Starting November 1, SESLOC Federal Credit Union members will have the chance to enroll in a unique Save to Win 12-month Share Certificate. Save to Win is a prize-linked savings account that offers the chance to win extra cash as increased deposits are made to the account. The goal of the program is to help people grow healthier savings habits in a fun way.
”It is a frightening statistic that nearly half the adult population in the U.S. does not have basic savings to cover a $500 emergency, and financial stress is a leading cause of physical stress,” said Geri LaChance, SESLOC President and CEO. We continue to look for ways to encourage members to build a safety cushion, to improve not only the health of their finances, but their lives.”
The Save to Win program is new to California, but it has helped credit union members in other states with programs save nearly $200 million over the past decade.
Members can visit any branch to open a Save to Win 12-month Share Certificate. For every $25 deposited, account holders are automatically entered into monthly and quarterly prize drawings to win up to $5,000 from the central prize drawing from all Save to Win Program participating credit unions. Additionally, a $500 quarterly prize and two $25 monthly prizes will be drawn exclusively from SESLOC Save to Win account holders. The more account holders deposit, the greater their chances of winning (maximum of 10 entries per month).
For more information on the program, please visit sesloc.org/save-to-win.