Crane Credit Union offers an innovative savings program called Save to Win. By making a $25 deposit, members are entered into drawings throughout the year and get chances to win cash prizes – all while building their savings balances. Crane Credit Union members have saved over $709,000.
This prize-linked savings account gives Hoosier savers the chance to win monthly and quarterly prizes from two different prize pools. The state-level prize pool features monthly and quarterly prizes ranging from $50 to $1,000 and a national prize pool offering quarterly prizes from $25 to $5,000. Crane Credit Union also distributes $500 in prizes each month to its members. Credit union members just need to save their money to qualify. Savers earn entries for every $25 they save in a given month, with a maximum of ten entries per month.
Crane has distributed over $35,000 in cash prizes to its members since it launched the program with members winning from $25 to $1,000 in individual cash prizes.
More information is available at http://www.cranecu.org/savetowin.