WESTERLY, R.I. Westerly Community CU said the winner of its $5,000 Savings Challenge is Leonora Cacabelos of Bradford, R.I.
The grand prize was unveiled at a Savings Challenge Finale held at the credit union’s office in Westerly on Jan. 17.
The credit union’s Savings Challenge ran from Jan. 1 through Dec. 31, 2012. The credit union started the program as a way to create good savings habits, by encouraging its members to open a Savings Challenge CD (with $25 min. deposit) and adding to it throughout the year. Each deposit of $25 (up to 10 per month) entered members into quarterly drawings and the Grand Prize drawing for $5,000. More than 250 members took advantage of the opportunity and watched their savings grow over the year, Westerly Community said.
Although the contest ended, the Savings Challenge CD will continue to be offered.