No. However, if the individual credit union chooses to impose a higher penalty or waive any fees, then this would be noted in their Truth and Savings Disclosure and/or Official Rules.
No. Save to Win is only available on personal accounts.
To participate in the program you will have to open a Save to Win account at a participating credit union. To find a participating credit union near you, click on play now at the top of this page and enter your location. Contact the credit union of your preference to inquire about membership requirements and information on how open a Save to Win savings account.
Save to Win is a special prize-linked savings account that incentivizes members with the chance to win prizes just for saving! The product is set up as a 12-month share certificate or certificate of deposit and requires an opening deposit of $25. Raffle prizes are selected through a random drawing process.
The goal of the Save to Win account is to foster a regular habit of saving among account holders. The more a person saves, the more chances they earn towards winning prizes. For every $25 saved in a Save to Win account, an account holder earns an entry into the monthly and quarterly prize drawings. Check with a participating credit union on full rules and prizes available.
Each credit union may vary in terms of how they open and fund accounts. Contact your credit union to see if this is an option for their Save to Win account.
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 10 entries maximum per month.
No. Each person is limited to one account. If a person opens multiple accounts at different credit unions, the account that was opened first will be the one that receives drawing entries.
Prize entries are awarded based on month-over-month balance increases. For every $25 in month-over-month balance increase, an account holder will receive an entry into the monthly and quarterly drawing up to a maximum of 10 entries for the month and 30 entries for the quarter.
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 an balance increase compared to the prior month, you will not get entries for that particular drawing period.
No. This account is only available to persons 18 years or older. Children may not be primary or joint account holders on a Save to Win account.
Credit union board members and staff are not eligible to receive prizes from the national, statewide or credit union drawings (this includes joint ownership) but may open accounts and win prizes from their credit union staff drawing, if offered.
Each credit union can make their own determination about board member and staff’s family members holding accounts (refer to your credit union’s Official Rules for details).
Account requirements vary by state and credit union. Please check with a participating credit union directly for specific information about Save to Win account requirements.
A member can win a national or statewide prize and a credit union prize in the same drawing period unless otherwise stipulated in their credit union’s Official Rules. An individual member can win multiple times throughout the year and in consecutive drawing periods.
Credit unions will deposit prize winnings into the members' regular savings account.
Winners that 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.
Actual odds of winning are based upon 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.
The Save to Win account offers monthly, quarterly, and in some states' annual prizes. Some credit unions offer additional member prizes (refer to your credit union’s Official Rules for details). Click Play Now at the top of the page to find a participating credit union near you.
Drawings & Rules
Winners will be notified via telephone, email or standard U.S.P.S. mail. Prizes are non-transferrable. Winners need not be present at the drawing to win.
National and state-wide drawings are held on the 14th of each month and quarterly 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).
You can pick them up at your credit union or download a PDF version from this website. Click on Play Now at the top of this page to find a participating credit union near you.
There is a $25 minimum balance requirement to keep the account open.
The Save to Win account is set up as a 12-month share-certificate. You can close your account at any time, but penalties for account closure may apply. In order to be eligible for the current drawing period, your account must be open through the last day of the month.
Yes. Account holders are permitted to make one withdrawal during the 12-month certificate term for a $25 fee, or as determined by each credit union (refer to your credit union’s Official Rules for details). If a second withdrawal occurs, the account will be closed.
Yes. The Save to Win accounts are set up by your credit union to automatically rollover to a new 12-month term at maturity. However, you can make withdrawals or close your account during your grace period, penalty free.
Some credit unions have a 6-month waiting period for account holders to open a new account after account closure (refer to your credit union’s Official Rules for details).