To make Healthcare Sharing convenient and efficient, REDEEM™ HealthShare Ministry utilizes a technology platform called a Virtual Share Exchange (“VSE”). The VSE enables all REDEEM HealthShare members to participate in the Healthcare Sharing process electronically, as well as to monitor the transactional activities of their individual share accounts and the community at large. Your REDEEM HealthShare membership requires that you activate your own Share Account and enable the Virtual Share Exchange to administer the sharing process on your behalf. By activating your Share Account and accepting the Virtual Share Exchange “Terms and Conditions” and Disclosures, you have given REDEEM HealthShare, and its Service Agents express permission to conduct financial transactions necessary for the administration of the program on your behalf.
A. Share Account
To participate in the REDEEM HealthShare Community, all members must activate a Share Account on the Virtual Share Exchange Platform. Your Share Account is a virtual account, and all deposited funds are received by America’s Christian Credit Union located in Glendora, CA which holds them “For the Benefit of REDEEM HealthShare Members”. The Share Account will display your account balances, sharing transaction history and other relevant information. The money in your Share Account is insured and is fully controlled by you except as described herein.
To activate your Share Account, you will be required to provide the necessary personal information to comply with U.S. Banking Regulations (e.g. “Know Your Customer” KYC). Once your information is submitted and verified, you will be required to link your Share Account to one of your External Bank Accounts, such as Bank of America or Wells Fargo. Each month, you will fund your Share Account with an EFT (electronic funds transfer) from your External Bank Account.