Prize-linked savings account

Fidelity Study Reveals Nearly Two in Three Young Adults Feel They Should Save More, But Are So Stressed About Their Finances – They Avoid Thinking About Them Altogether

Retrieved on: 
Tuesday, June 14, 2022

More than three in four (76%) believe that to save money they must cut back spending on things that make them happy.

Key Points: 
  • More than three in four (76%) believe that to save money they must cut back spending on things that make them happy.
  • The new Fidelity Bloom app is grounded in the insight that positive reinforcement works best in new habit formation, particularly when there is anxiety involved.
  • Based on behavioral science, Fidelity Bloom creates incentives for anyone to establish healthier financial habits.
  • The study reveals nearly two in three adults (65%), ages 18 to 44, feel they should be saving more money, but the thought of finances is too stressful, so they simply avoid thinking about the subject altogether.

Laurel Road Attracts New Customers with Tailored Products for Healthcare Professionals

Retrieved on: 
Tuesday, June 7, 2022

NEW YORK, June 7, 2022 /PRNewswire/ -- Laurel Road, a digital platform of KeyBank with specialized offerings for healthcare and business professionals, is continuing its evolution, expanding its digital offerings for healthcare professionals, and engaging in new strategic partnerships. Under the umbrella of KeyBank, which acquired the company in 2019, Laurel Road has taken a targeted approach to healthcare audiences while holding true to its digital principles.

Key Points: 
  • Laurel Road continues to see significant interest in its healthcare strategy, focusing on products tailored to physicians and dentists.
  • Three years post-acquisition, healthcare remains a focus for both Laurel Road and KeyBank, as Laurel Road continues enhancing and expanding its product set to better serve its business and healthcare professional audiences.
  • To learn more about Laurel Road Checking, Laurel Road for Doctors or any of its growing digital banking offerings, visit laurelroad.com.
  • Laurel Road is a digital banking platform and brand of KeyBank that provides tailored offerings to support the financial wellbeing of healthcare and business professionals.

Aspiration Launches Up To 5.00% APY Interest Rate on Fossil Fuel Free Deposits to Mark National Savings Day and This Month’s UN Climate Conference

Retrieved on: 
Tuesday, October 12, 2021

Standard Spend & Save account holders will receive a 3.00% APY interest rate 50 times higher than the national average.

Key Points: 
  • Standard Spend & Save account holders will receive a 3.00% APY interest rate 50 times higher than the national average.
  • The interest rates are current as of October 12, 2021 and are subject to change at any time.
  • The Save Money, Save the Planet offering is also being introduced to mark this months COP 26 UN Climate Conference.
  • The deposits that Americans keep in their traditional bank checking and savings accounts are one of the primary drivers of the climate crisis.

Advance America: How to Build an Emergency Fund

Retrieved on: 
Monday, July 12, 2021

This can help savers reach their goals faster and even earn a bit of cash on their emergency savings.

Key Points: 
  • This can help savers reach their goals faster and even earn a bit of cash on their emergency savings.
  • People should open this account separate from their regular savings account to reduce the temptation to spend out of the emergency fund.
  • The saver could have the monthly goal amount deposited automatically to their emergency fund account, making saving more effortless.
  • Building an emergency fund can take some time, especially for people with little discretionary income each month.

Yotta Rewards Smart Financial Habits with a Chance to Win $10M to Encourage More Americans to Save

Retrieved on: 
Thursday, January 28, 2021

Users can select their own numbers for drawings or let the Yotta app randomly select numbers on their behalf.

Key Points: 
  • Users can select their own numbers for drawings or let the Yotta app randomly select numbers on their behalf.
  • Yotta users all stand to win the $10M jackpot prize, with more frequent, smaller-sum rewards also available.
  • New Zealand and South Africa have similar programs, and Moelis and Doyle believe Americans can improve their financial situations by using Yottas prize-linked savings account.
  • Savings accounts have worked the same, boring way for decades, said Adam Moelis, CEO and co-founder of Yotta.

Billinero Prize-Linked Savings Account Entices Users with Payout

Retrieved on: 
Tuesday, November 10, 2020

CHICAGOLAND -- Billinero, an app-based savings account powered by Centier Bank, launched in 2019 introducing the concept of a digital prize-linked savings account to users across the country.

Key Points: 
  • CHICAGOLAND -- Billinero, an app-based savings account powered by Centier Bank, launched in 2019 introducing the concept of a digital prize-linked savings account to users across the country.
  • Chris Campbell, Executive Vice President of Billinero and Vice President at Centier Bank, said the concept of prize-linked savings accounts became popular in 2014 with the introduction of the American Savings Promotion Act .
  • There was a lot of success in the concept of prize-linked savings accounts at credit unionsboth in the U.S. and abroad, explained Campbell.
  • We hope to continue to pave the way for unique savings methods with Billinero, so users can earn chances to win $1,000 in our monthly drawings and $10,000 in quarterly drawings, Campbell said.

Billinero Savings App to Award $10,000 in Sept. 30 Drawing

Retrieved on: 
Wednesday, September 16, 2020

Chicagoland, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Billinero , a prize-linked savings account app, is pleased to announce that its next quarterly $10,000 drawing is being held on Sept. 30, 2020.

Key Points: 
  • Chicagoland, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Billinero , a prize-linked savings account app, is pleased to announce that its next quarterly $10,000 drawing is being held on Sept. 30, 2020.
  • Billinero launched one year ago, introducing the concept of a prize-linked savings account, explained Chris Campbell, Billinero Executive Vice President.
  • Users can download the app from the App or Google Play stores and open their Billinero savings account in minutes.
  • Users can sign up for their Billinero savings account on the mobile app or online.

BILLINERO SAVINGS APP HELPS AMERICANS SAVE MONEY WHILE AWARDING CASH PRIZES

Retrieved on: 
Monday, July 13, 2020

Chicagoland, July 13, 2020 (GLOBE NEWSWIRE) -- Billinero, an app-based savings account, was recently launched to motivate Americans to develop good savings habits because it includes an added incentive of winning cash prizes.

Key Points: 
  • Chicagoland, July 13, 2020 (GLOBE NEWSWIRE) -- Billinero, an app-based savings account, was recently launched to motivate Americans to develop good savings habits because it includes an added incentive of winning cash prizes.
  • Its been rewarding to see peoples lives change as a result of using their Billinero accounts to save for the chance to win cash prizes.
  • In addition to its winners, Billinero has also helped many Americans build a nest egg they may not have had otherwise, by enticing them to save for the chance to win cash.
  • Billinero users earn a chance to win cash with each qualifying deposit into their Billinero account which creates an entry into the cash drawings.

Lucky Neighborhood Credit Union Member in Lake Highlands Starts 2020 with a Nearly $50K Surprise in His Account to Reward His Good Savings Habits

Retrieved on: 
Monday, January 20, 2020

Kissinger's name was drawn on New Year's Day from all the credit union's Prize Savings Account holders.

Key Points: 
  • Kissinger's name was drawn on New Year's Day from all the credit union's Prize Savings Account holders.
  • Since 2007, Neighborhood Credit Union has offered the Prize Savings Account as an innovative approach to help reverse the low savings rate across the nation.
  • Kissinger has been a member of Neighborhood Credit Union for decades, dating back to the 1940s when his father joined what was then the Dallas Postal Credit Union.
  • How the Prize Savings Account works: Neighborhood Credit Union members receive one drawing entry for every $25 monthly average balance in their Prize Savings Accounts.

Credit Union Awards California's First $10,000 Prize to Saver

Retrieved on: 
Monday, April 29, 2019

Cynthia is the winner of the biggest cash prize to date under the saving program, which awards $1,000 prizes every month, $10,000 prizes every quarter, and an annual $50,000 grand prize.

Key Points: 
  • Cynthia is the winner of the biggest cash prize to date under the saving program, which awards $1,000 prizes every month, $10,000 prizes every quarter, and an annual $50,000 grand prize.
  • Big Prize Savings works like any other savings account, except Big Prize Savings accountholders entries into the monthly drawing based on their account balances, and the account has no fees.
  • "The service American First Credit Union gives me is just like being a part of their family.
  • Since 1952, American First Credit Union has been keen on a "people helping people" credit union philosophy.