FULLERTON, Calif.– American First Credit Union has awarded Nick H. from Brea, Calif. its grand prize of $50,000 in its newest savings program, Big Prize Savings.
Big Prize Savings is designed to promote and encourage good saving habits by offering account holders a chance to win substantial cash prizes just for saving their money. The Big Prize Savings winnings will continue in 2020 with prizes of $1,000 each month, $10,000 each quarter, and a $50,000 grand prize at the end of the year.
Nick H. is a long-time saver and he jumped at the chance to open a Big Prize Savings account in March 2019.
“I’m still dreaming. I haven’t woken up from my dream. My family won’t believe me when I tell them how much I won,” said Nick H.
At the end of each month, Big Prize Savings account holders who maintain an average daily savings balance of $500 or more for that month receive one entry for every $25 saved. Account holders have a greater chance of winning prizes the more they save.
Prize-linked savings programs became available in California in 2019.
“Savers like Nick are great examples for all of us to follow,” said Jon Shigematsu, CEO and president of American First Credit Union. “American First is thrilled that Big Prize Savings can reward savers and encourage others to also establish the important habit of saving.”