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Maryland CASH (Creating Assets, Savings and Hope) Campaign 

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Home Glossary Term Prize-Linked Savings

Prize-Linked Savings

Prize-linked savings strategies are used by banks, credit unions, and non-profits to incentivize savings and award progress. An example of a Prize-linked Savings Program would be a monthly drawing held by a credit union, to award one winner from a pool of account holders who made deposits in their savings accounts that month.