Save to Win

Frequently Asked Questions

What is the Save to Win account?

Save to Win is a special savings product that offers the participating credit union members an opportunity to win cash prizes — just for saving! The program offers a fun, innovative, and exciting way to save, which empowers members to achieve financial success. Each $25 you save into a Save to Win account, earns you an entry into the monthly, quarterly, and/or annual drawings (where applicable). Not only will you build your savings and earn dividends, but you can also win multiple prizes throughout the year.

How do the Save to Win raffle entries work?

The primary account holder earns one entry into the monthly, quarterly, and/or annual prize drawings (where applicable), for every $25 increase in the monthly balance of the Qualifying Save To Win account at month’s end (month-over-month balance increase). This means there must be an increase in balance from the previous month by at least $25 in order to earn the entries. The more you save, the more chances you receive to win! Max 100 entries per month. Max 300 per quarter. Max 1200 annual (where applicable).

Where can I find the official account rules?

You can pick them up at your credit union or download a PDF version from their website.

When are the drawings held?

National and state-wide drawings are held around the 14th of each month and quarterly drawings in January, April, July, and October. Some credit unions and states offer annual prize drawings (refer to your credit union’s Official Rules for details).

How will winners be notified?

Winners will be notified by their credit unions via telephone, email, or standard U.S.P.S. mail. Prizes are non-transferable. Winners need not be present at the drawing to win.

What are the withdrawal limits, fees, or minimum balance requirements on this account?

Generally, a Save to Win account has the same limitations as a regular savings account with no monthly fees.  Please refer to our Truth-in-Savings disclosures for all our account limitations and/or other applicable fees.

How long do I need to keep this account open?

In order to be eligible for the current drawing period, your account must be open through the last day of the month.

Are joint members/accountholders eligible to win?

Only the primary member on the Save to Win account will be entered into the drawing based on their eligibility status. A joint member can contribute to the savings account and withdraw funds, but their name will not be entered into the drawings.

Can my child have a Save to Win account?

You may open a Save to Win account for a child; however, the child may not be eligible to win the prize. The Raffle is open to all natural persons who, at the time of entry (a) are Credit Union members, (b) at least 18 years of age, (c) are residents of a state in which Prize Linked Savings is permitted, and (d) who maintain a regular share account in good standing with the Credit Union (“Eligible Members”). Where permissible under applicable state law a Trust may also be considered an Eligible Member for purposes of the Raffle. To be eligible to win the prize, the winner must meet all eligibility requirements mentioned in the Official Rules. Please refer to our Save to Win Official Rules for full details and program requirements.

Can credit union board members and/or employees have accounts?

Officers, directors, and employees of the participating Credit Union are not eligible to participate in the Raffle.

Can family members of credit union employees have accounts?

Each credit union can make its own determination about family members of officers, directors, and employees of the participating credit union. Refer to your credit union’s Official Rules for details and eligibility requirements.

What kinds of prizes does this account offer?

The best prize is to see your savings grow with regular deposits each month. But to make saving even sweeter, hundreds of monthly cash prizes and several quarterly cash prizes will be awarded throughout the year. The eligible winners will be notified by the credit union via phone, email, and/or mail. Please refer to the credit union’s account disclosures and the credit union’s Official Rules for details. The Official Rules and a complete list of prizes are also available at savetowin.org.

Can I win multiple prizes in the same drawing period?

A Participating Member is limited to winning one Central prize per drawing period and is also limited to winning one Credit Union prize per drawing period, if applicable. A Participating Member may be eligible to win both a Central prize and a Credit Union prize in the same drawing period, at the discretion of each participating credit union. Please refer to the participating credit union's official rules and account disclosures for details.

How will prizes be paid out?

The funds will be deposited into the members' regular savings account.

Will I be taxed on prize winnings?

Winners who receive prizes totaling $600 or more each year are required to report earnings on their tax returns and may be required to pay applicable state and federal taxes. Credit unions will provide 1099 MISC forms to those winners in January for their previous year’s earnings.

What are the odds of winning a prize?

Actual odds of winning are based on the number of eligible entries received. For each eligible entry, the chance of winning monthly, quarterly, or annual prizes is equal to that of all other entries in the raffle.

If I deposit $49.83 into my account, how many entries do I earn?

Since there is no rounding up, you would only receive one entry for the drawing period. Entries are earned for each $25 month-over-month balance increase, up to 100 entries maximum per month.

If I withdraw funds from my account, will I lose entries?

Save to Win entries are calculated based on month-over-month balance increases. A withdrawal from your account could affect whether you had a balance increase for a particular month. If due to your withdrawal you do not have a balance increase compared to the prior month, you will not get entries for that particular drawing period.