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|The Pulse (04-19-16)|
March 19, 2016 ● Volume 5, Issue 16
New Website Design Coming Soon!
The Network website will have a new design this Spring. Reflecting our updated look, the site will provide easier navigation for our members. Nothing else will change – your log in will remain the same and the features of the site won’t change. Watch for the new look coming soon!
WINcentive™ Savings marks first quarter success
Since launching in January, over 2,300 Minnesotans have opened the prize-linked savings account WINcentive. Almost $800,000 has been saved in total; the median account balance being $130. The Statewide prize-pool has awarded $21,000 to date to 156 credit union members. Five lucky members won $1,000 prizes in the first ever quarterly drawing last week!
WINcentive™ Savings is the first prize-linked savings account to launch in Minnesota since legislators passed a new law last year allowing financial institutions to incentivize consumers to save by offering risk-free rewards. WINcentive prizes are offered on a monthly, quarterly and annual basis - up to $5,000. Account holders can qualify for up to 4 chances per month for each $25.00 increase in their balance.
News outlets all over the state are reporting on the innovative program – available only at MnCUN affiliated Minnesota Credit Unions. Recent media, including print, radio and TV coverage, is highlighted on the WINcentive Press Page.
If your credit union is considering offering WINcentive, now is the time to contact us. We anticipate our next group of credit unions will begin offering WINcentive on or around July 1. We are happy to provide you with contact information from our participating credit unions to provide you with what their experience has been so far. Our credit unions currently participating in WINcentive operate on more than nine different core processors, and we are also happy to connect you with others on the same core. For more information and to initiate signing on, please contact Kris Jacobsen.