Nudgeblog highlights the remarkably effective Save to Win! effort by community-focused financial service institutions in Michigan and makes a suggestion:

With banks acting like lotteries, maybe it’s time for lotteries to act like banks. For people who can’t give up the thrill of a scratch off game, state lotteries could sell a, say, $5 ticket where $4.50 would be sent to a bank account. Seven other Michigan credit unions have adopted the model. One manager explained that the lottery style bank account proved more successful than a short-term CD with a 10 percent interest rate!

Maybe local policy makers should start thinking about a local asset development agenda that leverages some of these insights…