BASKING RIDGE, N.J.– Affinity Federal Credit Union has launched its Great Savings Challenge for 2019. Running throughout year, the campaign aims to improve its
members' financial well-being by encouraging them to set savings goals and make well-informed financial decisions, the credit union said, pointing to data showing the median savings account balance for those 35 and under is just $1,580.
According to Affinity Federal, participating members will fill out a pledge to identify their savings goals. These members are also automatically eligible for a monthly sweepstakes by:
- Making a Savings Challenge appointment with an Affinity representative (5 entries)
- Opening any new Club Account (1 entry per account)
- Setting up an automatic transfer or direct deposit into a new Club Account (1 entry per account)
One member will be selected to win $1,000 each month throughout the entry period, Jan. 28 – June 30.
"I am concerned that Americans have more debt than savings. It means that many would not be able to cover their monthly expenses, such as their car payment, mortgage, daycare or rent, if an emergency occurred," says Jacqui Kearns, chief brand officer at Affinity FCU, in a statement. "The Great Savings Challenge is designed to break that trend and the paycheck-to-paycheck lifestyle. Beyond encouraging a traditional savings account, Affinity will help our members save on costly credit card rates and fees other organizations put on their customers' backs. My team and I find it equally important to offer free financial advice and reward healthy savings practices. It only takes a few dollars a day to get started at any income and any age."