Save to Win Awards $5,000 Annual Winner

While prize-linked savings (PLS) is being prepared for roll out in Oregon, Washington’s PLS program, Save to Win, crowned another annual winner with a check for $5,000.

TwinStar Credit Union member Shawn Hinchen won the big prize. “It’s a little security for right now,” said Hinchen.

Hinchen said that his family was planning to pour new cement in their garage, and that this money will help them navigate any speed bumps in the project. “Whatever comes along we can say, yeah, we’ve got the money, let’s do it,” he said.

Hinchen’s big win wrapped up Save to Win’s second year in Washington, and the third year is off to the races with monthly, quarterly and annual prize winners being announced regularly.

Jared Dance, financial education specialist at TwinStar, said that their members appreciate Save to Win’s fun, no-lose way to save. “Our membership is catching on to the idea of, ‘Even if I don’t win, I still have a nest egg, but every time I save money I have a chance to win prizes.’ It’s a win-win.”

Save to Win allows members to open special savings accounts, and every time they make a qualifying deposit they are entered into a raffle for cash prizes. But win or lose the raffle, members keep every penny they saved, so everyone comes out a winner.

“Someone could lose their job or become ill,” said Dance. “By saving money it helps them to protect themselves from debt and stress, which keeps families and communities strong, too.”

All six participating credit unions awarded winners in the 2014-2015 program year. These credit unions include: Connection Credit Union, Express Credit Union, Fibre Federal, North Coast Credit Union, Peninsula Credit Union, and TwinStar Credit Union.

After winning, Hinchen said that he and his family were sold on Save to Win. “I know my mom and my brother and my family and my wife’s family have all said, well this is a good program, let’s go save!”

The credit unions of Oregon and Washington not only improve their members’ lives, they are foundational to the entire Northwest economy. Learn more here.

If your credit union is interested in joining the Save to Win program, contact NWCUA Program Manager Amanda Brenneman-Brown at 800.995.9064 x208, or abrenneman@nwcua.org.

Questions about this story? Contact James Pearson: 206.340.4790, jpearson@nwcua.org.

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