*Effective December 31, 2021, City of Boston Credit Union will be discontinuing the WINcentive® Savings Program. For full details please click here

WINcentive® Savings Account

WINcentive® Savings is a prize-linked savings account offered by City of Boston Credit Union! WINcentive Savings offers prize drawing entries in return for each time you increase your savings balance by $25 (up to 4 entries per month). Prize drawings occur monthly, quarterly and annually – so the more you save, the more chances you have to win! You could even end up winning the annual grand prize of $2,500!

Is saving money a challenge? If you are struggling to save, consider the WINcentive Savings account. You can improve your money habits in a whole new way that actually makes saving FUN. You’ll feel rewarded by watching your savings grow, and experience the excitement of the prize drawings! And unlike playing the lottery, you don’t lose anything with WINcentive Savings. All of the money you deposit into the account is yours!

Product Features

  • Opening deposit minimum of $5 required
  • Interest Rate – .10 % APY*
  • Unlimited deposits allowed; however prize pool entries are limited per calendar year to:
    • $25 month-over-month balance increase/every $25 increase gives another entry -
      • 4 maximum number of total entries per month
      • 12 maximum number of total entries per quarter
      • 48 maximum number of total entries per year
  • Prizes and Prize Pool –
    • Ten (10) winning entries will be randomly selected monthly to receive a $25 prize
    • One (1) winning entry will be randomly selected quarterly to receive a $250 prize
    • One (1) winning entry will be randomly selected annually to receive a $2,500 prize
  • Limited to One (1) WINcentive Savings Account (WSA) per person
  • An account holder is only eligible to win once per drawing pool
  • Account holder requirements
    • At least one account holder must be 18 years of age.
    • Must be a City of Boston Credit Union member.
    • Must be a member in good standing.
    • Account must be open and active to win during drawing period. All earned drawings at the time of account closure are forfeited.
    • Business and trust accounts, or other non-consumer accounts are not eligible.
  • Early withdrawal fees apply
    • First withdrawal = $10
    • Second withdrawal = $25
    • Third withdrawal = account closure is required (no penalty), all entries forfeited
      • If an account is closed the member is ineligible to open another WSA account at CBCU for a period of 90 days and all entries earned to that point are forfeited upon closure.
      • An account may be closed at any time, without penalty, however all earned entries are subsequently forfeited.
  • After 12 months of savings
    • After twelve (12) consecutive months of savings, an account holder may continue participation in WSA for a subsequent twelve (12) month savings period. During the anniversary month of account opening (month 13), an account holder may do any of the following, penalty-free:
      • Keep balance in WSA account (Any roll-over balance that remains at the end of the anniversary month will be treated as a new deposit for eligibility into applicable prize pools for the subsequent first monthly, quarterly and annual savings period);
      • Transfer funds into another savings product offered by City of Boston Credit Union;
      • Withdraw all funds but keep $5 on deposit in WSA to maintain account;
      • Close account

Click here for WINcentive Member Participation Agreement

If you are currently enrolled in City of Boston Credit Union Online Banking you can easily open your WINcentive Savings Account, simply log into your Online Banking account, click on the Open An Account tab and follow the prompts to open your new WINcentive Savings Account.

* APY = Annual Percentage Yield. Rates subject to change without notice.

All Deposit Accounts at City of Boston Credit Union are insured, for more information click here.