This post is sponsored by American First Credit Union. All opinions are our own.
Welcome back to our Summer Savings Challenge! Yesterday we dove into all of the ways you can find to trim your budget and how to make saving a priority. Today we’re back with big, HUGE news about how you can get rewarded by your savings account!
You already know that we think that saving should be a priority. But did you know that 40% of Americans don’t have even a $400 emergency fund in the bank, per a recent study by the Federal Reserve? If that’s you, you’re very much not alone! We talked about all of the ways to find money to add to your savings account yesterday. We even talked about how to make your good intentions a reality. (We all know what it’s like to accidentally spend the money we had planned on saving.)
Today we are giving you one more reason to start – or continue! – adding to that savings account. Introducing the Big Prize Savings account from American First Credit Union. In a nutshell, opening a Big Prize Savings account will reward you with chances to win up to $50,000. Yep, you heard us right.
In addition to the sense of security and accomplishment that you will feel as you start building up your savings, you have this very unique opportunity to be rewarded with chances to win more money to put toward your savings goals!
How do I earn chances to win with a Big Prize Savings Account?
Here are the official rules from American First Credit Union:
To be eligible for prize drawings, you must maintain an average monthly daily balance of $500 for the month. Eligible accounts will receive unlimited automatic entries if Big Prize Savings account average monthly daily balance is $500 or greater. Every $25 in average monthly daily balance at each month-end receives one (1) entry.
What are the prizes in the Big Prize Savings Account?
If you meet the balance requirements, you are entered into a chance to win $1,000 monthly, $10,000 quarterly and the annual grand prize of $50,000. Every $25 in average monthly daily balance at month end earns one ticket, so as you continue to grow your savings, you earn even more chances to win. You can meet the recent winners right here! You do not need to do anything extra in order to enter. Your entries are automatically generated. You just need to set your savings goal and start saving!
How do I open a Big Prize Savings Account?
Remember our friends over at American First Credit Union? They would be happy to help you open an account. You simply need $25 to start. In addition, you must live, work or worship in Orange County or surrounding cities. There are no fees associated with the Big Prize Savings Account and all accounts are fully (and federally) insured by NCUA.
Our goal throughout this challenge has been to meet you where you are. That’s why we’re not asking you to start your savings account with a huge deposit. We think you should start at a place that is manageable for you, and then stay consistent.
What am I waiting for?
Great question! What are you waiting for? If there’s still something holding you back from setting a goal and working toward it, we would love to chat about it! Join us in our Long Story Shorties Facebook Group where we would love to chat all things budgeting!