BREA, Calif.–American First Credit Union here has awarded $10,000 to a member participating in its “Big Prize Savings” account initiative, which is a prize-linked savings account.
The winner, identified as Natalie R. or Rowland Heights, Calif., called the savings program a “big motivator to keep saving, and with this money I actually want to keep saving! This credit union is so different from any other bank.”
At the end of each month, Big Prize Savings accountholders who maintain an average monthly daily savings balance of just $500 or more receive one entry for every $25 saved.
Prizes offered include a $1,000 cash prize every month, four $10,000 prizes per year, and a $50,000 annual grand prize at the year's end, the credit union said. The Big Prize Savings account has no fees and pays interest on qualified balances.
"Big Prize Savings was started for people like Natalie, and that's why we're so excited to award the saving incentive prize to her. Natalie is an example of how saving money can lead to great opportunities," said Jon Shigematsu, CEO/president of American First Credit Union. "This saving incentive program aligns perfectly with our mission to help people in our community and encourage a good savings habit."