1. ©2013 D2DFund, Inc.  Mission: to strengthen the financial opportunity and security of low and moderate income consumers by innovating, incubating, and stimulating new financial products and policies.  Non-Profit 501(c)3 based in Allston, MA  Wide range of work  Promoting savings bonds at tax time  Incentivizing routine savings with prizes  Teaching finance with casual video games  Comodifying emergency savings  Shaping the fintech & mobile app space Doorways to Dreams (D2D) Fund

2. ©2013 D2DFund, Inc. Prize-linked Savings Concept A dynamic approach: Greater potential for impact Reach a diverse set of consumers Fosters innovation A game-changing experience: PLS bundle – saving + entertainment + aspiration Fun! Engaging! Reframe from desire/sacrifice to immediate reward, possibility, suspense

3. ©2013 D2DFund, Inc. Prize-linked Savings Features Motivates building and keeping savings: More you save, more chances to win Prize structure can incent certain behaviors e.g., greater odds of winning if savings held for longer period Principal Protection: There are no losers – all deposits are safe Prize money: Paid from interest on deposited funds

4. ©2013 D2DFund, Inc. Save to Win History  In 2009 MCUL, D2D, Filene set up Save to Win  Launched with 8 credit unions  Based off of the ability for credit unions to offer raffles under state law  Expansion to Nebraska (2012), North Carolina (2013), and Washington (2013)

5. ©2013 D2DFund, Inc. Save to Win Product Description  12-month share certificate  Opening deposit: $25  Unlimited deposits  One withdrawal allowed in 12-month period  Prizes!  Large, headline prizes (from $20,000-$100,000)  Many, smaller, monthly prizes  Credit union specific prizes

6. ©2013 D2DFund, Inc. Who does Save to Win Serve?  In 2013 in all states between 70-78% of accountholders met at least one measure of financial vulnerability and:  36-69% were Low to Moderate Income (below $40,000 HH income)  50-57% were non- savers  35-45% were asset poor

7. ©2013 D2DFund, Inc. What is the Impact?  Over 40,000 unique accounts between 2009 and 2012 saving over $70,000,000  Between 2011 and 2012, 82% “rolled over” or kept their accounts open for another year  Financially vulnerable and non-vulnerable accountholders reopened their accounts for another year at the same rate

8. ©2013 D2DFund, Inc. Opportunity in New York  In 2013, NYS Legislature passed PLS bill  Partnership with NY Credit Union Association, National Federation of CDCUs  Chance to participate in NY roll-out in 2014