WINcentive Savings

Prize linked savings account that offers members a chance to win cash prizes just by depositing and saving money. This savings account was approved in compliance with Minnesota state law as of May 2015, and only Minnesota-headquartered credit unions are permitted to offer these accounts.

Participating credit unions contribute funds to the prize pool, with the contribution based on asset size. As this program grows, more credit unions are expected to participate; therefore the prize pool should continue to grow allowing for larger prizes in the coming years. Financial One is very proud to be a part of the initial account offering!

  • $5.00 minimum deposit to open, must be retained as long as the account is open
  • No cost or monthly fee to have the account
  • Minors are eligible to participate as long as there is one account holder who is 18 years of age or older
  • FOCU employees and their family members are eligible to participate
  • One WINcentive account per person per participating credit union
  • Unlimited number of deposits allowed
  • Every $25 increase to savings balance during each calendar month earns one entry into a monthly, quarterly and annual drawing through the Minnesota Credit Union Network (MNCUN), with a maximum of 4 entries per month per account
  • Every $25 increase to savings balance during each calendar month also earns one entry into a monthly drawing through Financial One, also with a maximum of 4 entries per month per account
  • Account holders may win more than one prize category within the same year
  • Winners will be responsible for reporting and paying applicable state and federal taxes on prizes awarded
  • Account is subject to withdrawal fees if funds are withdrawn during the 12 month savings period
  • Drawings are held on or about the 10th day of each month for the previous month and/or quarter
  • Account holders are only eligible to win once per pool, i.e. if their account is drawn twice for the monthly drawing they will only win one prize and another participant will be drawn
  • Account must be open and active during drawing period to participate
  • Winners are chosen from qualified entries via an automated process through MnIPC

Prize winnings can be either deposited into the members regular share account or given as a cash reward, according to the member's request.

Prizes drawn for the MNCUN from entries from all participating credit unions:

  • Monthly – 50 winners, $100.00 prize each
  • Quarterly – 5 winners, $1000.00 prize each
  • Annually – 1 winner, $5000.00 prize

Prizes drawn for Financial One (applicable only to FOCU members)

  • Monthly – 3 winners, $50.00 prize each
Requirements to Participate
  • Must be a resident of Minnesota (if a member lives out of state at the time of the drawing they will become ineligible due to state laws)
  • Must be in good standing with the credit union
  • Business and trust accounts, or other non-consumer accounts, are not eligible
  • Financial One board members are ineligible
  • Must execute a participation agreement with the credit union, this agreement is an additional document required upon opening the account
Withdrawal Limits
  • First withdrawal (non-closure) from account will incur a $10.00 fee
  • Second withdrawal (non-closure) from account will incur a $25.00 fee
  • Third withdrawal will require account closure, no fee will be assessed
  • Full voluntary closure and withdrawal of all monies will not incur a fee
  • If an account is closed, member is ineligible to open another WINcentive account at the same credit union for 90 days and all entries earned to that point are forfeited
  • After 12 months of saving, member is permitted to make a one penalty-free withdrawal from the account for a period of 30 days after the anniversary date