Saturday, July 18, 2009

Would you save more if saving was more like gambling

Jason Zweig writes in the Journal about a type Certificate of Deposit that is also a raffle for cash prizes. It seems that incentive is working. The eight credit unions in Michigan participating in this type of CD have attracted $3.1 million in new deposits because of this product.

Would you save an additional $25 for the possibility of winning $400? or $100,000?

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1 comment:

Liz Patton said...

Yep, I would. Pathetic on my part, but seems like a great idea.

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