Sunward+ Quantum Tier Terms and Conditions
Eligibility Requirements: Sunward+ Quantum benefits
(“Benefits”) are available to Sunward members who meet the requirements,
which include having an active Sunward checking account and being an
active employee or retiree of Sandia National Laboratories, with NTESS
payroll or retirement benefits directly deposited into their primary
account. If these eligibility requirements are not met monthly, members
will be disenrolled from the program and will need to re-enroll. Additionally,
if your Sunward membership was associated with Sandia National Laboratories
prior to November 12, 2024, you will qualify if you meet the other requirements.
After November 12, 2024, you must be an active employee or retiree of
Sandia National Laboratories and meet the qualifications.
Benefit Definitions:
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Active Checking Account:
A checking account that has at least one qualifying debit transaction
per month (point of sale, check, bill pay, ACH debit, ATM transaction).
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Active Employee or Retiree:
An individual currently employed by Sandia National Laboratories
receiving regular payroll deposits, or a former employee of Sandia
National Laboratories who is receiving retirement benefits, directly
deposited into their primary account.
-
NTESS Payroll/Retirement:
Payroll or retirement benefits from Sandia National Laboratories
(NTESS) must be directed to the member’s primary account.
Fee Waivers: Fees for applicable services (e.g.,
cashier’s checks, money orders, check orders, account maintenance
fees, etc.) are waived or refunded monthly, contingent upon meeting
the applicable eligibility requirements. Refunds are credited to the
member’s primary checking account on the last day of each month.
Auto Loan Incentive: The cash incentive for new
auto loans over $15,000 is paid in monthly installments over the
loan term and will be credited to the primary checking account on
the first day of each month. Early repayment of the loan results in
the remaining incentive being credited in full to the primary
checking account on the first day of the month following the payoff.
Internal refinances do not qualify. Incentive is non-transferable
and is only available once per loan agreement.
Home Buying Credit: The $2,000 closing cost credit
applies to new Sunward mortgage loans over $50,000 for primary
residences only. Home equity lines of credit and investment
properties are not eligible. Closing credits are applied at the time
of loan funding. This credit is non-transferable and is limited to
one credit per property.
Credit Card Offer: The $100 statement credit is
only available for new Visa Signature or Visa Platinum Rebate
cardholders after spending $1,500 in the first 90 days of account
opening. Purchases must be posted to the account within the 90-day
period to qualify. Balance transfers, cash advances, and fees do not
count toward the $1,500 spending requirement. Offer limited to new
cardholders only.
Tax Implications: All cash incentives, statement
credits, and other financial Benefits offered through Sunward+ may
be considered taxable income and may be reported to the Internal
Revenue Service (IRS). Members are responsible for any taxes
associated with receiving these Benefits. Nonresident alien
individuals participating should have a current IRS Form W8-BEN on
file with Sunward, if applicable, or otherwise be subject to backup
withholding.
Limitations and Restrictions: To remain enrolled in
Sunward+, accounts must remain in good standing or will be
automatically disenrolled from the program. Benefits do not extend
to business accounts, or other special account types (e.g., trust,
estate, custodial accounts). Accounts must be in good standing to
enroll in Benefits. Improperly granted credits may be removed from
Sunward accounts and loans at our sole discretion. This includes but
is not limited to credits that were issued in error, obtained
through fraudulent means, or not in accordance with the program
terms and conditions. All Benefits, incentives, and fee waivers are
subject to change or cancellation at the discretion of Sunward.
Sunward reserves the right to modify or terminate the Sunward+
program at any time without notice. If the program is terminated,
accrued Benefits or incentives will not be forfeited. By
participating in the Sunward+ program, members agree to all program
terms and conditions. Sunward is not liable for any indirect,
incidental, or consequential damages resulting from the use or
inability to use the program Benefits. Members will be notified of
any changes to the Sunward+ program terms and conditions.
