Marketing would like to have a sweepstakes where young savers bring in their report cards and for each A they get a chance in a raffle for a gift card.....Is this a lottery since no money is being given to enter? It's not a bonus so I just don't know where this falls in the scheme of regulations.

My kids all get straight B's and have a 3.0 grade point averages. My neighbor's kids get an A in sock sorting and fail the rest of their classes. You think I am going to be happy with my kid not being eligible? Why do I need an A and do all schools issue A thru F grades anymore. What about the home-schooled kids? Nice idea but is it a good one?

Hey, I don't come up with these ideas LOL! We are not excluding home schooled kids. They also get grades if they are state certified. I am trying to figure out if there are any issues I am missing on a regulatory basis. This does not meet the definition of a lottery, so is it a sweepstakes and would it have to be open to the public?

Depends on if you think attending school and getting good grades rises to the level of consideration. Might be a good idea to run to past your legal counsel.

Also, this would have to be open to all kids, not just those who have a youth savings accounts or parents who bank with you. Customers/non-customers alike must be eligible for it not to be an illegal lottery.

A lottery requires consideration so I was ruling that out.

Brain's point was being a customer alone is consideration unless open to everyone.

Again, wouldn't you love to sit in a marketing meeting where everyone is high fiving themselves over all of these ideas? LOL.