FARMINGTON HILLS, Mich.–Community Choice Credit Union surprised a long-time member and Detroit native, Omarri Richardson, with a $5,000 check.
The presentation, which took place at CCCU’s member contact center in Warren, Mich., was the result of Richardson’s participation in the Save to Win program.
“To me, credit unions are more for the people,” Richardson told the Michigan CU League, which first reported the award. “That was the main reason I got with a credit union.”
Richardson originally joined a credit union in order to refinance an auto loan.
According to the league, Richardson currently works two jobs and uses Save to Win, a prize-linked savings account, to maintain healthy savings habits. He previously won a smaller $25 prize for his participation in the program, the MCUL reported.
“Save to Win is kind of like having an extra savings account,” Richardson told the league. “It just helps you save. Since you can’t touch the money for a year, I put a certain amount in every month and know that, at the end of a year, I’m going to have some kind of savings coming back.”
The MCUL noted Save to Win was designed as an alternative to lottery and gambling, which savings-poor consumers often use in lieu of contributing to their long-term savings.
Richardson told the MCUL that he plans to use one-half of the funds for one of his favorite activities. “Day trading is definitely my passion [and this] definitely helps.”
Managed by CU Solutions Group, Save to Win is offered to credit union members in multiple states, making this an even greater surprise for a local resident, the Michigan league said. Participants earn entries into monthly and quarterly drawings for every $25 they contribute to their savings, the Michigan league noted.