The Credit Union savings account with monthly prizes

Saving feels good, winning feels great!

Save from as little as £1 and be entered each month to win prizes up to £5,000 for free.

Start building your nest egg

Be in with a chance of winning up to £5,000 by entering into a free monthly Prize Draw with a PrizeSaver account.

Start saving from as little as £1 to be in with a chance of winning.

There are 20 other prizes of £50 or £20 to win each month.

How does PrizeSaver work?

It’s simple.

When you save with PrizeSaver, every £1 in your account (up to £200) is a chance to win and boost your savings.

Participating members will be entered into the monthly draw with 14 other credit unions and if you’re a winner, you’ll be notified by us within two days!

Did you know?

Around 9.79m (36%) households in the UK have no savings, while a further 3.54m (13%) have under £1,500. 19.31m 71% have less than £10,000 in savings. (The Money Charity).

Frequently asked questions about PrizeSaver

Can I deposit into the Prize Saver and no other account?

No, you are still required to deposit a minimum of £10 per month to your Regular Saver. By doing so, your account remains active and you also will receive a dividend on your Regular Saver, unlike the Prize Saver account.

Am I required to save every month?

No, you are not required to make regular deposits into the Prize Saver account. You can deposit one-off amounts into your account, in addition to making monthly deposits if you wish. Upon reaching the maximum of £200, further deposits will be allocated to your Regular Saver.

Can I enter my children in the draw?

Unfortunately, you are not able to enter Junior accounts into the draw. You must be aged 18 or over to open a Prize Saver account.


Do entries cost me anything?

No, you are not charged for entering. We are attempting to incentivise building a savings pot of up to £200, with the chance to win prizes for having funds in your Prize Saver account.

Is there a cap on the number of entries I can have?

Yes, the draw is capped at 200 entries per entrant. This will keep the draw fair for all savers. As such, there is also a £200 limit for the Prize Saver account, as this is the maximum number of entries.

Who administers the draw itself?

The Prize Draw will be conducted by Incuto, an independent technology partner selected by all participating Credit Unions and ABCUL.

All participating credit unions, share their monthly entrants with Incuto who then run the draw. This ensures the draw is fair for all entrants.

Will I receive a dividend on this account?

No – you will not receive a dividend on this account. By entering, you have the opportunity to win up to £5,000 in prizes which would be deposited directly into your Prize Saver account for withdrawal.

Can I make withdrawals from this account?

Yes – you can make withdrawals from the Prize Saver account. Please note: any withdrawals made will have an impact on the number of entries you will receive in the month you have reduced your balance.

Can I borrow against my PrizeSaver balance?

No – the PrizeSaver is a separate account and can not be used as collateral for a loan. When borrowing from Plane Saver, your Regular Saver is used as security against that loan and is locked.

Why did HM Treasury started Prize Saver?

The PrizeSaver Account was a part of the Government’s work to raise awareness of credit unions and encourage greater savings for the future. HM Treasury pledged 21 prizes each month throughout the pilot to help incentivise savers.

The prizes are now funded by the participating Credit Unions.

Which other credit unions are part of the pilot?

1st Alliance Credit Union, Bradford District Credit Union, Central Liverpool Credit Union, Clockwise Credit Union, East Sussex Credit Union, Lewisham Plus Credit Union, London Capital Credit Union, Merthyr Tydfil Borough Credit Union, Nottingham Credit Union, Riverside Credit Union, South Manchester Credit Union, Westcountry Savings and Loans, Commsave Credit Union & Police Credit Union

Can I make one-off deposits into my PrizeSaver account?

If you would like to make a bank transfer, please call us on 0208 607 5020 and ask a staff member to provide you with our sort code and account number to arrange the transfer to us. With either method please ensure you provide your membership number as a reference to us to enable us to allocate the funds correctly.

Become a member and start saving today!

Become a member and start saving today! Become a member and start saving today!