Piedmont Advantage Credit Union is congratulating members who’ve increased their savings this year as the result of a prize-based savings campaign called Save to Win. Through this program members have an opportunity to win cash prizes while they build their personal savings.
The increase in savings is a positive sign as many consumers continue to spend more and save less.
"According to a survey by the National Foundation for Credit Counseling, more than one in four consumers indicated they are spending more than last year,” said Piedmont Advantage Credit Union President and CEO Judy Tharp.
“Yet 77 percent admitted to having financial worries, listing insufficient savings as their top financial concern" Tharp said.
Piedmont Advantage is seeking to ease some of those worries with improved financial education for members. That includes the current Save to Win promotion in which members are being encouraged to build their savings with regular deposits in a special savings certificate. Since the beginning of the year, 457 Piedmont Advantage members have opened the new accounts. They’ve saved a total of $483,479. That’s an average of $1,057 per member.
Save to Win accounts at Piedmont Advantage Credit Union can be opened for as little as $25. As an incentive to save, each deposit of $25 earns an entry into the monthly prize drawings, quarterly prize drawings and the annual grand prize drawing of $30,000.