a prize-linked savings product brought to you by the Louisiana Credit Union League
Lucky Lagniappe Savings incentivizes consumers to save by offering risk-free rewards. Lucky Lagniappe prizes are awarded on a monthly, quarterly, and annual basis, with prizes ranging from $100 to $5,000. Account holders qualify for up to five chances per month for each $20 increase in their month over month savings balance.
Lucky Lagniappe Savings is offered at 15 credit unions in Louisiana.
BENEFITS TO YOUR CREDIT UNION
Your investment in Lucky Lagniappe provides access to a fully developed program that is easy to implement, including:
Access to a state-wide prize pool
- A fully developed savings product that is unique to credit unions that has been developed with the expertise of the national financial capability think-tank, Commonwealth
- Access to TruLync’s secure, propriety software program that collects credit union data, applies a sophisticated random generator for prize winner selection, and creates and tracks winners through report generation
- A marketing toolkit, including a trademarked product name and logo
- A consumer facing website for members to learn about credit unions and how to participate in a Lucky Lagniappe Savings account
- Compliance templates for truth in savings disclosure, a member participation agreement, and Lucky Lagniappe Savings account policy