ST. PAUL, Minn. – Affinity Plus Federal Credit Union members recently surpassed another big success milestone in the WINcentive Savings program. Since launching WINcentive Savings in January 2016, 3,947 of the credit union’s members have collectively saved $2 million, APFCU said.
“Seeing $2 million saved in a few short years is incredible,” said Affinity Plus President/CEO Dave Larson, noting how small amounts of money regularly deposited can add up to a lot. “The success of this program clearly illustrates two things – not only can saving be fun and exciting, but it also can have the ability to change long-term behavior.”
WINcentive Savings, also known as prize-linked savings, rewards members for practicing regular savings habits. For every $25 saved in a WINcentive Savings account each month, a member earns an entry into cash prize drawings (maximum four entries per month).
WINcentive holds 50 monthly drawings for $100 each; five quarterly drawings for $1,000 each; and one annual drawing for $5,000.
“Our members love that you can win money just by saving it – you can't lose," Larson added.
Affinity Plus members with WINcentive Savings accounts have additional chances to win through a special $25,000 prize pool the credit union set aside for its own monthly, quarterly and annual drawings.
Since program implementation in January 2016, 798 Affinity Plus members have been awarded a total of $139,600 in cash prizes – including $5,000 to the 2017 grand prize winner.
Affinity Plus members statewide can open WINcentive Savings accounts at any branch location throughout Minnesota.