The amount of interest saved will be calculated by subtracting the total amount of interest paid over the term of the new save & share loan from the total amount of interest paid on the existing loan. All finalized loan interest savings will be added together until $2,000,000 in combined interest savings is reached. Loans must be refinanced from another financial institution to qualify for the save and share charity challenge.
Anyone 18 or older who is eligible to apply for a loan at AFCU is eligible to vote for one of the charities listed. Only 1 vote per month, per computer will be allowed. A total of $11,000 will be donated to the participating charities by Altana Federal Credit Union. Altana Federal Credit Union will award $5000 to the charity with the most online votes. The second place charity will be awarded $2500. The third place charity will be awarded $1500 and the remaining two charities will be awarded $1000 each. The Charity Challenge will end on or before December 31, 2013, or however long it takes to reach the $2,000,000 in combined savings. Charitable organization’s prizes will be paid as a check payable to the organization. The charities listed have given Altana Federal Credit Union the right to use their logos and images for the purposes of this challenge. No altering is permitted.