WAYNESVILLE, N.C.—Two members of Mountain Credit Union were each presented a $10,000 grand prize in the North Carolina Save to Win prize-linked savings program.
The winning members, who asked to remain anonymous, are among 2,200 participating members who saved a total of $5.4 million at nine North Carolina credit unions during 2015, the third year of the savings raffle. Mountain Credit Union members who participated saved more than $888,000 and won other total prizes of $4,150 along with two of three $10,000 grand prizes. The program seeks to support positive habits for North Carolina participants, more than half of whom had not saved regularly prior to opening their Save to Win accounts.
“More than 289 Mountain Credit Union members and all others who joined Save to Win deserve congratulations because they’re saving for their futures and making good financial decisions,” said Mountain Credit Union CEO Patty Idol. “Local credit unions like ours are committed to helping our members reach their personal financial goals. Saving builds financial stability, and Save to Win is a fun and effective way for our members to watch their money grow.”
With each $25 deposit in a Save to Win savings account, a member is entered into monthly, quarterly, and grand prize drawings. In North Carolina, 49% of participants in 2014 had not saved regularly prior to joining the program, while 53% reported household income of less than $40,000—and 17% earn less than $20,000.