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Educators CU creates at-home savings challenge
RACINE, Wis. (8/12/08)--Educators CU members can compete to win $10,000 in the credit union’s first-annual savings challenge. More than 90 have applied for the challenge, which is part of the Filene i3 Savings Revolution. Six families will compete for the prize while improving their financial well-being. Winners will be announced Thursday. Participating families will be paired with financial counselors for nine months in attempts to reduce the families’ debt by 3%, increase their savings by 5%, improve their credit history and become more financially savvy, according to the Wisconsin Credit Union League (The League Aug. 11). Members also can play the challenge from home. Educators CU is the first credit union to create a home version of the challenge. Members must pick a goal to achieve over the next seven to nine months, obtain a credit report, open and maintain a VIP Savings account, keep a spending plan, and attend three Educators financial education workshops or three online courses from Balance, a financial fitness program. Online participants will be entered into a drawing to win $1,000; $750; $500; or $250. They must sign up by Oct. 31. Educators is one of 10 credit unions to offer the Savings Challenge.
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