LIVONIA, Mich. -- The Michigan CU League is expanding its $100,000 Save to Win lottery this year by adding more $10,000 prizes and by offering the SaveUp Rewards program as an adjunct.

SaveUp is a rewards program for credit union members that gives them the chance to win prizes by saving money and paying down debt and is complimentary to the Save to Win share certificate. After a successful pilot conducted and researched by the Filene Research Institute, which also helped create the Save to Win contest, SaveUp is being offered to Michigan credit unions.

SaveUp rewards users each time they contribute to their savings or retirement accounts, pay down credit cards, mortgages or other loans, or engage with SaveUp’s financial education content. For each positive financial activity, SaveUp users earn credits that can be redeemed for the opportunity to win prizes.

With SaveUp, members become more financially aware of their habits and have fun at the same time by engaging in games and challenges. Credit unions interested in participating in Save to Win and SaveUp will receive special pricing discounts from the league’s service corp., CUcorp, for participating in both programs.

The fifth year of the Save to Win contest will feature several First, the prize structure has changed for next year, which will award 10 grand prizes of $10,000 each at the end of the program year in February 2014. The league will also award between 50-75 prizes of $50 each month, as part of the savings contest.

Savers can qualify by buying a Save to Win CD at a participating credit union.

 

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.