Product Spotlight: Neighborhood Credit Union’s Prize- Linked Savings Account

Product Spotlight: Neighborhood Credit Union’s Prize- Linked Savings Account

For over a decade, Neighborhood Credit Union in Dallas, Texas has offered a unique sweepstakesbased prize-linked savings (PLS) product called Prize Savings. This PLS product provides an example of how individual financial institutions can independently launch and manage innovative savings products that benefit their business while exciting customers and helping them build their financial security. Neighborhood CU shared some key insights and learnings from ten successful years of operating a PLS product, which we highlight below.

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