Consumer Demand for Prize-Linked Savings: A Preliminary Analysis

Consumer Demand for Prize-Linked Savings: A Preliminary Analysis

This paper reports on a small-scale survey of the potential American demand for prize-linked savings accounts, an account that awards prizes as part of the saving product's return. In October 2006, Centra Credit Union launched a prize-linked savings pilot. As part of that initiative, we conducted a mall intercept survey of over 500 people in Clarksville, Indiana, the community where the program was launched. This preliminary data suggests that low-to-moderate income Americans may have substantial demand for prize-linked savings, with a majority of survey participants expressing an interest in opening a prize-linked savings account.

Get this Publication
Please help us reduce spam by entering the characters pictured below.
Challenges

Related Challenge

Solutions

Related Solution

Projects

Related Project