Educators Credit Union wants to help you save and win! Introducing the Saver’s Sweepstakes1 savings account. This new account is a prize-linked account that can enter you into a sweepstakes to win $100, $1,000 or $5,000!
We understand that saving money is a challenge. It can be very hard to get started and keep the habit going. With this new account, you could be rewarded for putting aside as little as $25 each month. Over time, this savings can build up and help establish better habits. It’s all a part of Educators mission to educate and advise our members.
1APY=Annual Percentage Yield. The rate may change after the account is opened. The rate is accurate as of August 1, 2019. There is no minimum deposit required to open a Saver’s Sweepstakes account. This sweepstakes is open to Wisconsin, Illinois and Minnesota residents only. Entries are tallied for the primary owner on the account. Fiduciary and business accounts are not eligible. Each individual — limited by social security number — can have a maximum of six entries per month, 18 entries per quarter and 72 entries per year in Educators Credit Union drawings. Entries are earned based on month-over-month increases in the Saver’s Sweepstakes account balance. Chances of winning are determined by the number of total entries per drawing. The drawings are conducted on a statewide basis. The account is subject to a $10 withdrawal penalty with your first and second withdrawal from the account. The account will be closed after your third withdrawal. The credit union waives the early withdrawal penalty in the first seven days after a Saver’s Sweepstakes account is opened. Fees could reduce earnings. Account withdrawal could impact your total number of entries. A closed account will result in the forfeiture of all sweepstakes entries.During any statement period, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer or telephonic order or instructions. Participants can make a penalty-free withdrawal from the account on the 12th month after the account is opened. Other restrictions may apply. This disclosure may be updated from time to time, and if it is updated, account holders will receive a notice of updated disclosure as well as the effective date of the updates as required by law.