NEWPORT NEWS, Va., July 22, 2021 /PRNewswire/ -- BayPort Credit Union announced it has selected 10 winners in their annual $50,000 Debt Paydown Sweepstakes, raising awareness of and improving the financial performance wellness of members.
Spanning seven cities, this year's 10 winners reflect BayPort's expansive membership across both the Virginia Peninsula and Southside, from Gloucester County, Virginia, to Nags Head, North Carolina. From a Newport News Shipbuilding worker to a City of Chesapeake employee, ranging in age from 36 to 54, each received up to $5,000 to help reduce or pay off their BayPort debt.
As consumers are paying down debt and saving more than they have in decades, BayPort Credit Union continues to play its part with its third annual sweepstakes. As a result, its members leverage low-interest credit union rates to refinance and lower their monthly bills.
The $50,000 Debt Paydown Sweepstakes was open to members and non-members who made a balance transfer of at least $500 to a new or existing BayPort credit card, signed up for online banking, and registered for the credit union's newest free member benefit Credit Score. Credit Score allows members to monitor their credit score, access their full credit report, take advantage of credit monitoring alerts, and receive tips to improve their credit score. The sweepstakes launched March 1 and ran through May 31.
Since launching Credit Score, more than 30 percent of BayPort members are registered for the free tool. In that time, nearly 50 percent of these members have improved their credit score, not only enhancing their financial health but making them eligible for lower rates and better loan options.
To learn about BayPort's free, online financial wellness tools, please visit bayportcu.org/learn.
About BayPortIn 1928, nine shipyard workers from Newport News Shipbuilding formed an organization with a specific purpose as a low-interest source of loans and a trusted place to deposit money. Today, BayPort Credit Union is rated a Superior 5-Star credit union by Bauer Financial, managing $1.9 billion in assets and servicing more than 145,000 individuals and businesses with 25 branch locations across the Virginia Peninsula and Southside communities. Visit us at www.bayportcu.org.
View original content to download multimedia: https://www.prnewswire.com/news-releases/bayport-announces-winners-of-third-annual-50-000-debt-paydown-sweepstakes-301339549.html
SOURCE BayPort Credit Union