Members of Affinity Plus Federal Credit Union, Fulda Area Credit Union and Hiway Federal Credit Union were the lucky recipients of $1,000 by participating in the WINcentive program. Participating members in the WINcentive Savings program through Minnesota credit unions were eligible to win one of five $1,000 prizes and one of forty-five $100 prizes as a part of the quarterly drawings held in October.
Through September 2020, WINcentive in Minnesota has reached over 8,300 accounts open with nearly $9 million in total saved by members of credit unions throughout the state. To date, participating members have an average saved balance of $1,081.
WINcentive Savings incentivizes consumers in 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 in Minnesota qualify for up to four chances per month for each $25 increase in their month over month savings balance. The Minnesota Credit Union Network and TruLync also administer prize-linked savings programs for credit unions in Delaware, Georgia, Hawaii, Louisiana, Massachusetts, Montana, New York, New Jersey, Ohio and Wisconsin.
For details about prize-linked savings, please contact Director of Business Development, Kris Jacobsen, or Director of Engagement, Ben Hering, via email. More information about WINcentive Savings, including a list of participating credit unions, can be found at wincentivesavings.org.
Photo: Fulda Area Credit Union employees celebrate with member, Marian, a recent quarterly WINcentive Savings prize winner
The Pulse is MnCUN's newsletter that keeps credit union professionals and board members updated on current news and information.