savings through lower loan rates, higher savings rates and fewer and lower fees.