RALEIGH, N.C. (1/14/13)--Seven North Carolina credit unions this month launched Save to Win, a program that encourages consumers to develop the habit of saving money, said the North Carolina Credit Union League.
The program encourages saving money by offering the opportunity to win monthly prizes--and a chance at a $30,000 grand prize at the end of the campaign (The Weekly Conversation
The seven credit unions launching the year-long campaign this month are:
- American Partners FCU, Reidsville;
- Greensboro (N.C.) Municipal FCU;
- Mountain CU, Waynesville;
- Piedmont Advantage CU, Winston-Salem;
- Premier FCU, Greensboro;
- Telco Community CU, Asheville; and
- Winston-Salem (N.C.) FCU.
NCCUL, in partnership the Michigan Credit Union League, is administering the program on behalf of the credit unions.
Save to Win participants open a special 12-month share certificate to enter the campaign. Participants earn chances for monthly, quarterly, and grand prizes by making additional deposits to the certificate in $25 increments--with up to 10 chances per person per month. Participants do not lose any deposits and earn dividends on the money they save.
MCUL first implemented Save to Win in Michigan in 2009. In its first year, more than 11,000 people saved more than $9 million. The campaign has grown in size and credit union participation since.
To view a video about the first member account opened for the North Carolina program, use the link.