BCU Incentivizes New Savings Behavior
October 8, 2021
Vernon Hills – BCU’s purpose is to empower people to discover financial freedom. The Credit Union is able to help fulfill this passion by providing products, caring support and services that their members value, including financial well-being tools. With that top of mind, BCU recently announced the winners of its “Race to $150 Savings Challenge,” who were each rewarded for practicing new savings behavior.
Partnering with SaverLife®, BCU launched the challenge as an incentive to help its members save. Between the eight-week period from July 12 to September 3, 2021, members who saved at least $150 in their savings account were automatically entered to win one of three prize amounts. Over 2,200 members signed up and in total, 35 lucky winners were chosen.
Adriana D. was randomly selected as the grand prize winner of $1,500. The 10 first prize winners, who each won a full match of $150, were Gaelle G., Tossana R., Marija S., Denise G., Keegan S., Natalie S., Severine V., Lawrence M., Raylene H., and Charlotte M. There were also 25 second prize winners, who each won $25.
To participate, members linked their savings account to SaverLife, a nonprofit that incentivizes and gamifies savings to help encourage lifelong savings habits. SaverLife monitored the progress of everyone who entered.
“It's exciting to see that nearly half of our participants reached the $150 savings goal,” said Bjorn Larson, Senior Strategist, Financial Well-Being. “We hope this challenge provided just the right nudge for our participants to continue these savings habits for the long run.”
About BCU: BCU is a purpose-driven organization that empowers people to discover financial freedom. With over $4.9B in assets, while being both not-for-profit and member-owned, the Credit Union is driven by the commitment to provide extraordinary service. BCU members enjoy access to financial services and well-being programming that inspire confidence through the brand promise “Here Today For Your Tomorrow”. Lifetime membership is offered to employees and families of America’s best workplaces and those living or working in Chicago-area communities. To learn more about BCU, visit BCU.org.