Making saving money fun!
WinCentive™ Savings Account
Who doesn’t like to win, especially cold, hard cash? Cities Credit Union is launching a new savings product in 2016--the WinCentive™ savings account. This new account was created to get members saving.
The WinCentive™ account offers a higher rate than our share savings account. It works much like an old-fashioned holiday club account in which you commit to save for a 12- month period with no cash withdrawals. As a reward for saving, you have the opportunity to win cash prizes on top of what you earn in the savings account!
How does it work? To set up a WinCentive™ account with the credit union, you need a minimum opening deposit of $5. For every $25 you deposit (per month), you are entered into a state-wide cash drawing with other participating Minnesota credit unions for a chance to win $100 (50 prizes drawn each month). Your account may be entered up to four times per month.
There will also be quarterly drawings for $1,000 prizes and a drawing at at the end of the year for one $5,000 prize. In addition, Cities will also be rewarding one member (at random) $25 each month.
- Fees will be incurred for early withdrawals before the 12-month period expires.
- You may withdraw funds twice during the period (and incur fees). The third withdrawal within the 12-month period will result in account closure.
- Prizewinners are drawn at random by the program’s administrator, the Minnesota Credit Union Network.
- Account holder must be a Minnesota resident to qualify.
- Kids under 18 are eligible for WinCentive™ account with a parent/guardian.
- Prizes will automatically be deposited into the share savings account.
- At the 12 month anniversary date from account opening, you may make one penalty-free withdrawal from the account for a period of 30 days after such anniversary date
For more information and program details, visit the Minnesota Credit Union Network WinCentive™ site.