Credit Unions "Premium Bonds" Prize Saver

[Loup321]

Part of this is remembered from the Credit Union newsletter, so apologies for any inaccuracies.

The Credit Union of which I am a member is one of 14 in a Government trial running until March 2021. http://www.lewishampluscu.co.uk/prizesaver-account It looks exactly like Premium Bonds to me. Each £1 saved gets you entry into a monthly prize draw (Government provides the prizes, I think) with a top prize of £5000. Maximum 200 entries per person, but you can save more in the account up to the Credit Union's limits (which I think are quite low). You might also get a dividend if approved at the Credit Union's AGM.

Sorry, I only found out about it from the Credit Union's newsletter, and it's been running since November. I also don't know which other Credit Unions are in the trial.