Travis Credit Union has named the five winners of its 75th Anniversary Savings Challenge, handing out $7,500 apiece for a total of $37,500 in cash prizes.
The five-month challenge ran from May 1 through September 30 and aimed to get members saving more and saving smarter.
The Numbers
Nearly 84,000 participating members grew their savings balances during the challenge. The median gain was $530 above what those members had been saving before. Nobody needed a windfall or a secret trick, just steady habits, which is a bit like The Karate Kid‘s “wax on, wax off”: boring on the surface, effective in the long run.
More Than a Prize Drawing
The cash giveaway capped off the campaign, but TCU built the challenge around a few other pieces:
- Knowledge Base: a free online library of courses covering a wide range of money topics, from building savings to making sound financial decisions.
- Generation Wealth workshops: eight sessions for students in Solano, Contra Costa, Napa and Yolo counties, based on the idea that good money habits are easiest to pick up early.
What the CEO Says
“Congratulations to everyone who participated in the savings challenge to celebrate Travis Credit Union’s 75th Anniversary,” said TCU President and CEO Kevin Miller. “Financial literacy in our communities remains a core priority for us at Travis. It starts with small, achievable steps, and even setting aside a few dollars each month is a meaningful accomplishment that we can all be proud of.”
Five members walked away with $7,500 each, but tens of thousands finished with fatter savings accounts than they started with.