FORT WORTH, Texas–Neighborhood Credit Union continues a marketing program here that makes many people happy they opened their front door.
The latest to win a $10,000 prize is David Tran, 31, who opened his door to find representatives of NCU on his front porch with an oversized check for ten grand as part of its Prize Savings Account program.
“I have won $5 in the past, so I knew it was possible to get a prize from Neighborhood Credit Union,” said Tran. “Of course, I never imagined winning $10,000.”
Tran became a member of Dallas-based Neighborhood CU at the end of 2011. The credit union said he has been a diligent saver, automatically transferring a portion of every paycheck into his Prize Savings Account. “It’s always good to have money put away, because you never know when something might happen,” Tran explained. “In my case, I am saving up to buy my first house. This $10,000 prize is certainly going to help me get there faster.”
Neighborhood CU drew David Tran’s name from the ranks of its Prize Savings Account holders. The credit union established the Prize Savings Account in 2008 to encourage people to save more money at a time when the personal savings rate had dropped to one of the lowest levels in U.S. history—especially among young people.
Neighborhood CU awards a variety of prizes throughout the year, including quarterly $10,000 prizes and a $25,000 grand prize at the start of each year. The more a person has saved in his or her Prize Savings Account, the more chances to win a prize.
The Prize Savings Account program works this way: Neighborhood Credit Union members receive one drawing entry for every $25 monthly average balance in their Prize Savings Accounts. The greater the savings, the greater the chance a member has of winning. Members are eligible for monthly drawings and quarterly $10,000 drawings. At the start of each year, a winner is drawn for the $25,000 grand prize based on the average monthly balance in the savings account at close of business Dec. 31.
A video of the presentation to Tran can be found here.