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Michigan Credit Union League

Astera Credit Union Announces Save to Win Program

This month, Astera Credit Union launched a new savings account that not only allows its members to save money, but possibly win some as well. The Save to Win account gives Astera members monthly and quarterly chances to win cash prizes as well as statewide drawings for up to $5,000 in grand prize winnings.

The savings tool was designed to appeal to credit union members who are not in the habit of saving and those considered financially vulnerable. Of the account holders surveyed in 2015, approximately 90% were considered financially vulnerable (low-to-moderate income, asset poor or non-saver). In addition to encouraging members to set aside money, Save to Win also provides financial education tools and resources to help members achieve strong financial futures.

Save to Win was developed by Commonwealth, the Filene Research Institute and the Michigan Credit Union League (MCUL). MCUL launched the pilot program in partnership with eight Michigan credit unions in 2009 and has since expanded to include several states. The program is now administered by CU Solutions Group, an affiliate of MCUL.

To date, the program has awarded more than $2.3 million dollars in cash prizes and has helped credit union members save nearly $140 million nationwide. To learn more about Astera’s Save to Win account, visit here.

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2019-04-17 00:00:00