Group Saving Platform Terms
These terms apply to the ENNOVA Digital Group Saving Platform and supplement the general Terms of Use. They explain ENNOVA’s technology role. They are not a banking, deposit-taking, or investment product.
ENNOVA’s role
ENNOVA provides the digital technology platform. ENNOVA maintains Member Savings Ledger and Group Ledger records in the software, and supports reconciliation, reporting, and integration readiness. ENNOVA is not a bank and does not hold customer deposits.
Records and ledgers
The platform is used to register groups and members, record savings contributions, maintain the Member Savings Ledger and Group Ledger, track loans and repayments where enabled, and produce reports. Those records reflect activity entered or imported for the operating organization.
Financial partners
Where financial institutions or payment service providers are involved, the underlying financial products and services remain subject to the relevant financial partner’s terms. Savings remuneration, if any, is subject to applicable partner agreements. ENNOVA does not guarantee interest, credit, or returns.
Credit solutions
Eligible saving groups and members may access financial-partner credit solutions subject to the financial institution’s lending criteria, terms and conditions.
Client responsibilities
The organization operating a group is responsible for the accuracy of member data, lawful use of the platform, and communications with its members. Members should review the group’s own rules in addition to these terms.