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One Lucky Neighborhood CU Member to Start 2017 with $50k in Savings
Wednesday, January 4, 2017 6:50 AM

For the ninth straight year, Neighborhood Credit Union will be surprising one of its members with a grand prize to reward their good savings habits. But this year, Neighborhood Credit Union is nearly doubling the grand prize to $49,999.99.

Dallas-based Neighborhood Credit Union drew the name of a Prize Savings Account holder on Jan. 1 for the grand prize and will personally deliver news of the prize to the lucky winner today, Jan. 4. Prize winner will receive an oversized symbolic check, while the actual funds are deposited directly into the winner’s Prize Savings Account.

In 2007, Neighborhood Credit Union developed the Prize Savings Account as a first-of-its-kind approach to reversing the lowest savings rate in U.S. history. They created the innovative account as a fun way to encourage people to save money, offering prizes and rewards so people could see in tangible ways how good savings habits can pay off while they earn market-rate interest on their savings.

How it works: Neighborhood Credit Union members receive one drawing entry for every $25 monthly average balance in their Prize Savings Accounts. The greater the savings, the greater the chance a member has of winning. Members are eligible for monthly $1,000 drawings and quarterly $10,000 drawings. At the start of each year, a winner is drawn for the newly-increased $49,999.99 grand prize based on the average monthly balance in the savings account at close of business Dec. 31. The Prize Savings Account also pays market-rate interest on any amount in savings throughout the year.

About Neighborhood Credit Union
The oldest credit union in Dallas (chartered April 18, 1930), Neighborhood Credit Union is a not-for-profit financial organization serving Dallas, Denton and Ellis counties, as well as the cities of Arlington and Midland. With branches in Dallas, Richardson, Arlington, Mesquite, Duncanville, Waxahachie, Lancaster, Grand Prairie, Coppell, Midland (and soon in Highland Village) and assets topping $590 million, Neighborhood Credit Union has a membership of 47,000 and continues to welcome new members daily. For more information, call 214-748-9393 or visit www.myncu.com.