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Oconomowoc Resident Awarded $5,000, Just for Saving Money

by Sammy Dennis, Director of Communications Oct 21, 2019

Saver's Sweepstakes $5,000 winnerIn celebration of International Credit Union Day last week, Oconomowoc resident Kristine is now $5,000 richer just for saving her own money, thanks to the statewide Saver’s Sweepstakes® program.

Saver’s Sweepstakes is a prize-linked savings program available to Wisconsin’s credit unions. Members at participating credit unions can open special accounts that pay them dividends while automatically entering them in cash prize drawings on a monthly, quarterly, and annual basis.

This program was made possible due to state legislation passed in 2017 that was supported by The Wisconsin Credit Union League.

Since its launch, over 4,800 Saver’s Sweepstakes accounts have been opened at 32 participating credit unions across the state, with over $2.5 million saved as a result. And that amount (and the prize pool) is growing, with a projected $120,000 in prizes to be awarded for 2020.

“I love how easy it is to build my savings, plus you can win money,” Kristine said. Having moved to the area from Florida in January, she got established with Glacier Hills Credit Union right away and opened a Saver’s account, hopeful that she would win. She plans to put some of her winnings back into the account and use the rest to take her family on a cruise.

Other statewide winners received quarterly prizes of $1,000 apiece, and hailed from Educators Credit Union, Park City Credit Union, and Taylor Credit Union. The next statewide drawing will take place on November 15.

Prize-linked savings programs like Saver’s Sweepstakes make saving fun and can start many individuals on the path to improved financial security. More information about Saver’s Sweepstakes is available here.