MADISON, Wis. – In a combined effort to help consumers improve their financial security, 14 credit unions in 45 cities saw 1,409 of their members save a total of $180,797.67 in the first month of the Saver’s Sweepstakes™ program. In conjunction with today’s celebration of International Credit Union Day, Cindy T from Educators Credit Union was named the grand prize winner, winning $5,000.
The saving incentive program rewards members in Wisconsin and Minnesota for saving by automatically entering them to win cash prizes monthly, quarterly and annually.
“Making a positive impact of this kind is important to our communities across the state,” Wisconsin Credit Union League President & CEO Brett Thompson said. “The amount saved by current and new members will only build excitement and participation for future drawings.”
Cindy, a resident of Kenosha, was selected in a random drawing on Monday, Oct. 15.
“I’ve been a member of Educators Credit Union for more than 15 years,” Cindy said. “The Saver’s Sweepstakes is a great way to save money, and I plan to use my winnings by putting money back into my savings account and taking a nice vacation.”
Credit unions are the only financial institutions in Wisconsin offering prize-linked savings accounts to consumers.
The next winner will be drawn on Nov. 19.
Credit unions are cooperative financial institutions that are owned by their members and do not have stockholders. Because they are not-for-profit, they return earnings to members via more competitive rates of return on accounts, lower interest on loans, lower fees and improved services. More than 3 million Wisconsin residents belong to credit unions. Find a credit union to join by visiting www.asmarterchoice.org.
1 E. Main Street, Suite 101, Madison, WI 53703-5109
Resulting media coverage:
- WisBusiness (Oct. 18, 2018): Saver’s Sweepstakes – Helps 1,000+ improve financial security