For account inquiries, current rates, transfers from/to accounts,
and payments to loan accounts call:
Telephone Banking:
800-888-3900 Toll Free, or (561) 997-0779 
or (770) 429-6520 in Atlanta.
Or, visit Online Banking: www.ibmsecu.org

IBM Southeast Employees’ Federal Credit Union
Important Phone Numbers: 
For faster service, use Telephone or Online Banking.

Member Service Call Center:
Mon. - Thu. / 08:00 AM - 05:00 PM EST 
Fri. / 08:00 AM - 06:00 PM EST
(800) 873-5100 or (561) 982-4700 
Fax: (561) 226-5415
Email: serviceplus@ibmsecu.org
IBM Southeast EFCU Mailing Address: 
P.O. Box 5090, Boca Raton, FL 33431-0890
TDD Line for the hearing impaired:
(561) 241-2992

Mortgage Office:
• Mortgage Information Line: (800) 873-5100, ext. 7722, or 
(561) 982-4700, ext. 7722
• First Mortgage Rate Line: (800) 873-5100, ext. 7711, or 
(561) 982-4700, ext. 7711
• Second Mortgage Rate Line: (800) 873-5100, ext. 7747, or 
(561) 982-4700, ext. 7747
• Fax: (561) 982-4790 • Email: mortgage@ibmsecu.org 
• Apply Online: www.ibmsecu.org

Loan Department:
• Loan Call Center, during regular business hours: 
(800) 873-5100, ext. 7701, or (561) 982-4700, ext. 7701. 
Ask us about Extended Warranty, GAP Total Loss Protection, 
and Payment Protection Insurance
• Fax: (561) 982-4798  • Email: loans@ibmsecu.org 
• Apply Online: www.ibmsecu.org
• Loan Line 24, after hours and weekends: 
(877) 354-LOAN (5626)
• AutoAdvisors: Car Information and Buying Program
Call (800) 873-5100, ext. 4718 or (561) 982-4700, ext. 4718
or e-mail AutoAdvisors@ibmsecu.org

Card Services:
For VISA Check Card and VISA Credit Card Services
(800) 873-5100, ext. 4791, or (561) 982-4700, ext. 4791
• General Correspondence Fax: (561) 226-5417
• VISA Check Card Dispute Fax: (561) 226-5401
• VISA Credit Card Dispute Fax: (561) 226-5414
• Email: visa@ibmsecu.org
• To Report your Cards Lost or Stolen 24/7 call
(800) 873-5100 or (561) 982-4700

Your
Loan
Disclosures

www.ibmsecu.org

A705 (3/09)

Index
Disclosure Statement and Agreement ..............1
VISA Credit Card Accounts Agreement........10
Your Billing Rights ........................................20
Places, Hours and Phones................Back Cover

Notice of Availability
This disclosure is intended for consumer and
and real estate loan purposes only. For more
information on real estate and business loans,
please refer to the appropriate supplementary
disclosures. Additional information regarding
terms, fees, and rates, may be obtained upon
request  by  contacting  the  Credit  Union.
(See Back Cover)

In accordance with Section 326 of the USA PATRIOT Act when
opening  a  new  or  additional  Loan  and/or  VISA  account,  your
identity  must  be  verified.  The  Credit  Union  requires  photo 
identification,  such  as  a  copy  of  your  Driver's  License,  if  this
information is not already on file.

All  IBM  Southeast  EFCU  Consumer  and  Real  Estate  Loans  are
subject  to  income,  address  and  identification  verification  and
credit  approval.  The  Annual  Percentage  Rate  (APR)  for
Consumer Loans is based on your credit worthiness, and the APR
for  Real  Estate  Loans  is  based  on  your  credit  worthiness  and
Loan-To-Value  (LTV).  Your  other  Credit  Union  account 
relationships  are  also  a  factor  in  calculating  your  APR.  These
requirements apply to all Borrowers, Co-Borrowers, Co-Signers,
Authorized Users, Guarantors and Collateral Owners.

In accordance with Regulation V and the FACT Act: We may
provide  negative  information  to  Credit  Bureaus  or  other 
credit  reporting  agencies  about  you  and  any  co-borrowers  or
guarantors  regarding  an  insolvency,  delinquency,  overlimit,
late  payment  or  default  on  your  Consumer  Loan  or  VISA
Credit Card account(s) to be included in your credit report.

REWARDS level benefits do not apply to Members
with loan delinquency of 35 days or greater until
their loan is brought current, or to Members that
have caused a loss to the Credit Union, such as a
Charge Off. For more information, please refer
to a REWARDS brochure.
For current fee amounts, please see the separate
fee schedule “Loan Fees and Charges” available
upon request or from our Web site at 
www.ibmsecu.org.

DISCLOSURE STATEMENT
AND AGREEMENT

The  following  Disclosure  and  Agreement  describes  the
terms  of  the  open-end  credit  plan  (referred  to  as  the
“Plan” or “Account”) agreed to between the borrower
(referred  to  as  “you”  or  “your”  or  “yours”)  and  the
Credit Union (referred to as “we”, “us” or “our”). The
Plan may have more than one account (“Sub-account”),
in  which  case  each  Sub-account  will  be  treated  as 
separate  from  the  others  for  purposes  of  determining
interest, late charges and minimum payments.

In  consideration  of  us  approving  your  Open-end  Credit
Application  and  any  credit  which  we  may  extend  under
the Plan, you agree to the following terms and conditions:

TERMS OF THE PLAN
Advances.  The  amount  of  each  Advance  you  obtain
from  your  Line  of  Credit  or  VISA  Credit  Card  under
the  plan  from  time  to  time  will  be  charged  to  your
Account  and  will  be  added  together  to  form  the 
outstanding  principal  balance.  You  can  obtain  an
Advance under any of your Sub-accounts (except your
Overdraft  Protection  Sub-account)  by  requesting  an
advance at one of our offices, over the telephone, or as
an  Online  or  Telephone  Banking  transaction.  If  you
have  Overdraft  Protection,  you  can  obtain  an  Advance
by  writing  a  check  on  your  checking  account  in  an
amount  that  exceeds  the  balance  in  that  checking
account. In addition, you can obtain an Advance under
your unsecured Multi-Access Sub-account in any of the 
following ways:
(cid:2)(cid:2) by using your VISA Check Card or VISA Credit
Card to obtain a Cash Advance in our ATM
Network; or

(cid:2)(cid:2) by using the Telephone Banking system to transfer
a Cash Advance to your checking or savings
account; or

(cid:2)(cid:2) by using the Online Banking system to transfer a
Cash Advance to your checking or savings 
account; or

(cid:2)(cid:2) by writing a draft (convenience check) to a third
party or by cashing a draft at one of our offices

1

1. Finance  Charge: All  activity  in  any  Sub-account(s)
during  each  monthly  period,  (called  “Cycle”),  includ-
ing  all  new  Advances,  posted  to  the  Sub-account(s)
during the Cycle, will be subject to a Finance Charge
as  of  the  date  each  Advance  is  posted  to  your  Sub-
account(s). The Finance Charge will be posted to your
Sub-account(s) as your payments are received and will
be  figured  by  applying  the  applicable  Daily  Periodic
Rate  (as  shown  on  the  accompanying  Interest  Rate
Addendum)  to  the  “Daily  Balance  for  each  of  your
Sub-accounts.
The  Daily  Balance  is  the  outstanding  Sub-account
balance  at  the  end  of  each  day.  It  includes  Advances
made  and  payments  and  credits  received  during  that
day.  It  does  not  include  any  unpaid  late  charges  and
Finance Charges. The Finance Charge for each day of
the  Cycle  is  then  figured  by  multiplying  the  Daily
Balance in each Sub-account by the appropriate Daily
Periodic  Rate.  The  sum  of  these  amounts  equals  the
Finance Charge.

2. Payment: You must pay us in United States funds, the
balance of your account. You can pay it in full at any
time without penalty, or you can pay it in installments.

Your  first  payment  for  each  Sub-account  will  be  due
either  on  the  date  shown  on  the  Funds  Advance
Voucher  you  receive  for  each  Advance  and/or  the
Periodic  Statement  or  other  notice,  and  subsequent
payments will be due on the same date of each month
thereafter. 

IBM  Southeast  EFCU’s  Periodic  Payment program
(automated  account  transfers)  may  be  used  to  satisfy
your  loan’s  payment  obligations  with  transfers  from
your  Credit  Union  Savings  or  Checking  account.
Funds  are  automatically  transferred  from  your  share
account  to  your  loan  account  on  your  payment  due
date. If the funds are not available on the payment due
date, the system will automatically attempt to make the
transfer  for  the  next  nine  (9)  consecutive  days.  If  the
funds are still unavailable after the tenth (10th) day, the
Periodic  Payment program  will  advance  to  your  next
scheduled  loan  payment  due  date.  At  that  time,  your
loan may be past due, which may result in late fees. An
alternate method of payment such as a transfer through
Online Banking or Telephone Banking will be required.
First Mortgage Periodic Payments are transferred at the
close of business on the first (1st) business day of the
month  and,  if  the  funds  are  insufficient,  will  continue
to  attempt  the  transfer  indefinitely.  If  the  First
Mortgage payment becomes late, a late fee may also be
charged.

The  Minimum  Payment  for  each  Sub-account  is  the
total  arrived  at  by  adding  together  the  amount  of  the
basic monthly payment for each Sub-account, plus any
amount  by  which  your  outstanding  balance  exceeds
your  credit  limit.  The  basic  monthly  payment  for  all

Sub-accounts  is  disclosed  to  you  on  the  Funds
Advance  Voucher  when  funds  are  advanced  to  you
under that Sub-account. Your minimum monthly pay-
ment shall never be less than $25.00

3. Treatment of Payments: Payments must be received
at  the  address  for  payments  specified  by  you  on  the
Periodic Statement by 1:00 P.M. on a business day to
be credited to your Sub-account(s) as of that same day.
Payments  received  at  other  locations  will  be  credited
promptly, but are subject to posting delays of up to five
(5)  calendar  days.  If  any  payments  made  by  you  are
less  than  the  total  minimum  payment  due  under  the
Plan,  you  may  allocate  such  payment  among  your
Sub-accounts at your sole discretion. You may prepay
all or part of what you owe under the Plan, at any time,
without penalty. However, interest continues to accrue
from  the  date  of  any  payment  until  the  date  the  next
payment  is  received.  To  determine  a  final  payoff  fig-
ure, contact the Loan Department. Additional principal
payments  may  be  made  after  receipt  of  your  regular
installment,  with  notice  to  a  Credit  Union
Representative  for  a  manually  posted  Principal
Payment adjustment.

4. Periodic  Statement:  At  the  close  of  each  Cycle  in
which  there  is  any  activity  on  your  Sub-account(s)  or
there is a credit or debit balance of more than $1.00 in
your  Sub-account(s),  you  will  be  provided  with  a
statement  summarizing  such  activity  (“Periodic
Statement”). Statement and account information is also
available  via  Telephone  Banking,  eMessenger
eStatements and Online Banking.

5. Late Charges: In addition to the continued accrual of
the  Finance  Charge  at  the  Daily  Periodic  Rate,  if  you
fail  to  pay  at  least  the  Minimum  Payment  on  any
Subaccount  within  ten  (10)  days  after  it  is  due,  a
Consumer Loan Late Charge may be assessed. Except
for First Mortgages, Real Estate Loans will be assessed
a  Late  Charge  calculated  on  a  percentage  of  the  past
due  payment  amount  of  Principal  and  Interest,  within
ten (10) days after the payment is due. For the current
fee  amounts,  please  see  the  separate  fee  schedule
"Loan  Fees  and  Charges"  available  upon  request  or
from our Web site.

6. Dishonored Check/ACH Charge: If you use a check
to pay any amount owing under your sub-accounts, and
the  check  is  not  paid,  you  must  pay  a  Dishonored
Check/ACH  Charge.  For  the  current  fee  amount,
please  see  the  separate  fee  schedule  "Loan  Fees  and
Charges" available upon request or from our Web site.

7. Credit Limit: The Credit Union will establish a credit
limit  for  each  of  your  Sub-account(s)  and  we  may
increase  or  decrease  such  credit  limit(s)  from  time  to
time.  You  will  not  use  any  Sub-account(s)  to  obtain
credit  in  excess  of  the  credit  limit,  and  you  assume

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3

responsibility for all credit extended by us on the basis
of  authorized  use,  by  you,  regardless  of  the  current
credit  limit.  The  credit  limit  for  each  of  your  Sub-
account(s)  will  be  disclosed  to  you  on  the  Funds
Advance Voucher.

8. Documentary Stamp Tax: For First Mortgage, Fixed-
Rate  Second  Mortgage,  and  Home  Equity  Line  of
Credit real estate loans over $150,000.00, or when the
borrower pays the closing costs, the borrower may be
responsible for paying State Documentary Stamp Tax.
9. Surrender  Fee: The  Credit  Union  may  pay  closing
costs  on  Fixed-Rate  Second  Mortgage  and  Home
Equity Line of Credit loans up to $150,000.00.  If your
loan  is  paid  in  full  and  discontinued  within  three  (3)
years  of  your  closing  date,  a  Surrender  Fee  may  be
charged  back  to  you  for  the  closing  costs  incurred  by
the  Credit  Union.    Time  limitations,  maximum  credit
limits  and  loan  amounts  may  apply.    For  the  current
Surrender  Fee  amount,  please  see  the  separate  fee
schedule  “Loan  Fees  and  Charges” available  upon
request or from our Web site. 

10. Security Agreement: To provide us with security for
payment and performance of all of your obligations to
us under this Disclosure Statement and Agreement, as
a right of off set for repayment of indebtedness, which
may now exist or may exist in the future, (except with
respect  to  those  obligations  in  connection  with  your
Multi-Access Sub-account), you understand and agree
that  we  shall  have  the  power,  in  accordance  with  12
U.S.C. Section 1757 (11), to place a lien on (to freeze)
your present and future shares, checking, share certifi-
cates and dividends to the extent of that portion of your
loan which is in default, and any charges due thereon.
Except with respect to your Multi-Access Sub-account,
you  are  also  giving  us  a  security  interest  in  your 
present  and  future  share,  checking,  share
certificate and other share accounts with us and in the
proceeds  and  unearned  premiums  of  any  property 
damage  insurance  and  the  proceeds  of  any  credit  life
and/or  disability  insurance  purchased  under  this
Disclosure Statement and Agreement.
With respect to your Multi-Access Sub-account, we
hereby  waive  the  statutory  lien  previously  cited;
however,  you  are  giving  us  a  security  interest  in
your  present  share,  checking,  share  certificate  and
other share accounts with us as listed in the Open-
End  Credit  Application  and  in  any  future  share
accounts, but in no event shall our security interest
in  these  accounts  exceed  that  which  would  be
obtainable  and  enforceable  by  other  creditors 
generally.
Furthermore,  with  respect  to  all  of  your  secured  Sub-
accounts  set  forth  on  the  accompanying  Interest  Rate
Addendum,  you  are  giving  us  a  security  interest  in
certain other personal property of the type described at

the  “Type  of  Sub-account”  for  each  Sub-account,
which  property  will  be  individually  identified  in
separate  Funds  Advance  Vouchers,  which  you  will
receive  at  the  time  of  each  Advance  made  under  any
Sub-account, as well as in any accessions to such prop-
erty and in any proceeds from the sale of the property
(all  of  the  above  collectively  referred  to  as  the
“Collateral”).  Any  other  Collateral  taken  as  security
under  the  Plan  will  be  specifically  identified  on  the
Funds Advance Voucher.
You  understand  and  acknowledge  that  the  Collateral
also secures any other obligations that you may now or
in  the  future  have  with  us,  including,  without  limita-
tion, additional loans and credit card plans (except real
and/or  other  residential  property  securing  such  loans),
and  fees  and  costs  charged  against  your  account(s).
You  further  understand  and  acknowledge  that  if  you
are  in  default  on  a  financial  obligation  to  us,  Federal
Law  gives  us  the  right  to  apply  the  balance  of  shares
and dividends in your account(s) at the time of default
to  satisfy  that  obligation.  Once  you  are  in  default,  we
may exercise this right without further notice to you. 
Collateral securing any other loans you may now or in
the  future  have  with  us  (except  any  real  and/or  other
residential property securing such loans) will secure all
Advances under the Plan. If you have a “Share Pledge”
Sub-account(s),  you  agree  that  you  cannot  withdraw
any amount that you have agreed to keep in such Sub-
account(s) as described in the Funds Advance Voucher.
The  Collateral  also  secures  your  payment  our  reason-
able  costs  and  expenses  (including  reasonable attor-
ney's fees and costs incurred as a result of a referral to
an attorney for collection, or at trial, bankruptcy, or on
appeal) incurred in the collection of your debt. The lien
and/or  security  interest  given  above  will  not  apply  to
any of your Keogh, Individual Retirement Accounts or
other tax-deferred accounts.
If  we  reasonably  determine  that  any  stock  pledged  as
Collateral  under  any  stock-secured  Sub-account  has
become  insufficient  to  fully  secure  your  obligations
under this Disclosure Statement and Agreement by rea-
son of a decline in the market value thereof, you must
either (a) pledge additional stock in an amount we deem
sufficient to fully secure your outstanding Sub-account
balance,  or  (b)  reduce  your  outstanding  Sub-account
balance  (by  prepayment)  so  that  the  stock  previously
pledged is sufficient to fully secure such balance.
For  further  information  on  your  obligation  of  debt
repayment,  please  refer  to  the  separate  disclosure
Important  Account  Information  for  Our  Members,
Terms  and  Conditions  of  Your  Account,  Right  of
Offset for Repayment of Indebtedness.

11 Statutory Lien and Lien Right: The Credit Union has
the right to impress and enforce a statutory lien against
any shares and dividends you now or may later have on

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deposit  at  the  Credit  Union  in  the  event  of  failure  to
satisfy a financial obligation on any consumer or credit
card  loan  that  you  have  now  or  in  the  future.  Lien
rights  obtained  before  death  will  also  continue  to
encumber your Credit Union share accounts in case of
loan  default.  The  Credit  Union  hereby  does  impress
that lien, and may enforce a lien without further notice
to you. These rights are granted in addition to the Right
of Offset for Repayment of Indebtedness.

12. Modification  of  Plan:  We  may  change,  modify  or
amend  the  terms  and  conditions  of  any  Sub-account
under  the  Plan  and  this  Disclosure  Statement  and
Agreement  (including  the  Annual  Percentage  Rate)  at
any  time  by  giving  notice  to  you  as  required  by
applicable  law  at  your  address  as  shown  on  your
Sub-account  records  with  us.  Any  modification  will
apply to your  outstanding balances as well as to new
credit  extensions.  In  certain  cases,  the  Credit  Union
may  consider  granting  a  loan  extension.  The  Loan
Extension  Fee  imposed  will  be  either  a  percentage  of
the  deferred  payments  or  a  flat  dollar  fee,  whichever
amount is greater. For the current fee amounts, please
see the separate fee schedule "Loan Fees and Charges"
available upon request or from our Web site.

13. Acceleration  of  Payment:  In  the  event  of  (a)  your
failure  to  make  any  payment  when  due;  (b)  your
breach  of  any  term  contained  in  this  Disclosure
Statement  and  Agreement;  (c)  your  death;  or  (d)  any
statement  made  by  you  in  connection  with  this
Disclosure  Statement  and  Agreement  being  false  in
any  material  respect;  or  (e)  if  we  reasonably  believe
that you will be unable to make your payments as they
become due, or (f) if our collateral is in jeopardy, or for
such  other  good  cause;  then  upon  our  election  and
upon notice required by applicable law, the entire out-
standing principal balance and all Finance Charges and
other  fees  will  be  immediately  due  and  payable.
Furthermore, in the event of your insolvency or the fil-
ing of any request for relief under the Bank ruptcy Act
by or against you, the entire outstanding principal bal-
ance  and  all  Finance  Charges  and  other  fees  will
become  due  and  payable  immediately,  without  any
notice or demand by us.

14. Unauthorized Use of the Plan: In the event of possi-
ble unauthorized use of your Sub-account(s), you will
notify  us  immediately  at  the  address  or  telephone
number  shown  elsewhere  with  this  Disclosure
Statement and Agreement, or as listed on your current
monthly All-In-One account statement.

15. Termination  of  the  Plan:  You  agree  that,  subject  to
notice as required under applicable law, we may termi-
nate this Plan at any time upon (a) reevaluation of your
creditworthiness, (b) your failure to satisfy the terms of
this  Disclosure  Statement  and  Agreement,  or  (c)  for
other good cause.

16. Credit  Insurance:  You  understand  the  CREDIT
INSURANCE  is  NOT REQUIRED  AS  A  CONDI-
TION FOR CREDIT. You have the option of assigning
any policy(s) you own or procure to cover such credit;
you  may  purchase  the  policy  from  the  agent  of  your
choice. You must be under age 71 for Credit Life and
under  age  70  and  working  30  hours  per  week  for
Credit  Disability  on  the  date  of  your  Advance  to  be
eligible  for  insurance  and  it  will  terminate  when  you
reach 71. You may rescind this request, in writing, any
time prior to the date of any Advance. If you purchase
the Credit Life or Credit Disability Insurance from the
Credit  Union,  you  hereby  authorize  the  Credit  Union
to  pay  said  premiums  to  the  insurer.  If  you  request
credit  insurance,  the  premium  will  be  calculated
monthly by multiplying the premium rate by your out-
standing Sub-account(s) balance. The current premium
rates  per  $1,000  of  the  monthly  outstanding  balance
are disclosed to you in the Credit Insurance Disclosure
which  is  part  of  your  loan  application.  The  premium
rates are subject to change.
The  premiums  for  your  credit  life  and/or  disability
insurance  are  based  on  your  outstanding  principal
balance and are paid periodically. They will be posted
to  your  Sub-account(s)  at  or  after  the  end  of  each
month,  will  be  financed  and  will  accrue  Finance
Charges. Although such insurance is freely cancelable,
it will be retained in effect until you have notified us of
your intention to cancel. If you are late in paying or fail
to pay a periodic payment, we may advance funds on
your behalf to pay such premiums and we may impose
additional Finance Charges on the amount advanced.

17. Protection  of  Collateral:  If  you  do  not  make  your
payments as required, or if any other event described in
the Acceleration of Payment paragraph occurs, we can
take  the  Collateral,  without  breach  of  the  peace,  and
sell it to reduce your debt after giving you the proper
notice or we can take advantage of any other rights and
remedies  given  to  secured  parties  under  the  Uniform
Commercial Code or other applicable law. You under-
stand that you will remain liable for any deficiency that
may  exist  after  application  of  the  proceeds  of  any
Collateral  to  your  existing  Sub-account(s)  balance.
You  agree:  (a)  to  maintain,  protect  and  preserve  the
Collateral;  (b)  not  to  use  or  permit  anyone  to  use  the
Collateral in violation of this Disclosure Statement and
Agreement  or  any  statute,  regulation  or  ordinance  or
any policy of insurance covering the Collateral; (c) to
pay  promptly  when  due  all  taxes,  charges,  encum-
brances or liens now or later imposed upon or affecting
the Collateral; (d) to notify us promptly of any change
of  your  name  or  address  on  file;  (e)  to  help  us  do  all
that is necessary to protect our security interest in the
Collateral,  including  giving  us  all  endorsements,
assignments,  financing  statements,  or  other  writings
which are necessary to protect our security interest and

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its priority; (f) not to sell, encumber, lease, rent, other-
wise  dispose  of,  or  give  the  Collateral  to  anyone  else
(other  than  us);  (g)  to  promptly  deliver  to  us  in  the
form  received,  all  proceeds  of  the  Collateral  you
receive: (h) at any reasonable time, upon our demand,
to exhibit to us and allow us to inspect the Collateral:
(i) unless delivered to us, to keep the Collateral at your
residence, as set forth in our records, and not to remove
it  from  that  location  without  our  written  permission;
and (j) to insure the Collateral for its full value against
loss  and  damage  with  an  insurance  company  of  your
choice  that  is  acceptable  to  us.  The  policies  for  such
insurance  may  say  that  we  are  to  be  paid  if  there  is  a
loss. If the Collateral is lost or damaged, we can use the
insurance  proceeds  to  replace  or  repair  it,  or  to  repay
any  amounts  you  owe  us.  The  maximum  insurance
deductible  is  $1,000.00,  for  non-real  estate  collateral.
If  you  do  not  insure  the  Collateral,  we  can  insure  it
(although we do not have to) and may treat the cost of
insurance as a further extension of credit and increase
payments  and  payroll  deduction  to  facilitate  payment
of this extension of credit for the term of the insurance
coverage,  or  may  demand  that  you  repay  us  immedi-
ately  for  all  costs  we  may  incur  in  obtaining  such
insurance. You understand that you shall repay us for
this cost of insurance and that such insurance may ben-
efit only us. You understand and acknowledge that the
Collateral  also  secures  any  other  obligation  that  you
may now or in the future have with us, including, with-
out  limitation,  additional  loans  (except  real  estate  and
to  residential  property  securing  such  loans),  and  fees
and costs charged against your account(s).

18. Savings  Clause:  If  any  of  the  provisions  of  this
Disclosure  Statement  and  Agreement  shall  be  held
invalid or unenforceable, then this Disclosure Statement
and Agreement shall be construed as if it did not contain
those  provisions  and  our  rights  and  your  obligations
hereunder shall be construed and enforced accordingly.
If a court later determines that the Annual Percentage
Rate  imposed  under  this  Disclosure  Statement  and
Agreement  exceeds  that  which  is  permitted  by  statute
or  regulation,  we  will  reduce  the  Annual  Percentage
Rate  to  the  highest  rate  permitted  by  law  and  any
excess interest previously paid will be applied to your
outstanding principal balance or repaid to us.

19. Protection of Rights: Our rights, powers and remedies
under  this  Disclosure  Statement  and  Agreement  shall
be cumulative and in addition to all rights, powers and
remedies provided by law. No failure or delay by us in
exercising  any  such  right,  power  or  remedy  shall  be
deemed a waiver thereof; any such waiver must be in
writing signed by us.

20. Joint  Account:  If  more  than  one  person  signs  this
Disclosure  Statement  and  Agreement,  the  obligations
and  liabilities  of  each  shall  be  joint  and  several;  each

person is equally responsible for the obligations under
this Disclosure Statement and Agreement, although we
may sue each, any, or all of you.

21. Governing  Law:  You  understand  and  agree  that  this
Disclosure Statement and Agreement will be governed
by applicable Federal law and the laws of the State of
Florida.

22. Application for Credit: You apply for credit with us
according  to  the  terms  and  conditions  of  this
Disclosure  Statement  and  Agreement.  You  also  apply
for  such  other  credit  as  you  may,  from  time  to  time,
request from us. If the Credit Application is approved
by us, you agree to all the terms and conditions of this
Disclosure  Statement  and  Agreement  and  grant  and
pledge  security  interests  in  all  personal  property
referred  to  in  this  Disclosure  Statement  and
Agreement.  You  understand  that  we  will  rely  on  the
information  in  the  Credit  Application  in  extending
credit to you, and your signature on any credit applica-
tion  or  disbursement  form  you  submit  to  us  is  your
pledge  that  all  of  the  information  contained  in  the
Credit Application or other document is, to the best of
your knowledge, correct and complete. You understand
that  we  are  authorized  to  receive  information  about
you.  You  also  agree  that  the  Credit  Application  shall
be our property whether or not the Credit Application
is  approved.  You  agree  to  keep  us  informed  of  any
material  changes  in  the  information  contained  in  the
Credit Application. Your signature on the loan applica-
tion  submitted  for  a  loan  verifies  your  receipt  of  this
document.

23. Promise  to  Pay:  In  exchange  for  the  Advances  made
and/or to be made, you promise to pay us the aggregate
of  all  sums  advanced  from  time  to  time  under  this
Disclosure  Statement  and  Agreement  plus  a  Finance
Charge  (interest)  in  regular  periodic  payments  as
described  in  the  Payment  paragraph  in  this  Disclosure
Statement  and  Agreement,  on  the  agreed  due  date  each
month, according to the stated terms and conditions. You
also agree to pay all of our reasonable costs and expenses
(including reasonable attorney fees), as a result of a refer-
ral to an attorney for collection, or at trial, bankruptcy or
on appeal, incurred in the collection of all amounts due
under  this  Disclosure  Statement  and  Agreement.  You
understand that payroll deduction is voluntary and that all
funds deducted from your deposit accounts are available
to you prior to the date of posting to your Sub-account(s). 

The  Loan  Rate  sheet  is  incorporated  into  and  part  of
the Disclosure Statement and Agreement booklet. The
loan  rates  are  accurate  as  of  disclosed  effective  date
and  are  subject  to  the  Modification  of  Plan  paragraph
in  the  Truth-in-Lending  Disclosure  Statement  and
Agreement. Terms reflected on the Loan Rate sheet are
maximum  terms  allowed.  The  Credit  Union  may

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require  shorter  repayment  terms  for  certain  loan
amounts.

VISA CREDIT CARD ACCOUNT AGREEMENT
(VISA Classic, Gold or Platinum)

For  certificate  secured  loans,  the  A.P.R.  (Annual
Percentage  Rate),  will  equal  the  dividend  rate  on  the
certificate  pledged  as  collateral,  plus  2%.  The  A.P.R.
will  be  disclosed  when  the  certificate  secured  loan  is
booked and disbursed by the Credit Union. If the cer-
tificate matures before the outstanding loan balance is
paid  off,  the  certificate  must  be  renewed  or  the  loan
balance paid in full. The loan’s A.P.R. may change on
the  date  the  certificate  is  renewed  and  will  be  2%
above the dividend rate on the certificate at renewal. If
the A.P.R. increases during the term of the loan, pay-
ments may increase and/or term extended.
For  loans  secured  by  stock,  certificates,  or  shares,  a
$1,000  minimum  advance  for  any  refinance  will  be
required.  To  refinance  an  existing  collateral  loan,  an
advance of $1,000 new money must be disbursed.
The following are variable rate loans: Stock-Variable,
Second Mortgage-Variable, (also known as the Home
Equity  Line  of  Credit).  The  A.P.R.  is  based  on  the
value of  an  index,  plus  a  margin,  if  applicable.    The
index is the highest Prime Rate published on the first
business  day  of the  quarter  for  a  Stock-variable  loan,
and  the  last  business  day of  the  month  for  a  Home
Equity  Line  of  Credit,  as  shown in  the  Wall  Street
Journal.  If there is more than one such rate reported,
the highest rate shall be used. The finance charge for
every $1 in the daily balance, as well as the number of
loan  payments,  may  increase  or  decrease  if  the index
rate, (Prime Rate), rises or falls by 1/8 of one percent
or  more,  respectively.  A  change  in  the  index  of  one
percentage  point  will  result  in  one  percentage  point
change in the same direction in the loan’s A.P.R. The
A.P.R. on any variable rate loan, except variable rate
Stock  Secured  Loans,  will  not  increase  to  more  than
18.00%, or decrease to less than 2.00%, as long as the
loan account remains open, as required by the Federal
Credit  Union  Act.  The  A.P.R.  on  any  variable  rate
Stock  Secured  Loan  will  not  increase  to  more  than
15.00%, or decrease to less than 7.50%, as long as the
Stock Secured Loan account remains open, as required
by  the  Federal  Credit  Union  Act.  For  the  A.P.R.  on
any  variable  rate  Second  Mortgage  loan  (also  known
as the Home Equity Line of Credit) see the Disclosure
Notice – Important Terms of our Home Equity Line of
Credit.
The  borrower’s,  co-borrower’s,  co-signer’s  salary  or
earnings may be subject to attachment or garnishment
to the extent allowed under applicable law.

Regulation  Z  permits  a  creditor  to  pass  on  fees  for
filing  a  security  interest  on  the  loan  collateral.  Filing
fees  charged  by  the  Credit  Union  are  the  amount
required by the applicable state. 

1.  Meaning of some words.  In this agreement, (a) “we,”
“us,”  “our”  and  “ours”  mean  IBM  Southeast
Employees’ Federal Credit Union or, if IBM Southeast
Employees’  Federal  Credit  Union  transfers  its  rights
under  this  agreement,  anyone  having  those  rights,  (b)
“you”  and  “your”  mean  anyone  in  whose  name  a
particular VISA Classic/Gold/Platinum account with us
is  at  any  time  open,  (c)  “your  account”  means  that
VISA  Classic/Gold/Platinum  account,  (d)  “your  card”
means  any  unexpired  VISA  Classic/Gold/Platinum
card issued by us for use with your account, (e) “cash
advance”  means  any  amount  of  credit  obtained  under
your  account  in  any  way  described  in  Section  3  and
owing to us, (f) “purchase” means any amount of credit
obtained  under  your  account  in  any  other  way  and
owing  to  us,  and  (g)  “the  balance  of  your  account”
means the total of all purchases, all cash advances and
all  annual  fees,  finance  charges,  dishonored  check
charges  and  card  replacement  charges  owing  under
your account. A finance charge is a charge for the use
of credit.

2. Purchases. Subject to the provisions of this agreement,
credit can be obtained under your account by present-
ing  your  card,  or  giving  the  account  number  on  your
card  by  mail,  internet  or  telephone,  to  buy  or  lease
goods or buy services any place that accepts your card.

3. Cash  Advances.  Subject  to  the  provisions  of  this
agreement,  credit  can  be  obtained  under  your  account
by (a) presenting your card at any of our offices or any
office  of  any  other  financial  institution  that  honors
your card or (b) using your card, together with the per-
sonal identification number (PIN) for your card, at any
electronic banking facility or automated teller machine
(ATM) that honors your card for the purpose of obtain-
ing credit, (c) using your Membership account number
and PIN to transfer a Cash Advance from your VISA
loan  to  a  checking  or  savings  account  via  the
Telephone Banking or Online Banking Systems, or (d)
as  an  automated  Overdraft  transfer  from  your  VISA
loan to a checking account.

4. Cash Advance Convenience Checks. IBM Southeast
EFCU also will allow you to obtain cash advances by
writing a VISA Cash Advance Convenience Check on
your  VISA  account,  unless  the  amount  of  the  check
will cause you to exceed your credit limit. Under this
Agreement,  you  may  obtain  cash  advances  by  either
using your Card to obtain instant cash or by writing a
check.  The  agreement  includes  within  the  term  “cash
advance”  both  cash  advances  obtained  by  using  the
card  and  cash  advances  obtained  by  writing  a  check.
VISA Cash Advance Convenience Checks are not cov-
ered by VISA Billing Rights or any other VISA spon-
sored  coverage.  Lost  or  Stolen  VISA  Cash  Advance

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Convenience Checks are protected with stop payments
and fraud loss procedures.

5. Credit  Limit.  Each  statement  we  send  or  deliver  to
you for your account will show the credit limit for your
account  on  the  date  of  the  statement.  We  can  change
the  credit  limit  at  any  time.  Any  change  in  the  credit
limit  will  take  effect  immediately.  If  we  lower  the
credit limit, we will send or deliver to you a notice that
we have done so. We will not have to notify you if we
raise the credit limit. You must not at any time allow
the balance of your account to exceed the credit limit.
If it does so, you must immediately pay us the excess.

6. Limitation  on  credit.  We  will  not  be  obligated  to
extend or liable for failing to extend credit under your
account.  For  example,  we  will  not  be  obligated  to
extend or liable for failing to extend credit under your
account if (a) at the time we decide whether to extend
the  credit  the  balance  of  your  account  exceeds  the
credit limit for your account, (b) at the time we decide
whether to extend the credit anything that would allow
us to declare the balance of your account immediately
due  has  happened,  (c)  before  we  refuse  to  extend  the
credit your account is canceled or suspended or other-
wise  limited  in  any  way  that  extending  the  credit
would violate, (d) before we refuse to extend the credit
we discover anything that we feel may adversely affect
your  credit  worthiness,  (e)  the  credit  is  sought  in  an
amount requiring our authorization and for any reason
we  are  unable  to  provide  the  authorization,  (f)  the
credit  is  sought  by  using  an  expired  VISA
Classic/Gold/Platinum  card  issued  by  us  for  use  with
your  account,  (g)  the  credit  is  sought  by  using  the
account  number  of  your  account  and  each  VISA
Classic/Gold/Platinum  card  issued  by  us  for  use  with
the  account  has  expired  or  (h)  at  the  time  we  decide
whether  to  extend  the  credit  we  in  good  faith  believe
that there is a dispute concerning your account between
you  and  anyone  else  in  whose  name  your  account  is
open  or  that  any  VISA  Classic/Gold/Platinum  card
issued by us for use with your account has been lost or
stolen  or  has  been  or  may  be  used  by  someone  not
authorized by you to do so. But, if we extend the cred-
it, it will be covered by this agreement, and we will not
be liable if, as a result of extending it, we do not extend
other credit under your account.

7. Statements. For any billing cycle for your account for
which there is any finance charge for your account or
at  the  end  of  which  any  amount  is  owing  to  or  by  us
under your account, we will send or deliver a statement
for your account to you unless applicable law prohibits
us  from  doing  so.  A  billing  cycle  for  your  account  is
either the period from the time we open your account
to  the  first  time  we  compute  the  amount  to  be  billed
under it or the period from any time we make the com-
putation to the next time we do so.

8. Payment. You must pay us in United States funds, the
balance of your account. You can pay it in full at any
time without penalty, or you can pay it in installments. 
IBM Southeast  EFCU’s  Periodic  Payment program
(automated  account  transfers)  may  be  used  to  satisfy
your  VISA loan’s  payment  obligations  with  transfers
from your Credit Union Savings or Checking account.
Funds  are  automatically  transferred  from  your  share
account  to  your  VISA  loan  account  on  your  payment
due date. If the funds are not available on the payment
due  date,  the  system  will  automatically  attempt  to
make  the  transfer  for  the  next  nine  (9)  consecutive
days.  If  the  funds  are  still  unavailable  after  the  tenth
(10th) day, the system will advance to your next sched-
uled  VISA  loan  payment  due  date.  At  that  time,  your
VISA loan may be past due, which may result in late
fees. An alternate method of payment such as a transfer
through Online Banking or Telephone Banking will be
required.

9. Application  of  payments.  Even  if  you  specify  other-
wise, we will apply any payment we receive for appli-
cation to the balance of your account to items included
in that balance in the following order: (a) to the extent
included  in  the  minimum  payment  for  your  account
shown on the most recent statement that we delivered
to you, (i) finance charges and (ii) charges for annual
fees,  late  fees,  overlimit  fees,  dishonored  check/ACH
charges,  PIN  replacement  charges,  statement  copy
fees,  sales  draft  copy  fees;  and  the  remaining  amount
to the balance with the lowest interest rate first in this
order:  (b)  billed  purchases,  (c)  billed  cash  advances,
(d) billed balance transfers, (e) unbilled purchases, (f)
unbilled cash advances, (g) unbilled balance transfers.
10.  Minimum  payment. By  the  due  date  shown  on  any
statement  for  your  account,  you  must  pay  at  least  the
minimum payment for your account shown on the state-
ment.  The  minimum  payment  will  be  the  total  of  (a)
rounded to the nearest dollar, the sum of (i) any amount
by  which  at  the  end  of  the  billing  cycle  the
balance of your account exceeds the credit limit for your
account and (ii) all previous minimum payments for your
account to the extent that they are overdue at the end of
the billing cycle are not included in (i) of this sentence.
But the minimum payment will not exceed the balance of
your account at the end of the billing cycle. But the mini-
mum payment will be no less than 2% of your statement
balance,  or  $10.00,  or  the  statement  balance,  if  the
amount  is  less  than  $10.00.  Inclusion  in  the  minimum
payment of any amount described in (b) of the preceding
sentence will not give you any additional time to pay it,
and it will remain immediately due. Paying more than the
minimum payment will not relieve you of the obligation
to  pay  any  future  minimum  payment  for  your  account,
nor will it allow you to pre-pay, or pay in advance, any
future  minimum  payment.  A  minimum  payment  is  due
each billing cycle, unless your balance is $0.00.

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11. Avoiding  finance  charges  on  purchase  (“grace 
period”).  For  any  billing  cycle  for  your  VISA
Classic/Gold/Platinum  account,  you  can  avoid  a
finance charge on purchases (including those posted to
your account during the billing cycle) if (a) the balance
of your account at the beginning of the billing cycle is
zero or (b) the total of payments and other credits post-
ed  to  your  account  after  the  beginning  of  the  billing
cycle  but  not  later  than  the  due  date  shown  on  the
statement  for  your  account  for  the  preceding  billing
cycle for your account equals or exceeds that balance.
12. Computation  of  finance  charges  for  all  Credit
Union VISA cards. Except as provided in Section 11,
you must pay a finance charge on any purchase or cash
advance from the day it is posted to your account to the
day  before  the  day  payment  of  it  is  posted  to  your
account.  The  finance  charge  for  your  account  for  any
billing  cycle  for  your  account  will  be  the  total  of  the
finance charges on purchases and cash advances for the
billing  cycle.  We  will  compute  the  finance  charge  on
purchases  or  cash  advances  for  the  billing  cycle  by
multiplying  the  average  daily  balance  of  that  type  of
credit for the billing cycle by the monthly periodic rate
for each card as shown, with the corresponding annual
percentage rate (APR) for each card as shown on a cur-
rent Loan Fee Schedule, "Loan Fees and Charges."
Each average daily balance is determined by taking
the beginning balance (of cash advances or purchases)
in your account each day, adding any new purchas-
es  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.
13. Over-Limit  Fee:  You  will  be  charged  an  Over-Limit
Fee on your Statement Date if your balance during that
billing period, minus any fees imposed during the cycle,
exceeds your credit limit.  You will be charged the fee
each  subsequent  month  until  your  new  balance  on  the
statement date, less any fees imposed during the cycle,
is  BELOW  your  credit  limit.    For  the  current  fee
amount,  please  see  the  separate  fee  schedule  “Loan
Fees and Charges” available upon request or from our
Web site.

14. Late charges: If you are ten (10) days late in making
your  VISA  payment,  you  will  be  assessed  a  Late
Charge that month and every month thereafter if your
payment is late.  For the current fee amount, please see
the  separate  fee  schedule  “Loan  Fees  and  Charges”
available upon request or from our Web site.

15. Dishonored check/ACH charge. If you use a check to
pay any amount owing under your VISA account, and
the  check  is  not  paid,  you  must  pay  us  a  Dishonored
Check/ACH  Charge.    For  the  current  fee  amount,

please  see  the  separate  fee  schedule  “Loan  Fees  and
Charges” available upon request or from our Web site.

16. Card replacement charges. If you request that a new
card be issued for your account, whether because your
card is damaged, lost, stolen or for some other reason,
you must pay us a Card Replacement Charge for each
card requested at the time of issuance.  For the current
fee amount, please see the separate fee schedule “Loan
Fees and Charges” available upon request or from our
Web site.

17. Sales Draft Copy Fee. If you request, we will provide
you  with  photocopies  of  credit  card  receipts.  We  will
charge  your  account  a  Sales  Draft  Copy  Fee  for  each
photocopy requested, provided it is not directly related
to a billing error. For the current fee amount, please see
the  separate  fee  schedule  “Loan  Fees  and  Charges”
available upon request or from our Web site.

18.  Security.  You  give  us  a  security  interest  in  shares 
(savings  and/or  checking  accounts)  at  IBM  Southeast
Employees’  Federal  Credit  Union,  and  you  authorize
the Credit Union to apply those shares as Collateral to
what  you  owe  on  your  credit  card  loan  if  you  are  in
default on your account.
You  understand  and  acknowledge  that  the  Collateral
also secures any other obligations that you may now or
in  the  future  have  with  us,  including,  without  limita-
tion, additional loans and credit card plans (except real
and/or  other  residential  property  securing  such  loans),
and fees and costs charged against your account(s).
You  further  understand  and  acknowledge  that  if  you
are  in  default  on  a  financial  obligation  to  us,  Federal
Law  gives  us  the  right  to  apply  the  balance  of  shares
and dividends in your account(s) at the time of default
to satisfy that obligation.
Once  you  are  in  default,  we  may  exercise  this  right
without further notice to you.
For  further  information  on  your  obligation  of  debt
repayment,  please  refer  to  the  separate  disclosure
Important  Account  Information  for  Our  Members,
Terms  and  Conditions  of  Your  Account,  Right  of
Offset for Repayment of Indebtedness.

19. Statutory  Lien  and  Lien  Right:    The  Credit  Union
has  the  right  to  impress  and  enforce  a  statutory  lien
against any shares and dividends you now or may later
have on deposit at the Credit Union in the event of fail-
ure to satisfy a financial obligation on any consumer or
credit  card  loan  that  you  have  now  or  in  the  future.
Lien rights obtained before death will also continue to
encumber your Credit Union share accounts in case of
loan  default.    The  Credit  Union  hereby  does  impress
that lien, and may enforce a lien without further notice
to the you.  These rights are granted in addition to the
Right of Offset for Repayment of Indebtedness. 

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20. Balance  immediately  due.  Except  to  the  extent  pro-
hibited  by  applicable  law,  we  can  declare  the  balance
of your account immediately due without notifying you
if any of the following happens: (a) any amount owing
under  this  agreement  or  any  other  indebtedness  from
you  to  us  existing  now  or  coming  into  existence  in
the future is not paid by the date it becomes due (even
though a late charge would not be imposed until later);
(b) any indebtedness from you to any financial institu-
tion  other  than  us  existing  now  or  coming  into
existence  in  the  future  is  not  paid  by  the  date  it
becomes due (even though a late charge would not be
imposed  until  later);  (c)  you  violate  any  provision  of
this  agreement  or  of  any  other  agreement  with  us
existing now or coming into existence in the future; (d)
you  die  or  become  incompetent  or  insolvent;  (e)  any
proceeding  under  any  bankruptcy  law  is  started  by  or
against  you;  (f)  anyone  starts  any  legal  proceeding  to
take any property belonging to you now or acquired by
you in the future to pay any indebtedness existing now
or  coming  into  existence  in  the  future;  (g)  any  tax  or
other  involuntary  lien  is  filed  against  any  property
belonging to you now or acquired by you in the future;
or (h) we discover that in any agreement with us exist-
ing  now  or  coming  into  existence  in  the  future,  any
application you have made, or make to us or any finan-
cial  statement  you  have  submitted  or  submit  to  us
made  any  false  or  misleading  statement  about  an
important matter.

21. Attorney’s  fee  Except  to  the  extent  prohibited  by
applicable law, if we incur a liability for an attorney’s
fee  to  an  attorney  who  is  not  a  salaried  employee  of
ours and whom we hire to bring a lawsuit to collect the
balance  of  your  account  after  we  declare  that  balance
immediately due, whether the fee is for service at trial,
bankruptcy or on appeal, you must pay us the fee to the
extent that is reasonable. The fee will be reasonable to
the extent that it does not exceed the largest of (a) 10%
of  that  balance,  or  (b)  the  maximum  amount  deter-
mined  by  a  court  to  be  reasonable.  To  the  extent
required by applicable law, we will pay you a reason-
able  attorney’s  fee  if  you  prevail  in  any  lawsuit
brought by us against you, or by you against us, in con-
junction with your account.

22. Court  costs.  Except  as  to  the  extent  prohibited  by
applicable law, you must pay all court costs we pay for
any  lawsuit  brought  by  an  attorney  who  is  not  a
salaried employee of ours and whom we hire to bring
lawsuit  to  collect  any  amount  owing  under  your
account.

23. Cancellation,  suspension  or  other  limitation.  You
can cancel your account at any time by notifying us in
writing that you are doing so. The cancellation will not
take effect until we receive the notice and have a rea-
sonable time to act on it. The notice must be sent to
us  at  P.O.  Box  5090,  Boca  Raton,  Florida  33431-

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0890.  Except  to  the  extent  prohibited  by  applicable
law,  we  can  cancel,  suspend  or  otherwise  limit  your
account  at  any  time  for  any  reason  without  notifying
you that we are going to do so. The cancellation, sus-
pension of other limitation will take effect immediately
unless  we  decide  to  have  it  take  effect  later.  If  you
cancel your account or learn that we have canceled it,
you must stop using it, prohibit further use of it and cut
in  half  and  return  to  us  each  unexpired  VISA
Classic/Gold/Platinum  card  issued  by  us  for  use  with
it.  If  you  learn  that  we  have  suspended  your  account,
you must stop using it and prohibit further use of it. If
you learn that we have placed any other limitation on
your account, you must use it only in accordance with
that limitation and prohibit its use except in accordance
with  that  limitation.  Cancellation  of  your  account  by
you,  or  cancellation,  suspension  of  other  limitation  of
your account by us will not affect any of your obliga-
tions under this agreement. For example, you must still
pay us all amounts that are then or later become owing
under  this  agreement  as  a  result  of  the  use  of  your
account  by  you  or  anyone  you  authorize  to  use  your
card or your account, whether the use occurs before or
after the cancellation, suspension or other limitation.
24. Ownership  of  VISA  Classic/Gold/Platinum  cards.
Each  VISA  Classic/Gold/Platinum  card  issued  by  us
for use with your account is and will remain our prop-
erty and must be returned to us if we request you to do
so. We or anyone acting for us can keep your card if it
is  used  after  your  account  has  been  canceled  or  sus-
pended  or  after  we  have  requested  you  to  return  it  to
us. For example, if your card is used at any electronic
banking  facility  after  your  account  has  been  canceled
or suspended, it might not be given back.

25. Nonliability.  We  will  not  be  liable  if  anyone  or  any
electronic banking facility fails to honor your card or if
anyone  fails  to  honor  the  account  number  of  your
account.  Except  to  the  extent  required  by  applicable
law, we will not be liable for any claim by you against
anyone who honors your card or the account number of
your account, and you must resolve the claim directly
with that person.

26. Unauthorized use. Except to the extent prohibited by
applicable law, you will be liable for any unauthorized
use of your account, including all transactions made by
you, and any co-borrowers or authorized users.

27. Statements  and  notices.  Any  statement  we  send  you
by regular mail for your account or any notice we send
you concerning this agreement or your account will be
sent  to  your  current  mailing  address  shown  in  our
records concerning your account. Any notice you send
us concerning this agreement or your account must be
in writing unless applicable law provides that it can be
given orally. Statement and billing information is also
available  with  Telephone  Banking,  eMessenger
eStatements and Online Banking.

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28.  Changes.  No  change  in  this  agreement  can  be  made
except  in  writing  signed  by  us.  Except  to  the  extent
prohibited  by  applicable  law,  we  can  change  this
agreement  at  any  time  and  apply  the  change  to  all  or
part  of  the  balance  of  your  account  when  the  change
takes  effect.  We  will  send  or  deliver  a  notice  of  the
change and its effective date to you.

29. No  notice  or  loss  of  rights.  We  can  do  any  of  the
following  without  notifying  you  or  losing  any  right
with  respect  to  your  account  or  against  you  or  any
property  belonging  to  you  now  or  acquired  by  you  in
the future: (a) accept any check or other order market
“paid  in  full”  or  with  similar  language  as  a  payment
under  this  agreement;  (b)  give  additional  time  for  the
payment  of  any  amount  owing  under  this  agreement,
regardless of the number of times we previously did so
and regardless of the length of any additional time we
previously  gave;  (c)  exercise,  give  us,  fail  to  exercise
or delay exercising any person or property; or (d) fail
to  protect  any  interest  in  any  property,  whether  by
failing  to  file  any  document  that  must  be  filed  in  a
public record or in any other way. For example, we can
sue you to collect the balance of your account whether
or not we sue anyone else.

30. Giving  up  of  rights  by  us.  No  right  with  respect  to
your account or against you or any property belonging
to  you  now  or  acquired  by  you  in  the  future  can  be
given up by us except in a writing signed by us.

31. If  account  is  open  in  names  of  more  than  one  (1)
person. If your account is open in the names of more
than  one  (1)  person,  all  of  them  will  be,  individually
and  together,  liable  under  this  agreement  and  in  con-
nection with your account. We can send or deliver any
statement  for  your  account  or  any  notice  concerning
this  agreement  or  your  account  to  any  of  them  alone,
and  it  will  be  effective  for  all  of  them.  Any  of  them
alone  can  obtain  credit  under  your  account  or  cancel
your account.

32. Conflicts. If any part of this agreement conflicts with
applicable law, the law will control, and this agreement
will  be  considered  changed  to  the  extent  necessary  to
comply with it.

33. Continued effectiveness. If any part of this agreement
is  determined  by  a  court  to  be  invalid,  the  rest  will
remain in effect.

34. Foreign  Transactions.  Purchases  and  cash  advances
made  in  foreign  countries  and  foreign  currencies  will
be  billed  to  you  in  U.S.  Dollars.  The  conversion
exchange rate between the transaction currency and the
billing currency used for processing international trans-
actions  to  U.  S.  Dollars  will  be  from  a  range  of  rates
which  may  vary  selected  by  VISA  USA  from  the
wholesale  currency  market  rate  or  the  government-
mandated  rate  in  effect  for  the  applicable  Central

Processing Date (CPD), in each instance, plus or minus
any  adjustment  determined  by  the  Credit  Union  as  a
VISA  Issuer.    A  VISA  International  Service
Assessment (ISA) Fee will be billed to you separately
as  the  Foreign  Currency  Conversion  Fee  on  all  cross-
border transactions.  This supports the implementation
of the International Service Assessment (ISA) Fee for
international transactions.  For the current fee amount,
please  see  the  separate  fee  schedule  “Loan  Fees  and
Charges” available upon request or from our Web site.
35. What  law  applies.  This  agreement  is  entered  into  by
us,  and  made,  in  Florida,  any  credit  extended  by  us
under your account will be extended by us in Florida,
and any payment under this agreement will be consid-
ered  to  be  accepted  by  us  in  Florida.  To  the  extent
allowed  by  Federal  law,  any  credit  extended  by  us
under  your  account  will  be  extended  by  us  under  the
authority of Federal law. Regardless of where you live
or  where  your  account  is  used  by  you  or  anyone  you
authorize  to  use  your  card  or  your  account,  any  legal
question  concerning  this  agreement  or  your  account
will  be  decided  in  accordance  with  (a)  to  the  extent
applicable,  Federal  law  and  (b)  to  the  extent  that
Federal law in inapplicable, Florida law without regard
to the law of any other state.

36. Entire  agreement.  This  agreement  is  the  final  and
complete  agreement  between  you  and  us  concerning
your account. Any statement concerning your account
made  by  any  of  our  employees  or  anyone  else  is  not
part of this agreement.

37. Agreement.  By  (a)  applying  for  your  account,  (b)
signing  your  card,  (c)  activating  your  card,  (d)  using
your card or the account number of your account or (e)
authorizing  anyone  else  to  use  your  card  or  your
account, you agree to be bound by all provisions of this
agreement.

38. Illegal  Transactions. Certain  forms  of  online  gam-
bling such as casino-style gaming, sports betting, pur-
chase of lottery tickets or electronic gaming chips may
violate local laws in countries where gambling is ille-
gal.    Internet  and  mail-order  sales  of  age-restricted
products,  such  as  alcohol  and  tobacco  products,  are
strictly  prohibited.    Use  of  your  card  for  any  illegal
transaction  will  result  in  the  termination  of  your  card
privileges.

NOTICE REGARDING UNAUTHORIZED USE
You will not be liable for any unauthorized transactions
of  any  card  issued  by  us  for  use  with  any  VISA
Classic/Gold/Platinum account we open for you as long as
you regularly check your monthly statements for transac-
tion  accuracy  and  notify  us  immediately  of  any  discrep-
ancies.    However,  the  Credit  Union  may  impose  greater
liability  if  we  determine  that  the  unauthorized  transac-
tion  was  caused  by  the  gross  negligence  or  fraudulent

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action of the cardholder in the handling of the account or
card, which may include your delay for an unreasonable
time in reporting unauthorized transactions.  Under these
circumstances,  we  may  increase  VISA’s  Zero  Liability
Policy from  $0  and  revoke  further  card  privileges.
VISA’s  Zero  Liability  Policy covers  U.  S.-issued  cards
only,  and  does  not  apply  to  commercial  card  or  ATM
transactions,  or  to  PIN  transactions  not  processed  by
VISA. 
To  assist  the  Credit  Union  in  preventing  the  unautho-
rized  use  of  your  account,  we  strongly  suggest  that  you
protect your VISA Credit Card with Verified by VISA, by
creating your own personal password to ensure that only
you can use your VISA Credit Card online.  To register
for  the  free  Verified  by  VISA program,  go  to
https://usa.visa.com/personal/security/vbv/index.html.

YOUR BILLING RIGHTS
This  notice  contains  important  information  about
your  rights  and  our  responsibilities  under  the  Fair  Credit
Billing Act.

Notify  Us  In  Case  of  Errors  or  Question  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  not  later  than
sixty (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 bill automatical-
ly from your savings or checking 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  thirty  (30)  days,
unless  we  have  corrected  the  error  by  then.  Within  ninety
(90)  days,  we  must  either  correct  the  error  or  explain  why
we  believe  the  bill  was  correct.  We  will  investigate  your
complaint  and  will  correct  any  error  promptly.  If  we  take
more  than  ten  (10)  business  days  to  do  this,  we  will  credit

your  account  for  the  amount  you  think  is  in  error,  so  that
you will have use of the money during the time it takes us to
complete  our  investigation.  We  may  take  up  to  ninety  (90)
days to investigate your complaint or question.

We  will  send  you  a  written  explanation  within  ten  (10) 
business days after we finish our investigation. You may ask
for  copies  of  the  documents  that  we  used  in  our 
investigation.

If you do not agree with our findings, put your complaint or
question  in  writing,  and  if  we  do  not  receive  it  within  ten
(10) business days, we may not recredit your account.

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  obliged  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 missing
payments on the 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  (10)  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  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.

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