Participating credit unions across North Carolina report a steady stream of account openings in the first weeks of Save to Win. The savings campaign, which debuted in early January, encourages credit union members to develop a regular habit of saving money by offering a chance to win prizes.
Seven NC credit unions rolled out Save to Win in January: American Partners FCU, Greensboro Municipal CU, Mountain CU, Piedmont Advantage CU, Premier FCU, Telco Community CU, and Winston-Salem FCU. The campaign’s first winners will be selected at random next week. A total of $1,000 in prize money will be awarded to twelve lucky winners. In addition, some of the individual credit unions plan to award separate monthly prizes to their participating members.
Using staff incentives and a steady stream of positive communications about Save to Win, credit unions were easily reaching their goals for the initial month of the campaign. “We set our goal for each branch to open up at least five Save-to-Win accounts in the first month,” said Brooke Russell, a Member Service Representative with Telco Community CU in Asheville. “I am happy to say we accomplished this goal and more by opening up 73 accounts in January.”
Mountain CU, also in the Asheville area, reported 23 account openings in January, with more than $11,500 deposited thus far. “We have offered small incentives to our staff, and this has really boosted interest for our staff and made it fun to open the accounts,” said Marketing Director Dana Thompson. She added that the credit union was providing a $10 Subway gift card when Mountains staff open two Save to Win accounts, plus e-mail “shout-outs” to congratulate staff when they earn the incentive.
“This gets members excited to start saving,” Amanda Davis, Winston-Salem FCU’s Director of Marketing, said of Save to Win. WSFCU has also been providing staff incentives in order to engage the staff and build excitement around Save to Win. Davis said the credit union recorded 14 Save to Win account openings in January with deposit amounts ranging from $25 up to $500.
Meanwhile, American Partners FCU noted 110 new Save to win account openings in January, with more than $12,700 deposited. “It’s amazing the response we are getting on Save to Win,” shared APFCU Marketing Manager Stephanie Chism. “I feel our members understand that they can’t lose. It truly is a win-win situation.”
Piedmont Advantage CU noted 134 account openings with an eye-popping $192,000 deposited in the first month alone. Credit union staff, spurred on by a series of challenges and promotions, opened accounts at a steady clip throughout January. “We are having an internal Mardi Gras themed employee promotion in February to encourage the habit of saving and to open new Save to Win accounts,” shared Marketing Specialist Cassi Williams.
Save to Win participants open a special 12 month share certificate, and deposit money in $25 increments to earn “chances” at winning monthly prizes. Participants are limited to up to 10 chances each month in order to make the prize competition fair. At the end of the campaign, participants have the opportunity to win a $30,000 grand prize.
“The more our members see and hear the winner’s names and faces, the more excited they will become. I think it’s awesome,” said Chism.
The first monthly winners will be announced on February 14, as will the official account opening and deposit details for January in NC. For more information on Save to Win in NC, please click here.