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Save Smarter: Why WinCentive and Club Accounts Are Game-Changers

Save Smarter: Why WinCentive and Club Accounts Are Game-Changers

Saving money doesn’t have to feel like a chore or mean giving up on fun. At First Alliance Credit Union, we believe in turning your savings goals into an exciting journey. Let’s explore how WINcentive® Savings and Club Savings Accounts can make saving not only achievable but enjoyable.

What Is a WINcentive® Savings Account and How Does It Work?

FA1024_Save Smarter - Why WINcentive - A man excited about news on his phone

Imagine saving money while having the chance to win cash prizes every month, quarter, and year. That’s exactly what a WINcentive® Savings Account offers. It’s a prize-linked savings account designed to reward you for building consistent savings habits.

Here’s how it works:

  • For every $25 increase in your month-over-month balance, you earn an entry into prize drawings.
  • Prizes include $100 monthly, $1,000 quarterly, and even a $5,000 grand prize annually.
  • There are no service fees, and you can start with just $5.

For young savers or those needing a fresh start, this account transforms saving into a game. You might not win every drawing, but you always come out ahead with more savings than you started.

Why Club Savings Accounts Are Perfect for Your Goals

Save Smarter - Why WINcentive - A man excitedly looking at his phone

Club Savings Accounts are like personal piggy banks tailored to specific goals. Whether it’s a dream vacation, holiday shopping, or back-to-school expenses, these accounts help you save gradually throughout the year.

Here’s how they work:

  1. You set up a savings goal and make regular deposits.
  2. On a predetermined date, the account transfers your balance to your checking or savings account, just in time for your goal.

The beauty of club accounts is their simplicity and focus. By separating savings for specific goals, you avoid the temptation of spending it elsewhere.

Meet Alex: A Real-Life WINcentive® and Club Savings Success Story

Alex, a 22-year-old from Rochester, Minnesota, dreamed of visiting Lima, Peru, for Christmas. He estimated the trip would cost $600, so he visited First Alliance Credit Union for help.

Using the Vacation Worksheet, Alex realized the actual cost, including airfare, Airbnb, Ubers, food (and a little Pisco sour) , was closer to $1,200. At first, he felt overwhelmed, but his advisor introduced him to a zero-based budget strategy.

They discovered Alex could save $150 a month by cutting back on dining out and unnecessary subscriptions. Together, they created a savings plan:

  • $100 a month into a Vacation Club Account for his trip.

  • $50 a month into a WINcentive® Savings Account.

Here’s what happened:

  • Alex won a $100 prize from his WINcentive® account, adding to his travel fund.

  • By December, Alex had $1,300 saved—enough for his trip and some extra spending money!

Alex’s trip to Peru was unforgettable, and he loved how First Alliance Credit Union focused on helping him achieve his goals without pushing unnecessary products.

Create you Vacation Budget today!

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The Benefits of Combining WINcentive® and Club Accounts

Save Smarter - Why WINcentive - A woman excited about winning money

Both accounts offer unique advantages, but using them together amplifies your savings journey.

  1. For Specific Goals: Club Savings Accounts keep you disciplined and ensure your money is ready when needed.

  2. For Extra Rewards: WINcentive® adds excitement by giving you the chance to win cash prizes just for saving.

By combining the two, you can achieve your goals faster and enjoy the thrill of potentially winning additional funds along the way.

Frequently Asked Questions

  1. Can I earn rewards or prizes with a WINcentive® Savings Account?
    Yes! Every $25 increase in your balance earns an entry into monthly, quarterly, and annual prize drawings.

  2. Are there fees or requirements for these accounts?
    Both accounts are fee-free at First Alliance Credit Union. The only requirement is maintaining a $5 balance for  WINcentive® .

  3. How are these accounts different from regular savings accounts?
     WINcentive® Savings focuses on rewarding consistent saving with prizes, while Club Accounts help you save for specific goals with automated transfers.

  4. What happens if I need to withdraw money early from a Club Account?
    Early withdrawals may come with penalties, so it’s best to plan carefully.

  5. Who can open these accounts?
    Anyone meeting First Alliance Credit Union’s membership requirements can open these accounts.

First Alliance: Supporting Your Journey Every Step of the Way

At First Alliance Credit Union, we live by our mission:

  • We show up. We’re here to listen to your financial dreams and challenges.
  • We listen. We understand your unique situation and tailor solutions to fit your needs.
  • We provide possibilities. Whether it’s a trip to Peru or saving for the holidays, we help turn your goals into reality.

Our vision—a financial oasis where everyone has access to possibilities—drives everything we do. With values of passion, persistence, and presence, we’re here to help you save smarter and dream bigger.

Ready to make saving fun and rewarding? Open a WINcentive® or Club Savings Account today and experience the difference!

Have questions about WINcentive® and Club Savings accounts? Ask us!

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