PLATINUM SECURED CREDIT CARD AGREEMENT

NOTICE: See reverse side for important information regarding your rights to dispute billing errors.

OE FCU
P.O. Box 5073, Livermore CA,  94551 

a corresponding Monthly Periodic Rate which will be a standard variable (floating) rate 
based upon an index plus a margin. 

Limitations on Changes
There is no limit on the amount by which the rate may change in any one-year period. 
The maximum ANNUAL PERCENTAGE RATE that can apply is 18.00%. 

Index
The Index is Prime Rate (“Index”). Information about this Index is published in the Money 
Rates Table of the Wall Street Journal.  If the Index ceases to be published, the Credit 
Union will choose a new Index and give you notice of its choice.

Rate Changes
The ANNUAL PERCENTAGE RATE may change on the billing cycle date of each calendar 
month. These are known as Rate Change Dates. The Index value used for a given billing 
cycle will be the value published thirty (30) days before the Rate Change Date or the 
most recently published value published before the Rate Change Date. If more than one 
rate is published, the Index will be the highest of the rates published.

Determination of Annual Percentage Rate
The Credit Union will add a margin depending on your credit score to the Index to get the 
ANNUAL PERCENTAGE RATE applicable to your Account for the billing cycle.  
Notification of the margin for which you have been approved on purchases, 
balance transfers and cash advances will be provided on the Approval Letter 
and Account Opening Disclosure sent to you upon completion of the credit 
review and approval.  
ANNUAL PERCENTAGE RATE for the billing cycle will be divided by twelve (12) to get 
the corresponding Monthly Periodic Rate for the billing cycle. An increase or decrease 
in the Index value will lead to an increase or decrease in your ANNUAL PERCENTAGE 
RATE and the corresponding Monthly Periodic Rate applicable to your Account.  

In this Agreement, the words (“you”) and (“your”) mean: (a) the person or persons who use or authorize the use of, or (b) who sign an application for an Operating Engineers No. 3 
Federal Credit Union Visa Platinum Secured Credit Card. (“Card”) means the Operating Engineers No. 3 Federal Credit Union Visa Platinum Secured Credit Card and any duplicates 
and renewals the Credit Union issues to you. (“Account”) means your Visa Platinum Secured Credit Card line of credit account with the Credit Union. (“Credit Union”) means Operating 
Engineers No. 3 Federal Credit Union.
1.  Using the Account. If your application for a Credit Card account is approved, the 
Credit Union will establish a line of credit for you and notify you of its amount when the 
card is sent to you. You agree not to let your account balance exceed your approved 
credit limit. Each payment you make on the account will restore your credit limit by the 
amount of the payment which is applied to the principal amount of purchases and cash 
advances. You may request an increase in your credit limit only by written application 
submitted to the Credit Union. The Credit Union has the right to reduce or terminate your 
credit limit at any time.
2.  Using the Card. You may use your card to purchase goods and services in person, 
online, and by mail or telephone from merchants and others who accept Credit Cards. 
In addition, you may obtain cash advances from the Credit Union, from other financial 
institutions or select merchants participating in the Visa program and from automated teller 
machines (ATMs), such as Visa ATM Network, that provide access to the Visa system. 
(Not all merchants or ATMs provide such access.) The minimum amount you make in a 
Cash Advance is $50.00.
3.  Personal Identification Number. You will need to use your Personal Identification 
Number (“PIN”) to obtain a cash advance from an ATM. This number should be memorized-
DO NOT write it on your Credit Card.  After memorizing your PIN, you should destroy the 
notice disclosing your PIN.  If you forget your PIN, contact the Credit Union and we will 
issue you a new one.
Illegal Use of Visa Credit Card. You agree that your Visa Credit Card Account will 
4. 
not be used to make or facilitate any transaction(s) that are or might be construed to be 
illegal pursuant to applicable law, rule or ordinance, including but not limited to gambling. 
Said use, including any such authorized use, will constitute an event of default under this 
Agreement. You agree that the Credit Union has no liability, responsibility or culpability 
whatsoever for any such use by you or any authorized user(s). You agree that you are 
responsible for repayment of any and all debts incurred for these transactions. You further 
agree to indemnify and hold the Credit Union harmless from any suits, liability, damages 
or adverse action of any kind that results directly or indirectly from such illegal use.
5.  Responsibility. You agree to pay all charges (purchases and cash advances) to 
your account made by you or anyone who you authorize to use your account. You also 
agree to pay all other charges added to your account, pursuant to Paragraph 7. Your 
obligation to pay the amount owed on your account continues until paid in full even though 
an agreement, divorce decree or other court judgment to which the Credit Union is not a 
party may direct someone else to pay the account balance. Each of you who signs the 
application for a card, or who use the account is individually and jointly responsible for all 
amounts owed on the account. This means the Credit Union can enforce this Agreement 
against any of you individually or all of you collectively.
6.  Finance Charges. For Credit Purchases - A FINANCE CHARGE will be imposed 
on Credit Purchases only if you elect not to pay the entire New Balance shown on your 
monthly statement for the previous billing cycle by the Payment Due Date shown from the 
closing date of that statement. If you elect not to pay the entire New Balance shown on 
your previous monthly statement by the Payment Due Date shown, a FINANCE CHARGE 
will  be  imposed  on  the  unpaid  average  daily  balance  of  such  Credit  Purchases  from 
the previous statement closing date and on the new Credit Purchases from the date of 
posting to your account during the current billing cycle, and will continue to accrue until 
the closing date of the billing cycle preceding the date on which the entire New Balance 
is paid in full or until the date of payment if more than the Payment Due Date shown from 
the closing date.
For Cash Advances- A FINANCE CHARGE will be imposed on Cash Advances from 
the date the Cash Advance is posted to your account and will continue to accrue 
until the date of payment. There is no grace period for cash advances. 
We figure the FINANCE CHARGE on your account by applying the periodic rate to the 
‘‘average daily balance’’ of your account. To get the ‘‘average daily balance’’ we take the 
beginning balance of your account each day, add any new purchases, and cash advances, 
and subtract any unpaid other finance charges and any payments or credits. This gives us 
the daily balance. Then, we add up all the daily balances for the billing cycle and divide the 
total by the number of days in the billing cycle. This gives us the ‘‘average daily balance.”
Payments made to your account will be applied in the following order: Amounts in 
excess of the minimum payment amount first to the card balance bearing the highest 
rate of interest, and then to each successive balance bearing the next highest rate of 
interest, until the payment is exhausted.

Annual Percentage Rate Example
Based upon a margin of 5.73% (your margin may be different depending on your credit 
score), plus an Index value of 3.25% (which was the value of the Index on February 1, 
2012), your Account would be subject to a FINANCE CHARGE (interest) at an ANNUAL 
PERCENTAGE RATE of 8.98%, with a corresponding Monthly Periodic Rate of 0.7483%. 
On the billing cycle date of each calendar month and on each subsequent Rate Change 
Date, the ANNUAL PERCENTAGE RATE and the corresponding Monthly Periodic Rate 
will be calculated according to the formula described above.

Penalty rate
Whenever the minimum monthly payment shown on your statement is sixty (60) days past 
due, the entire balance on your account will be subject to a FINANCE CHARGE (interest) 
at the PENALTY ANNUAL PERCENTAGE RATE of 17.99% and a corresponding Monthly 
Periodic Rate of 1.4991%. The interest rate adjustment will take effect on the effective 
date shown in the notice sent to you informing you of the rate increase. The PENALTY 
ANNUAL PERCENTAGE RATE will apply until you make six (6) consecutive minimum 
payments on or before the payment due date. If you do not make six (6) consecutive 
minimum payments on or before the payment due date, we may keep the PENALTY 
ANNUAL PERCENTAGE RATE on your account indefinitely. 
7.  Change in Terms; Changing or Terminating Your Account. The Credit Union may 
change the terms of this Agreement, including your ANNUAL PERCENTAGE RATE, 
from time to time for any reason not inconsistent with applicable law after giving you any 
advance notice required by law. Your failure to exercise any right you may have to reject 
the change in terms in a timely manner will indicate your agreement to the change. Except 
as restricted or prohibited by law, any change in terms will apply to your existing account 
balance as well as to future transactions. Either the Credit Union or any one of you may 
terminate this Agreement at any time, but termination by you or the Credit Union will not 
affect your obligation to pay the account balance plus any finance and other charges 
you owe under this Agreement. The cards you receive remain the property of the Credit 
Union and you must recover and surrender to the Credit Union all cards upon request 
or upon termination of this Agreement whether by you or the Credit Union.
8.  Other Charges. The following Other Charges will be added to your account, as 
applicable:
COPIES:  If you request a copy of any document, we may charge your account $5.00 
per copy requested.  If your request is related to a billing error and an error is found, we 
will credit any copying charges back to your account.
LATE PAYMENT FEE:  We reserve the right to charge a late payment fee of $20.00 to 
your account each billing period that the minimum monthly payment is not received by  
ten (10) days after due date.
NSF CHECKS:  A fee of $25.00 will be assessed for each payment check that is returned 
to the Credit Union for non sufficient funds.
RESEARCH FEE:  If you request research on your account or authorize others to request 
it, we will charge you a $25.00 per hour research fee. We will not charge this fee if you 
are making an inquiry about an error on your bill.
9.  Monthly Payment. Each month you must pay at least the minimum payment shown on 
your statement by the Payment Due Date shown. You may, of course, pay more frequently, 
pay more than the minimum payment, or pay the Total New Balance in full. If you make 
extra payments or larger payments, you are still required to make at least the minimum 
payment each month your account has a balance. The minimum payment is 2.00% of 

Visa Platinum secured account
Purchases and Balance Transfers; Introductory Period.  Your Visa Platinum Secured 
Account will be subject to a FINANCE CHARGE (interest) at an ANNUAL PERCENTAGE 
RATE  and  a  corresponding  Monthly  Periodic  Rate  stated  on  the  Account  Opening 
Disclosure and Acceptance Letter for the first six (6) months after account opening on 
purchases and balance transfers. The balance remaining after the initial six (6) month 
period will be subject to an ANNUAL PERCENTAGE RATE and a corresponding Monthly 
Periodic Rate which will be a standard variable (floating) rate based upon an index plus a 
margin as determined by your credit score and this rate is stated on the Account Opening 
Disclosure and Acceptance Letter. This rate becomes effective on the first business day 
of the billing cycle following the initial six (6) month period. 
Purchases and Balance Transfers; After Introductory Period.  Purchases and balance 
transfers made after the Introductory Period will be subject to a FINANCE CHARGE 
(interest) at an ANNUAL PERCENTAGE RATE and a corresponding Monthly Periodic 
Rate which will be a standard variable (floating) rate based upon an index plus a margin. 
Cash  Advances.    For  cash  advances,  your  Visa  Platinum  Secured  Account  will  be 
subject to a FINANCE CHARGE (interest) at an ANNUAL PERCENTAGE RATE and 

©2012 California Credit Union League, Law Offices of Thomas H. Wolfe, PC - All Rights Reserved    CU STORE  # 7018e    (CUSTOM) 

ORIG. 2/23/12   PTD 3/12

 
your Total New Balance but not less than $10.00, plus the amount of any prior minimum 
payments that you have not paid. 
In  addition,  if  at  any  time  your Total  New  Balance  exceeds  your  credit  limit,  you  must 
immediately pay the excess upon demand. Subject to applicable law, your payments will 
be applied to what you owe the Credit Union in any manner the Credit Union chooses.
10.  Security Interest. If you give the Credit Union a specific pledge of shares by signing 
a separate pledge of shares for this account, your account will be secured by your pledged 
shares.
11.  Default. You will be in default if you fail to make any minimum payment or other 
required payment by the date that it is due. You will be in default if you break any promise 
you make under this Agreement. You will be in default if you die, file for bankruptcy or 
become insolvent, that is, unable to pay your obligations when they become due. You 
will be in default if you make any false or misleading statements in any credit application 
or credit update. You will also be in default 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 immediately terminate this Agreement and require 
repayment of your outstanding account balance plus any finance and other charges you 
owe under this Agreement. At the Credit Union’s discretion, any shares that were given 
as security may be applied towards what you owe. To the extent permitted by law, you 
will also be required to pay the Credit Union’s collection expenses, including court costs 
and attorneys’ fees.

12.  Liability for Unauthorized Use. If you notice the loss or theft of your credit card or a 
possible unauthorized use of your card, you should call us immediately at (800) 877-4444 
or (925) 454-4000 or write to us at P.O. Box 5073, Livermore CA 9455.

You will not be liable for any unauthorized use that occurs after you notify us. You agree 
to cooperate fully in any investigation the Credit Union may conduct in connection with 
the loss, theft, or possible unauthorized use of your card.
13.  Limitations to Liability for VISA Transactions. If there is unauthorized use on your 
consumer VISA Credit Card your liability will be zero ($0.00). This provision limiting your 
liability does not apply to either VISA commercial cards, ATM cash disbursements or non-
VISA PIN-less debit transactions. Additionally, your liability with respect to unauthorized 
transactions may be greater than the above limit, to the extent allowed under applicable 
law, if the Credit Union reasonably determines, based on substantial evidence, that you 
were grossly negligent or fraudulent in the handling of your account or card.
14.  Credit 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. Pursuant to state law, you are hereby notified that a negative credit 
report reflecting on your credit record may be submitted to a credit reporting agency if 
you fail to fulfill the terms of your credit obligations.

15.  Returns and Adjustments. Merchants and others who honor the 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 amount is $1 or more, it will be refunded upon your written request or 
automatically after six (6) months.

16.  Foreign Transactions. Purchases and cash advances made in foreign currencies will 
be billed to you in U.S. dollars. Transactions processed outside of the United States or in a 
foreign currency may be charged a foreign transaction fee, regardless of whether there is 
a currency conversion associated with the transaction. The conversion rate in dollars will 
be a rate selected by VISA from a range of rates available in wholesale currency markets 
for the applicable Central Processing Date, which rate may vary from the rate VISA itself 
receives, or the government-mandated rate in effect for the applicable Central Processing 
Date in each instance, plus a one percentage point (1.0%) fee charged by the Issuer.

17.  Merchant  Disputes.  The  Credit  Union  is  not  responsible  for  the  refusal  of  any 
merchant or financial institution to honor the card. The Credit Union is subject to claims 

and defenses (other than tort claims) arising out of goods or services you purchase with 
the card if you have made a good faith attempt but have been unable to obtain satisfaction 
from the merchant or service provider, and: (a) your purchase was made in response to an 
advertisement the Credit Union sent or participated in sending to you; or (b) your purchase 
cost more than $50 and was made in your state or within 100 miles of your home.

18.  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.

19.  No Waiver. The Credit Union can delay enforcing any of its rights any number of 
times without losing them.

20.  Statements  and  Notices.  You  will  receive  a  statement  each  month  showing 
transactions on your account. Statements and notices will be mailed to you at the most 
recent address you have given the Credit Union. Notice sent to any one of you will be 
considered notice to all. You agree to promptly notify the Credit Union if you change your 
mailing address.

21.  Transfer of Account. You cannot transfer or assign your account to any other person.

22.  Governing Law. This Agreement and your account shall be governed by California 
law without regard to any conflict of law rules.

23.   Overdraft Privilege. You agree that if, pursuant to any overdraft privilege on a Credit 
Union Checking Account, there is an overdraft of your Checking Account, the amount of 
overdraft will be added to the outstanding balance of your VISA Credit Account subject 
to the FINANCE CHARGE set forth in paragraph 5 and will be subject to all terms and 
conditions of this Agreement. The VISA Account must be current and not over the credit 
limit  for  funds  to  transfer  to  the  Checking  Account. Overdrafts  are  not  allowed  for  the 
purpose of making loan payments, including VISA payments, at the Credit Union, ATM or 
in-branch teller cash withdrawals. Overdraft Advances will be transferred to your Checking 
Account in increments of at least $50.00 and each Overdraft Advance is considered to be 
a cash advance. The Checking Account referred to herein is also subject to a separate 
agreement between you and the Credit Union. Where the terms of any other agreement 
between you and the Credit Union conflict with the terms of this agreement, the terms of 
this agreement will control.

additional disclosures aPPlicable to conVenience 
checks
Convenience Checks. We may send you Convenience Checks which can be used 
to obtain cash or pay for goods or services up to the amount of your available credit 
limit  unless  the  amount  will  cause  you  to  exceed  your  credit  limit.  In  such  cases 
these Convenience Checks will be charged against your credit limit, processed as 
cash advances and accumulate FINANCE CHARGES from the date the check posts 
to your Account, pursuant to paragraph 7 above. Convenience Checks may only be 
used by the person whose name is printed on them. You may not use Convenience 
Checks  to  pay  any  amount  which  you  owe  us  under  this  Agreement. We  will  not 
return any paid convenience checks to you.
Using the Convenience Check. To make a purchase, present your Convenience 
Check  to  any  participating  merchant.  To  request  a  Cash  advance,  present  your 
Convenience Check to us or any participating financial institution.
Reasons  Not  to  Honor  a  Convenience  Check.   We  may  decline  to  honor  your 
Convenience Check if you are over your credit limit, you are in default, your Account 
privileges have been canceled, or your card has expired. A fee stated in the Fee 
Schedule will be assessed for each convenience check that is returned to the Credit 
Union for non-sufficient funds.
Stop Payment of Convenience Checks. You may stop payment on a Convenience 
Check by notifying us in writing at the address shown on your monthly statement or by 
calling us at 925.454.4000. If you call, you must confirm the request in writing within 
fourteen (14) days. A written stop payment order will remain in effect for six (6) months 
and then it will lapse unless renewed in writing.

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.

What To Do If You Find A Mistake On Your Statement
If you think there is an error on your statement, write to us at: Operating Engineers 
No. 3 Federal Credit Union, P.O. Box 5073, Livermore, CA 94551. In your letter, give 
us the following information:
•	 Account	information:	Your	name	and	account	number.
•	 Dollar	amount:	The	dollar	amount	of	the	suspected	error.
•	 Description	of	problem:	If	you	think	there	is	an	error	on	your	bill,	describe	what	you	

believe is wrong and why you believe it is a mistake.

You must contact us:
•		 Within	60	days	after	the	error	appeared	on	your	statement.
•		 At	least	3	business	days	before	an	automated	payment	is	scheduled,	if	you	want	

to stop payment on the amount you think is wrong.

You must notify us of any potential error in writing [or electronically]. You may call us, 
but if you do we are not required to investigate any potential errors and you may have 
to pay the amount in question.
What Will Happen After We Receive Your Letter
When we receive your letter, we must do two things:
1.  Within 30 days of receiving your letter, we must tell you that we received your letter.
We will also tell you if we have already corrected the error.
2.  Within 90 days of receiving your letter, we must either correct the error or explain 

to you why we believe the bill is correct.

While we investigate whether or not there has been an error:
•		 We	cannot	try	to	collect	the	amount	in	question,	or	report	you	as	delinquent	on	

that amount.

•		 The	charge	in	question	may	remain	on	your	statement,	and	we	may	continue	to	

•	

charge you interest on that amount.
	While	you	do	not	have	to	pay	the	amount	in	question,	you	are	responsible	for	the	
remainder of your balance.

•		 We	can	apply	any	unpaid	amount	against	your	credit	limit.

After we finish our investigation, one of two things will happen:
•		 If we made a mistake: You will not have to pay the amount in question or any 

•	

interest or other fees related to that amount.
If we do not believe there was a mistake: You will have to pay the amount in 
question, along with applicable interest and fees. We will send you a statement of 
the amount you owe and the date payment is due. We may then report you as delin-
quent if you do not pay the amount we think you owe. If you receive our explanation 
but still believe your bill is wrong, you must write to us within 10 days telling us that 
you still refuse to pay. If you do so, we cannot report you as delinquent without also 
reporting that you are questioning your bill. We must tell you the name of anyone to 
whom we reported you as delinquent, and we must let those organizations know 
when the matter has been settled between us.

If we do not follow all of the rules above, you do not have to pay the first $50 of the 
amount you question even if your bill is correct.
Your Rights if You Are Dissatisfied With Your Credit Card Purchases
If you are dissatisfied with the goods or services that you have purchased with your 
credit card, and you have tried in good faith to correct the problem with the merchant, 
you may have the right not to pay the remaining amount due on the purchase.
To use this right, all of the following must be true:
1.  The purchase must have been made in your home State or within 100 miles of your 
current mailing address, and the purchase price must have been more than $50. (Note: 
Neither of these are necessary if your purchase was based on an advertisement we 
mailed to you, or if we own the company that sold you the goods or services.)

2.  You must have used your credit card for the purchase. Purchases made with cash 
advances from an ATM or with a check that accesses your credit card account do 
not qualify.

3.  You must not yet have fully paid for the purchase.
If all of the criteria above are met and you are still dissatisfied with the purchase, 
contact us in writing Operating Engineers No. 3 Federal Credit Union, P.O. Box 5073, 
Livermore,  CA  94551. While  we  investigate,  the  same  rules  apply  to  the  disputed 
amount as discussed above.
After we finish our investigation, we will tell you our decision. At that point, if we think 
you owe an amount and you do not pay, we may report you as delinquent.