Change Maker Savings Program

TERMS AND CONDITIONS

This Agreement: This Agreement is between you and Scient Federal Credit Union. You accept the terms of this Agreement when you enroll in the Scient Federal Credit Union Debit Card Savings Program (“Change Maker”), herein known as “the Program.”

Account Descriptions: Scient Federal Credit Union members with an Eligible Checking Account may elect to participate in the Scient Federal Credit Union Debit Card Savings Program (“Change Maker”) as set forth below. Eligible Checking Accounts include any Scient Checking Account. Only one checking account per SSN allowed in the program. Your Round-Up transactions are funds you have elected to store in a special savings account (“Change Maker Savings Account”) for personal use.

Round-Up Transactions: Each transaction you make using all debit cards issued to the enrolled checking account, will round up to the nearest dollar and funds will be put into your Change Maker Savings Account.

The Credit Union will aggregate the rounded amounts from point of sale purchases that post to your checking account each day and make a single transfer (Change Maker Transfer) at or near the end of each day. This transfer will reduce the funds available for future transactions in your checking account. If on any day you do not have sufficient available funds in your checking account, or if any transaction has overdrawn your checking account, the Change Maker Transfer will not occur for that day. We do not round up purchases posted on that day and we cancel the daily round-up transfer for that day.

All funds deposited into your Change Maker Savings Account will receive the Change Maker Shares (savings) rate disclosed on Scient Federal Credit Union’s rate sheet for that time period. Only deposits, and dividends received on an on-going basis, from round up debit card transactions will be allowed to be transferred into The Change Maker Savings Account. If other deposits occur, those deposits will be transferred to the member’s primary savings account.

Eligibility/Enrollment: To participate in the Program, you must have an open Eligible Checking Account with Scient Federal Credit Union with which an open debit card is associated. Additionally, you must enroll in the Program through the website, calling our contact center or at a Scient Federal Credit Union branch location. To be eligible to participate in the Program, your account must be held/issued in the United States and be in good standing as described in the applicable governing agreement. We reserve the right to determine in our sole discretion whether a particular Scient Federal Credit Union account is eligible to participate in the Program. 

Ability to Earn Special Savings: Once enrolled in the Program, your ability to store Round up funds will be based on the status of your Scient Federal Credit Union Account. If any of your Scient Federal Credit Union Accounts are in default as described in the applicable governing agreement, we reserve the right to prohibit you from storing the Round-Up funds through your Scient Federal Credit Union account and to disable the Program. If your Scient Federal Credit Union account is closed for any reason, your membership in the Program will be terminated and you will automatically forfeit all dividends accrued during the current month. Additionally, if you choose to end your participation in the Program, or if any fraud or abuse related to the Round-Up funds occurs (as determined by us in our sole discretion), then you will automatically forfeit all dividends accrued during the current month.

Program Participation: Participation in the Program will continue as long as your Scient Federal Credit Union Account is open and not in default as defined in the applicable governing agreement, unless you notify us of cancellation. The Program is not subject to a yearly program fee. You may cancel your participation at any time by calling 877-860-6928. Scient Federal Credit Union Accounts may be subject to other fees.

Right to Change/Modify/Cancel: The Program and benefits are offered at our sole discretion. We reserve the right to alter or waive any Program feature or benefit, including, without limitation, participation fees or redemption criteria, or to cancel or temporarily suspend the Program at any time without prior notice. In the event the Program is canceled, please check with Scient Federal Credit Union for information about your Account. We reserve the right to change or modify these Terms and Conditions at any time

 

October 1, 2020