Common use of PRIZE ELIGIBILITY Clause in Contracts

PRIZE ELIGIBILITY. For an account holder to be eligible to win a prize in a drawing, the account holder of the BUCKS FOR BUCKEYES savings account must be open and active at all times through the drawing period. The drawing period is the prior time period’s (month, quarter, or year) corresponding time period (month, quarter, or year) for the prize drawing. For the avoidance of doubt, the drawing which would occur in April would be based on the drawing period for the corresponding and preceding month of March, defined as March 1 though March 31. The 1st Quarter prize drawing which would occur in April would be based on the corresponding and preceding drawing period for the 1st Quarter, which would be defined as March 1 through March 31 (because the program is just beginning). For purposes of the BUCKS FOR BUCKEYES program, any member who holds a BUCKS FOR BUCKEYES savings account and becomes deceased is immediately disqualified from eligibility. An account holder is only eligible to win once per prize pool. If the BUCKS FOR BUCKEYES savings account is owned by more than one member, only the primary member for the account is entitled to win a prize. Before receiving any prize, an account holder must confirm eligibility by verifying their identity with the credit union. If a member with a BUCKS FOR BUCKEYES is ineligible or becomes ineligible for the prize drawing, such member will continue to be the account holder but deposits to the account will not constitute qualifying entries for the prize pools. All Prizes from Educational Community Alliance Credit Union Drawings are cash prizes and may be accepted by the winner through a deposit into the account holder’s savings account . Prizes will not be deposited into the account holder’s BUCKS FOR BUCKEYES savings account, however, account holder is encouraged to consider saving part of any prize winnings by making subsequent deposits into the BUCKS FOR BUCKEYES savings account. If a winner does not claim their prize by providing the requisite information for an ACH transfer any prize winnings will automatically be deposited into the winner’s share account. All winners from the Educational Community Alliance Credit Union Drawings will be selected from among all eligible participants in the prize pool. Drawings will occur on or about the 10th of each month, or the next business day, for the previous month, quarter, and/or year for which valid entries will be determined. Additional special drawings, in amounts to be determined, may be announced from time to time. Winners will be notified via telephone, email, or standard USPS mail. Prizes are non-transferrable. Prize winnings will be reported as income on the IRS 1099 form. Educational Community Alliance Credit Union is responsible for providing this form to its members who have received a Prize from the Educational Community Alliance Credit Union Drawing.

PRIZE ELIGIBILITY. For an account holder to be eligible to win a prize in a drawing, the account holder of the BUCKS FOR BUCKEYES savings account must be open and active at all times through the drawing period. The drawing period is the prior time period’s (month, quarter, or year) corresponding time period (month, quarter, or year) for the prize drawing. For the avoidance of doubt, the drawing which would occur in April would be based on the drawing period for the corresponding and preceding month of March, defined as March 1 though March 31. The 1st Quarter prize drawing which would occur in April would be based on the corresponding and preceding drawing period for the 1st Quarter, which would be defined as March 1 through March 31 (because the program is just beginning). For purposes of the BUCKS FOR BUCKEYES program, any member who holds a BUCKS FOR BUCKEYES savings account and becomes deceased is immediately disqualified from eligibility. An account holder is only eligible to win once per prize pool; for example, an account holder, regardless of the number of entries, may only win one (1) monthly drawing per month, one (1) quarterly drawing per quarter, and (1) annual drawing per twelve (12) month savings period. If the BUCKS FOR BUCKEYES savings account is owned by more than one member, only the primary member for the account is entitled to win a prize. Before receiving any prize, an account holder must confirm eligibility by verifying their identity with the credit union. If a member with a BUCKS FOR BUCKEYES is ineligible or becomes ineligible for the prize drawing, such member will continue to be the account holder but deposits to the account will not constitute qualifying entries for the prize pools. All Prizes from the state-wide prize drawings and prizes from Educational Community Alliance Credit Union Drawings are cash prizes and may be accepted by the winner through a deposit into the account holder’s savings account an ACH transfer. Prizes will not be deposited into the account holder’s BUCKS FOR BUCKEYES savings account, however, account holder is encouraged to consider saving part of any prize winnings by making subsequent deposits into the BUCKS FOR BUCKEYES savings account. If a winner does not claim their prize by providing the requisite information for an ACH transfer any prize winnings will automatically be deposited into the winner’s share account. An estimated $17,000 in prizes will be distributed for the state-wide drawing during the entirety of 2020, which is subject to change based on credit union participation levels state-wide. All drawings and prize amounts will be listed and updated from time to time on ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ All winners and winners from the Educational Community Alliance Credit Union Drawings will be selected from among all eligible participants in the prize pool. Drawings will occur on or about the 10th of each month, or the next business day, for the previous month, quarter, and/or year for which valid entries will be determined. Additional special drawings, in amounts to be determined, may be announced from time to time. Winners will be notified via telephone, email, or standard USPS mail. Prizes are non-transferrable. Prize winnings will be reported as income on the IRS 1099 form. Educational Community Alliance Credit Union is responsible for providing this form to its members who have received a prize from the state-wide drawing and/or a Prize from the Educational Community Alliance Credit Union Drawing. A complete listing of the amounts and times of the state-wide prize drawings will be listed on the ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ consumer website and periodically updated.