IH Mississippi Valley Credit Union
CREDIT CARD AGREEMENT
The person who signed a Credit Card Application
with IH Mississippi Valley Credit Union and whose name
is embossed on a Credit Card issued by IH
Mississippi Valley Credit Union, agrees to the following
terms and conditions in this Credit Card Agreement.

CREDIT CARD AGREEMENT
Notice: See reverse side 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 apply for the card or who sign the Credit Card  
application. Card means the Credit Card and any duplicates and 
renewals we issue. Everyone who receives, signs or uses a card 
issued under this Agreement must be a member of this credit union. 
Account means your Credit Card Line of Credit account with us. 
We, Us and ours means IH Mississippi Valley Credit Union.

1. Responsibility. Use of the Card or Account will signify 
acceptance of the terms of the Credit Card Agreement. If we issue 
you a card, you agree to repay all debts, including purchases, 
advances, FINANCE CHARGES, Late Charges, and collection 
costs arising from the use of the card and the card Account by 
you or any other person you permit to use your Account even 
if that person exceeds your permission. For example, you are 
responsible for charges made by yourself, your spouse and 
minor children and this responsibility continues until the card is 
recovered. You cannot disclaim responsibility by notifying us, but 
we will close the account for new transactions if you so request 
in writing and return all cards. Your obligation to pay the account 
balance continues even though an agreement, divorce decree, or 
other court judgment to which we are not a party may direct you 
or one of the other persons responsible to pay the account. Any 
person using the card is jointly responsible with you for charges he 
or she makes, but if that person signs the card, he or she becomes 
a party to this Agreement and is also jointly responsible for all 
charges on the account, including yours.

2. Lost Card Notification. If you believe the Card has been lost or 
stolen, you will immediately call the Credit Union at (309) 793-6200 
or (800) 722-0333.

3. Updated Liability Rule for Unauthorized Use. Effective 
4/4/2000, Consumer liability for lost/stolen VISA cards is now $0 
and the 48-hr time frame to report lost/stolen VISA cards has been 
eliminated. The Credit Union has the right to make exceptions 
to the preceding conditions, if it can prove that you have been 
grossly negligent. Such liability does not apply to electronic funds 
transactions 

4. Credit Line. If we approve your application, we will establish 
a self-replenishing Line of Credit for you and notify you of its 
amount when we issue the card. You agree not to let the account 
balance exceeds this approved Credit Line. Each payment you 

make on the account will restore your Credit Line by the amount 
of the payment which is applied to the principal. You may request 
an increase in your Credit Line only by written application to us, 
which must be approved by our credit committee or loan officer. 
By giving you written notice our credit committee may reduce your 
Credit Line from time to time, or with good cause, revoke your card 
and terminate this Agreement. Good cause includes your failure to 
comply with this Agreement, or our adverse reevaluation of your 
credit-worthiness. You also agree to advise us of any change in 
your financial condition which may affect your credit worthiness. 
You agree that you will update the credit information you have 
provided us, from time to time, on our request.

5. Credit Information. You authorize us to investigate your credit 
standing when opening, renewing or reviewing your account, and 
you authorize us to disclose information regarding your account 
to credit bureaus and other creditors who inquire of us about your 
credit standing.

6. Monthly Payment. Every month you must pay at least the 
Minimum Payment within 25 days of your statement closing date. 
By separate agreement you may authorize us to charge the 
minimum payment automatically to your share or share draft 
account with us. You may, of course, pay more frequently, pay 
more than the Minimum Payment , or pay the Total New Balance 
in full, and you will reduce the FINANCE CHARGE by doing so. 
The Minimum Payment will be either (a) 2% of your Total New 
Balance or $20, whichever is greater, or (b) your Total New 
Balance, if it is less than $20 plus (c) any portion of the Minimum 
Payment(s) shown on prior statement(s) which remain unpaid and 
the Total of Account Penalties. In addition, at any time your Total 
New Balance exceeds your Credit Line, you must immediately pay 
the excess upon our demand. 

7. Finance Charges.

7.1 Repayment Terms and Finance Charge Information
7.1.a.  9.9% APR Card-Fixed Rate Formula: 
The Finance Charge is calculated using the following 
interest rate: 9.9% ANNUAL PERCENTAGE RATE, .825% 
Monthly Periodic Rate, on the average daily balance. 
Default Rate: increases to 14.9% ANNUAL PERCENTAGE 
RATE if minimum payment is not received within 60 days 
after it is due, make a payment that is returned or do either 
of the above on another account that you have with us.  

7.1.b.  11.9% APR Cash Back Card-Fixed Rate Formula: 
The Finance Charge is calculated using the following 
interest rate: 11.9% ANNUAL PERCENTAGE RATE, .991% 
Monthly Periodic Rate, on the average daily balance. 
Default Rate: increases to 16.9% ANNUAL PERCENTAGE 
RATE if minimum payment is not received within 60 days 
after it is due, make a payment that is returned or do either 
of the above on another account that you have with us.

7.1.c.  7.9% APR Relationship Card:  
The Finance Charge is calculated using the following 

interest rate: 7.9% ANNUAL PERCENTAGE RATE, .658% 
Monthly Periodic Rate, on the average daily balance. This 
rate is subject to meeting the requirements of establishing 
an account relationship on your IH Mississippi Valley Credit 
Union member account. You must have an active checking 
account with us and one of the following four requirements 
included on your IH Mississippi Valley Credit Union member 
account: mortgage loan, home equity loan, automobile loan 
or have been a member with us for a minimum of five years.  
Your member account will be reviewed in advance of your 
card renewal. If the requirements are not met, your rate will 
be calculated using the following non-qualifying interest rate: 
9.9% ANNUAL PERCENTAGE RATE, .825% Monthly Peri-
odic Rate, on the average daily balance. You will be notified 
at least 45 days in advance of this rate change. Default Rate: 
increases to 12.9% ANNUAL PERCENTAGE RATE if mini-
mum payment is not received within 60 days after it is due, 
make a payment that is returned or do either of the above on 
another account that you have with us.

7.2  Finance Charge Calculation Method.  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 state-
ment within 25 days of the statement closing date. Otherwise, 
FINANCE CHARGE on 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 FINANCE CHARGE (interest) is calculated 
at the ANNUAL PERCENTAGE RATE, on the average daily  
principal balances of purchases and cash advances in the  
account. The principal balances of purchases and cash advances 
are determined each day during the statement period, begin-
ning with the principal portion of your Previous Balances, reduced 
by payments you make and credits we apply, and increased by 
purchases and cash advances you make and debit adjustments we 
make during the statement period. The daily principal balances are 
totaled, and divided by the number of days in the statement period, 
to produce separate average daily principal balances for purchases 
and cash advances to which the periodic rate is then applied. The 
default rate applies to your account if we do not receive your mini-
mum monthly payment within 60 days after it is due.

7.3  Default Rate.  If your APRs are increased for any of the 
above listed reasons, the Default APR may apply.  If you  
successfully make at least six timely minimum monthly payments 
after the Default APR goes into effect, the APR will be reduced to 
the regular rate pursuant to your Agreement with us.  

8. Other Charges.  If you are 10 days late in making a minimum 
monthly payment, you will be charged a late fee. Your late fee will be 
one of the following: a) $25.00 if your past due minimum payment 
is $25.00 or more, b) equal to your past due minimum payment 
if your past due minimum payment is less than $25.00. Returned 
Check: $25.00. Card Replacement: $10.00. Draft copies: $6.00 Cash 
Advances are subject to a cash advance fee of either $5.00 or 2% 

of the amount of each transaction, whichever is greater. These fees 
will be added to other amounts which are subject to a FINANCE 
CHARGE, as described in the same manner as Cash Advances.

the United States. Display of a payment card logo by an online 
merchant does not mean the Internet gambling transactions are 
lawful in all jurisdictions in which you may be located.

The following transactions will be treated as cash advances:

· Using your Card to obtain cash from a participating Automated 

Teller Machine (“ATM”);

· Using your Card to obtain cash from a participating financial 

institution;

· Using a check drawn on the Account;
· Obtaining money orders, travelers checks, foreign currency, 
lottery tickets, casino chips, vouchers redeemable for cash 
or similar items;
· Balance Transfers

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 when 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 will be applied towards what you owe. You agree to pay 
reasonable collection expenses, including card recovery fee, court 
costs and/or collection agency fees and costs to the extent allowed 
by applicable laws or regulations. You understand that a contingency 
or hourly fee arrangement may be established under an agreement 
entered into by the Credit Union with a collection agency to collect 
amounts due under this agreement if you are in default and you 
hereby agree that any such fee arrangement is reasonable.

10. Using The Card. You may use the card issued to you to make 
purchases in person, by mail, by telephone or over the Internet from 
merchants and others who accept the VISA credit card. In addition, 
you may obtain cash advances from the Credit Union, from other 
financial institutions participating in the VISA program and from 
automated teller machines (ATMs) that accept the VISA card (par-
ticipate in the PLUS systems network). Not all ATMs provide such 
access. The reverse side of your credit card identifies any other ATM 
networks that you may access. You will need to use your Personal 
Identification Number (PIN) to obtain a cash advance from an ATM. 
The Credit Union is not responsible for the refusal of any merchant 
or financial institution to honor the card. The daily limit for cash 
advances from all participating ATMs is up to your available credit 
limit, but no more than $998.00. Your VISA card may not be used for 
any illegal transaction. This may include online gambling services 
on the Internet. Internet gambling may be illegal in the jurisdiction 
in which you, the cardholder, are located, including locations within 

11. 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 (1) the 
wholesale market rate or (2) the government mandated rate, 
whichever is applicable, in effect on day prior to the processing 
date, increased by one percent (100 basis points). The Credit 
Union has no control over the conversion rate.

Effective April 2005, the exchange rate is a rate selected by VISA 
from the range of rates available in wholesale currency markets for 
the applicable central processing date, which rate may vary from 
the rate VISA itself receives, or the government-mandated rate in 
effect for the applicable central processing date, in each instance, 
plus or minus any adjustment determined by the Credit Union.

12. Copies of Documentation. You will be charged a fee for each
copy of a draft or monthly statement that you request from us.

13. Plan Merchant Disputes. We are not responsible for the
refusal of any plan merchant or financial institution to honor your 
card. We are subject to claims and defenses (other than tort 
claims)arising out of goods or services you purchase with the 
card only if you have made a good faith attempt, but have been 
unable to obtain satisfaction from the plan merchant, and: (a) your 
purchase was made in response to an advertisement we sent or 
participated in sending you; or (b) your purchase cost more than 
$50 and was made from a plan merchant in your state or within 100
miles of your home. For other disputes you must resolve directly 
with the plan merchant.

14. Security Interest. To secure your account, you grant us a 
purchase money security interest under the Uniform Commercial 
Code in any goods you purchase through the account. If you 
default, we have the right to recover any of these goods which 
have not been paid for through our application of your payments 
in the manner described in Monthly Payment. You grant us a 
security interest in all individual and joint share accounts and/
or deposit accounts you have with us now and in the future to 
secure what you owe under the credit card agreement. When 
you are in default, you authorize us to apply the balance in 
these accounts to any amounts due. Shares and deposits in an 
Individual Retirement Account, and any other account that would 
lose special tax treatment under state or federal law if given as 
security are not subject to the security interest you have given in 
your shares and deposits.

15. Effect of Agreement. This Agreement is the contract which 
applies to all transactions on your account even though the 
sales, cash advance, credit or other slips you sign or receive may 
contain different terms. We mayamend this Agreement from time 
to time by sending you the advance written notice required by law. 
Your use of the card thereafter will indicate your agreement to the
amendments. To the extent the law permits, and we indicate in 

our notice, amendments will apply to your existing account 
balance as well as to future transactions. The Credit Union  
can delay enforcing any of its rights any number of times  
without losing them.

16. Terminate This Agreement. 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 CHARGES 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. Failure  
to surrender your cards will result in a card recovery fee of $75 
each, should you attempt to use the cards.

17. Statements and Notices. You will receive a statement each 
month showing transactions on your account. You are responsible 
for your minimum monthly payment even in the event your  
statement is late or returned to the Credit Union. Statements  
and notices will be mailed to you at the most recent address  
you have given the Credit Union. Notice sent to any one of you  
willbe considered notice to all.

18. Cross Collateral. If cardholder has other loans from
issuer, or takes out other loans with issuer in the future,
collateral securing these loans, excluding any dwellings,
will also secure the Cardholder’s obligations under this
agreement. Cardholder agrees to pay all costs incurred by
issuer in collecting Cardholder’s indebtedness or in
enforcing this agreement, including attorney’s fees as may
be reasonable and just and also those costs, expenses
and attorney’s fees incurred in appellate, bankruptcy, and
post-judgment proceedings.

19. Convenience Checks. Credit Card account Cardholders  
may sometimes be issued personalized checks that can be used  
to access your credit account without additional service charges 
other than the accrual of FINANCE CHARGES. You can use your 
convenience checks to purchase goods and services or to obtain 
cash up to the amount of your credit line. Use of your checks will be 
a cash advance on your VISA account. We are not required to honor 
a convenience check that will cause you to exceed your Credit Line.
We will not pay a check if at the time the check is presented,  
you are in default or we have suspended, terminated, or  
canceled your Account. Checks may be used only by the  
person(s) whose name(s) is on the VISA account. You are  
responsible for all authorized use of your convenience checks.  
You may not use your convenience checks to pay any amount 
which you owe us under your account. Provided such request  
is timely, so that we shall have a reasonable opportunity to act  
upon it under our rules, you may order a stop payment on a  
convenience check drawn on your account. We may, but shall  
not be obligated to receive such order orally. In such event, the
order shall be valid for only fourteen (14) days thereafter
unless confirmed in writing. Written stop payment orders

will remain in effect only six (6) months unless renewed in
writing. You have the burden of establishing the fact and
amount of loss resulting from payment contrary to a binding  
stop payment. Convenience checks are the property of the 
Credit Union. We reserve the right to revoke them at anytime.  
You agree to return them at our request.

20. Honest Dealing. You will promptly notify the Credit
Union of any information that affects your credit worthiness
or ability to pay off the balance including but not limited to
a change in address or employment. You will not apply to
increase the Credit Line if you have reason to believe that
you will be unable to make the scheduled payments.

To find out about changes in the information in this
application, write us at IH Mississippi Valley Credit Union,
2121 47th Street, Moline, IL 61265. Residents of Illinois
may contact the Illinois Commissioner of Banks and Trust
Companies for comparative information on interest rates,
charges, fees and grace periods. State of Illinois-CIP,P.O.
Box 10181, Springfield, IL 62791: 800-634-5452.

YOUR BILLING RIGHTS: 
KEEP THIS DOCUMENT FOR FUTURE USE

This notice tells your about your rights and our  
responsibilities under the Fair Credit Billing Act.

What To Do If You Find A Mistake On Your Statement

If you think there is an error on your statement, write to us at:

Credit Services
PO Box 1010
Moline, IL  61266-1010

In your letter, give us the following information:
·  Account information: Your name and account number.
·  Dollar amount: The dollar amount of the suspected error.
·  Description of problem: If you think there is an error on your  
  bill, describe what you believe is wrong and why you believe  

it is a mistake.

You must contact us:
·  Within 60 days after the error appeared on your statement.
·  At least 3 business days before an automated payment is  
scheduled, if you want to stop payment on the amount you  
think is wrong.

You must notify us of any potential errors in writing. You may call 
us, but if you do we are not required to investigate any potential 
errors and you may have to pay the amount in question.

What Will Happen After We Receive Your Letter

3.  You must not yet have fully paid for the purchase.

If all of the criteria above are met and you are still dissatisfied  
with the purchase, contact us in writing at:

Credit Services
PO Box 1010
Moline, IL  61266-1010

While we investigate, the same rules apply to the disputed  
amount as discussed above. After we finish our investigation,  
we will tell you our decision. At that point, if we think you owe an 
amount and you do not pay, we may report you as delinquent.

Special Rules 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 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.

READ AND RETAIN

Revised July 2015

When we receive your letter, we must do two things:
1.  Within 30 days of receiving your letter, we must tell you that we 
received your letter. We will also tell you if we have already cor-
rected the error.
2.  Within 90 days of receiving your letter, we must either correct 
the error or explain to you why we believe the bill is correct.

While we investigate whether or not there has been an error:
·  We cannot try to collect the amount in question, or report you as 

delinquent on that amount.

·  The charge in question may remain on your statement, and we 

may continue to charge you interest on that amount.

·  While you do not have to pay the amount in question, you are 

responsible for the remainder of your balance.

·  We can apply any unpaid amount against your credit limit.

· 

After we finish our investigation, one of two things will happen:
If we made a mistake: You will not have to pay the amount in 
· 
question or any interest or other fees related to that amount.
If we do not believe there was a mistake: You will have to pay 
the amount in question, along with applicable interest and fees. 
We will send you a statement of the amount you owe and the 
date payment is due. We may then report you as delinquent if 
you do not pay the amount we think you owe.

If you receive our explanation but still believe your bill is wrong, 
you must write to us within 10 days telling us that you still refuse 
to pay. If you do so, we cannot report you as delinquent without 
also reporting that you are questioning your bill. We must tell you 
the name of anyone to whom we reported you as delinquent, and 
we must let those organizations know when the matter has been 
settled between us.

If we do not follow all of the rules above, you do not have to pay the 
first $50 of the amount you question even if your bill is correct.

Your Rights If You Are Dissatisfied With Your Credit Card 
Purchases

If you are dissatisfied with the goods or services that you have  
purchased with your credit card, and you have tried in good faith  
to correct the problem with the merchant, you may have the right  
not to pay the remaining amount due on the purchase.

To use this right, all of the following must be true:
1.  The purchase must have been made in your home state or  
within 100 miles of your current mailing address, and the  
purchase price must have been more than $50. 
(Note: Neither of these are necessary if your purchase was  
based on an advertisement we mailed to you, or if we own the 
company that sold you the goods or services.)

2.  You must have used your credit card for the purchase.  

Purchases made with cash advances from an ATM or with a 
check that accesses your credit card account do not qualify.

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