
Complete Sweepstakes Rules and Important Information
SCCCU Rate Match Sweepstakes
November 1, 2024 – January 30, 2025
NO PURCHASE NECESSARY
The Sweepstakes is open to Santa Cruz Community Credit Union (SCCCU) members and begins November 1, 2024, and ends January 31, 2025. There are two ways to enter the Sweepstakes:
- Automatic Entry: When the Credit Union cannot drop a member’s non-SCCCU auto loan rate by at least 1.00% (with a minimum floor rate of 6%), the member’s name will automatically be entered into a drawing for $1,000. Here are the rules for the Rate Drop Challenge:
- Must be an existing credit union member or become a member at the time of application.
- The auto loan must be from another financial institution; current SCCCU loans are not eligible for refinancing through this promotion.
- The proposed auto loan must be current and have no recent delinquency.
- The promotion applies to personal-use vehicles (no commercial or recreational vehicles).
- SCCCU will beat the current rate on the member’s auto loan from another lender by up to 1.00%, with a minimum floor rate of 6% (including the auto repayment discount of .25%), and includes cash out.
- The Rate Drop Challenge is based on the submitted documentation of the existing loan rate, including term length, balance, and current monthly payment.
- SCCCU reserves the right to verify the existing rate and loan terms before applying any rate reduction. The loan is subject to SCCCU’s credit and underwriting standards. The member must meet and accept all loan terms and conditions (including rates) to finalize the refinancing process.
- If SCCCU cannot beat the rate as described above, the member’s name will be entered into the Rate Drop Challenge $1,000 Sweepstakes. The individual must be a member to win the $1,000 Rate Drop Challenge Sweepstakes prize.
- One entry per member, regardless of the number of loan applications or refinancing attempts.
- By Mail: To receive an entry, print your name, address, email address, the last three digits of your SCCCU membership number, and day and evening phone numbers on a 3” x 5” card, and mail it to: “SCCCU Drop Your Rate Sweepstakes, Attn: Marketing Department, 55 River Street, Santa Cruz, CA 95060. Must be received no later than 5 p.m. (Pacific) on January 31, 2025. Limit one mail-in entry per membership number, and it cannot be in addition to an automated entry through refinancing a qualifying auto loan. In addition, limit one mail-in entry per stamped envelope. No mechanical reproductions or other automated means of entry are permitted. SCCCU is not responsible or liable for lost, stolen, mutilated, incomplete, illegible, misdirected, or non-delivered entries. All entries become the property of SCCCU and will not be returned.
The drawing will be held approximately two weeks after the end of the Sweepstakes period, or no later than February 14, 2025. The odds of winning depend upon the total number of eligible entries received.
The Grand Prize will be awarded as follows:
One winner will be drawn to win $1,000. The $1,000 prize will be deposited into the member’s SCCCU checking or savings account (excluding any Certificate of Deposit). The winner will be notified by a Branch Manager or member of the Marketing team by telephone or email (or both) no later than Friday, February 14, 2025.