CLINTON TOWNSHIP, Mich. – Raymond Carpenter, 80, and Chase McCarthy, 8, received nice gifts after Christmas from FreeStar Financial Credit Union. Carpenter won $1,000 in the Save to Win Certificate of Deposit (CD) multi-state quarterly drawing in December, while McCarthy received a Samsung tablet as the annual iSave CD winner from 2017.
The Save to Win CD, offered to credit union members, can be opened with as little as $25 with additional deposits accepted throughout the 12-month term. For every deposit of $25, the member’s name is automatically entered into a drawing for prizes. Savers can win monthly and quarterly cash prizes valued up to $5,000.
Carpenter, a member for 37 years, and his wife participate in the credit union’s Save to Win CD program monthly.
“The Save to Win certificate is designed so that everyone can participate with a small investment of $25,” said Dream Isaac, President and CEO. “We believe strongly in developing a pattern of saving, and this program allows our members a great way to save money and win cash prizes. It combines the thrill of playing the lottery, without the risk,” added Isaac.
Members have saved $1.174 million to date in the Save to Win program.
The iSave CD program encourages youth up to 17 years old to save regularly. The CD requires just $25 to open and with each $10 deposit, the member is entered into the annual drawing for a tablet. In 2017, there were 3,542 entries.