Prize-linked savings pilot participants announced

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Under the scheme individuals who save will be entered into a draw to win cash prizes. Following a competitive application process, the Economic Secretary to the Treasury, John Glen, announced in Parliament that 15 credit unions across Great Britain would pilot the scheme. They are:

  • 1st Alliance (Ayrshire) Credit Union
  • Bradford District Credit Union
  • Central Liverpool Credit Union
  • Clockwise Credit Union in Leicester
  • East Sussex Credit Union
  • Lewisham Plus Credit Union
  • London Capital Credit Union
  • Merthyr Tydfil Borough Credit Union
  • Nottingham Credit Union
  • Riverside Credit Union in Liverpool
  • South Manchester Credit Union
  • Westcountry Savings and Loans in Portishead
  • Commsave Credit Union
  • Plane Saver Credit Union
  • Police Credit Union

HM Treasury are working with a fintech Incuto to deliver the scheme. We are aiming to open the accounts to savers later this year.

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