Afena Federal Credit Union is bringing its multi-state savings account product, Save to Win, to Grant County. A national product of CU Solutions Group; Save to Win is prize-linked savings account that incents account holders to save more of their own money by offering chances to win monthly and quarterly cash prizes.
The goal of the Save to Win account is to foster a regular habit of saving among account holders. The more a person saves, the more chances they earn towards winning prizes.
Accounts can be opened with an initial starting deposit of only $25 and added to at any point in time. For every $25 deposit, an account holder earns one entry to a cash prize drawing. Drawings for prizes are conducted at a multi-state, state, and local level and offer prizes ranging from $25 monthly to $5,000 quarterly.
“Most Americans don’t have enough money in savings to cover a $1,000 emergency expense— and truthfully, that’s a big problem,” said Karen Madry, President and CEO of Afena. “Afena is so excited to bring this product to Grant County because it’s a win-win-win. It’s the thrill of playing the lottery, but with Save to Win you never lose money buying a ticket, you just grow your savings and get paid interest. How cool is that?” stated Madry.
Since first launching in Michigan in 2009, Save to Win has helped credit union members save over $200 million dollars and $3.1 million in prizes have been awarded to account holders nationwide. As of 2019, there were 136 credit unions participating in the program across 19 states with more than 31,000 open Save to Win accounts. Save to Win is available in Grant County exclusively through Afena Federal Credit Union.
A full list of participating credit unions and additional product information is available at www.savetowin.org