Montana’s Credit Unions has partnered with the Minnesota Credit Union Network to bring the WINcentive Savings to Montana.
Saving money can be hard, but WINcentive makes it easier — and fun — by incentivizing consumers to save. WINcentive Savings offers prize drawing entries each time a WINcentive member increases their savings balance by $25 (up to four entries per month).
Since 2019, more than 1,000 Montana WINcentive accounts have been opened, generating nearly $805,000 in savings and awarding $128,300 in prizes to 375 Montana credit union members.
The Program in Montana
The Montana WINcentive prize drawings occur monthly, quarterly, and annually — so the more WINcentive members save, the more chances they have to win; Savers could even end up winning the Montana grand prize of $5,000. In addition, credit unions have the option of offering credit union-specific drawings to ensure they have a winner at their credit union on a monthly, quarterly, and/or annual basis.
What’s Included
WINcentive is an out-of-the-box, fully branded, and easy-to-implement savings program. Participating CUs will receive implementation and best practice information, training for frontline staff, a marketing toolkit, and compliance documents. All resources have been developed to be customizable to your credit union and membership, including:
- A marketing toolkit, including a trademarked product name and logo
- A consumer-facing website for members to learn about credit unions and how to participate in a WINcentive Savings account
- Compliance templates for truth in savings disclosure, a member participation agreement, and WINcentive Savings account policy
The following credit unions in Montana are currently participating in the program — and we continue to seek new credit unions to join:
- Billings FCU
- Montana CU
- Park Side CU
- Ravalli County CU
- Russell Country FCU
- Sky FCU
WINcentive Funding & Prize Pool Overview
Each of the participating Montana credit unions contributes toward the statewide prize pool. Their contribution is based on their membership at $0.19/member. Based on current credit union participation in the Montana WINcentive program, below is the current prize pool distribution. As we add credit unions, the amount we have for statewide drawings also increases.
- Each Month: four drawings at $100/each
- Each Quarter: three drawings: two at $500/each; one at $250
- Each Year: one at $5,000; one at $2,500; one at $1,000
