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To provide a stronger incentive to save, some credit unions are now offering prize-linked savings certificate accounts that offer monthly drawings for cash prizes.

On maturity, existing savings certificate customers can continue to rollover their investment into the same issue.

They can also reinvest into any of the savings certificate terms and issues – either the three- or five-year issue of index-linked savings certificates or the two- or five-year issue of fixed-interest savings certificates – regardless of which savings certificate they hold.

Those funds could currently be earning about 18% in a money-market account, 14.9% in a six-month savings certificate or 13% in a tax-exempt municipal bond fund.

Johnson disclosed Treasury plans to sell a new savings certificate to individuals.