Beginning September 1, MMCCU will begin offering the Saver’s Sweepstakes™ savings account, designed to encourage building savings balances among all credit union members. The program offers prize drawing entries in return for each $25 increase in their savings balance, up to six (6) entries per month, into a state-wide raffle. Drawings occur monthly and quarterly, while a grand prize is drawn annually, with a grand prize up to $5,000!
Unlike playing the lottery, accountholders are rewarded by watching their savings grow while experiencing the excitement of prize drawings, and regardless of whether an accountholder wins one of the drawings or not, the member still keeps all of the money deposited and dividends paid on the account!
American’s still lack savings despite improvements in the economy. According to a recent Bankrate’s Financial Security Index Survey, 6 in 10 Americans don’t have enough set aside to cover a $500 unplanned expense, and a quarter of American’s have no emergency savings at all.
The program is open to Wisconsin residents only. Withdrawals from the account are limited based on the program details. See the account agreement linked below for more information. Federally insured by NCUA. Membership eligibility required.
Interested in opening a Saver’s Sweepstakes™ account? Give us a call at (715) 387-8686 or stop by our office at 302 W Upham St for more information!
Have you opened a Saver’s Sweepstakes™ account? We welcome your feedback on the program. Please click here to take a short survey to provide the credit union with feedback on the program!