From cars to cash – NBS’ new way of incentivising saving

The steady stream of new cars won by NBS Target Saver Account clients during 20 years of giveaways has been given a refresh, a move which will see more winners, more often. But instead of cars, NBS clients will now be in to win a share of cash in this new promotion.  

Motueka branch client Deborah Crowther was rapt to win a BYD Sealion 6 in August, not far from her 60^th birthday, and she is enjoying the hybrid SUV’s comfortable ride and digital screen technology.

When Deborah first opened her Target Saver Account with NBS more than 15 years ago, she remembers feeling excited at the possibility of winning a car.

“I thought at the time that ‘you have to be in to win’ – and I did!” Deborah says.

“It has certainly helped incentivise my savings goals. I save for specific things and having your chances of winning a car increase the more you save has been a motivator.”

What Deborah didn’t know when she was presented her new car was that she would be the last winner in the long-running ‘Win a Car’ promotion.

Having handed over the last keys to Deborah, NBS can now announce that it has moved from giving away a new car three times a year, to giving away a share of $25,000 each month, with the first draw taking place mid-October.

All current and new Target Saver Account holders will have five chances each month to win $5,000. And just like the car giveaway promotion – the more someone saves, the more chances they have. Every $100 saved is an entry in the draw.

Everything NBS does is about helping clients get into the savings mindset while thanking them for their partnership, says Tony Cadigan, NBS Chief Executive.

“We asked our clients if they still wanted to win a car. They asked for more prizes, more often, and we are happy to be able to do this.

“We want to encourage our clients and communities to save for their goals and to feel good about having savings in place. It is also just as important to us now, as it was 20 years ago when we started giveaways, to make it achievable for people to participate, which is why we are keeping the $100 threshold for entry into the draw,” Tony says.  

“We have absolutely loved giving cars and other big-ticket items away over these past 20 years. We are now picking up the pace of rewarding people’s saving efforts, with more chances to win, more often.

“Winning $5,000 makes a big impact to your savings goals if you keep it invested – but we are equally happy that people might spend this money as they want and need to.”

 

The end of an era for four-wheeled wins

“We started offering cars because they’re an expensive essential people need for work, life and – for many whānau – independence,” Tony says.

“The same applies when people have sold the car they won and used the money towards something else. Our priority is setting people up for the future.

“20 years of the 'Win a car' promotion has been a fun and rewarding promotion alongside our community sponsorship and support programmes – such as the annual NBS Rescue Helicopter Appeal, which we are supporting again this October."

The models of cars changed over the years, in keeping with people’s preferences. The first car NBS gave away was a Toyota Echo, then a Toyota Corolla, followed by Subarus, hybrid cars and a full EV car.

Tony says the cars have been life-changing for some clients. Here are some examples:

• Couple Michael and Leena Dickson won a car in December 2019. The timing could not have been better – their house and horse trekking business in Mārahau had been destroyed by Cyclone Gita and they were rebuilding their lives.

Michael and Leena rebuilt their house with funding from NBS and the car they won several months later was gratefully received. 

“We had one car, but with three kids and living in the country, I’d been saying to Lenna that we needed another car,” Michael said. “It’s a boyhood fantasy winning a brand-new car.” 

• Sally Austin, from Motueka, won a Subaru XV in May 2020 – the first new vehicle she’d ever owned. “Most of my life I’ve driven cars with the possibility they’d leave me stranded on the side of the road,” she told NBS when she won. Her first trip in the car was to pick up her grandchildren from school.
• The Tata Beach Boat Ramp Committee in Tākaka, which won a car in May 2023, used the funds from selling the car to repair the eroded Tata Beach boat ramp.

 

We're giving our Target Saver Account holders more reasons to smile.

Starting mid-October 2024, you could be in to win a share of $25,000 every month with your Target Saver Account.  These monthly cash prizes will replace the ‘Win a car’ draw as we move to reward more clients, more often, with the NBS Target Saver Account.

Every $100 in your account will be a chance to win one of five $5,000 cash prizes every month. All new and existing Target Saver Account holders will be included in the draw. 

Information about this change will be available at nbs.co.nz

Our Product Disclosure Statement is available free of charge at nbs.co.nz. NBS is the issuer of this product. Product and promotion terms and conditions apply and fees may be payable. Please visit nbs.co.nz for more information including draw dates and the announcement of winners.