Education Donation Program FAQs
The following are frequently asked questions about SCCU’s Education Donation Program Please contact the Member Service Center if you have any additional questions about this program:
Brevard: 321-752-2222, option 5 • Toll-Free: 800-447-SCCU, option 5
Frequently Asked Questions
- What is the Education Donation Program?
- What is the purpose of the Education Donation Program?
- Where do the donations go?
- How much is the point donation worth?
- Are there any limits?
- Can I donate with my Platinum Visa Credit card AND my Visa Debit card?
- Who can SCCU cardholders donate to?
- Does the recipient have to be an SCCU member?
- Can a teacher register him/her self as a recipient?
- How do SCCU cardholders register and update recipients in the program?
- How will schools, teachers, and organizations track their available donations?
- How can recipients redeem their available donations?
- Does the donation ever expire?
- What if a recipientís name changes?
- Program Rules and Limitations
What is the Education Donation Program?
Space Coast Credit Union’s Education Donation Program allows SCCU members to donate a portion of their Visa® Platinum Credit Card ScoreCard Rewards Points® to public or private schools and home school instructors in the communities we serve. Individual teachers or advisors and officially recognized clubs, teams, and organizations within the schools, including music and drama departments, may be designated to receive your donation. 100% of your donation goes directly to the recipients you choose. Nothing is deducted for administrative expenses or other costs.[Back to the top]
What is the purpose of the Education Donation Program?
The program is designed to reimburse educators and school organizations for personal funds spent on school-related expenses that are not eligible for payment under the schoolís budget.
A typical teacher in Florida spends approximately $400 - $500 a year in personal funds to purchase supplies that are needed in the classroom. New teachers often spend twice that amount their first year on the job.[Back to the top]
Where do the donations go?
Once registered in the program by an authorized SCCU Platinum Visa Credit card holder, donated points will be converted to a cash equivalent, and accrued in a non-interest bearing SCCU Education Donation account in your recipient’s name until redemption or expiration according to the Program rules.
Recipients can redeem their donated funds by submitting a completed and signed School Expense Redemption Form at any SCCU branch (See “How can recipients redeem their available donations?” for details).[Back to the top]
How much is the point donation worth?
The current point conversion rate can be found on the Education Donation home page. As of November, 2008, the conversion rate is 1.3 cents per point. Example: A donation of 500 points during a month will result in a cash donation of 500 x $.013, or $6.50, for that month.[Back to the top]
Are there any limits?
Donors: A maximum of 500 points will be deducted from your net monthly points earned for the Education Donation Program. The 500 point monthly maximum is across all recipients (i.e. if you split your points between two recipients, up to 250 points will be given to each recipient). For example, if you earn 2,000 points in a month and signed up to donate 75%, the maximum 500 points would be donated to your recipient(s).
Recipients: There is no limit to how much an individual recipient can receive. For example, if 5 SCCU cardholders donate the current maximum amount per year to Matanzas High School Pirates Football, the team will receive 5 x $78, or $390.[Back to the top]
Can I donate with my Platinum Visa Credit card AND my Visa Debit card?
As of May 1, 2010, only Platinum Visa Credit cards may donate to the Education Donation Program. Learn more about the change to the consumer debit card rewards program.
You may donate using more than one SCCU Visa Platinum Credit card, however. Donations are made at the card level, not the member or account level. For example: If you have a joint Platinum credit card account with two cards issued, you and your joint holder can donate with both cards. You simply have to submit one Recipient Registration and Cancellation Form for each card. (In this example, 2 forms would be required.)
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Who can SCCU cardholders donate to?
- All Florida public and non-public schools and home school instructors in Brevard, Volusia, Flagler, Indian River, Orange, Osceola, St. Lucie, and Seminole counties.
- Facilities with a terminal grade of Kindergarten are not eligible for this program (i.e., preschools that feature PreK Ė K programs only).
You may make your donation to the school itself, an individual teacher or guidance counselor, or a recognized organization within the school. For example, you may register Satellite High School, the Satellite High School Music Department, the Satellite High School PTO, or an individual teacher at the school.[Back to the top]
Does the recipient have to be an SCCU member?
Recipients DO NOT have to be SCCU members to receive funds.[Back to the top]
Can a teacher register him/her self as a recipient?
Yes, if he/she is an SCCU member and carries an SCCU Platinum Visa® Credit card.[Back to the top]
How do SCCU cardholders register and update recipients in the program?
To register a recipient, you must:
- be an authorized holder of an SCCU Platinum Visa® Credit card
- complete a “Recipient Registration and Cancellation Form” and submit it to SCCU as noted below. You may obtain a form at any SCCU branch, download a printable version, or register your recipient(s) using our secure online form. A complete program disclosure is available from any SCCU branch or the Member Service Center.
You may designate up to 5 recipients. You may donate 10%, 25%, 50%, or 75% of your total ScoreCard Rewards points earned each month (up to 500 total points per month total across all recipients). SCCU will automatically calculate the number of points to be donated each month and distribute it evenly among all the recipients you register. A maximum of 500 points can be donated each month (see “limits” detail above).
Your donation will be deducted from your ScoreCard Rewards points monthly and credited to the accrual accounts of the recipients you have registered. The points deducted will be calculated based on your purchase activity for the month. PLEASE NOTE that your donation will be based on purchase activity that occurs AFTER your recipient has been registered in the Education Donation program. Any points that you have accrued prior to registering a recipient will not be used in calculating your donation.
Once registered by you, the percentage you designate will move to the recipient(s) each month until you cancel or update the donation in writing by submitting a new “Recipient Registration and Cancellation Form.” To stop all donations, submit a form that says “All recipients” and has “0%” as the amount to donate.
Note: Donated points cannot be returned to your account.
Each time you submit a Registration form, the information on that form will replace any information previously submitted.
Bring the completed, signed form to any SCCU branch, or mail or fax to: Space Coast Credit Union, Operations Department, P.O. Box 419001, Melbourne, FL, 32941-9001 FAX: (321) 242-3338. Allow up to 30 days to process the information submitted.
Once SCCU has processed your recipient registration, you will receive a notice confirming your registration.[Back to the top]
How will schools, teachers, and organizations track their available donations?
A monthly summary statement will be produced for each school or home school group with registered recipients and mailed to the school principal, headmaster, or home school support group leader. Monthly statements will also be sent to individual recipients at each school during the regular school year.[Back to the top]
How can recipients redeem their available donations?
- The Education Donation statements delivered to the schools serves as an expense redemption form and includes redemption instructions. Recipients should sign the statement where indicated and bring the signed statement, along with appropriate I.D, to any SCCU branch.
- Present the signed statement to the teller along with an employee ID issued by the district or school. Home school instructors may present personal photo ID in lieu of school ID.
- The recipient must bring the completed, signed form to any SCCU branch in person. No third party redemptions.
- Mailed redemption requests can be submitted by following the instructions on the statement.
- Recipients will receive immediate payment for submitted expenses in the form of a check made payable to the registered recipient. “All school” redemptions, such as to Satellite High School, will be made payable to the school. “Organization” redemptions, such as to Satellite High School PTO, will be made payable to the organization. Payments will not be made to a name that is different from the name on the account.
- The accrual account will be automatically adjusted to reflect the expenses paid out.
Does the donation ever expire?
Unredeemed accruals will expire thirteen (13) months from the date of transfer from the donor’s SCCU account. For example, balances credited to a recipient’s accrual account in December, 2008 will expire in February, 2010.[Back to the top]
What if a recipientís name changes?
If a recipient wishes to change the name on the accrual account due to marriage, divorce, etc., a name change request can be made in person at any SCCU branch using their most recent statement or an Education Donation School Expense Redemption Form. The reason for the request must be indicated on the form, and the request must be accompanied by a supporting document, such as a marriage license. The Form will be forwarded to SCCU’s Operations Department for processing.[Back to the top]
This program is subject to change or cancellation without notice.
The information above is offered to you in the portable document format. In order to view and print pdf files, you will need Adobe® Acrobat® ReaderTM (a free software)