<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=192888919167017&amp;ev=PageView&amp;noscript=1">
Monday, March 18, 2024
March 18, 2024

Linkedin Pinterest

Vancouver woman claims credit union prize

By , Columbian Business Editor
Published:

Karen Salado of Vancouver knows how to save money. She lives frugally, working to spend no more than $10 a day on food. She doesn’t gamble or buy lottery tickets.

And because Salado doesn’t use an ATM card but does her banking in person, she’s gotten to know employees at her financial institution, the TwinStar Credit Union near Westfield Vancouver mall, where she’s long had a business account.

So when a TwinStar employee informed Salado last month that a consortium of seven Washington credit unions offered a prize of up to $5,000 to those who open a new personal savings account, Salado was quick to sign up. A few weeks later, she learned that she was one of three winners in a statewide monthly drawing for the cash prize. She received the prize on Tuesday during a brief ceremony at TwinStar.

Salado, 58, says her hard work put her in a position to win the prize. “I won by saving that money,” said Salado, who owns and manages rental properties, and who makes costumes on the side. “I’ve been a saver all my life.”

Washington is one of four states that allows credit unions to offer what is called a “Save to Win” program, with drawings for cash prizes used as in incentive to open savings accounts. The Northwest Credit Union Association hopes to grow the program beyond the current seven participating members, including Lacey-based TwinStar. No Clark County-based credit unions have joined the program to date.

The program’s goal is to entice people to save more money. According to the Northwest Credit Union Association, 85 percent of those who opened accounts because of the program had not been previously been regular savers.

Loading...
Tags
 
Columbian Business Editor