Indiana credit union members save $6.7 million and win cash

Members at 17 Hoosier credit unions can Save to Win
​February 2, 2017

INDIANAPOLIS, EVANSVILLE, MERRILLVILLE, KOKOMO, ODON – Twenty-nine credit union members from six different Indiana credit unions started the New Year with some unexpected cash in their pockets, thanks to their commitment to saving money. Each won between $25-$1,000 in December for their participation in their credit union’s Save to Win prize-linked savings program. For every $25 deposited into their Save to Win account, they earned one entry into monthly and quarterly prize drawings. December savers’ names were drawn in January. These 29 Hoosiers are among 20,140 account holders at 92 credit unions in ten states who saved more than $55 million in 2016.
 
The Save to Win program was introduced in Indiana in April of 2016, and currently includes 17 credit union participants across the state.  Hoosier credit union members have saved $6.7 million since the program launch.
 
“We continue to add credit unions to the program which makes even more members eligible to win,” said Indiana Credit Union League President John McKenzie. “Regardless of the prize drawing outcome, savers at all participating credit unions have the opportunity to practice good savings habits.”
 
Credit Unions with winners in December          City
Crane CU                                                                   Odon
Financial Builders FCU                                           Kokomo
Financial Center First CU                                       Indianapolis                            
Evansville Teachers FCU                                       Evansville       
Members Source CU                                               Merrillville
Sterling FCU                                                              Evansville
 
Participating credit unions are listed below. Members who start a Save to Win account or deposit at least $25 into an existing account at any participating credit union by Feb. 28 are eligible for the next monthly drawing, which will take place in March.
 
Participating Credit Unions and headquarter cities
Crane CU, Odon
Diamond Valley FCU, Evansville
Evansville FCU, Evansville
Evansville Teachers FCU, Evansville
Financial Builders FCU, Kokomo
Financial Center First CU, Indianapolis
Harvester Financial CU, Indianapolis
KEMBA CU, Indianapolis
Members Advantage CU, Michigan City
Members Choice FCU, Bloomington
Members Source CU, Merrillville
Natco CU, Richmond
One Vision FCU, Jeffersonville
ProFinance FCU, Merrillville*
REGIONAL FCU, Hammond
Sterling United FCU, Evansville
Thrive CU, Muncie

*Program will launch on April 1
 
About Save to Win and prize-linked savings: Indiana passed prize-linked savings into law in 2014. In 2015, Indiana’s credit unions partnered with the Indiana Credit Union League and Save to Win to begin making plans for the 2016 roll-out. The program was first offered in Michigan in 2009 and has continued to grow and flourish in other states. Indiana is one of just ten states whose credit unions are offering Save to Win. Click here for more information about Save to Win in Indiana.