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Michigan Credit Union League Home » Information Services » Publications » News Articles  

Prominent Media Outlets Highlight Save to Win   (Misc News: January 15, 2014)

Save to Win has been in the news this week with stories from two prominent media outlets.

First, on Tuesday, CNN Money did a story that featured the winner of Nebraska’s $25,000 Save to Win contest.

"[My wife] just stood there in shock ... I had no clue what was going on, I thought someone had died," saidLaVerne Brickner, who won $25,000 in the prize-linked savings program. "We went to bed that night going, 'Wow, tell us this again when we wake up in the morning to make sure we're not dreaming.' "

MCUL & Affiliates CEO David Adams told the website that people of lesser means connect with the program.

"When [participants] find out they get a prize, they are just ecstatic because most are hardworking, middle-class people," Adams said.

On Wednesday, New York Times contributor, Tina Rosenberg, winner of a Purlitzer Prize, weighed in on prize-linked savings programs such as Save to Win.

“Our society tries to push people to save,” Rosenberg wrote. "Various incentives make it less painful. But since they largely rely on the tax code or employer-based savings plans, they don’t reach a large percentage of Americans — the very people who need to save most and find it the most difficult."

Click here to read the CNN Money story.

Click here to read The New York Times story.

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