INDIANAPOLIS–Eight credit union members from four different Indiana credit unions each won either $25 or $50 in May for their participation in the new Save to Win prize-linked savings program that is now available in this state.
For every $25 deposited into their Save to Win account, they earned one entry into monthly and quarterly prize drawings. These eight Hoosiers are among 21,949 account holders at 117 credit unions in ten states who have saved $51 million since the beginning of 2016.
This is the first-ever prize drawing in the state of Indiana, where the program started in April at 12 credit unions across the state.
“We are thrilled for these prize winners,” said Indiana Credit Union League President John McKenzie. “But the best part of Save to Win is the fact that savers at all participating credit unions are adopting a good savings habit through the program. In the short time since its kickoff, Save to Win account holders in Indiana have accumulated more than $1 million in savings.”
Participating CUs include Crane CU, Evansville FCU, Evansville Teachers FCU, Financial Builders FCU, Financial Center FCU, Members Advantage CU, Members Choice FCU, Members Source CU, Natco CU, One Vision FCU, Sterling United FCU, and Thrive CU.
Indiana passed prize-linked savings into law in 2014. In 2015, Indiana’s credit unions partnered with the Indiana Credit Union League and Save to Win, which was created by the Michigan league, for the 2016 rollout.