Save to Win: Washington 2013

Categories: GamificationPrize-Linked Savings

Save to Win launched in Washington in April 2013 and finished its first full program year in March 2014. This paper contains key highlights and findings from the product's first year in the state, including: 1) 950 accounts opened in the first year; 2) 61% of surveyed accountholders were non-regular savers before opening a Save to Win accounts; 3) 81% of surveyed accountholders were financially vulnerable. 4) 59% of account holders had not previously used a CD account before participating in Save to Win.