I can't tell you how excited we are to launch this product. It's so new, different, and promising, I'm anxious to see how many of our members get in on the fun
Lansing, MI (Vocus) March 27, 2009
Throughout its 57-year history, NuUnion Credit Union has promoted the belief that saving is the key to creating financial stability, and this year they're ready to reward members for saving money. As one of only eight Michigan credit unions piloting this innovative program, for as little as $25, NuUnion account holders will be entered into a drawing to win a $100,000 grand prize. And, those same members are eligible for more than $39,000 in monthly prizes.
NuUnion's new savings product, Save to Win, encourages people to save regularly by offering chances to win cash prizes every month. And one lucky Michigan saver will win a grand prize of $100,000 to be awarded in January 2010.
"Sometimes an added incentive is just what it takes for people to make a positive change in their lives," said Stephan L. Winninger, President and CEO, NuUnion Credit Union. "We know the Save to Win Program could be a first step for people who are looking to get on the right track with their savings habits or get back in the black with their personal finances. Save to Win meets so many of NuUnion's goals -- helping members achieve their financial goals, developing financial literacy skills, and making a difference in our members' lives. This program is a natural fit for us because it does so much good for people."
Here's how the Save to Win program works -- NuUnion members and consumers who become members of NuUnion open a qualifying certificate of deposit. For every deposit of $25 in a given month, they earn an entry into the monthly drawing, up to 10 prize entries per month. At the end of the month, NuUnion will award prizes totaling more than $400 to members who made savings deposits during the month. The monthly prize entries will also count as entries for the $100,000 grand prize drawing in January 2010.
In contrast to most reward-type programs that are based on how much people spend, Save to Win rewards consumers for saving money. With regular deposits into their Save to Win certificate all year, members are guaranteed to have more money saved, plus interest. This is a win-win for credit union members because even those that don't win a prize will still be earning regular interest and building savings.
"I can't tell you how excited we are to launch this product. It's so new, different, and promising, I'm anxious to see how many of our members get in on the fun," Winninger said. "If this program helps even one member learn how easy it is to save a little bit each month and build a big savings account, then Save to Win will be a success."
To see the official rules of the Save to Win product, go to http://www.michigansavingsraffle.org.
NuUnion was established in 1952 and today is more than 88,000 members strong. With about $813 million in assets and 14 branches, including eight locations in Lansing, two in Mt. Pleasant, and four in west Michigan, NuUnion believes in providing total financial solutions to its members through a unique service experience. Membership is open to anyone in its 28-county service area.