While the pandemic changed the ways credit unions could celebrate this year's International Credit Union Day on October 15, one thing in Wisconsin remained the same: the Saver’s Sweepstakes® annual $5,000 statewide drawing.
Holly, a member at Educators Credit Union, was the lucky recipient of the grand prize drawing in 2020, now $5,000 richer just for saving money in her Savers account.
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.
Holly shared that the extra funds have arrived at the perfect time, with her son just settling into his first year of college.
Other statewide $1,000 quarterly winners included members from Cloverbelt Credit Union, Dane County Credit Union, Educators Credit Union, and Fort Community Credit Union.
Emily, a $1,000 winner at Cloverbelt Credit Union, plans to spoil her grandchildren, while fellow member Agnes is interested in using her winnings to purchase a new laptop and sewing machine. Agnes is a second-time winner as well; every $25 saved equals an entry and multiple opportunities to win prizes.
Since its launch, over 8,300 Saver’s Sweepstakes accounts have been opened at 36 participating credit unions across the state, with over $6 million saved as a result and over $120,000 given away in prizes in the past year. Check out this infographic showing the impact of the program.