LANCASTER, Texas—Neighborhood Credit Union member Marilyn Calahan, received an in-person visit at her home by credit union representatives who brought her a big surprise: $25,000.
Calahan's name was drawn on New Year's Day from the ranks of members who have a Prize Savings Account, a special account created to encourage more people to save money. Neighborhood Credit Union rewards good saving habits with prize drawings throughout the year, culminating with the $25,000 Grand Prize at the beginning of each new year. The funds were deposited directly into Calahan's Prize Savings Account. A video of the presentation can be found here.
Neighborhood Credit Union Senior Vice President Carolyn Jordan described the 47-year-old Calahan as "a model for how consistent, disciplined savings habits can lead to a financially fit lifestyle."
Under Neighborhood Credit Union’s program, members receive one drawing entry for every $25 monthly average balance in their Prize Savings Accounts. The greater the savings, the greater the chance a member has of winning. Members are eligible for monthly $1,000 drawings and quarterly $10,000 drawings. At the conclusion of each year, a grand prize winner is drawn for the $25,000 jackpot based on the average monthly balance in the savings account at the close of business Dec. 31.
A video of the winning member can be found here.