Removing Barriers Blog

Heartland Shepherds Kansas and Missouri PLS Legislation
Posted May 11, 2016 by CUNA Advocacy

With the enaction of Heartland Credit Union Association-supported S 390, Kansas credit unions will soon be permitted to offer savings promotions programs, also known as prize linked savings (PLS) programs. The legislation authorizes credit unions and other financial institutions to conduct promotions in which a minimum deposit in an amount predetermined by the institution qualifies for a chance to win prizes.

Heartland is on the verge of a similar legislative victory in Missouri, as a PLS bill, H 2125, recently passed the legislature and is awaiting the Governor’s signature.

PLS programs have been authorized in 17 other states and bills are pending in Arizona (S 1512), Delaware (H226), Louisiana (H 681) and Pennsylvania (H 837).