Prize-Linked Savings Prize-Linked Savings

Prize-Linked Savings is an application of the use of prizes to address the financial challenge of savings

Prize-Linked Savings (PLS) transforms savings into a fun, exciting experience by giving savers the chance to win monthly, quarterly, and annual prizes by depositing into their PLS account.

PLS models have been successful internationally, and seeing the opportunity to introduce it in the US, we forged partnerships with a group of Michigan credit unions to create a large-scale PLS pilot – Save to Win – in 2009. Since then, more PLS products have launched at banks and credit unions across the country - such as WINcentive Savings and Lucky Savers - as well as on prepaid cards through Prize Savings in partnership with Walmart and Green Dot Bank.

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Solutions

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