IMPORTANT:  Please read this folder and retain it for your records.
VISA Disclosure Statement
G‑11213
In compliance with the requirements of the Federal Credit Protection Act of 1968 (Truth in Lending Act) which became 
effective July 1, 1969, this bank makes the following disclosure of credit terms applicable to the use of your Visa Account.

(1) With respect to cash advances, whether made by the use of 
your Visa Card or Overdraft Protection privileges or otherwise, 
and  regardless  of  when  payment  is  made,  an  initial  FINANCE 
CHARGE  equal  to  2%  of  the  cash  advance  is  imposed  for 
each such advance, and, in addition, a FINANCE CHARGE is 
imposed on the closing date for each billing cycle, computed by 
applying a Periodic Rate of .999% per month (11.99% ANNUAL 
PERCENTAGE RATE) to the average daily balance of such cash 
advances during such billing cycle.

(2) With respect to extensions of credit for goods and services, 
a FINANCE CHARGE is imposed on the closing date for each 
billing cycle, computed by applying a Periodic Rate of .999% per 
month (11.99% ANNUAL PERCENTAGE RATE) to the average 
daily  balance  of  such  extensions  of  credit  during  such  billing 
cycle, except that no FINANCE CHARGE for goods and services 
extensions of credit will be imposed for any billing cycle in which 
payment in full of the New Balance shown on the periodic billing 
statement for the preceding billing cycle is received prior to the 
Due Date shown therein.

(3) The average daily balance of cash advances is the sum of the 
actual amounts outstanding for such cash advances (whenever 
made,  including  cash  advances  made  for  the  first  time  during 
the billing cycle) on each day of the billing cycle, divided by the 
number of days in the billing cycle.  The average daily balance 
of extensions of credit for goods and services is the sum of the 
actual amounts outstanding for such extensions (whenever made, 
including such extensions of credit made for the first time during 
the billing cycle) on each day of the billing cycle, divided by the 
number of days in the billing cycle.  Extensions of credit for goods 

and services are considered a part of the average daily balance 
from the date of the transaction with the participating merchant 
or  the  first  day  of  the  billing  cycle  reflecting  the  transaction, 
whichever date is later.  Extensions of credit for cash advances 
are considered a part of the average daily balance from the date 
of the cash advance or the first day of the billing cycle reflecting 
the transaction, whichever date is later.

(4) The  Bank  takes  no  security  interest  directly  in  connection 
with the use of your Card.  Collateral, other than your principal 
dwelling, securing your other loans with the Bank  may also secure 
all amounts you owe under the Card Plan.

(5)  The  minimum  periodic  (Monthly)  payment  required  under 
the Card Plan is 3% of your New Balance or $10.00, whichever 
is greater.  In the event you fail to pay such minimum periodic 
(Monthly) payment within 10 calendar days after the Due Date 
shown  on  the  periodic  billing  statement  which  first  includes 
such minimum periodic (Monthly) payment, a late charge of up 
to  $20.00    may  be  imposed  on  your  next  succeeding  periodic 
billing statement.

(6) If any check received in payment of all or part of your Card 
account  is  returned  unpaid,  an  $20.00  handling  fee  will  be 
assessed and billed on the date the check is returned.

(7) “Reasonable  Attorney’s  Fees”  and  other  costs  of  collection 
may be imposed in the event you fail to pay the minimum periodic 
monthly payment required, or otherwise default on the terms of 
your cardholder agreement.

Your Billing Rights
Keep This Notice For Future Use

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

Notify  Us  in  Case  of  Errors  or  Questions 
About Your Bill

Your Rights and Our Responsibilities After 
We Receive Your Written Notice

(1) 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  Bank Card Department, PO Box 90002, 
Blacksburg, Virginia, 24062.  Write to us as 
soon as possible.  We must hear from you 
no  later  than  60  days  after  we  sent  you 
the first bill on which the error or problem 
appeared.  You can telephone us, but doing 
so will not preserve your rights.
(2)  In  your  letter,  give  us  the  following 
information: 

a. Your name and account number.
b. The dollar amount of the suspected 

error.

c. 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.

(3) If you have authorized us to pay your 
credit  card  bill  automatically  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.

(1) We must acknowledge your letter within 
30 days, unless we have corrected the error 
by  then.   Within  90  days,  we  must  either 
correct the error or explain why we believe 
the bill was correct.
(2) After we receive your letter, we cannot try 
to collect any amount you question, or report 
you as delinquent.  We can continue to bill 
you for the amount you question, including 
finance  charges,  and  we  can  apply  any 
unpaid amount against your credit limit.  You 
do not have to pay any questioned amount 
while we are investigating, but you are still 
obligated to pay the parts of your bill that 
are not in question.
(3) If we find that we made a mistake on 
your bill, you will not have to pay any finance 
charges related to any questioned amount.  
If we didn’t make a mistake, you may have 
to pay finance charges, and you will have 
to make up any missed payments on the 
questioned amount.  In either case, we will 
send you a statement of the amount you 
owe and the date that it is due.
(4) 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 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.
(5) 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.

NOTICE:  Please see reverse side for Rules and Regulations and Cardholder Agreement

 
 
 
VISA
Rules and Regulations and Cardholder Agreement

These Rules and Regulations apply to any Visa Card  (“Card”) issued, or to be issued by this bank (“Bank”).  Any 
individual, firm, partnership or corporation (“Cardholder”) who either retains, makes application for, signs, uses or 
authorizes the use of the Card, agrees to be bound by the following Rules and Regulations, and agrees that they 
shall constitute the agreement between the Bank and Cardholder governing the use of the Card.  Furthermore, 
such Cardholder expressly agrees to be bound by the rates and charges applicable to the use of the Card, as set 
forth in the Disclosure Statement included within this folder.

(1) Bank may refuse to issue  a Card, or may 
revoke  any  Card  issued  to  a  Cardholder, 
with or without cause or notice. The Card 
at  all  times,  remains  the  property  of  the 
Bank  and  may  be  repossessed  by  the 
Bank at any time.  Any revoked Card must 
be  surrendered  upon  demand,  or  upon 
knowledge of its revocation, to the Bank or 
its agent designated to repossess the Card.  
No expired or revoked Card shall be used to 
obtain, or attempt to obtain, credit.
(2) The  Cardholder  may,  under  the  terms 
hereof  only,  buy  goods  or  services  from 
the businesses displaying the Visa sign or 
Interbank (“Merchant”) or borrow cash from 
the  Bank  or  other  banks  displaying  such 
signs, by use of the Card.  Any reasonable 
and proper procedures required by the Bank 
or the Merchant honoring the Card must be   
followed.  The card must be signed by the 
Cardholder,  or  authorized  user,  to  insure 
its proper use.
(3) The Cardholder agrees that all transac-
tions initiated by use of the Card are legal 
in  the  jurisdiction  where  Cardholder  lives 
and/or  where  the  transaction  occurred. 
Internet gambling may be illegal in certain 
jurisdictions,  including  the  United  States. 
The Card may only be used for legal trans-
actions. Display of a payment card logo by 
an  online  merchant  does  not  mean  that 
internet  gambling  transactions  are  lawful 
in all jurisdictions. The Cardholder agrees 
to  repay  according  to  the  terms  of  this 
Agreement all transactions initiated by use 
the Card, whether deemed legal or illegal.
(4) The Cardholder shall not use the Card if 
such use would make the Cardholder’s debt 
to the Bank by use of the Card greater than 
the limit set by the Bank from time to time by 
notice to the Cardholder.  However, the Bank 
may,  at  its  option,  recognize  transactions 
(and  extend  credit)  which  will  cause  the 
Cardholder’s outstanding balance to exceed 
the maximum credit limit.
(5)  The Cardholder shall be responsible for 
all credit obtained (through purchases, cash 
advances or otherwise) by the authorized 
use  of  the  Card  by  any  person.    The 
Cardholder shall be liable for unauthorized 
use  of  the  Card  (for  purchases,  cash 
advances or otherwise) only if (1) the Card 
has been accepted, (2) the Bank has given 
notice to the Cardholder of potential liability, 
(3) the  Bank has provided the Cardholder 
with  a  toll  free  telephone  number  to  be 
called  in  the  event  of  loss  or  theft,  and 
(4)  the  unauthorized  use  occurs  before 
the  Cardholder  has  given  notice  of  the 
loss  or  theft.   The  Cardholder’s  maximum 
liability is limited to $50.  Should the Bank 
fail to comply with these requirements, the 

Cardholder has no liability whatsoever for 
unauthorized use of the  Card. 
(6)  If  any  Card  is  lost  or  stolen,  the 
Cardholder  shall  immediately  notify  the 
Bank upon discovery of such loss or theft.  
The  Cardholder  shall  confirm  such  notice 
in writing within 48 hours.  The Cardholder 
shall  cooperate  completely  with  the  Bank 
in  its  attempt  to  recover  the  Card  from 
unauthorized users and  shall assist in the 
prosecution of such person(s).
(7)  At  the  time  of  obtaining  each  cash 
advance  or  of  making  each  purchase 
transaction, the Cardholder, or authorized 
user,  shall  sign  a  cash  advance  slip  or 
sales slip evidencing the transaction.  The 
word “slip” shall include a draft or any other 
instrument  acknowledging  or  recognizing 
the  transaction.   The  Cardholder  shall  be 
furnished  one  properly  executed  copy  of 
each slip.
(8)  The  Bank  shall  have  no  liability  or 
responsibility if any Merchant or other bank 
refuses  to  honor  the  Card,  and  the  Bank 
shall not be, or be deemed , a party to any 
purchases or other transaction between the  
Cardholder (or other user of the Card) and 
Merchant,  even  though  the  Bank  may  be 
obligated to make disbursements directly to 
such Merchant.  Under the Fair Credit Billing 
Act,  if  there  is  a  dispute  or  problem  with 
property or services purchased on the basis 
of such Card, the Cardholder may have the 
right not to pay the remaining amount due 
on such purchases, if the Cardholder first 
tries in good faith to return them or give the 
Merchant a chance to correct the problem. 
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.
Except for transactions governed by the Fair 
Credit  Billing  Act  provisions  above,  upon 
assignment of the evidence of debt by the 
Merchant to Bank, the Cardholder’s liability 
to the Bank shall be immediate and absolute, 
and the Bank shall not be responsible for 
any claims or defenses the Cardholder may 
have against any Merchant. 
(9)  The  Bank  will  bill  the  Cardholder 
monthly,  on  a  date  selected  by  the  Bank, 
for amounts becoming due through the use 
of the Cardholder’s Card.  Upon receipt, the 
Cardholder  should  examine  each  bill  and 
immediately notify the Bank of any charge 
or item which the Cardholder believes to be 

Bank Card Department

PO Box 90002, Blacksburg, VA 24062-9002
540-951-6235 or (800) 951-6235

in error, or subject to dispute.  Any charge 
or item for which the  Bank is not notified 
within sixty (60) days after the billing date 
shall be deemed to be correct.
(10)  Notwithstanding  anything  herein,  in 
the event of (1) default by the Cardholder 
in  making  any  payment  when  due  and 
payable,  (2)  default  by  the  Cardholder 
under  any  provision  of  these  Rules  and 
Regulations,  (3)  the  Cardholder’s  death, 
insolvency,  or  assignment  for  the  benefit 
of creditors, (4) a petition filed or any other 
proceeding commenced under the Federal 
Bankruptcy  Act  or  any  state  insolvency 
statute  by  or  against  Cardholder,  or  (5)  a 
receiver  appointed  for,  or  a  writ  or  order 
of attachment, levy or garnishment issued 
against  the  Cardholder  or  any  of  the 
Cardholder’s  property,  assets  or  income, 
then,  at  the  Bank’s  option  all  amounts 
due from the Cardholder to the Bank shall 
become immediately due and payable, and 
in  any  such  event  the  Cardholder  agrees 
to  pay  all  costs  of  collection,  including 
reasonable  attorney’s  fees,  incurred  by 
the Bank.
(11) The Bank may modify or amend these 
Rules and Regulations, in whole or in part, 
at any time or times, without notification to 
the Cardholder, provided, however, that the 
credit terms and finance charges referred 
to  in  the  disclosure  statement  on  this 
document shall in no manner be modified 
without first giving such notice.
(12) The construction and performance of 
this  agreement  shall  be  governed  by  the 
laws  of Virginia  and  subject  to  applicable 
federal law.
(13)  Notice  required  to  be  given  by  these 
Rules and Regulations, by law, or desired 
to be given by the Bank, shall be deemed 
given  if  and  when  posted  in  the  United 
States mail, postage prepaid, addressed to 
the Cardholder at the last known address 
as shown on the Bank’s records.
(14)  With  respect  to Visa  cards  only,  the 
exchange  rate  between  the  transaction 
currency and the billing currency used for 
processing  international  transactions  is  a 
rate selected by Visa from a range of rates 
available  in  wholesale  currency  markets 
for the applicable central processing date, 
which may vary from the rate that Visa itself 
receives or the government-mandated rate 
in effect for the applicable central processing 
date.  We  add  a  1%  currency  conversion 
fee  to  the  billed  amount  posted  to  your 
statement.