FREQUENTLY ASKED QUESTIONS

What is the Save to Win account?

Save to Win is a special savings product that offers the participating SHPFCU members an opportunity to win cash prizes — just for saving! This program offers a fun, innovative and exciting way to save, which empowers members to achieve financial success. For every $25 you save into a Save To Win account, you earn an entry into the monthly or quarterly drawings. Not only will you build your savings and earn interest/ dividends, but you can also win multiple prizes throughout the year. Eligibility requirements and Official Rules apply.

Why open a Save to Win Account?

Because it’s a no-risk and all-reward account. You have nothing to lose — and everything to win! Not everyone will win a cash prize, but with regular deposits you can watch your savings grow and be empowered to achieve financial success. You keep the money you save, earn any applicable interest/dividends, and earn chances to win big cash prizes. It’s a Win-Win-Win opportunity!

What are the Prizes?

The best prize is to see your savings grow with regular deposits each month. But to make saving even sweeter, hundreds of monthly cash prizes and several quarterly cash prizes will be awarded throughout the year. The eligible winners will be notified by the credit union via phone, email and/or mail. Please refer to our Save to Win account disclosures and Save to Win Official Rules for details. The Official Rules and a complete list of prizes are also available at www.savetowin.org.

How can I sign up for Save to Win?

To participate in the program, you must open a Qualifying Save to Win Account. Contact SHPFCU at 614-431-0784, start a chat session with us during business hours, email us, or text us at 614-431-0784 and work with a member service representative today to get started. Eligibility requirements and Official Rules apply. The rules allow only one Save to Win savings account per primary SSN submitted. You must be a legal resident of the State of Ohio to be eligible for prize drawings. If you move out of the State of Ohio, any deposits you make to your Save to Win account will no longer be eligible for raffle entries. You may still open and earn interest on a Save to Win savings account.

Where can I find the official account rules?

You can pick them up at your credit union or download a PDF version here.

How do I earn Save to Win raffle entries?

An account holder earns one entry into the monthly, or quarterly, for every $25 increase in the monthly balance of the Qualifying Save To Win Account at month’s end. Entries are calculated based on a month-over-month balance increase, as reported by the credit union in the monthly data file each month. This means there must be an increase of at least $25 in the reported ending balance of the current month when compared to the reported ending balance of the previous month. This month-over-month balance increase is calculated based on the Save to Win member record reported by the credit union each month. If a Qualifying Account is closed and a new Qualifying Account is opened for any reason during the month, the month-end balance reported by the credit union in the previous month’s data file will be used as the starting balance for the current month to calculate the month-over-month balance increase, which constitutes entries for the current month. The more you save, the more chances you receive to win! Max 100 entries per month. Max 300 per quarter. Max 1200 annual.

If I withdraw funds from my account, will I lose entries?

Save to Win entries are calculated based on month-over-month balance increases. A withdrawal from your account could affect whether you had a balance increase for a particular month. If, due to your withdrawal, you do not have an balance increase compared to the prior month, you will not get entries for that particular Drawing Period.

When are the drawings held?

National and credit union drawings are held around the 14th of each month and quarterly drawings in January, April, July and October. All winners are randomly selected by CU Solutions Group, Inc (CUSG).

How will winners be notified?

Winners will be notified by SHPFCU via telephone, email or standard U.S.P.S. mail. Prizes are non-transferrable. Winners need not be present at the drawing to win.

How long do I need to keep this account open for?

In order to be eligible for the current Drawing Period, your account must be open through the Drawing Period. A Drawing Period shall be defined as the last day of each month for any applicable monthly drawings, the last day of each quarter for any applicable quarterly drawings and the last day of each calendar year for any applicable annual drawings.

Can my child have a Save to Win account?

No, you must be at least 18 years old to open a Save to Win savings account.

Can credit union Officers, Directors and Employees, and Employee families participate in the Save to Win Raffle?

Officers, Directors and employees of the participating Credit Union are not eligible to participate in Central Prize Drawings or Credit Union Prize Drawings.  There is a separate Employee/Official Family Pool Prize Drawing that they may participate in.  Family members of officers, Directors, or employees may participate in the Central Prize Drawings or Credit Union Prize Drawings if their account is not jointly held with the individual who is an officer, Director, or employee of the credit union.  See Official Rules for additional information.

Can I win multiple prizes in the same Drawing Period?

A Participating Member is limited to winning one Central prize per Drawing Period and is also limited to winning one SHPFCU prize per Drawing Period, if applicable. A Participating Member may be eligible to win both a Central prize and a Credit Union prize in the same Drawing Period.

How will prizes be paid out?

The funds will be deposited into the members' regular share savings account. Please refer to the credit union’s Official Rules for details.

Will I be taxed on prize winnings?

Winners that receive prizes totaling $600 or more each year are required to report earnings on their tax returns and may be required to pay applicable state and federal taxes. A 1099-MISC form will be provided to those winners in January for their previous year’s earnings.

What are the odds of winning a prize?

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.

*SHPFCU membership and qualifying Save to Win Savings Account required. Participating members will be eligible for one (1) entry for each $25 increase in the monthly of the balance of the qualifying account calculated on the last calendar day of the month. Eligible entries cannot exceed 100 entries for the monthly prize drawing, 300 entries for each quarterly prize drawing, and 1,200 entries for each annual prize drawing, per participating member. Odds of winning are based on the number of eligible entries received. Except for making the required deposits taking any other action, or purchasing any goods or services, will not increase the odds of winning. Eligibility restrictions apply. See Official Rules for more details.

**The minimum deposit to open a Save to Win account is in addition to the deposit of one $5.00 membership share required to be maintained in your share savings account. There is no minimum balance required to open a Save to Win account. The minimum deposit to open a share savings account is $5.00. For additional account information, please see the Save to Win Truth-in-Savings disclosure. A member is good standing is any member of the credit union who meets all of the following: (a) The member currently has at least $5.00 on deposit in their share savings account, and (b) The member is not delinquent on any loan obligation to the credit union, and (c) The member does not have a negative balance in any share account they own with the credit union, and (d) The member has not previously caused the credit union a financial loss of any kind.