Wisconsin Credit Union League Partners with Minnesota Credit Union Network, TruLync to Offer...
Tuesday, May 8, 2018
ST. PAUL, Minn. (May 8, 2018) - The Wisconsin Credit Union League is partnering with the Minnesota Credit Union Network (MnCUN) and TruLync to offer prize-linked savings accounts.
Prize-linked savings accounts encourage healthy savings habits by offering risk-free rewards. 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.
"By collaborating on a statewide scale, Wisconsin credit unions will be able to offer a high-profile, high-dollar program rivaling that of well-established, ultra-visible statewide lotteries," said The League Services Corp's Tara Krejcarek.
The Wisconsin Credit Union League program will be branded Saver’s Sweepstakes. MnCUN and its wholly-owned subsidiary, TruLync, will provide technology management for the Wisconsin Credit Union League including prize drawing administration, reporting, and technical support for Wisconsin’s participating credit unions.
"Our unity will increase the program's credibility, attract far more consumers than smaller, local prize programs and create synergy that will boost perception and interest, ensuring the buy-in required to sustain and grow prize-linked savings as a long-term opportunity for the greater credit union Movement. We are always stronger together," she emphasized.
The first Saver’s Sweepstakes drawing will be held on International Credit Union Day, October 18, 2018.
The Minnesota Credit Union Network and TruLync, have offer the branded WINcentive prize-linked savings program through 21 credit unions in Minnesota and Del-One Federal Credit Union in Delaware. In addition, the Minnesota Credit Union Network and TruLync have partnered with the New York Credit Union Association to administer the prize-linked savings program Lucky Savers and with the Louisiana Credit Union League to create the Lucky Lagniappe Savings program.
The Minnesota Credit Union Network is the statewide trade association that works to ensure the success, growth and vitality of Minnesota credit unions. With nearly $20 billion in assets, Minnesota credit unions are local, trusted financial cooperatives that serve more than 1.7 million members at almost 400 branch locations around the state. As not-for-profit institutions, credit unions give back to the communities they serve. For more information, visit mncun.org.
TruLync™, a wholly owned subsidiary of the Minnesota Credit Union Network, offers credit unions and other financial institutions nationwide a complete suite of cost-effective technology solutions which improve operational efficiency, increase financial performance, reduce risk, and enrich member relationships. An outsource provider in the field of business analytics, TruLync applies the cooperative model to deliver OnApproach M360: allowing more credit unions to participate by minimizing the cost of increasing staff and building and maintaining an infrastructure in-house. For more information, visit trulync.com.
The Wisconsin Credit Union League is the dues-supported trade association for Wisconsin's credit unions – not-for-profit financial institutions that are cooperatively owned by their more than 3 million members. With offices in Madison and Pewaukee, The League is dedicated to serving Wisconsin's credit unions and promoting the credit union difference through advocacy, education and public service. The League also assists consumers, the media, legislators and others who want more