INDIANAPOLIS – Twenty-nine credit union members from six different Indiana credit unions began 2017 with some unexpected cash in their pockets, thanks to participating in this state’s “Save to Win” program.
Each of the 29 people won between $25-$1,000 in December for their participation in their credit union’s Save to Win prize-linked savings program, according to the Indiana league. For every $25 deposited into their Save to Win account, they earned one entry into monthly and quarterly prize drawings. December savers’ names were drawn in January.
Overall, those 29 Hoosiers are among 20,140 account holders at 92 credit unions in 10 states who saved more than $55 million in 2016, the league reported.
The Save to Win program was introduced in Indiana in April of 2016, and currently includes 17 credit union participants across the state. Hoosier credit union members have saved $6.7 million since the program’s launch.
“We continue to add credit unions to the program which makes even more members eligible to win,” said Indiana Credit Union League President John McKenzie in a statement. “Regardless of the prize drawing outcome, savers at all participating credit unions have the opportunity to practice good savings habits.”
Credit unions with winners included Crane CU, Financial Builders FCU, Financial Center First CU, Evansville Teachers FCU, Members Source CU and Sterling FCU.
Participating credit unions are listed below. Members who start a Save to Win account or deposit at least $25 into an existing account at any participating credit union by Feb. 28 are eligible for the next monthly drawing, which will take place in March.