Member Wins $5,000 (But Really Doesn’t Know It)
Monday, February 5, 2018
CUToday.info (February 5, 2018) - Representatives of the Minnesota CU Network surprised a member of Fulda Area CU with a $5,000 check as the annual prize winner in its WINcentive Savings Program–even if the winner didn’t really realize what she had won.
The member, identified as Amelia P., is two years old, and won the prize thanks to her parents’ focus on teaching good savings habits, the MnCUN said.
WINcentive Savings was developed by MnCUN to encourage healthy savings habits. When credit union members deposit a set amount of funds into their prize-linked savings account they are automatically entered in monthly, quarterly, and annual cash prize drawings. Since the program began in 2016, Minnesota consumers have saved more than $4.8 million through WINcentive Savings accounts, the Minnesota Network reported.
“We love WINcentive Savings and have opened accounts for every member of the family,” said the winner’s mother. “Receiving the annual prize is an exciting way to show our three young daughters the benefits and rewards of saving a little bit each month.”
The Minnesota Network said WINcentive Savings incentivizes consumers to save by offering risk-free rewards. WINcentive prizes are awarded on a monthly, quarterly, and annual basis, with prizes ranging from $100 to $5,000. Account holders qualify for up to four chances per month for each $25 increase in their month over month savings balance.
WINcentive Savings is offered at 21 credit unions in Minnesota and Del-One Federal Credit Union in Delaware. In addition, MnCUN and TruLync administer the New York Credit Union Association prize-linked savings program, Lucky Savers and the Louisiana Credit Union League program, Lucky Lagniappe Savings.
For info: wincentivesavings.org.