PrizeSaver anyone?

rich184

A group of 14 credit unions are extending the pilot Prizesaver scheme for another six months to September 2021.  Hopefully, they will be able to continue beyond then and make it a permanent savings account.   The prizes are being funded by credit unions now as the Treasury funding ended in March. 

Btw, I won £20 last year.  Great return on my £200 plus I’ll get the annual dividend too! :-) 

colsten

rich184 said:

A group of 14 credit unions are extending the pilot Prizesaver scheme for another six months to September 2021.

Can you share their names, please?

rich184

colsten said:

rich184 said:

A group of 14 credit unions are extending the pilot Prizesaver scheme for another six months to September 2021.

Can you share their names, please?

• 1st Alliance Credit Union = Ayrshire residents plus some others
  
• Central Liverpool Credit Union = Liverpool residents plus some others
  
• Clockwise Credit Union = people living in Leicester, Leicestershire or Rutland
  
• Commsave Credit Union = people working for certain companies (quite a big range) or living in NN Postcode area.
  
• East Sussex Credit Union = people in East Sussex area or SE members of Unite
  
• Merthyr Tydfil Borough Credit Union = people living in Merthyr Tydfil, Caerphilly, Blaenau Gwent and Rhondda Cynon Taf.
  
• Nottingham Credit Union = people living in Nottinghamshire plus some others
  
• Plane Saver Credit Union – people working for certain companies
  
• Police Credit Union = police, prison or probation staff
  
• Riverside Credit Union = people in the Liverpool area
  
• South Manchester Credit Union = people who live in the South Manchester area
  
• Westcountry Savings and Loans = people in Somerset, Devon, Cornwall, Isles of Scilly, North Somerset, Bath & NE Somerset or some areas of Bristol plus some local government employees
  
• Lewisham Plus Credit Union = residents of Lewisham or Bromley plus some other
  
• London Capital Credit Union = residents of some north London boroughs plus employees of various organisations
  

Sorry, the site won't let me share links.

gozaimasu

Since I last posted I won another £20. Fab return on £200 but I do wish they'd pick me for the £5000..

dhokes

Any update on this and whether this will continue?

Zanderman

dhokes said:

Any update on this and whether this will continue?

Well the website https://prizesaver.co.uk/ appears to be non-existent now.  Or at least it is today.  Last updated according to web stats at the end of August.  Maybe it's down for temporary reasons.

They did say prizesaver was extended until September with a review then about continuing afterwards.  This is probably a wait and see moment - if it continues I'm sure there'll be an announcement in due course.

Edited to add:  the basic url may not work but this one does:  https://www.prizesaver.co.uk/home

So maybe all is not lost after all.  

dhokes

Zanderman said:

dhokes said:

Any update on this and whether this will continue?

Well the website https://prizesaver.co.uk/ appears to be non-existent now.  Or at least it is today.  Last updated according to web stats at the end of August.  Maybe it's down for temporary reasons.

They did say prizesaver was extended until September with a review then about continuing afterwards.  This is probably a wait and see moment - if it continues I'm sure there'll be an announcement in due course.

https://www.prizesaver.co.uk/home

Zanderman

This is what they wrote back in March:

HM Treasury originally provided a prize draw facility to participating credit unions on a trial basis until April 2021. All 14 participating credit unions, in conjunction with the  Association of British Credit Unions Ltd has now extended the scheme to the end of September 2021.

What happens after 6 months?

The participating credit unions and the Association of British Credit Unions Ltd may elect to extend the scheme. The credit unions will give reasonable notice in advance of any change taking effect, if they have elected to either:

a) terminate the scheme and cease to operate prize draws before the scheduled end date of the extension period

or

b) extend the scheme period.

dhokes

I contacted Clockwise and the person who replied to my query said their scheme ended in April.

gozaimasu

Can someone remind me how credit union dividends work? Do they pay the percentage based on the balance of your account at the date of dividend payment or is it calculated on the same way interest is - i.e. paid only on the length of time the money is in the account.