23. Important Notice to Our Members Who Contact Us by Phone.
Cardholder agrees that Issuer, it’s agents and service companies may,
without  the  need  to  seek  additional  confirmation  from  Cardholder,
monitor and/or record any telephone communications with Cardholder
to insure that inquires from you are handled promptly, courteously, and
accurately.

24.  Visa  Rules  and  Regulation.  The  services  being  provided  to  you
under this Agreement are made possible by Issuer’s status as a licensee
of  Visa  U.S.A. You  recognize  Issuers  responsibility  to  comply  with  the
current Visa U.S.A. rules and regulations and changes to them in order to
continue to provide these services. VISA cards may not be used for any
illegal transaction.

25. Severability. If for any reason one or more of the provisions in this
Agreement  is  declared  unenforceable  and/or  void,  the  rest  of  the
provisions in the Agreement continue to apply as if the unenforceable or
void provision did not appear in the Agreement.

26. Illegal Use. You agree not to make or permit to be made any illegal
transactions on your Account through the use of a Card, a check or in any
other  manner.  We  may  deny  authorization  for  any  internet  gambling
transactions.

Regulation  Z  Initial  Disclosures.  By  using  your  card,  you
acknowledge  receipt  from  us  of  the  Initial  Disclosures  required  by
Regulation Z of the Truth-In-Lending Act and that the terms contained
in the Initial Disclosures apply to you and your use of the card and are
incorporated in full into this Agreement. The information about the terms
and costs of the Card described in this Member Agreement is accurate
as of the Effective Date. This information may have changed after that
date. To find out what may have changed, call us or write to us at:
ELGA Credit Union
2303 S. Center Rd.
Burton, MI 48519
Phone: 810-715-3542

16. Name or Address Change. You agree to notify us in writing within
twenty days if you change your name, your home mailing address, or
home or business telephone number.

17. Our Right to Cancel Your Account. We can cancel your account
at any time, or reduce the amount of your credit line, without notice to
you, except in those situations where notice is required by law. If we
cancel  your  account,  you  agree  to  destroy  all  Cards  issued  on  your
account  by  cutting  them  in  half  and  returning  them  to  us.  You  will
continue  to  be  responsible  for  full  payment  of  the  balance  on  your
account  and  all  charges  to  your  account,  including  those  not  yet
received  by  us,  as  well  as  subsequent  Finance  Charge  and  other
charges. Each Card is our property, and you agree that the Cards are
not transferable and to surrender any Card upon demand.

18. Change in Terms of Your Account. We can change any terms of
your account at any time. We will provide you with such notice as is
required by law by mailing a notice to you at the latest address shown in
our  records. Subject  to  applicable  law,  any  charge  will  apply  to  the
current balance of your account, as well as to future balances.

19.  If  Your  Card  is  Lost  or  Stolen  or  if  Unauthorized  Use  May
Occur. You agree to notify us immediately if your card is ever lost or
stolen  or  if  an  unauthorized  use  may  have  occurred. The  telephone
number to call is 800-237-6211, and you agree to follow up your call
with notice in writing to us at: Credit Card Security Department, PO Box
30035, Tampa, FL 33630. You also agree to assist us in determining the
facts,  circumstances  and  other  pertinent  information  relating  to  any
loss, theft or possible unauthorized use of your credit card and comply
with  such  procedures  as  we  may  require  in  connection  with  our
investigation, including assisting in the prosecution of any unauthorized
user.

20. Liability for Unauthorized Use of Credit Card. 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 us of the loss, theft, or
possible  unauthorized  use.  In  any  case,  your  liability  will  not  exceed
$50 for unauthorized cash advances at ATMs. Unless you have been
grossly negligent, you will have no liability for unauthorized purchases
made with your credit card.

21. Credit Information. You agree that we may release information to
others, such as credit bureaus, regarding the status and history of your
account. However, we are not obligated to release any such information
to anyone unless we are required by law to do so.

22. Waivers. If, for any reason, we do not make use of any of our rights
under  this  Agreement  on  a  particular  occasion,  that  will  not  limit  our
rights in the future in any way.

© 2009 CUcorp, Incorporated (800.435.2824)  00020303-1147

ELGA CREDIT UNION
2303 S. Center Road, Burton, Michigan 48519
810-715-3542
Effective 12/1/08

VISA CREDIT CARD
AGREEMENT AND DISCLOSURES
This Agreement covers your credit card account with us, ELGA Credit
Union.  The  person  (“Account  Holder”  or  “You”)  whose  name  is
embossed  on  the  face  of  the  Visa  credit  card  (“Card”)  provided  to
Account Holder and issued by us and each Account Holder, by signing
or using the Card, agrees with Issuer to the following terms:

1. Your Account. If you have a joint account, each Account Holder has
the right to use the account up to the extended credit limit as described
below.  Each  Account  Holder  is  bound  by  these  terms  and  each,
individually, will be liable for all charges, even if only one of you uses the
account.  For  joint  accounts,  each  individual  separately,  and  both
individuals together, are referred to in this Agreement as (“You”).

2.  Credit  Card  Account  Services. These  services  are  available
through your Card account, up to the amount of your credit limit.
a.  Credit  Purchases. You  can  use  your  account  to  purchase  goods
and  services  wherever Visa  credit  cards  are  accepted  (referred  to  in
this Agreement as “Credit Purchases”).
b.  Cash  Advances. You  can  get  a  Cash  Advance  referred  to  in  this
Agreement as a “Cash Advance” from your account by presenting your
Card  at  a  financial  institution  that  accepts Visa  credit  cards. You  can
also use your Card to obtain up to $500.00 per day in cash from any
authorized Automated Teller Machine (“ATM”) with your Visa Personal
Identification  Number  (“PIN”). You  may  not  obtain  a  Cash  Advance  if
your account is delinquent, closed or the amount of the advance would
cause your balance to go over your credit limit.

3. Your promise to Pay.
3.1 You promise to pay us, when due, the total of all Credit Purchases
and Cash Advances you make on your account. You also promise to pay
the total of any Finance Charge and other charges due on the account.
You  also  promise  to  pay  all  costs  and  expenses,  including  reasonable
attorney’s fees that we incur in enforcing this Agreement.
3.2 You may pay your entire balance in full at any time.

4. Additional Card Holders or Others Using Your Account. You may
authorize others to use your account. You may add up to 3 additional
card holders to your account at no extra charge. Each additional card
holder  will  receive  a  credit  card  with  his  or  her  individual  name
embossed.  You  promise  to  pay  for  all  Credit  Purchases  and  Cash
Advances made by anyone you authorize to use your account, with or
without a card, and whether or not you notify us that he or she will be
using it. If another person has use of your account and you want to end
that person’s privilege; you must recover and return that person’s credit
card, if any.

If you are unable to recover and return the card, you will continue to be
liable for any charges made unless you tell us to cancel all cards and
establish a new account for you, which will be done automatically if you
notify us of unauthorized use under Paragraph 21 of this Agreement.
We may request written verification from you regarding any change or
cancellation to your account.

5. U.S. Currency. If you make a purchase or cash advance in foreign
currency the transaction will be converted into U.S. Dollars by Visa. To
the  extent  that  you  have  used  your Visa  card  to  purchase  goods  or
services, or obtain cash in another country, your statement may reflect
the conversion into U.S. Dollars of transactions which occurred, initially,
in a different currency. The exchange rate applied to such transactions
is a (i) wholesale market rate or (ii) government-mandated rate in effect
one day prior to the processing date, increased by one percent.

6. Your Credit Limit. Your credit limit is shown on each of your billing
statements. You agree not to use your account in any way that will cause
your balance to go over your limit. If you do, we may at our option, close
your  account,  and/or  exercise  any  of  our  other  remedies  under  this
Agreement or at law. You must pay the full amount of your balance which
is over the credit limit. The fact that we do not ask you for that amount
as  part  of  the  Minimum  Periodic  Payment  shown  on  your  billing
statement does not relieve you of your obligation to pay it immediately.
We will not authorize any new Credit Purchases or Cash Advances if
your records show that doing so will cause your balance to go over your
limit.  If we  do authorize any such Credit Purchase or Cash Advance,
such authorization will not result in any waiver of our rights under this
section. If we increase your credit limit, we will notify you.

7.  Law  Governing  This  Agreement. To  the  extent  not  expressly
prohibited by applicable law, this agreement and your account, as well
as  our  rights  and  duties  and  your  rights  and  duties  regarding  this
agreement and your account, will be governed by and interpreted in
accordance  with  the  laws  of  the  Sate  of  Michigan  and  the  United
States, regardless of where you may reside or use your account at any
time.  The  choice  of  law  is  made  because  of  a  strong  relationship
between  this  Agreement  and  your  account  to  ELGA  Credit  Union,
because  Issuer  is  located  in  Michigan,  and  to  insure  uniform
procedures and interpretation for all of our members, no matter where
they  reside  or  use  their  accounts.  If  any  term  or  provision  of  this
Agreement is found to be unenforceable, this will not make any other
terms or provision unenforceable.

8. Honoring Your Card. We will not have any responsibility to you if
anyone refuses to honor a Card issued on your account. Any refund,
adjustment  or  credit  allowed  by  a  Seller  shall  not  be  by  cash  but
rather by a credit advise to us, which will be shown as a credit on
your account statement.

9. Security for This Account. You agree to give ELGA Credit Union
security  interest  in  any  and  all  collateral  that  you  have  pledged
with  ELGA  Credit  Union  to  secure  any  and  all  debts  now  and
hereafter owed ELGA Credit Union, including all debts incurred by
credit  card  and  overdrafts  except  this  collateral  shall  not  secure
any loan from ELGA Credit Union that is secured by your principal
residence. You also agree that any and all shares and deposits in
your  individual  and  joint  accounts  with  ELGA  Credit  Union  are
pledged as collateral if you default on your credit card debt now
and in the future.

10. Payment Period. You will receive monthly billing statements from
us. The  New  Balance  shown  on  your  statement  is  the  total  of  unpaid
obligations, which have been posted to your account as of the statement
date.  You  can  either  pay  the  entire  New  Balance  or  you  can  pay  in
installments,  but  we  must  receive  at  least  the  Minimum  Periodic
Payment shown on your billing statement by the payment due date. If
you make extra payments or larger payments, you still are required to
make  at  least  the  minimum  payment  each  month  your  account  has  a
balance (other than a credit balance). The Minimum Periodic Payment is
figured as follows:

If Your New Balance is:
$10.00 or less
Over $10.00

Payment is:
The amount of your new balance.
3% of that portion of the New Balance
which does not exceed your credit limit,
plus  the  entire  portion  of  the  New
Balance  in  excess  of  your  credit  limit,
plus any past due, or $10.00 whichever is
greater.

11. Payment Applications. Subject to applicable law, your payments
may be applied to what you owe ELGA Credit Union in any manner the
Credit Union chooses in it’s sole discretion.

12. Immediate Repayment of Your Full Balance. You will be in default,
and  we  may,  without  notifying  you,  temporarily  suspend  your  credit,
close  your  account,  cancel  all  credit  cards  issued  on  it  and  require
immediate payment of your entire balance if any of the following occurs:
a.
b.
c.

You fail to make a payment when it is due;
You do not follow the terms of this agreement in any way;
You have made any false or misleading statement on the
application for your account;
You fail to pay any other loans you owe us;
You become insolvent or die;
There is an attachment, execution or levy against your
property or you make an assignment for the benefit of
creditors;
A bankruptcy petition is filed by or against you;
A guardian, conservator, receiver, custodian or trustee is
appointed for you;
You are generally not paying your debts as they become
due; or
There has been a material adverse change in your financial
standing.

d.
e.
f.

g.
h.

i.

j.

13. Reevaluation of Credit. We can reinvestigate and reevaluate any
information you provided on your credit application at any time, and in
the course of doing so, we may ask you additional information, request
credit  bureau  reports  and/or  otherwise  verify  your  current  credit
standing.

14. Periodic FINANCE CHARGE. Your account will be subject to the
Monthly Periodic FINANCE CHARGE Rate and corresponding Annual
Percentage Rate applicable to the ELGA Credit Union accounts, set
forth in the Initial Disclosure provided to you by us. If you pay your
minimum monthly payment 30 days late, your rate will adjust to
the highest ELGA Credit Union Annual Percentage Rate which is
currently 17.90%.

You have a 25 day grace (no finance charge) period on your purchase
balance and for new purchases if you paid the Total New Balance for
purchases on your last statement by the end of the grace period. You
also have a 25 day grace period for new purchases if you did not have
a purchase balance on your last statement. The grace period starts on
the statement closing date. If you do not pay the Total New Balance for
purchases  by  the  end  of  the  grace  period,  finance  charges  will  be
imposed on the unpaid purchase balance from the first day of the next
billing cycle and on new purchases from the date they are posted to
your Account. Finance charge is imposed on cash advances from the
date they are posted to your account.

We figure [a portion of] the finance charge on your account by applying
the  periodic  rate  to  the  “average  daily  balance”  of  your  account
(including current transactions). To get the “average daily balance” we
take  the  beginning  balance  of  your  account  each  day,  add  any  new
[purchases/advances/loans],  and  subtract  any  payments  or  credits,
[and unpaid finance charges]. This gives us the daily balance. Then, we
add up all the daily balances for the billing cycle and divide the total by
the number of days in the billing cycle. This gives us the “average daily
balance.”

15. Other Charges.
Late  Charge -  If  we  do  not  receive  your  minimum  required  payment
within 15 days after the closing date subsequent to the payment due
date indicated on your billing statement, we will impose a late fee of
$20.00.
Replacement Card - We reserve the right to charge you $5.00 to replace
a card.
Document Copy Fee - There will be a $5.00 Sales Draft copy fee for
each copy you request.
Non-Sufficient Funds - If any check used to make a payment on your
account is returned for non-sufficient funds, you will be charged a fee of
$20.00 for each such returned check.
Pick-Up Fee - When a card is lost and has been reported to the credit
union’s card processor a block is placed. If the card is recovered and
you  try  to  use  it,  the  merchant  will  capture  the  card  and  you  will  be
charged $75.00.