BUSINESS CREDIT CARD AGREEMENT 

This Business Credit Card Agreement ("Agreement") includes this document, any letter, card carrier, card insert, 
addendums, any other document accompanying this Agreement, any application that you signed or submitted to 
the  Credit  Union,  and  any  notification  of  changes  to  this  Agreement.  The  words  "you"  and  "your"  mean  each 
person, each business or organization ("organization"), and each officer or owner of the organization who agrees 
to be bound by this Agreement as set forth below. The words we, our, us and "Credit Union" means the Credit 
Union  whose  name  appears  on  this  Agreement  or  anyone  to  whom  the  Credit  Union  transfers  this  Agreement. 
The  word  "card"  means  the  MasterCard  business  credit  card  you  receive  from  the  Credit  Union  and  any 
duplicates, renewals, or substitutions the Credit Union issues to you. The word "account" means the credit card 
line of credit account the Credit Union approves for you that is subject to this Agreement.  

1.  PERSONS BOUND.  By signing (in ink, electronically or digitally) any business loan application stating your 
agreement to be bound by this Agreement or by using the card or account we issue to you, or by authorizing an 
employee to use the card or account we issue to you, you agree to be bound by the terms of this Agreement. If 
you are an officer or owner obtaining an account for your organization, you agree to the terms of this Agreement 
in your personal capacity as well as your capacity as an officer or owner authorized to bind the organization to this 
Agreement. 

2.  USING YOUR ACCOUNT.  If you are approved for an account, the Credit Union will establish a line of credit 
for you. The amount of your credit limit is set forth on the Addendum accompanying this Agreement. You agree 
that your credit limit is the maximum amount (purchases, cash advances, finance charges, plus "other charges") 
that  you  will  have  outstanding  on  your  account  at  any  time.  If  you  exceed  your  credit  limit,  you  must  pay  the 
amount you are over your limit plus any fees and unpaid finance charges before payments will begin to restore 
your credit limit. In addition, a fee may be imposed for exceeding your credit limit. You may request an increase in 
your  credit  limit  only  by  a  method  acceptable  to  the  Credit  Union.  The  Credit  Union  may  increase  or  decrease 
your  credit  limit,  refuse  to  make  an  advance  and/or  terminate  your  account  at  any  time  for  any  reason  not 
prohibited by law. If you are permitted to obtain cash advances on your account, we may from time to time issue 
convenience checks to you that may be drawn on your account. Convenience checks may not be used to make a 
payment  on your  account  balance.  If  you  use a convenience check  it  will be posted  to  your  account  as a  cash 
advance. We reserve the right to refuse to pay a convenience check drawn on your account for any reason and 
such refusal shall not constitute wrongful dishonor.  

You may request that we stop the payment of a convenience check drawn on your account. You agree to pay any 
fee imposed to stop a payment on a convenience check issued on your account. You may make a stop payment 
request  orally,  if  permitted,  or  in  writing.  Your  request  must  be  made  with  sufficient  time  in  advance  of  the 
presentment of the check for payment to give us a reasonable opportunity to act on your request. In addition, your 
request must accurately describe the check including the exact account number,  the payee, any check number 
that  may  be  applicable,  and  the  exact  amount  of  the  check.  You  may  make  a  stop  payment  request  orally  but 
such a request will expire after 14 days unless you confirm your request in writing within that time. Written stop 
payment  orders  are  effective  only  for  six  (6)  months  and  may  be  renewed  for  additional  six  month  periods  by 
requesting  in  writing  that  the  stop  payment  order  be  renewed.  We  are  not  required  to  notify  you  when  a  stop 
payment  order  expires.  If  we  re-credit  your  account  after  paying  a  check  or  draft  over  a  valid  and  timely  stop 
payment order, you agree to sign a statement describing the dispute with the payee, to assign to us all of your 
rights against the payee or other holders of the check or draft and to assist us in any legal action. You agree to 
indemnify  and  hold  us  harmless  from  all  costs  and  expenses,  including  attorney's  fees,  damages,  or  claims, 
related to our honoring your stop payment request or in failing to stop payment of an item as a result of incorrect 
information provided to us or the giving of inadequate time to act upon a stop payment request. 

3.  STATEMENT OF BUSINESS PURPOSE. You agree that you have represented to us that you are obtaining 
your  account  for  business  purposes  that  all  purchases,  cash  advances,  balance  transfers,  use  of  any 
convenience  checks  issued  on  your  account  and  any  other  use  of  your  account  will  only  be  for  a  business 
purpose. You agree that you will never use your account for any personal, household or family purposes. 

4.  USING YOUR CARD.  You may use your card to make purchases from merchants and others who accept 
your card. The Credit Union is not responsible for the refusal of any merchant or financial institution to honor your 
card.  If  you  wish  to  pay  for  goods  or  services  over  the  Internet,  you  may  be  required  to  provide  card  number 

© CUNA MUTUAL GROUP, 2008, 11, ALL RIGHTS RESERVED                                                                                                                        YPAAF0 (BXCM12)-e 

 
 
           
 
 
 
 
 
 
 
 
security  information  before  you  will  be  permitted  to  complete  the  transaction.  In  addition,  the  Credit  Union  may 
permit you to obtain cash advances from the Credit Union, from other financial institutions that accept your card, 
and  from  some  automated  teller  machines  (ATMs).  (Not  all  ATMs  may  accept  your  card.)  If  the  Credit  Union 
authorizes  ATM  transactions  with  your  card,  it  will  issue  you  a  personal  identification  number  (PIN).  To  obtain 
cash advances from an ATM, you must use the PIN that is issued to you for use with your card. You agree that 
you will not use your card for any transaction that is illegal under applicable federal, state or local law. Even if you 
use your card for an illegal transaction, you will be responsible for all amounts and charges incurred in connection 
with the transaction. If you are permitted to obtain cash advances on your account, you may also use your card to 
purchase instruments and engage in transactions that we consider the equivalent of cash. Such transactions will 
be posted to your account as a cash advance and include, but are not limited to, wire transfers, money orders, 
bets, lottery tickets, and casino gaming chips as applicable. This paragraph shall not be interpreted as permitting 
or authorizing any transaction that is illegal. 

5.  RESPONSIBILITY.  You agree to pay all charges (purchases and cash advances, balance transfers, use of 
convenience checks and any other charge) to your account that are made by you or anyone whom you authorize 
to use your account. You also agree to pay all finance charges and other charges added to your account under 
the  terms  of  this  Agreement  or  another  agreement  you  made  with  the  Credit  Union.  If  there  is  more  than  one 
person  bound  to  this  Agreement,  each  will  be  individually  and  jointly  responsible  for  paying  all  amounts  owed 
under  this  Agreement.  If  you  are  an  organization,  the  officer  or  owner  that  obtained  the  account  for  the 
organization  is  also  personally  obligated  for  all  charges  made  under  the  account.  This  means  that  the 
Credit Union can require any one of you to individually repay the entire amount owed under this Agreement. In 
addition  each  person  bound  under  this  Agreement  as  well  as  any  authorized  user  may  make  purchases 
individually and if cash advances are permitted for your account, may obtain cash advances individually. 

6. 
INTEREST  RATE.    The  Interest  Rates  applicable  to  purchases,  cash  advances,  and  balance  transfers  are 
disclosed  on  the  Addendum  that  accompanies  this  Agreement.  Any  penalty  rate  that  may  be  imposed  is  also 
disclosed  on  the  Addendum.  These  rates  may  be  either  fixed  or  variable  as  disclosed  in  the  Addendum 
accompanying  this  Agreement.  If  the  rate  for  your  account  is  fixed,  the  rate  charged  on  purchases,  cash 
advances, balance transfers, and any penalty rate will be fixed and will not vary from month to month unless we 
notify  you  in  advance  that  the  rate  will  change.  If  the  rate  for  your  account  is  variable,  as  indicated  on  the 
accompanying  Addendum,  the  rate  charged  on  purchases,  cash  advances,  balance  transfers  and  any  penalty 
rate  will  vary  periodically  as  disclosed  in  the  Addendum  accompanying  this  Agreement.  The  initial  rate  on  your 
account for certain types of transactions may be an introductory discounted rate (Introductory Rate) that is lower 
than  the  rate  that  would  ordinarily  apply  for  that  type  of  transaction.  If  an  Introductory  Rate  applies  to  your 
account,  the  rates  and  the  period  of  time  it  will  be  effective  is  shown  on  the  Addendum  accompanying  this 
Agreement.  After  the  Introductory  Rate  period  expires,  the  Interest  Rate  will automatically  increase  to  the  rates 
that would ordinarily apply for that type of transaction based on the terms of this Agreement. 

7.  FINANCE CHARGE CALCULATION METHOD FOR PURCHASES.  New purchases posted to your account 
during  a  billing  cycle  will  not  incur  a  finance  charge  for  that  billing  cycle.  Finance  charges  begin  to  accrue  on 
those  purchases  from  the  first  day  of  the  next  billing  cycle,  unless  you  paid  the  entire  New  Balance  on  the 
previous  cycle’s  billing  statement  by  the  Payment  Due  Date  of  that  statement.  To  avoid  an  additional  finance 
charge  on  the  balance  of  purchases,  you  must  pay  the  entire  New  Balance  on  the  billing  statement  by  the 
Payment  Due  Date  of  that  statement.  The  finance  charge  is  calculated  separately  for  purchases  and  cash 
advances.  For  purchases,  the  finance  charge  is  computed  by  applying  the  periodic  rate  to  the  average  daily 
balance of purchases. To get the average daily balance of purchases, we take the beginning outstanding balance 
of purchases each day and subtract any payments and/or credits that we apply to the purchase balance. (We do 
not add in any purchases posted during the billing cycle.) This gives us the daily balance of purchases. Then, we 
add all the daily balances of purchases for the billing cycle together and divide the total by the number of days in 
the billing cycle. This gives us the average daily balance of purchases. 

8.  FINANCE CHARGE CALCULATION METHOD FOR CASH ADVANCES.  A finance charge begins to accrue 
on cash advances from the date you get the cash advance or from the first day of the billing cycle in which the 
cash advance is posted to your account, whichever is later. To avoid an additional finance charge on the balance 
of cash advances, you must pay the entire New Balance on the billing statement by the Payment Due Date of that 
statement. For cash advances, the finance charge is computed by applying the periodic rate to the average daily 
balance  of  cash  advances.  To  get  the  average  daily  balance  of  cash  advances,  we  take  the  beginning 
outstanding  balance  of  cash  advances  each  day,  add  in  any  new  cash  advances,  and  subtract  any  payments 
and/or  credits  that  we  apply  to  the  cash  advance  balance.  This  gives  us  the  daily  balance  of  cash  advances. 
Then,  we  add  all  the  daily  balances  of  cash  advances  for  the  billing  cycle  together  and  divide  the  total  by  the 
number of days in the billing cycle. This gives us the average daily balance of cash advances. 

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9.  OTHER CHARGES.  In addition to the Interest Rate, additional fees may be imposed on your account. The 
amount and description of these fees are disclosed on the Addendum accompanying this Agreement. 

10.  PAYMENTS.  Each month you must pay at least the minimum payment shown on your statement by the date 
specified  on  the  statement  or  no  later  than  twenty-five  (25)  days  from  the  statement  closing  date,  whichever  is 
later. If your statement says the payment is "Now Due," your payment is due no later than twenty-five (25) days 
from  the  statement  closing  date.  All  payments  must  be  made  in  U.S.  dollars  and  if  made  by  a  negotiable 
instrument such as a check or money order, must be in a form acceptable to us and drawn on a U.S. financial 
institution. You may pay more frequently, pay more than the minimum payment or pay the Total New Balance in 
full.  If  you  make  extra  or  larger  payments,  you  are  still  required  to  make  at  least  the  minimum  payment  each 
month  your  account  has  a  balance  (other  than  a  credit  balance).  The  minimum  payment  for  your  account  is 
shown on the Addendum accompanying this Agreement. In addition to the minimum payment, you must also pay, 
by the date specified above, the amount of any prior minimum payment(s) that you have not made, all outstanding 
unpaid fees and charges, and any amount you are over your credit limit. The Credit Union also has the right to 
demand immediate payment of any amount by which you are over your credit limit. Subject to applicable law, your 
payments may be applied to what you owe to the Credit Union in any manner the Credit Union chooses. We may 
accept checks marked "payment in full" or with words of similar effect without losing any of our rights to collect the 
full balance of your account with us. 

11.  FOREIGN  TRANSACTIONS.  If  you  make  a  purchase  or  obtain  a  cash  advance  in  a  foreign  currency,  the 
transaction  will  be  debited  from  your  account  in  U.S.  dollars.  MasterCard  will  convert  the  transaction  into  U.S. 
dollars depending on whether you complete the transaction with a MasterCard or if the transaction is processed 
by  a  network  operated  or  affiliated  with  MasterCard.  For  transactions  processed  through  MasterCard,  the 
exchange  rate  used  to  convert  foreign  currency  transactions  to  U.S.  dollars  is  either  a  government-mandated 
exchange  rate  or  a  wholesale  exchange  rate  that  is  selected  by  MasterCard.  The  rate  MasterCard  uses  for  a 
particular  transaction  is  the  rate  MasterCard  selects  for  the  applicable  currency  on  the  day  the  transaction  is 
processed. The exchange rate used to convert the transaction may differ from the rate MasterCard receives and 
may differ from the rate applicable on the date the transaction occurred or was posted to your account.  

12.  COLLECTION COSTS.  You agree to pay all costs of collecting the amount you owe under this Agreement, 
including court costs and reasonable attorney's fee, as permitted by applicable state law.  

13.  SECURITY INTEREST.  If you give the Credit Union a specific pledge of shares by signing a separate pledge 
of  shares,  your  pledged  shares  will  secure  your  account.  You  may  not  withdraw  amounts  that  have  been 
specifically  pledged  to  secure  your  account  until  the  Credit  Union  agrees  to  release  all  or  part  of  the  pledged 
amount. In addition, your account is secured by all other shares you have in any individual or joint account with 
the Credit Union, except for shares in an Individual Retirement account or in any other account that would lose 
special tax treatment under state or federal law if given as security. These other shares may be withdrawn unless 
you are in default under this Agreement. You authorize the Credit Union to apply the balance in your individual or 
joint  share  accounts  to  pay  any  amounts  due  on  your  account  if  you  should  default.  Collateral  securing  other 
loans you have with the Credit Union may also secure this loan, except that a dwelling will never be considered as 
security for this account, notwithstanding anything to the contrary in any other agreement.  

14.  DEFAULT.  You will be in default if you fail to make any minimum payment or other required payment by the 
date that it is due. You will be in default if you; a) break any promise you make under this Agreement; b) exceed 
your  credit  limit;  c)  are  a  natural  person,  if  you  die;  d)  are  an  organization,  you  cease  to  exist;  e)  are  an 
organization, you change your legal structure so that the person obligating the organization to this Agreement is 
no longer authorized to bind it to legal agreements; f) file for bankruptcy or become insolvent; g) make any false 
or  misleading  statements  in  any  credit  application  or  credit  update;  or  h)  if  something  happens  that  the  Credit 
Union believes may substantially reduce your ability to repay what you owe. When you are in default, the Credit 
Union  has  the  right  to  demand  immediate  payment  of  your  full  account  balance  without  giving  you  notice.  If 
immediate payment is demanded, you agree to continue paying finance charges, at the applicable interest rate, 
until what you owe has been paid, and any shares that were given as security for your account may be applied 
towards what you owe.  

15.  CHANGING  OR  TERMINATING  YOUR  ACCOUNT.    The  Credit  Union  may  change  the  terms  of  this 
Agreement and any attached Addendum from time to time. Notice of any change will be given in accordance with 
applicable  law.  If  permitted  by  law,  the  change  will  apply  to  your  existing  account  balance  as  well  as  to  future 
transactions.   

Either  you  or  the  Credit  Union  may  terminate  this  Agreement  at  any  time,  but  termination  by  you  or  the  Credit 
Union will not affect your obligation to pay the account balance plus any finance and other charges you owe under 

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this Agreement. You are also responsible for all transactions made to your account after termination, unless the 
transactions were unauthorized.   

The card or cards you receive remain the property of the Credit Union and you must recover and surrender to the 
Credit Union all cards upon request or upon termination of this Agreement whether by you or the credit union. The 
Credit  Union  has  the  right  to  require  you  to  pay  your  full  account  balance  at  any  time  after  your  account  is 
terminated, whether it is terminated by you or the Credit Union.   

16.  CHANGING OR TERMINATING AUTHORIZED USERS. Upon your request, we may issue additional cards 
for authorized users that you designate. You must notify us in writing of any termination of an authorized user's 
right to access your account. Your letter must include the name of the authorized user and your account number 
and/or  any  subaccount  number  issued  to  the  authorized  user  along  with  the  authorized  user's  card  and  any 
convenience or other access checks issued to the authorized user. If you cannot return the authorized user's card 
or access checks and if you request your account to be closed, we will close your account and you may apply for 
a new account. 

17.  LIABILITY  FOR  UNAUTHORIZED  USE-LOST/STOLEN  CARD  NOTIFICATION.  You  may  be  liable  for  the 
unauthorized  use  of  your  card  or  account.  Notify  us  immediately,  in  writing  or  by  telephone  at  the  address  or 
phone  number  included  with  this  Agreement,  if  your  card  is  lost,  stolen  or  you  suspect  there  has  been 
unauthorized use of your card or account. After we receive your notification, you will not be liable for any further 
unauthorized use of your card or account.  

If you are an organization with 10 or more employees and we have issued 10 or more cards on your account for 
use by your employees, you will be liable for all unauthorized use of your cards or account before notification 
to us unless your liability may be limited by MasterCard liability limitation rules as set forth below. Otherwise, you 
will be liable for up to $50 for the unauthorized use of your card or account before notification to us unless your 
liability  is  further  limited  by  MasterCard  liability  limitation  rules  as  set  forth  below.  Unauthorized  use  does  not 
include use of a card by an authorized user in an unauthorized manner.  

If  your  card  is  a  MasterCard,  you  may  not  be  liable  for  any  unauthorized  purchase  transaction  if  you  exercise 
reasonable care in safeguarding your card from risk of loss or theft, have not reported two or more incidents of 
unauthorized use in the last twelve (12) months, and if your account is in good standing.   

18.  CREDIT REVIEW AND RELEASE OF INFORMATION.  You authorize the Credit Union to investigate your 
credit standing when opening or reviewing your account. You authorize the Credit Union to disclose information 
regarding your account to credit bureaus and creditors who inquire about your credit standing. If your account is 
eligible  for  emergency  cash  and/or  emergency  card  replacement  services,  and  you  request  such  services,  you 
agree that we may provide personal information about you and your account that is necessary to provide you with 
the requested service(s). 

19.  RETURNS AND ADJUSTMENTS.  Merchants and others who honor your card may give credit for returns or 
adjustments, and they will do so by sending the Credit Union a credit slip which will be posted to your account. If 
your  credits  and  payments  exceed  what  you  owe  the  Credit  Union,  the  amount  will  be  applied  against  future 
purchases and cash advances. If the credit balance amount is $1 or more, it will be refunded upon your written 
request or automatically after six (6) months. 

20.  ADDITIONAL BENEFITS/CARD ENHANCEMENTS.  The Credit Union may from time to time offer additional 
services to your account, such as travel accident insurance or a liability waiver program, at no additional cost to 
you.  You  understand  that  the  Credit  Union  is  not  obligated  to  offer  such  services  and  may  withdraw  or change 
them at any time. 

21.  EFFECT OF AGREEMENT.  This Agreement is the contract which applies to all transactions on your account 
even though the sales, cash advances, credit or other slips you sign or receive may contain different terms.  

22.  NO WAIVER.  The Credit Union can delay enforcing any of its rights any number of times without losing them.  

23.  STATEMENTS  AND  NOTICES.    Unless  separate  subaccounts  have  been  set  up  under  your  account  for 
authorized  users,  statements  and  notices  will  be  mailed  to  you  at  the  appropriate  address  you  have  given  the 
Credit Union. You agree to notify us at least 10 days in advance of any change in address. Notice sent to any one 
person  bound  under  this  Agreement  will  be  considered  notice  to  all.  If  we  have  agreed  to  send  statements  for 
subaccounts  under  your  account  that  have  been  issued  to  authorized  users,  we  will  send  statements  to  the 
appropriate  address  you  have  provided  for  that  authorized  user.  You  agree  to  notify  us  at  least  10  days  in 

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advance of any change in address for an authorized user. You are responsible for payment of all amounts shown 
on a statement delivered to an authorized user. 

24.  NOTIFICATION  OF  CHANGE  IN  LEGAL  STRUCTURE,  OFFICERS  OR  OWNERS.  If  you  are  an 
organization  you  agree  to  notify  us  within  10  days  of  any  change  in  your  legal  structure  or  any  change  in  your 
officers or owners.  

25.  SEVERABILITY  AND  FINAL  EXPRESSION.    This  Agreement  is  the  final  expression  of  the  terms  and 
conditions  of  your  account.  This  written  Agreement  may  not  be  contradicted  by  evidence  of  any  alleged  oral 
agreement.  Should  any  part  of  this  Agreement  be  found  to  be  invalid  or  unenforceable,  all  other  parts  of  this 
Agreement shall remain in effect and fully enforceable to the fullest extent possible under this Agreement.   

26.  GOVERNING LAW. This Agreement is governed by the laws of the state of Pennsylvania. 

27.  NOTIFICATION  INFORMATION  FOR  REPORTING  LOST,  STOLEN  AND  UNAUTHORIZED  USE  OF 
CARD. Notify us at once if your card has been lost or stolen or if you suspect that your card is being used without 
your permission at the following:  

(215) 969-0777  

24 Hours per Day/Seven (7) Days a Week 

Or write to: 

American Heritage Federal Credit Union 
2060 Red Lion Road 
Philadelphia, PA 19115 

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