FORT WORTH, Texas–Andrea Marshall opened her front door here to find a surprise: representatives of Neighborhood Credit Union were there to deliver a $25,000 prize as a reward for her good savings habits.
The Dallas-based credit union drew Marshall’s name on New Year’s Day from the ranks of its Prize Savings accountholders. Neighborhood Credit Union established the Prize Savings Account in 2008 to encourage people to save more money, at a time when the personal savings rate had dropped to one of the lowest levels in U.S. history. Neighborhood Credit Union awards a variety of prizes throughout the year, culminating with the $25,000 grand prize at the start of each new year. The more a person has saved in his or her Prize Savings Account, the more chances to win a prize.
“Andrea Marshall is a shining example of how a person can reap tangible rewards by building good savings habits,” said Carolyn Jordan, senior vice president at Neighborhood Credit Union. “She is a consistent saver, setting aside a little bit of each paycheck to pay herself first.”
Marshall, 47, became a member of Neighborhood Credit Union in February 1996 when she was a new employee of the post office. In the years since, she has expanded her services—and her savings—through the credit union.
“Neighborhood Credit Union has always been there for me, whether it was to start a savings account or get a personal loan, auto loan, or credit card,” said Marshall.
Marshall, who was joined on her front porch by her husband and their two-year-old grandson, said she plans to use the unexpected money to “pay myself first, of course, then pay off some student loans, maybe take a little trip, and use some to pay it forward,” noting two bereavement and women’s ministries she would like to help.
“I am also going to open a savings account for my grandson,” Marshall said with a smile. “It really pays to save.
A video of the presentation can be found here.