1. What these Rules are.
These Club Rules set out how Savings Club Auto Trust 1 Irrevocable is run day to day: when vouchers are awarded, how you pay, how you change or transfer a membership, and how a voucher becomes a vehicle. Every Club has its own Club Rules. These form part of the Savings Club Membership Agreement of every member of Savings Club Auto Trust 1 Irrevocable, under its Section 20.8. They are also the Club Rules for any Covered Membership in Savings Club Auto Trust 1 Irrevocable under a Corporate Fleet Membership Agreement.
2. What protects you.
(a) Your rights and your money stay in your agreement.
What you pay, your Voucher Value, your term, your fees, what comes back to you when you leave, and your rights in the Trust are all set by your Membership Agreement. These Rules never change them.
(b) Your Club's Board sees every change first.
Once seated, your Club's Member Governing Board receives each proposed change before you do and may reject it, in whole or item by item, within 15 days by majority vote. A rejected item never reaches you. A change that passes comes to you with at least 30 days' notice and the date of the Board's review. The Board is made up of your Club's own members, or is an interim board under Section 2.4(h)(ii) of your agreement. The Board may propose changes to the Company, and any member may suggest one by writing to contact@savings.club. Until a Board sits, Section 3 applies.
(c) Every change is made in the open.
A change takes effect 30 days after written notice to your Club's members, or on a later date the notice states. Each notice says in plain words what changes and why. That is the same notice a change to your agreement needs under Section 20.5. Every version stays published at its own dated address, so you can always read the version that applied on any date.
(d) No change reaches backwards.
A change never applies to anything that happened before it took effect.
(e) No change can cost you money.
No change may raise a payment or fee you owe, or lower your Voucher Value or any amount your agreement pays you. No change may alter your rights in the Trust, close your right to transfer, or take away a membership change you are already using.
(f) A transfer in progress is safe.
A transfer you started before a change takes effect finishes under the Rules in force when you started it.
(g) Your agreement comes first.
Where these Rules and your agreement differ, your agreement governs, except on a matter your agreement leaves to these Rules. These Rules never change a Financing Contract.
3. How these Rules change.
The Company's board of directors sends each proposed change to your Club's Member Governing Board in writing, with a plain summary of what changes and why. Within 15 days, the Board may reject it, or any item in it, by a majority of its seated members. Every item the Board has not rejected when the 15 days end stands approved. The Company then publishes the approved items and gives every member of your Club at least 30 days' written notice, stating the date of the Board's review, and the change binds every member. An interim board serving under Section 2.4(h)(ii) of the Membership Agreement counts as the Board. While your Club has no Board, a change is published on the notice to members alone. Within 15 days after it first sits, the first Board may, by majority vote and by written request to the Company, reverse any change published while no Board sat. A reversal applies from then on. A change required by law, or needed at once to protect the Common Fund, may take effect on publication for up to 90 days while it goes through this process, with notice to the Board and to you at once, and lapses then unless adopted. Each version is signed by an authorized officer of the Company.
4. Your Club, its Board and its trust.
(a) The Board.
Savings Club Auto Trust 1 Irrevocable is governed by its own Member Governing Board, under Section 2.4 of your agreement. Under Section V.01 of the trust agreement, the Board is also the Trust Protector of your Club's trust. As Protector, it can audit the trust's distributions, replace the trustee, and remove the Company as Trust Advisor for cause. Through the Board, your Club's members oversee the trust.
(b) Who joins.
Clubs may be formed for different classes of members, such as individuals and business entities. A limited number of entity members may join a Club made up mostly of individuals. If entity members come to change the risk pool for the individual members materially, the Company may stop enrolling new entity members in that Club. It may also open a separate Club for entity members, under a substantially similar agreement, and move them into it. Members are moved between Clubs only to protect the members of a Club, such as by keeping individual and business members in separate risk pools. Each move rests on an objective, data-driven analysis that the notice explains. A member moved to another Club goes into a Club under a substantially similar agreement, whose Common Fund is held in trust. The member is told at least 30 days ahead and keeps every contribution, payment and term in full. The member also keeps their relative standing, measured the way Section 18.1 of the agreement measures it for a merger.
(c) The trust.
The Common Fund of Savings Club Auto Trust 1 Irrevocable is held by Savings Club Auto Trust 1 Irrevocable Trust dated December 19, 2025, an irrevocable Wyoming trust, with Jackson Hole Trust Company as trustee. A Club's name and its trust's name can differ. A trust may hold more than one Club for a time. Each Club's Common Fund is always kept separate, in its own accounting, and is used only for that Club's members.
(d) Where the money sits.
Savings Club does not own that money. As Trust Advisor, it directs the trustee within the limits of the trust agreement. While it waits to be used, the money in the Common Fund sits in an FDIC-insured account at U.S. Bank. Once a voucher is used, that money is no longer on deposit. It is secured by a lien on what it bought. Savings Club is not a bank. FDIC insurance covers only the failure of U.S. Bank, and only when the conditions for pass-through coverage are met.
5. Paying.
During Phase 1, you may pay by credit card, debit card or ACH. ACH and at least one card method are always available, as Section 4.3 of your agreement guarantees. Paying by ACH has a more positive effect on your Savings Score. A Credit Voucher can be awarded before you have paid by ACH. It can be used only after at least one ACH payment of yours has cleared. You can see every transaction on your membership in the app. Card processing fees and the rules for Phase 2 payments are in Section 4.3 of your agreement.
6. The Voucher Selection.
Credit Vouchers are awarded by Savings Score at the Voucher Selection, which runs at least once each month, except while voucher issuance is paused under Section 3.4(a)(ix) or Article XIX of your agreement. Today it runs once each month. It runs on the 15th day of the month at 6:00 PM Central Time. When the 15th falls on a weekend or a day the Federal Reserve Banks are closed, it runs the next day they are open, at the same time. Payments that have settled by then count toward it. The factors behind the Savings Score are published at https://savings.club/savings-score-factors, under Section 6.1 of your agreement.
7. Special Vouchers.
Money left in the Common Fund after a Voucher Selection that cannot fund a full Voucher waits for the next Voucher Selection. If it still cannot fund a full Voucher then, it may be awarded as a Special Voucher for that amount, when both of these hold:
(a) the Company forecasts, and records for the Board, that the award will not reduce the full Vouchers expected, at the following Voucher Selection, for members who are current; and
(b) it goes to the member, current and not yet awarded, who has made the most full payments and for whom that amount is enough. Between equals, the membership signed earlier goes first.
A full payment is one scheduled installment paid in full. Two half payments count as one.
8. Financial education.
The Company is building a financial education program to help members prepare for financing. Taking part can count toward your Savings Score, as Section 6.1 of your agreement provides. It is never a condition for receiving or using a voucher.
9. Changing your membership.
Before you are awarded a Credit Voucher, you may ask for these changes, subject to approval and the Modification Fee in Section 5.5 of your agreement:
(a) adjust your Voucher Value or Membership Term;
(b) start a Membership Freeze or the Half-Payment Option; or
(c) switch your payment cycle between monthly and weekly.
Rebalancing between the Common Fund and your Individual Holding Account stays available under Section 3.3(c) of your agreement. Once you have been awarded a Credit Voucher, the terms of your financing are fixed, and these changes are no longer available.
10. Ending a membership.
Your membership is a long-term commitment. Your payments fund other members' vehicles today, and theirs fund yours. The terms for ending a membership are in Sections 4.5, 7.2, 7.3 and 7.5 of your agreement. These Rules never change them.
(a) Stopping payments is abandonment.
It is not the same as cancelling your agreement. Your contributions fund vehicles other members bought, or wait in the Common Fund to fund the next ones. They come back only as the Common Fund allows, under your agreement.
(b) Abandonment affects the members who stay.
Their awards slow down when payments stop. Your agreement sets the consequences.
(c) Your obligations continue.
Until everything due under your agreement is settled, your responsibilities stay in place, including keeping your contact details current and responding to the Company about your account.
(d) A transfer is the better way out.
It passes your membership to a buyer, who pays you through the marketplace.
11. Transferring.
You may sell your membership to another person through the Savings Club marketplace, at the price you and the buyer agree. The Company's right of first refusal and the transfer fees are in Sections 5.6 and 7.4 of your agreement. A transfer runs in these steps:
(i) a buyer who has passed the Company's standard underwriting makes you a formal offer;
(ii) when you accept the offer, the proposed transfer goes to final review;
(iii) subject to the Company's right of first refusal, a three-day communication and authorization period begins, in which the Company gives you and the buyer a secure channel to talk; and
(iv) at the end of that period, the transfer goes ahead only if you authorize it. You may decline any buyer for any reason, as Section 7.4 of your agreement guarantees.
12. From voucher to vehicle.
Because a voucher is funded from your Club's shared money, every purchase follows these safeguards. They protect you, the Club and every member.
(a) The vehicle.
It must meet reasonable standards for age, mileage and title history, set by the Company, so that its value protects the Common Fund. A branded title does not qualify: salvage, rebuilt, flood, water damage, theft recovery, or any other brand that lowers the vehicle's value.
(b) The dealer.
It must be a licensed and reputable motor vehicle dealer. Private-party sales cannot be financed.
(c) The state.
The vehicle must be bought from a dealer in, and registered in, a state where the Company is licensed to operate. The current list is at https://savings.club/coverage.
(d) A final review.
Just before funding, the Company confirms only that your membership is in good standing and that your risk profile has not changed materially for the worse.
(e) The lien.
The Company works directly with the dealer. Funds leave the Trust only after the Company holds the paperwork that secures its lien on the vehicle's title, as Section 8.1 of your agreement requires.
13. Notices and contact.
Notices go to the email or physical address you gave, under Sections 14.3 and 20.2 of your agreement. If an email bounces, the Company contacts you by text message to fix it, and mails the notice only when you cannot be reached another way. To reach the Company, write to contact@savings.club.