- About Us
- Governmental Affairs
- Professional Development
- News & Information
- Products & Services
|The Pulse | 04-24-2018|
Volume 7, Issue 16
WINcentive® Savings Celebrates Winners Throughout Minnesota, Adds Wisconsin Resident Eligibility
Credit union participants in the WINcentive Savings program celebrated $1,000 winners at Affinity Plus Federal Credit Union, Financial One Credit Union, Fulda Area Credit Union and St. Cloud Federal Credit Union in the drawings for the first quarter of 2018. An additional 45 lucky credit union members throughout Minnesota were also rewarded with $100 each for their savings habits.
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. Credit union members in Minnesota have opened more than 6,000 WINcentive Savings accounts, saving over $4.6 million dollars through this program.
As a prize-linked savings program, WINcentive Savings in Minnesota is among a growing number of programs that have launched nation-wide as states pass prize-linked savings enabling legislation. Recently, Wisconsin passed legislation for financial institutions in the state to offer prize-linked savings. Due to the proximity of the state and membership overlap for many participating credit unions, WINcentive Savings has expanded eligibility in the program to Wisconsin residents who are members of participating credit unions.
WINcentive Savings is offered at 21 credit unions in Minnesota and Del-One Federal Credit Union in Delaware. In addition, MnCUN 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.
Minnesota Commerce Department Financial Institutions Credit Union Division Receives NASCUS Accreditation
Recently, the Minnesota Commerce Department Financial Institutions Credit Unions Division obtained accreditation from the National Association of State Credit Union Supervisors (NASCUS). NASCUS is the primary resource and voice of the state governmental agencies that charter, regulate and examine the nation’s state-chartered credit unions.
According to NASCUS, accreditation is credible evidence of an agency's capabilities. It provides recognition of the professionalism of a state agency's regulators, supervisors and staff. It may also provide the impetus and support for legislation that modifies and/or modernize state law. Accreditation benefits state-chartered credit unions as well.
The Minnesota Department of Commerce supervises and examines state-chartered credit unions to determine the safety and soundness of operations plus fair and equal treatment of members.
More information about the Minnesota Commerce Department Financial Institutions Credit Unions Division and NASCUS can be found online.
save hundreds on AXFI registration
The Analytics and Financial Innovation (AXFI) Conference is the premier educational event for credit union and community bank professionals serious about analytics and financial innovation. This annual event brings together hundreds of professionals, industry experts and leading researchers in the field of analytics and financial innovation. The conference will be held June 10 to 13 at the Radisson Blu MOA Minneapolis.
The 2018 conference agenda includes content specifically tailored for credit union professionals serious about analytics and financial innovation. Similar to years past, OnApproach will feature renowned keynote speakers and a compelling agenda that is sure to entertain and inform anyone in the credit union industry.
Attendees that register by Monday, April 30 will receive early registration pricing and save up to $500. A full conference agenda and registration is available on the AXFI website.