OMAHA, Neb. (1/11/12)--The Nebraska Credit Union League and nine Nebraska credit unions will launch the "Save to Win" program Thursday and Friday in several cities in the state to offer credit union members a way to increase their savings.
Three separate launch events will be held in Omaha, Lincoln and Kearney.
By making a $25 deposit, members at one of the participating credit unions will be entered into a drawing to win a $25,000 grand prize. Those same members also are eligible for monthly prizes.
Members are guaranteed to have more money saved than when they started, because they keep all the money they have saved plus interest, said the league.
"The Save to Win program is yet another way in which our credit unions are promoting thrift to their members by incentivizing them to save for the future," said Scott Sullivan, league president/CEO. "By linking the chance to win great monthly prizes along with a $25,000 grand prize, we believe the Save to Win program will lead some members to begin saving for the first time while helping others to accelerate their habit of saving."
To participate in Save To Win, members open a share certificate and for each deposit of $25 or more they earn an entry into a drawing of up to 10 prize entries per month. Prizes totaling $1,500 will be awarded to members who made savings deposits during the month and whose names are drawn. The prize entries also will be entered into a grand prize drawing of $25,000 in January 2013. Members must be 18 years old and have a traditional share/savings account with a participating credit union.
Credit unions participating are:
- Family Focus FCU, Omaha;
- Gallup FCU, Omaha;
- Kearney (Neb.) FCU;
- KEE FCU, Kearney and Lexington;
- Liberty First CU, Lincoln;
- MembersOwn CU, Lincoln and Beatrice;
- Mutual 1st FCU, Omaha;
- Omaha Police FCU, Omaha and LaVista; and
- SAC FCU, Omaha and Bellevue.
Save to Win was first offered in Michigan in 2009. Across Michigan, more than 16,400 members at 43 participating credit unions have saved more than $30 million as of December, according to the Michigan Credit Union League.