Prize-Linked Savings: Save to Win Program Kicks Off (Monitor: February 23, 2009)
The MCUL and eight credit unions in Detroit, Grand Rapids, Lansing, Flint, and Port Huron have teamed up to encourage members to save by offering a $100,000 grand prize. Members enter the “Save to Win” program by making deposits of $25 or more in their savings accounts, and have a chance to win monthly prizes from their credit union as well as the grand prize.
“Save to Win is another great example of how hard credit unions work to live up to their mission of helping members achieve financial success,” said MCUL President/CEO David Adams.
The eight Michigan credit unions participating in this pilot program are:
- Central Macomb Community Credit Union, Clinton Township
- Christian Financial Credit Union, Roseville
- Communicating Arts Credit Union, Detroit
- E&A Credit Union, Port Huron
- ELGA Credit Union, Burton
- Frankenmuth Credit Union, Frankenmuth
- NuUnion Credit Union, Lansing
- Option 1 Credit Union, Grand Rapids
To see the official rules of the Save to Win product, go to www.michigansavingsraffle.org.
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Regulatory Affairs
