New York’s credit unions are joining credit unions from across the country this week in participating in America Saves Week and Military Saves Week. The weeklong initiatives encourage American consumers, members of the military and military family members to develop sound savings habits.

As a reminder, Lucky Savers, the statewide prize-linked saving program, allows members of participating credit unions to win money while they save. A Lucky Savers account is a 12-month share certificate with unlimited deposit capabilities, and members can open the account with a $25 deposit. For every $25 in month-over-month balance increases, accountholders earn one entry into the monthly and quarterly cash-prize drawings, including a quarterly grand prize of $5,000. Interest and account value caps are set by each participating credit union, with a maximum of 10 prize-drawing entries per member, per month.

Credit unions that are already participating in Lucky Savers are encouraged to use this week’s savings theme as an opportunity to remind members about the benefits of the program.

Credit unions that are not participating in Lucky Savers but have an interest in the program should visit the Association’s website, or contact program coordinator Chris Pajak at christopher.pajak@nycua.org or (800) 342-9834 ext. 8188.