In 2013 Save to Win, the nation’s first large-scale prize-linked savings product, expanded to include credit unions in Washington and North Carolina. It also entered its fifth year in Michigan and second in Nebraska. This brief contains full results and key highlights from Save to Win in 2013, including:
--The program continues to engage the target population: Across the states, 62-81% of account holders were financially vulnerable.
-- Overall, between 81-85% of participants rolled over their accounts between years.
-- Since the product was first offered in 2009, 50,000 account holders have collectively saved $94MM.
-- In 2013 average account balances ranged from $921-$2,662.