HOLIDAY CLOSING: Kinetic will be closed on Monday, October 10 for the Columbus Day holiday. Mobile banking, home banking, as well as local and nationwide ATMs are available for member convenience.
Open a Save to Win account for a chance to win monthly and quarterly prizes. This 12-month certificate savings account will not only help you save big but gives you a chance to win big too.
14th of each month
January 31st 2022
View a list of national prizes and drawing information
Q: What kind of account is the Save to Win account?
A: Save to Win is a prize-linked savings account that offers the chance to win prizes in addition to earning regular interest. It requires a small opening deposit of $25 and allows unlimited number of deposits during the 12-month share certificate term; unless your credit union chooses to cap the deposits on the account (refer to your credit union’s Official Rules for details).
Q: How does the Save to Win account work?
A: The goal of the Save to Win account is to foster a regular habit of saving among account holders. The more one saves (up to $250 per month); the more opportunity one has to win. For every $25 deposit, an account holder earns one entry into the monthly and quarterly prize drawings. There is no minimum number of deposits required, but there is a maximum of 10 entries per month/30 entries per quarter per member.
Q: How can members sign up for a Save to Win account?
A: Account holders must be a member of a participating credit union. To search for participating credit unions near you, use the credit union finder at the top of the Save to Win website and select the dropdown for your state and a credit union near you.
Q: What are the requirements to open an account and win prizes?
A: In order to participate in the raffle and be eligible to win prizes, your account must be open through the drawing period and all participants must be at least of sufficient age to enter into a binding contract (18 in most states), a resident of a state in which the principal place of business of one or more participating credit unions is located and be a member with a regular share account (the account which qualifies the individual for membership), in good standing in the participating credit union.
Q: Can a child open an account or be joint on the account?
A: No. The rules state that the account is available only to members age 18 or older. Children may not be primary or joint account holders on a Save to Win account.
Q: Are credit union board members, employees and/or their family members eligible to win prizes?
A: Credit union employees and board members are not eligible to receive prizes from the national, statewide or credit union drawings (this includes joint ownership). Employees can open accounts and participate if their credit union offers an optional credit union staff drawing. Each credit union can make their own determination about family members having Save to Win accounts (refer to your credit union’s Official Rules for details).
Q: Can a member have more than one Save to Win account?
A: No. A member is limited to one account per person. If a member opened an account at more than one particapting credit union, the account that was opened first will be the one that the member receives drawing entries for. Members of the same household can each have one Save to Win account each, as long as they meet other eligibility requirements.
Q: What is the minimum balance required to be kept in the Save to Win account?
A: There is a $25 minimum balance requirement to keep the account open.
Q: Is there a monthly service fee for the account?
A: No, there are no monthly service fees for this account.
Q: Does the account need to be kept open a certain amount of time?
A: Yes. The Save to Win account needs to be kept open for 12 months. There are penalties for early withdrawal, including account closure.
Q: Can an account holder make any withdrawals during the 12-month term?
A: Yes. Account holders are permitted to make one withdrawal during the 12-month certificate term for a $25 fee and must leave at least $25 in the account to keep it open. If a second withdrawal occurs, the account will be closed.
Q: Is there any other additional interest penalty on top of the $25 withdrawal fee?
A: No, unless your credit union chooses to implement a higher penalty, which would be noted in their Truth and Savings Disclosure.
Q: Does the account need to be kept open for a certain amount of time before it’s eligible to win?
A: Accounts must be kept open through the drawing period in order for account holders to be eligible for prizes. For ex: the drawings are performed on the 14th day of each month for the previous month's transactions. In order to be eligible for the current drawing, your account must be open through the last day of the previous month.
Q: Can a Save to Win account be opened on a business or trust account?
A: No. Save to Win is only available for personal accounts.
Q: Can I open a Save to Win account online?
A: Each credit union may make this exception based on their current online account opening procedures. Contact your credit union to see if this is an option for their Save to Win account.
Q: What kinds of prizes does the account offer?
A: The Save to Win share certificate offers account holders the opportunity to win monthly and quarterly prizes. Click here for a complete list of prizes. Some credit unions also offer individual member drawings as well. Prizes vary by credit union (refer to your credit union’s Official Rules for details).
Q: Can a member win a central prize and a credit union prize in the same month?
A: A member can win a national or statewide prize and a credit union prize in the same prize period unless otherwise stipulated in your credit union’s Official Rules. An individual member can win multiple times and in consecutive months/quarters.
Q: How will prizes be awarded to members? How will winners be notified that they have won?
A: Prize winnings will be deposited into the member regular share account. The member’s credit union will notify the winner within 14 days of month-end.
Q: Will members be taxed on their winnings?
A: Winners that receive prize earnings that total $600 or more in a given year are required to report earnings on their next year’s tax returns and may be required to pay applicable state and federal taxes. Credit unions with winners that receive more than $600 in prizes for a given tax year will send those members a 1099 MISC form for their tax reporting purposes.
Q: How are prize entries calculated?
A: Members will receive one entry in the monthly drawing for every $25 increase in month over month balance, up to a maximum of 10 entries per month. Each monthly entry is also entered into the quarterly prize drawing, up to a maximum of 30 entries per quarter.
Q: If a member deposits $100, then withdraws the money within a short period of time, do they still get four chances to win prizes?
A: No. The number of entries is based on the increase in a member’s month-over-month balance. If a member deposits $100 in a given month then withdraws that amount in the same month, the member will not receive any entries for that drawing period.
Q: If the member’s monthly balance increased by $49.83, will they receive one or two entries?
A: Since there is no rounding up, the member would only receive one entry for that month’s drawing.
Q: When Save to Win certificates mature do they automatically roll over for a new 12-moth term?
A: Yes, accounts should be set up by your credit tunion to automatically renew after 12 months.
Q: Can a member withdrawal all or a portion of their money from the certificate during the grace period and if so, will they be charged a withdrawal fee?
A: Members can withdrawal money from their Save to Win share certificate at maturity during their grace period without being assessed a penalty. Members would need to leave at least $25 in the account to keep it open. Members also have the option to withdraw all of their money and close the account at this time without being assessed a penalty fee.
Q: If members take out money during their grace period, will they lose entries for the prize drawings?
A: If a member withdraws more money than they deposit at maturity or anytime during the 12 month term, they will not earn entries for that drawing period. Entries are only earned when the month-over-month balance increases.
Q: If a member closes their account and wants to open a new account later in the year, is there a waiting period?
A: Some credit unions have a 6-month waiting period for members to open a new account after account closure (refer to your credit union’s Official Rules for details).
Q: What are the odds of a member winning a prize?
A: Actual odds of winning are based upon the number of eligible entries received. For each eligible entry the chance of winning monthly or quarterly prizes is equal to that of all other entries in the raffle. If a credit union chooses to perform an optional member drawing, each eligible entry has a chance at winning monthly/quarterly prizes that are equal to that of all other entries in the raffle.
Q: How can members increase their chances of winning?
A: The more deposits you make, the more entries you will earn toward the monthly and quatertly drawings.
Q: Where can I find the Official Rules?
A: You can pick them up at your credit union’s branch or download a PDF version on the Save to Win website.
Kinetic Credit Union
Save to Win® Savings Promotion Raffle
OFFICIAL ACCOUNT AND PRIZE ENTRY RULES
1. How to Enter: The Save to Win® Savings Promotion Raffle (“Raffle”) begins on January 1, 2022 and ends December 31, 2022 (“Raffle Period”).
Automatic Entries: An eligible member of a participating credit union automatically receives Raffle entries based upon the following:
Central Monthly and Quarterly Prize Drawings: One (1) entry for every $25 increase in the monthly balance for the member in a Qualifying Certificate Account at month’s end, with a maximum of ten (10) entries per month per member. Participating members are limited to a total of 30 entries during the Raffle Period for the Central Quarterly Prize Drawings.
Credit Union Monthly/Annual Prize Drawings: One (1) entry for every $25 increase in the monthly balance for the member in a Qualifying Certificate Account at month’s end, with a maximum of ten (10) entries per months. Participating members are limited to a total of 120 entries during the Raffle Period for the Credit Union Annual Prize Drawings. Credit Unions may change their monthly/annual drawing prize structure at any time during the year, so long as notification of the change is provided to all Save to Win® account holders.
Automatic Entries will be recorded by participating credit unions once the balance is calculated at month-end processing. Qualifying deposits/balances must be received and posted by the participating Credit Union by midnight Eastern Time on the last day of each month end. Automatic entries are only eligible to win during the drawing period covered.
Except for making deposits as described, no other action, and no other purchase or other consideration, is necessary for an entry into the prize drawing.
2. Qualifying Certificate Account: Participating credit unions will establish Qualifying Certificate Accounts. A Qualifying Certificate Account may be either a share certificate or a certificate of deposit depending on the account structure of the credit union. Rates and other terms and conditions of a Qualifying Certificate Account may vary from credit union to credit union. A participating member is limited to one (1) Qualifying Certificate Account at one (1) participating credit union, with a minimum opening deposit. A minimum balance of $25 must be maintained in the share certificate in order to remain open. Participating members may deposit unlimited funds in a Qualifying Certificate Account, with an unlimited number of deposits in a Qualifying Certificate Account, provided that prize entries and eligibility are limited as set forth in these rules. A participating member may make a maximum of one (1) withdrawal from their Qualifying Certificate Account during any twelve (12) month period, with an early withdrawal penalty fee of $25. More than one (1) withdrawal within any twelve (12) month period will result in the disqualification of the participating member’s Qualifying Certificate Account from consideration for subsequent prizes and the participating member’s forfeiture of any and all entries for monthly and quarterly prizes and will result in the closure of the Qualifying Certificate Account. Once a Qualifying Certificate Account of an account holder has been closed, there will be a 6 month waiting period before that accountholder can open a new Qualifying Certificate Account.
3. Prize Eligibility: Corporations, limited liability companies, partnerships, associations, sole proprietorships, trusts, business and labor organizations, other public or private entities, as well as officers, directors and employees (including joint accounts) of (i) participating credit unions and (ii) vendors of such credit unions are not eligible to receive Prizes from the Central Drawings or Prizes from the Credit Union Drawings. Also, not eligible are immediate family members (spouse, child) of the individuals described in the preceding sentence, nor any person residing in the same household as any such individual. All participants must be at least of sufficient age to enter into a binding contract (18 in most states), a resident of a state in which the principal place of business of one or more participating credit unions is located and be a member with a regular share account (the account which qualifies the individual for membership), in good standing in the participating credit union. To win a Prize in a drawing, a participant’s Qualifying Certificate Account must be open and active through the drawing period. A participating member is limited to winning one Central Monthly Prize per month and one Central Quarterly Prize per quarter. A participating member is eligible to win both a Central Prize and a Credit Union Prize in the same drawing month or quarter. If the Qualifying Certificate Account is owned by more than one member, only the primary member under whose taxpayer identification number earnings on the account would be reported to the Internal Revenue Service should such reporting be required for the account is entitled to win a Prize. All transactions constituting Raffle entries must occur within a state in which the principal place of business of one or more participating credit unions is located. Before receiving any prize, a participant must confirm eligibility by verifying identity, age and certifying that all transactions constituting Raffle entries occurred within a state in which the principal place of business of one or more participating credit unions is located. If the participant fails to do so within thirty (30) days after the account holding credit union notifies the participant that the participant is a winner, the participant shall forfeit the prize involved and the prize will be awarded to the first alternate winner. If a member with a Qualifying Certificate Account is ineligible for the Raffle, such member will continue to be the account holder but deposits to the account will not constitute qualifying Raffle entries.
4. Prizes: All cash Prizes from the Central Drawings and cash Prizes from the Credit Union Drawings will be deposited into the winner’s traditional share account. Cash Prizes may not be deposited in the member’s Qualifying Certificate Account. All Central Drawing winners and winners from the Credit Union Drawings will be selected from among all participants in the Raffle Drawings. Central Monthly and Quarterly Drawings will be conducted within fourteen (14) days of the conclusion of the previous month/quarter, for which valid entries will be determined. Winners will be notified via telephone, email, or standard U.S.P.S. mail. Prizes are non-transferrable. You need not be present at the drawing to win. Each Credit Union is responsible for providing an IRS 1099 MISC form to their members who have received prizes from the Central Drawings or prizes from the Credit Union Drawings that are equal to or more than $600 for the given tax year. Each Credit Union is responsible for paying out all Prizes to its winning members from the Central Drawings and the Credit Union Drawings. Prize amounts for Credit Union Drawings are listed below. A complete list of Central Drawing Prizes as applicable from time to time will be listed on the www.savetowin.org consumer website.
Must be at least 18 years or older, a legal resident of a prize-linked saving state and a Kinetic Credit Union member. One withdrawal allowed from your Save to Win account in the 12-month period. A $25 withdrawal fee will apply.
Check out some of our winners.