There were many treats to pick up at the credit union vendor fair at North Memorial in Robbinsdale last week, but Darrin Maki took home the best prize of all. The 21-year-old won $1000 for saving money monthly in his Wincentive Savings account.
“I’m not really good at saving, but it helped with this because it was super convenient and easy,” says Maki
It also didn’t hurt that his grandmother, who works at North Memorial Federal Credit Union, encouraged him to enroll and start saving. “I know he’s a little tightwad,” sayd Linda Mankowski. “Instead of leaving it in his checking account, we decided to transfer it into the Wincentive because of all of the promotions going for it.”
Grandma knows best because Darrin has won money three times in the past year for saving at least $25 in his account each month.
“That is one of the draws of Wincentive Savings,” says Andrea Molnau, director of communications at the Minnesota Credit Union Network. “It brings people to the program. It’s approachable and its’ fun. It makes saving easy and exciting and when you win, that makes it even more fun.”
Wincentive Savings is a statewide program that wants to turn non-savers into savers. It is offered at several Minnesota credit unions. To participate, simply open an account at a participating credit union with $5 or more. Then, you can be entered for prize drawings each month each time you increase your savings balance by $25. You are allowed four entries per month. Prize drawings occur monthly, quarterly and annually.
Since last year, almost four thousand people saved almost 2.9 million dollars statewide. At North Memorial Federal Credit Union, one out of every four Wincentive savers have won prize money. “People will say someone on my floor win $100, so I want to win too. It’s been a conversation starter to get someone in the door and start saving for life’s emergencies,” says Dana Garrett, president/CEO of North Memorial Federal Credit Union
. "Wincentive has gotten a very warm reception from our members."
Shannon Slatton, reporting
on Twitter: @sslatton
January 25, 2017