CEDAR HILL, Texas–One CU member here likely had a better International Credit Union Day than anyone else.
Van Polk III, a member of Neighborhood Credit Union, won $10,000 from the credit union as part of its Prize Savings Account promotion.
Polk, a postal service retiree and Neighborhood Credit Union member for 34 years, is a strong proponent of “paying yourself first” and it is something he has practiced his entire life, according to NCU. He said that he would eventually need money when he retires and the only way he was able to accomplish that was by getting into the habit of putting money away.
“Mr. Polk has been a dedicated saver and loyal member for many years,” said Carolyn Jordan, senior vice president at Neighborhood Credit Union. “This is our way of showing appreciation and rewarding our members for making saving a priority.”
Dallas-based Neighborhood Credit Union established the Prize Savings Account in 2007 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.
According to the CU, while he was working for the Postal Service, Polk needed some financial help and had been turned down by other financial institutions. After financing his first car with Neighborhood Credit Union in 1969, he decided to come back and said he is glad he did.
A video of Polk being awarded the money can be seen here: https://youtu.be/XO7GXk5bDxg