SOUTHFIELD, Mich.–Save to Win, the credit union-backed program that offers prizes to members who are regular savers, is adding another $5,000 to the central pool of prize money available in 2016.
As a result, several more $500 quarterly winners will be able to be selected.
Save to Win was created by the Michigan Credit Union League and has since spread to several other states. Legislation to enable such savings programs offering prizes has also been passed in numerous states nationally.
To participate, account holders open a special 12-month share certificate with a $25 opening deposit. For every $25 deposit they make, account holders earn an entry into the monthly and quarterly drawings, up to 10 entries per month, for a chance to win prizes ranging from $25 to $5,000.
“Save to Win not only embodies the credit union mission, it is an excellent way for your credit union to increase membership and wallet share,” said the Michigan League. “Plus, credit unions with winning members have opportunities to receive press for their individual programs.”
Save to Win has helped credit union members across the country save nearly $100 million since it was created in 2009. The program has also awarded more than $1.6 million in prizes to participants nationwide. A free webinar on the Save to Win program is being held Wednesday Aug. 12, at 11 a.m. ET.