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NOTICE
See
below for important information regarding your rights to dispute
billing errors.
In this
Agreement the words "you" and "your" mean
each and all of those who sign the application. Card means a
VISA credit card and any duplicates and renewals the Credit Union
issues. Account means your VISA credit card line of credit account
with the Credit Union. Credit Union means the Credit Union whose
name appears in this Agreement.
1.
Using the Account. If you are approved for a VISA accounts,
the Credit Union will establish a line of credit for you and
notify you of its amount when the card is sent to you. You agree
not to let your account balance exceed your approved credit limit.
Each payment you make on the account will restore your credit
limit by the amount of the payment which is applied to this principal
amount of purchases and cash advances. You may request an increase
in your credit limit only by written application which is approved
by the Credit Union. The Credit Union has the right to reduce
or terminate your credit limit at any time.
2.
Using the Card.
You may use the card issued to you to make purchases in person,
and by mail or telephone from merchants and others who accept
VISA cards. In addition, you may obtain cash advances form the
Credit Union, from other financial institutions participating
in the VISA program and from automated teller machines (ATMs),
such as VISA ATM Network, that provide access to the VISA system.
(Not all ATMs provide such access.) You will need to use your
Personal Identification Number (PIN) to obtain a cash advance
from an ATM.
3.
Responsibility.
You agree to pay all charges (purchases and cash advances) to
your account made by you or anyone whom you authorized to use
your account. Your obligation to pay the amount owed on your
account continues until paid in full even though an agreement,
divorce decree or other court judgment to which the Credit Union
is not a party may direct someone else to pay the account balance.
If more than one person signs the application, each is individually
responsible for all amounts owed on he account and all are jointly
responsible for all amounts owed. This means the Credit Union
can enforce this agreement against any of you individually or
all of you together.
4.
Grace Period.
In order to avoid a finance charge on purchases made since your
last statement date, you must pay the Total New Balance shown
on your statement within 25 days of the statement closing date.
Otherwise finance charge on purchases is calculated from the
beginning of the next statement period on previously billed but
unpaid purchases and on new purchases from the date they are
posted to your account. Cash advances are always subject to finance
charge from the date they are posted to your account.
5.
Finance Charges. The
finance charge (interest) on purchases and cash advances is calculated
at the periodic rate of 1.2917% per month which is an ANNUAL
PERCENTAGE RATE of 15.5%. Separate finance charges for purchases
and cash advances are determined by multiplying the periodic
rate by the separate average daily balances for purchases and
cash advances. Each average daily balance is determined by taking
the beginning balance (of cash advances or purchases) in your
account each day, adding any new purchases or cash advances (whichever
is applicable) and subtracting any payments or credits. the results
are the daily balances. All the daily balances for the statement
cycle are added and the total is divided by the number of days
in the statement cycle to arrive at the average daily balance
for the cycle.
6.
Other Charges.
The following other charges will be added to your account, as
applicable:
a) Return Share Draft/Check Fee: If you pay with a share draft/check
and your financial institution (Credit Union/Bank) will not honor
it, or we must return it for any reason, we have the option of
charging to your account a return share draft/check fee of $15.00.
b) Application Fee: A one-time application fee of $5.00.
c) Card Replacement Fee: A $5.00 fee will be charged for issuing
a new card prior to expiration at the member's request.
7.
Monthly Payment.
Each month you must pay at least the minimum payment shown, on
your statement within 25 days of the statement closing date.
You may, of course, pay more frequently, pay more than the minimum
payment, or pay the Total New Balance in full. If you make extra
payments or larger payments, you are still required to make at
least the minimum payment each month your account has a balance.
The minimum payment is 3% of your Total New Balance but not less
than $25.00, plus the amount of any prior minimum payments that
you have not paid. In addition, at any time your Total New Balance
exceeds your credit limit, you must immediately pay the excess
upon demand. The Credit Union has the right to allocate your
payment in the order it sees fit.
8.
Security Interest. If you give the Credit Union a specific
pledge of shares by signing a separate pledge of shares for this
account, your account will be secured by your pledged shares.
9.
Default.
You will be in default if you fail to make any minimum payment
or other required payment by the date that it is due. You will
be in default if you break any promise you make under this Agreement.
You will be in default if you die, file for bankruptcy or become
insolvent, that is, unable to pay your obligations when they
become due. You will be in default if you make any false or misleading
statements in any credit application or credit update. You will
also be in default if something happens which the Credit Union
believes may substantially reduce your ability to repay what
you owe. When you are in default, the Credit Union has the right
to demand immediate payment of your full account balance without
notice. If immediate payment is demanded, you will continue to
pay finance charge, at the periodic rate charged before default,
until what you owe has been paid, and any shares that were given
as security at the Credit Union's collection expenses, including
court costs and reasonable attorney's fees.
10.
Liability for Unauthorized Use. You may be liable for the unauthorized
use of your credit card. You will not be liable for unauthorized
use that occurs after you notify the Credit Union orally or in
writing, of the loss, theft, or possible unauthorized use. In
any case, your liability will not exceed $50.
11.
Lost Card Notification. If you believe your credit card has been
lost or stolen, immediately inform the Credit Union by calling:
1-724-654-8485 or 1-800-991-4961 after regular business hours.
12.
Changing or Terminating Your Account. The Credit union may change the
terms of this Agreement from time to time after giving you any
advance notice required by law. Your use of the card after receiving
notice of a change will indicate your agreement to the change.
To the extent the law permits, and indicated in the notice to
you, the change will apply to your existing account balance is
well as to future transactions.
Either the Credit Union or you may terminate this Agreement at
any time, but termination by you or the Credit Union will not
affect your obligation to pay the account balance plus any finance
and other charges you owe under this Agreement. The cards you
receive remain the property of the Credit Union and you must
recover and surrender to the credit union all cards upon request
or upon termination of this Agreement whether by you or the Credit
Union.
13.
Credit Information. You authorize the Credit Union to investigate
your credit standing when opening or reviewing your account.
You authorize the Credit Union to disclose information regarding
your account to credit bureaus and creditors who inquire about
your credit standing.
14.
Returns and Adjustments. Merchants and others who honor the card
may give credit for returns or adjustment, and they will do so
by sending the Credit Union and credit slip which will be posted
to your account. If your credits and payments exceed what you
owe the Credit Union, the amount will be applied against future
purchases and cash advances. If the amount is $1 or more, it
will be refunded upon your written request or automatically after
six months.
15.
Foreign Transactions. Purchases and cash advances made in foreign
countries and foreign currencies will be billed to you in U.S.
dollars. The conversion rate to dollars will be at (i) the wholesale
market rate or (ii) the government-mandated rate, whichever is
applicable, in effect one day prior to the processing date, increases
by one-percent.
16.
Merchant Disputes. The Credit union is not responsible for
the refusal of any merchant or financial institution to honor
the card. The Credit Union is subject to claims and defenses
(other than tort claims) arising out of goods or services you
purchase with the card if you have made a good faith attempt
but have been unable to obtain satisfaction from he merchant
or service provider, and (a) your purchase was made in response
to an advertisement the Credit Union sent or participated in
sending to you; or (b) your purchase cost more than $50 and was
made in your state or within 100 miles of your home.
17.
Effect of Agreement. This agreement is the contract which applies
to all transactions on your account even though the sales, cash
advances, credit or other slips you sign or receive may contain
different terms.
18.
No Waiver.
The Credit Union can delay enforcing any of its rights any number
of times without losing them.
19.
Statements and Notices. Statements and notices will be mailed to
you at the most recent address you have given the Credit Union.
Notice sent to anyone of you will be considered notice to all.
20.
Copy Received. You
acknowledge that you have received a copy of this Agreement when
you signed the application.
YOUR
BILLING RIGHTS
KEEP
THIS NOTICE FOR FUTURE USE
This notice contains important information about your rights
and our responsibilities under the Fair Credit Billing Act.
Notify Us In Case of Errors or Questions About Your Bill
If
you think your bill is wrong, or if you need more information
about a transaction on your bill, write us on a separate sheet
at the address listed on your bill. Write to us as soon as possible.
We must hear from you no later than 60 days after we sent you
the first bill on which the error or problem appeared. You can
telephone us, but doing so will not preserve your rights.
In your letter, give us the following information:
- Your
name and account number
- The dollar
amount of the suspected error
- Describe
the error and explain, if you can, why you believe there is an
error
- If
you need more information, describe the item you are not sure
about.
If you
have authorized us to pay your credit card bill automatically
from your savings or share draft account, you can stop the payment
on any amount you think is wrong. To stop the payment your letter
must reach us three business days before the automatic payment
is scheduled to occur.
Your
Rights and Our Responsibilities
After We Receive Your Written Notice
We must acknowledge your letter within 30 days, unless we have
corrected the error by then. Within 90 days, we must either correct
the error or explain why we believe the bill was correct.
After we receive your letter, we cannot try to collect any amount
you question, or report you as delinquent. We can continue to
bill you for the amount you question, including finance charges,
and we can apply any unpaid amount against your credit limit.
You do not have to pay any questioned amount while we are investigating,
but you are still obligated to pay the parts of your bill that
are not in question.
If we find that we made a mistake on your bill, you will not
have to pay any finance charges related to any questioned amount.
If we didn't make a mistake, you may have to pay finance charges,
and you will have to make up any missed payments on he questioned
amount. In either case, we will send you a statement of the amount
you owe and the date that it is due.
If you fail to pay the amount that we think you owe, we may report
you as delinquent.however, if our explanation does not satisfy
you and you write to us within ten days, telling us that you
still refuse to pay, we must tell anyone we report you to that
you have a question about your bill. And, we must tell you the
name of anyone we reported you to. We must tell anyone we report
you to that the matter has been settled between us when it finally
is.
If we don't follow these rules, we can't collect the first $50
of the questioned amount, even if your bill was correct.
Special Rule for Credit Card Purchases
If you have a problem with the quality of property or services
that you purchased with a credit card, and you have tried in
good faith to correct the problem with the merchant, you may
have the right to not to pay the remaining amount due on the
property or services. There are two limitations on this right:
(a) You must have made the purchase in your home state or, if
not within your home state, within 100 miles of your current
mailing address; and
(b) The purchase price must have been more than $50.
These limitations do not apply if we own or operate the merchant,
or if we mailed you the advertisement for the property or services.
"The
preceeding disclosures were posted January 31, 2000
and were accurate as of that date.
Rates and terms are subject to change.
Please contact the credit union at 724-654-8485
for any changes since the terms were posted."
Your
savings federally insured to at least $100,000 and
backed by the full faith and credit of the United States Government
National Credit Union Administration
A U.S. Government Agency
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