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Save to Win FAQs

Helpful answers to some common questions

Browse here and connect with us with any additional questions or if you need clarification on anything - we're happy to help.

Q: What kind of account is the Save to Win account?

A: Save to Win is a prize-linked savings share certificate account that offers the chance to win prizes in addition to earning regular interest. It requires a small opening deposit of $25 and allows members to make regular deposits to gain entries into the drawings.

Q: How does the Save to Win account work?

A: The goal of the Save to Win account is to foster a regular habit of saving among account holders. The more one saves (up to $250 per month); the more opportunity one has to win. For every $25 deposit, an account holder earns one entry into the monthly and quarterly prize drawings. There is no minimum number of deposits required, but there is a maximum of 10 entries per month/30 entries per quarter per member.

Q: How can members sign up for a Save to Win account?

A: Account holders must be a member of a participating credit union. To search for participating credit unions near you, use the credit union finder at the top of the Save to Win web page and select the drop-down for your state and the county near you.

Q: What are the requirements to open an account and win prizes?

A: In order to participate in the raffle and be eligible to win prizes, your account must be open through the drawing period, you must be 18 years or older and be an Oregon resident and be a member with a regular share account (the account which qualifies the individual for membership), in good standing in the credit union.

Q: Can a child open an account or be joint on the account?

A: No. The rules state that the account is available only to members age 18 or older. Children may not be primary or joint account holders on a Save to Win account.

Q: Are credit union board members, employees and/or their family members eligible to win prizes?

A: Credit union employees and board members are not eligible to receive any drawing prizes.

Q: Can a member have more than one Save to Win account?

A: No. A member is limited to one account, per person, per participating credit unions. If a member opened an account at more than one participating credit union, the account that was opened first will be the only one that they receive drawing entries for. Members of the same household can each have one Save to Win account each, as long as they meet other eligibility requirements.

Q: What is the minimum balance required to be kept in the Save to Win account?

A: There is a $25 minimum balance requirement to keep the account open.

Q: Is there a monthly service fee for the account?

A: No, there are no monthly service fees for this account.

Q: Does the account need to be kept open a certain amount of time?

A: Yes. The Save to Win account needs to be kept open for 12 months. There are penalties for early withdrawal, including account closure.

Q: Can an account holder make any withdrawals during the 12-month term?

A: Yes. Account holders are permitted to make one withdrawal during the 12-month certificate term for a $25 fee and must leave at least $25 in the account to keep it open. If a second withdrawal occurs, the account will be closed.

Q: Is there any other additional interest penalty on top of the $25 withdrawal fee?

A: No.

Q: Does the account need to be kept open for a certain amount of time before it's eligible to win?

A: Accounts must be kept open through the drawing period in order for account holders to be eligible for prizes. For ex: the drawings are performed on the 14th day of each month for the previous month's transactions. In order to be eligible for the current drawing, your account must be open through the last day of the previous month.

Q: Can a Save to Win account be opened on a business or trust account?

A: No. Save to Win is only available for personal accounts.

Q: Can I open a Save to Win account online?

A: No. Requests to open an account can be made in person, via phone, email or other electronic means. Contact a Member Relationship Specialist at 503.275.0300 option 3 or email info@usacu.org.

Q: What kinds of prizes does the account offer?

A: The Save to Win share certificate offers account holders the opportunity to win monthly and quarterly cash prizes from the central, Oregon state, and USACU drawings. Click here for a complete list of central and state prizes.

Q: Can a member win a central prize and a credit union prize in the same month?

A: No. If a member wins a central or a state prize, they cannot win the credit union prize. An individual member can win in multiple months/quarters and even in consecutive months/quarters.

Q: How will prizes be awarded to members? How will winners be notified that they have won?

A: Prize winnings will be deposited into the member regular share account. Winners will be notified by the 20th of the month following the drawing.

Q: Will members be taxed on their winnings?

A: Yes, each winner is responsible for reporting and paying applicable state and federal taxes for monthly and quarterly prizes. Credit unions are required to send a 1099 form to any member who wins an amount over $10.

Q: How are prize entries calculated?

A: Members will receive one entry in the monthly drawing for every $25 increase in month over month balance, up to a maximum of 10 entries per month. Each monthly entry is also entered into the quarterly prize drawing, up to a maximum of 30 entries per quarter.

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