LIVONIA, Mich., Jan. 12, 2015 /PRNewswire/ -- CU Solutions Group's prize-linked savings program Save to Win is reinventing the way people traditionally think about saving money and will soon be taking this innovative concept from state-centered to a national platform.
Credit unions in Michigan, Nebraska and Connecticut are joining forces to promote the first ever large scale multi-state prize linked savings program to their members. North Carolina, New York and Washington are looking to join the multi-state program in 2016 and 2017. Save to Win has received a lot of national attention recently, click here to read full articles.
How Save to Win works: Members open a 12-month share certificate and for each deposit of $25 or more, they earn an entry into the monthly prize drawings; up to 10 entries per month. At the end of the month, prizes totaling $3,750 will be awarded to 150 members who made savings deposits during the month. The members' entries will also be entered into quarterly drawings for chances to win prizes ranging from $500 to $5,000.
Save to Win motivates members to save money by offering chances to win prizes. Even better, members are guaranteed to have more money saved than when they started since they keep all their saved dollars, plus interest. Since the program began in 2009, it has helped over 50,000 credit union members save more than $94 million.
"Save to Win is the perfect example of credit unions doing what they do best – helping members improve their financial lives. The program helps them learn critical life skills and grow their personal wealth while having fun all at the same time," says CU Solutions Group CEO David Adams.
While many Americans are borrowing more money than they are saving, Save to Win gives credit union members a valuable opportunity for improving their financial situations. Save to Win was first offered in Michigan and has continued to grow and flourish in other states including Nebraska, North Carolina, Washington and, most recently, Connecticut.
For a list of all participating credit unions, official rules and prizes visit www.savetowin.org.
CU Solutions Group serves the credit union industry by offering essential solutions in five key areas: marketing, technology, membership enhancements, performance management and lending & operations. Its Michigan Solutions division complements these areas with a focus on serving Michigan credit unions. CU Solutions Group was formed out of the combination of CU Village and HRN Management Group, and is owned by hundreds of investors made up of leagues, credit unions and credit union system organizations. Learn more at www.cusolutionsgroup.com, www.facebook.com/CUSolGroup or www.twitter.com/CUSolGroup.
SOURCE CU Solutions Group