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Michigan Credit Union League Home » The CU Difference » Community Reinvestment Initiative » Implement a CRI Product or Program » Save to Win  

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Prize-Linked Savings Program for Michigan Credit Unions 

Save to Win is national award winning innovative product available only at participating credit unions. A provision in the Michigan Credit Union Act allows state and federal-chartered credit unions to offer prize-linked saving raffles to their members in which a savings deposit can constitute entries into a raffle drawing. Through 2013, more than 12,500 Michigan credit union members saved $33 million with the Save to Win program. In our current slow-growth economy, this is a huge accomplishment for Michigan families and for Michigan credit unions!

This program started as a part of the Michigan's Community Reinvestment Initiative, because it's closely tied to our mission of "People Helping People," by giving members a way to build good savings habits and enjoy a more responsible game of chance. This unique product was developed by Doorway to Dreams, The Filene Research Institute and the Michigan Credit Union League and Affiliates.  

Key Program Facts:

  • In 2014, 33 credit unions of all sizes across the state are Save to Win partners, but there's plenty of room for more credit unions to participate. 
     
  • Participation fees for 2015 include an annual contribution based on your credit union's membership size. Credit unions are responsible for expenses associated with marketing the program and have the option to offer additional monthly or quarterly prizes to your members or staff, which would be funded by the credit union.
     
  • 2015 prizes will be awarded from January through December with (150) $25 monthly prizes and (16) quarterly prizes, ranging from $500-$5,000. 
     
  • The Michigan Credit Union League promotes Save to Win through statewide PR campaigns and works with national media to highlight participating credit unions. Save to Win has been recently featured in the New York Times and the Wall Street Journal and has been broadcasted on PBS and NPR.

 More Information: 

Sign Up for Save to Win 2015:

For more information visit www.savetowin.org or contact Save to Win Product Coordinator at jessica.thelen@cusolutionsgroup.com or 800-262-6285 extension 458. 

Check out Save to Win on  Facebook  and Follow us on  Twitter 

 

 
   
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