Policy paper

Credit Union Prizesaver pilot evaluation and summary

Following the end of the Credit Union Prizesaver pilot in March 2021, this report assesses the success of the pilot against its stated objectives.

From:
HM Treasury
Published
20 July 2021

Documents

Prizesaver Evaluation

PDF, 744 KB, 53 pages

Prizesaver summary report

PDF, 39.4 KB, 2 pages

Details

At Budget 2018, the Government announced it would bring forward a prize-linked savings pilot scheme for credit unions. This launched in October 2019 as “Prizesaver”, operating among 15 credit unions, and ended in March 2021. HM Treasury commissioned an independent evaluation of the pilot by IFF Research to assess if the pilot met its stated objectives of:

  • Building financial resilience of individual savers

  • Increasing membership and awareness of credit unions

  • Testing whether the prize-linked savings model works in encouraging savings

This report is published here alongside a short summary setting out the background to the pilot and key themes from the report.

Published 20 July 2021

Related content