DALLAS–A member of Neighborhood Credit Union here has won $49,999.99 as part of its savings competition.
The member, a 76-year-old retiree identified as Jose C., opened his door to find several Neighborhood Credit Union team members on his porch with a giant check for $49,999.99 in his name.
Jose’s name was drawn on New Year’s Day from the ranks of Neighborhood Credit Union members who have a Prize Savings Account, a special account created to encourage more people to save money. Neighborhood Credit Union rewards good saving habits with prize drawings throughout the year, culminating with the $49,999.99 Grand Prize at the beginning of each new year.
According to the Cornerstone Credit Union Association, Jose said he was “skeptical” when he got a call from Neighborhood Credit Union telling him they wanted to bring him a prize.
“I was pretty suspicious when I got the call that I was going to win something,” Jose was quoted by the CCUA as saying. “I thought about hiding in the yard or maybe even calling the police."
In a video that can be found here, Jose talks about coming to the U.S. from Mexico and understanding the value of earning money, as well as sharing what one has.
The CCUA reported the father of six turned 76 in November and has been a member of the credit union for about 10 years. He retired three years ago, after a 38-year career with Dallas-based GAF, which manufactures roofing shingles. “Though his savings are modest, he has been consistent about living within his means and planning for the future. Wednesday’s Grand Prize deposit multiplied his Prize Savings Account balance more than six-fold,” the CCUA said.
The Prize Savings Account program at Neighborhood works this way: NCU 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 weekly $1,000 drawings and quarterly $10,000 drawings. At the conclusion of each year, a Grand Prize winner is drawn for the $49,999.99 jackpot based on the average monthly balance in the savings account at the close of business December 31.