Connex Credit Unionrecently launched the a popular financial fitness contest thatencourages members to improve their financial wellbeing by reducingdebt, increasing savings and boosting their credit scores.

Four participants were selected to compete in the five-monthcontest, which began in April and offers a grand prize of $5,000, afirst prize of $1,000 and a second price of $500, the credit unionsaid.

“ConneXfactor is an example of our customer advocacy program andcommitment to helping our members get to a better financial place,”said Louise Nestor, director of marketing for the $412 millioninstitution based in North Haven, Conn.

The ConneXfactor challenge runs through Sept. 30 and has adedicated website: www.connexfactor.com.

One of the goals of the contest is to make members aware ofConnex's free Financial Advocacy program, designed to help membersimprove their financial wellbeing, she said.

“The ConneXfactor competition is a natural extension of ourFinancial Advocacy program,” Nestor said. “With trained FinancialAdvocates using extensive planning and budgeting tools, we want tohelp all of our members improve their financial lives.”

The challenge is among many innovative initiatives launched bythe cooperative, including Connex's Unbanking Campaign.

Although ConneXfactor is limited to four participants, thecredit union is urging all members to take advantage of theFinancial Advocacy Program.

“In addition to providing information on the participants'progress, ConneXfactor.com also will provide budget sheets,financial tips and other helpful information to anyone looking tobetter their own finances financial outlook,” Nestor said. “We alsoencourage our members, and those interested in becoming members, tovisit aConnex branch where they can obtain the same experience andservice from our dedicated staff.”