Friday, November 9, 2018 ()
Two Harbors Federal Credit Union – Two Harbors, Minn. – Two Harbors Federal
Credit Union (THFCU) member James Fransen is the latest winner of a cash prize in the credit union’s WINcentive savings program. WINcentive is a credit unionexclusive savings account that rewards members for saving money.
WINcentive acts like a typical THFCU savings account, earning above-market dividends and insuring balances up to $250,000. Where it differs from a traditional savings account is in its ability to pay much bigger rewards. Every month WINcentive pays cash prizes to randomly selected account holders, provided they have made deposits to their account.
“The great thing about WINcentive is that you’re not buying a lottery ticket,” said Randy Willert, THFCU President/CEO, “You’re paying yourself, and earning dividends while getting a chance at a bigger prize.”
Those chances number in the hundreds over the course of the year, and are exclusive to credit union members in Minnesota with a WINcentive account. Each month 45 members are awarded $100. Each quarter, four members receive $1,000. Each year, one lucky member wins $5,000. Winning one award in a calendar year does not preclude you from winning again. Many prize winners have already won more than once.
Every time a participant increases their savings balance by $25 in a given month they are automatically entered into the contest (maximum of four entries per month).
For 13-year old James Fransen, the cash prize was just the incentive he needed. James has had a savings account at THFCU since the year he was born. He opened a WINcentive account a few years ago and makes routine deposits in the hopes of winning a cash reward.
Those hopes were realized when he received a $100 prize last month.
“James got into the savings habit,” said THFCU Vice President of Operations Jerry Hostetter, “Thanks to that extra incentive, he made saving money a priority over spending it.”
Two Harbors Federal Credit Union – Two Harbors, Minn. – Two Harbors Federal
Credit Union (THFCU) member James Fransen is the latest winner of a cash prize in the credit union’s WINcentive savings program. WINcentive is a credit unionexclusive savings account that rewards members for saving money. WINcentive acts like a typical THFCU savings account, earning above-market dividends and insuring balances up to $250,000. Where it differs from a traditional savings account is in its ability to pay much bigger rewards. Every month WINcentive pays cash prizes to randomly selected account holders, provided they have made deposits to their account.
“The great thing about WINcentive is that you’re not buying a lottery ticket,” said Randy Willert, THFCU President/CEO, “You’re paying yourself, and earning dividends while getting a chance at a bigger prize.”
Those chances number in the hundreds over the course of the year, and are exclusive to credit union members in Minnesota with a WINcentive account. Each month 45 members are awarded $100. Each quarter, four members receive $1,000. Each year, one lucky member wins $5,000. Winning one award in a calendar year does not preclude you from winning again. Many prize winners have already won more than once.
Every time a participant increases their savings balance by $25 in a given month they are automatically entered into the contest (maximum of four entries per month).
For 13-year old James Fransen, the cash prize was just the incentive he needed. James has had a savings account at THFCU since the year he was born. He opened a WINcentive account a few years ago and makes routine deposits in the hopes of winning a cash reward.
Those hopes were realized when he received a $100 prize last month.
“James got into the savings habit,” said THFCU Vice President of Operations Jerry Hostetter, “Thanks to that extra incentive, he made saving money a priority over spending it.”
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