Rules for Participation 

• Must be a U.S. citizen or legal resident.
• Must be 21 years of age or older.
• Must be a Caro Federal Credit Union member or eligible to join (participants will open transactional accounts to track progress).
• Must demonstrate a genuine need for financial transformation and a commitment to reduce debt and/or build savings for goals such as retirement, tuition, or downpayment on a home. 
• Must be willing to develop a clear savings goal and track monthly progress, as well as work one-on-one with Caro’s Financial Coaching Team throughout the challenge.
• Must be willing to share your financial journey with the public via blogs, interviews, and social media.
• Must be open to print, video, and digital media appearances throughout the competition.
• Have not filed bankruptcy within the past 12 months.
• Have not caused a prior financial loss to Caro Federal Credit Union.
• Must sign necessary waivers and participation agreements.
• Involve all household members if selected.
• Employees and volunteers of Caro Federal Credit Union, and their immediate families, are not eligible to participate. Immediate family includes spouse, parents, siblings, children, stepparents, stepchildren, grandparents and grandchildren.

Selection Criteria: 

• Only completed applications will be considered.
• Thorough answering of essay questions on application.
• A review committee will evaluate applications and invite finalists for interviews. 
• Participants will be chosen based on the committee’s determination of those with the greatest need and opportunity to improve in measured categories, such as but not necessarily increasing savings balances, debt reduction, and credit score increase.
• The committee will choose Participants at its sole and absolute discretion and has no obligation to provide applicants with the reasons for not being selected as a Participant.
• If not selected, we will notify you via email or phone.

Declaring the Winner:

• The Caro Cares Challenge will last ten (10) months. The winner will be announced approximately 4-6 weeks following the end of the challenge.
• The winner will be selected based on the individual or family that earns the most points during the contest for different categories, such as debt reduction and savings growth. Percentages are weighted based on gross household income. 
• The winner is selected at the sole discretion of Caro Federal Credit Union. All decisions are final and are not subject to appeal or dispute.
• Prize – Winner will receive $3,000.00 Grand Prize. Additional prizes may be awarded for Participation improvement. Participants are responsible for all taxes related to receipt of monetary awards, and Caro Federal Credit Union is in no way responsible for the payment of such taxes.
• For winning Participant(s) to receive a payout at the end of the program, they must achieve improvement in more than two categories as well as fulfill the program participation requirements. 
• Causes for disqualification include borrowing funds or receiving a loan with the purpose of boosting account balances, or failure to adhere to or complete Participant obligations. This includes engaging in programs, completing tasks as assigned, meeting with their Financial Coach, and having negative balances or unpaid obligations with Caro Federal Credit Union. 

Program Modifications: 

• Caro Federal Credit Union reserves the right to extend, alter, or cancel this contest at any time without notice. 

Model Release Form:

By completing the Caro Cares Challenge application, applicants give consent to the following:

I (the Model) agree to the photo release and understand and agree to its terms. I understand, for good and valuable consideration, the receipt of which is hereby acknowledged, irrevocably grant to Caro Federal Credit Union, unrestricted consent and permission to copyright, use, and/or publish any photographs, portraits, video-recordings, pictures, (and the negatives, transparencies, prints, images, or digital information pertaining to them), or reproductions thereof, in color or otherwise, in still, single, multiple, moving, electronic or video format, of the Model, or in which the Model may be included in whole or in part, made through any media, for advertising, commercial, or any other lawful purpose (including posting onto social media sites). Any such image may be composite, manipulated, distorted, or digitally altered in form. 

I waive the rights to inspect or approve the copy that may be used in connection with any such image of the Model, the use to which it may be applied, or the final product.

I release Caro Federal Credit Union from any claims for remuneration associated with any form of damage, foreseen or unforeseen, associated with the proper advertising, commercial, or artistic use of such images, unless it can be shown that said reproduction was maliciously caused, produced and published for the sole purpose of subjecting the Model to conspicuous ridicule, scandal, reproach, scorn, and indignity.

I acknowledge that the photography session was conducted in a completely proper and highly professional manner, and this release was willingly signed at its termination. I acknowledge and certify that I have freely given my consent.

For more information, please write to us at: 

Caro Federal Credit Union
44880 Rosewood Drive
Columbia, SC 29209