PrizeSaver winner plans to keep her winnings in the credit union 

This is the story of Lily, a member of Westcountry Savings & Loans, who recently won £5,000 as part of the monthly PrizeSaver draw.

Saving with the credit union to help others

Lily, who lives in Exeter, was surprised and delighted to win the cash, but plans to keep her winnings in her PrizeSaver account, as she believes in the good work that credit unions do.

“I am leaving it in the credit union for now so that it can help other people in need. I am so glad I joined, not just because I won but because I believe in the work that credit unions do.

Credit unions are not-for-profit financial cooperatives. So, as a member of a credit union, your savings can be pooled together to help provide affordable loans to those in need.

Credit unions as a prevention tool to payday lenders

Not only do credit unions like Westcountry Savings & Loans provide an easy way to save, but they also act as an ethical alternative to payday lenders, which is something Lily knows all about.

“Anything that helps move people away from using doorstep lenders and loan sharks has got to be a good thing. In today’s climate when peoples’ finances are being stretched to the limit, access to funds from a safe and trustworthy source is important to support!”

Jackie Simpson, General Manager at Westcountry Savings and Loans added:

“We’re so pleased that one of our members has won the big prize this month – the second major winner in the last year.

It just goes to show that with a limited number of participating credit unions, everyone has a really good chance of getting their hands on a cash prize and, the beauty of the scheme is, that while they wait to see if they’ve won, members are gradually building up their savings which will help protect them from future financial shocks.”

Learn more about the PrizeSaver

The PrizeSaver is a prize-linked savings account brought to you by various credit unions across the country. To learn more about the PrizeSaver click here.