SEATAC, Wash. (6/10/15)--No risk, but a huge reward went to a member of TwinStar CU, Lacey, Wash., recently, thanks to Washington’s prize-linked savings (PLS) program Save to Win.

For the simple act of putting away money into savings, Shawn Hinchen, TwinStar member, won a $5,000 grand prize (Anthem June 8).

The money, Hinchen told the Northwest Credit Union Association, will help his family complete a project to pour new cement in their garage.

“Whatever comes along we can say, ‘Yeah, we’ve got the money, let’s do it,’” he told Anthem.

In its third year, Save to Win in Washington has been a big success, awarding monthly, quarterly and annual prizes to those participating.

PLS programs such as Save to Win function by incentivizing members to save with the lure of the possibility of winning large cash prizes, as Hinchen did.

“Our membership is catching on to the idea of, ‘I can save money, and if I don’t win I still have a nest egg, but every time I save money I have a chance to win prizes.’ It’s a win-win,” said Jared Dance, community development manager, TwinStar CU.

Added Hinchen: “Us winning, I know my mom, and my brother, and my family, and my wife’s family, have said this is a good program, let’s go save.”

All six credit unions participating in the statewide program awarded their members with cash prizes during the 2014-15 program year.

The credit unions were TwinStar; Connection CU, Silverdale; Express CU, Seattle; Fibre FCU, Longview; North Coast CU, Bellingham; and Peninsula Community FCU, Shelton.