During these challenging times, it pays to have an emergency fund. For two Park City members, Adam C. and Kurt S., not only did their money stretch in a savings account, they were winners of the Saver’s Sweepstakes® statewide drawing. These members are participants in special deposit accounts that pay them dividends while automatically entering them in monthly, quarterly and annual cash prize drawings. Each won $100 in the recent monthly drawing.
Members earn entries into the sweepstakes for every $25 saved each month. They can receive up to six entries monthly. These entries are applied to $100 monthly drawings, $1,000 quarterly drawings and a $5,000 yearly grand prize drawing.
“We’ve had many winners come to us and say, ‘I never win anything,’ and are shocked with their winnings,” said Park City CEO Val Mindak. “It’s incredibly exciting for them that all they have to do is put a little into savings each month and they can win!”
According to a study by the Center for Retirement Research, just over four in 10 households have the funds to cover a $400 expense. Giving people the chance to win a monthly prize motivates participants to continue regular savings.