MADISON, Wis. Credit unions are being urged to reach out to members for a new national savings lottery, SafeYourRefund Sweepstakes, which will reward one tax saver with a $25,000 grand prize.
The new sweepstakes, designed by Boston-based D2D Fund, which developed the concept of prize-based savings, will enable all tax filers over 18 who deposit at least $50 of their tax refund into a qualified U.S. Savings Bond, a credit union or bank savings account, CD or IRA, TreasuryDirect, or a prepaid card to be eligible for 40 weekly prizes of $250 each or the $25,000 grand prize. The more deposits a member makes, the more chances to participate in the contest. Credit unions can benefit by building new accounts linked to the sweepstakes.
The Filene Research Institute, which partnered on prize-based savings for credit unions with D2D, is holding a webinar Friday to explain how credit unions and their members can participate.
The Save Your Refund Sweepstakes began February 1 and ends on Tax Day, April 15. During the Sweepstakes, there will be ten weekly drawings.
The Grand Prize drawing will occur on Friday, April 19.
