Terry Johnson of Montesano is the latest TwinStar Credit Union member awarded for participation in the prize-linked savings program, Save to Win. For every $25 deposited into their accounts, members earn one entry into the monthly and quarterly drawings for a chance to win $25-$1,000.
Terry Johnson has been a member of TwinStar Credit Union for 23 years and participating in the Save to Win program for the last 3 years. She is considering the possibility of taking her husband on a cruise with her grand prize winnings.
“This program is so cool. I started with auto-depositing $100 and the money adds up pretty darn fast. You just get used to saving.” Now Johnson maxes out her entries every month.
The savings tool was designed to appeal to credit union members who are not in the habit of saving. In addition to encouraging members to set aside money, Save to Win also provides financial education tools and resources to help members achieve strong financial futures.
Amanda Stevens, Community Development Manager, said “Save to Win is a great solution for members who need an additional incentive to put money back. The more you save, the more chances you have to win. A chance at a reward makes it even more fun!”
Save to Win was developed by Commonwealth, the Filene Research Institute and the Michigan Credit Union League (MCUL). The MCUL launched the pilot program in partnership with eight Michigan credit unions in 2009 and has since expanded to include several states. The program is now administered by CU Solutions Group, an affiliate of MCUL.
To date, the program has awarded more than $2.4 million dollars in cash prizes and has helped credit union members save nearly $140 million nationwide. To learn more about Save to Win visit www.savetowin.org.