WINcentive® Awards Over $120,000 in Prizes, Surpasses $6 Million in Savings
Thursday, March 28, 2019
ST. PAUL, Minn. – During the first quarter of 2019, the Minnesota Credit Union Network celebrated the WINcentive Savings program success with a lucky $5,000 annual prize winner from St. Paul Federal Credit Union. Additionally, quarterly prizes of $1,000 were awarded to members of Affinity Plus Federal Credit Union, First Alliance Credit Union, Teamsters Credit Union and Two Harbors Federal Credit Union. Combining the statewide prize pool and credit union specific drawings, WINcentive Savings prize giveaways totaled over $120,000 for 2018.
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, with prizes ranging from $25 to $5,000. Credit union members in Minnesota currently have more than $6 million saved in WINcentive Savings accounts.
“I’m going to buy a desk for my computer,” said Noah, 10-year-old member of Two Harbors Federal Credit Union and winner of a $1,000 quarterly prize,” and put the rest in my savings for college.”
WINcentive Savings is offered at 23 credit unions throughout Minnesota. In addition, the Minnesota Credit Union Network and TruLync, a wholly-owned subsidiary of the association, also administer prize-linked savings programs in Delaware, Louisiana, New York, Montana, and Wisconsin.
M More information about WINcentive Savings, including a list of participating credit unions, can be found at wincentivesavings.org.
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.
Photo: Two Harbors Federal Credit Union member, Noah, celebrated winning a $1,000 quarterly WINcentive Savings prize.