News & Press: WINcentive Savings News

Fulda Area Credit Union offers a new, fun and unique saving opportunity for members!

Sunday, January 31, 2016  
Share |

 

Fulda Area Free Press © January 13, 2016 – WINcentive™ Savings is a new prize-linked savings account now available at Fulda Area Credit Union. 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 grand prize of $5,000!

The WINcentive Savings account at Fulda Area Credit Union 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 interest, 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. Additionally, 36% of Americans have not saved a penny towards their retirement. These percentages have increased since 2013, despite improvements in employment and wages.

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. And now WINcentive Savings is available for those who live in Minnesota, especially to those in our field of membership which is Nobles, Murray, Cottonwood, or Jackson County.

“We’re very excited to provide WINcentive Savings to our loyal members. This new product is rewarding in so many ways, and further expresses the benefits of being a credit union member. Offering members the opportunity to win cash prizes while increasing their savings balance is something we’ve been looking into for a while, and the Minnesota Credit Union Network helped this product become a reality. If saving money has been a challenge for you in the past, our prize-linked savings account may be an accommodating product to help you succeed!”

For more information about how to participate in WINcentive Savings at Fulda Area Credit Union, stop in one of our branches in Fulda, Worthington, Windom, or Jackson. Also, visit our website at www.fuldaareacreditunion.com or “Like Us” on Facebook for the most current updates!

Since 1986, Fulda Area Credit Union has been serving over 7,000 members in Nobles, Murray, Cottonwood, and Jackson County. For more information visit www.fuldaareacreditunion.com


Minnesota Credit Union Network
555 Wabasha Street N, Suite 200
St. Paul, MN 55102

(651) 288-5170
(800) 477-1034