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.
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BENEFITS TO YOUR CREDIT UNION
Your investment in Lucky Lagniappe provides access to a fully developed program that is easy to implement, including:
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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