CARDHOLDER AGREEMENT

Defined terms—The following terms have defined 
meanings  in  this  agreement:  “Account”  means 
the  credit  Account  regulated  by  this  agreement, 
“Card”  means  the  plastic  cards  issued  under  this  
agreement,  including  the  numbers  printed  on 
these plastic cards; “we,” “us” and “our” mean the  
financial  institution  appearing  on  the  face  of  a 
Card; “you” and “your” mean anyone who signs an  
application for this Account or is a guarantor of this 
Account;  and  “Approval  Letter”  means  our  letter 
to  you  approving  your  application  and  describing 
some  of  the  terms  of  the  Account  (the  “Approval 
Letter” which is part of the agreement).

By  signing,  using  or  activating  a  Card,  you  
accept the terms and conditions of this agreement 
and of the Approval Letter. If any provision of this  
agreement  is  determined  to  be  unlawful,  the  rest 
of  the  agreement  will  stand  and  the  unlawful  
provision  will  be  deemed  amended  to  conform  to 
applicable law. All Cards are our property and must 
be  returned  to  us  immediately  according  to  our  
instructions, and we may repossess a Card at any 
time in our sole discretion.

1.  Promise  to  pay—You  agree  to  pay  us  the  
total amount of purchases, cash advances, finance 
charges or other fees or charges which arise from 
use of a Card by you or any other person, unless 
the other person does not have actual, implied, or 
apparent  authority  for  such  use  and  you  receive 
no personal benefit from the use. You agree to be 
jointly  and  severally  liable  with  anyone  else  who 
has made the same promise.

2.  Credit  limit—Your  credit  limit  is  stated  on  the 
credit  card  carrier,  as  well  as  on  your  monthly  
statement.  You  promise 
to  make  purchases 
and  cash  advances  only  up  to  your  credit  limit. 
Your  promise  to  pay  continues  to  apply  even 
if  the  amount  due  exceeds  your  credit  limit.  
Obtaining credit in excess of your credit limit does not  
increase  your  credit  limit.  We  can  change  your 
credit  limit  at  any  time  to  any  amount  (including 
zero). We will state the new credit limit on your next 
monthly statement.

3.  Purchases  and  cash  advances—You  may 
use  your  Card,  up  to  your  credit  limit,  to  buy  or 
lease  goods,  services  or  insurance  wherever  the 
Card  is  honored.  You  may  also  use  your  Card  to 
get  a  cash  advance  from  participating  financial  
institutions.  However,  you  agree  not  to  use  your  
Card  for  any  transaction  that  is  illegal  under  
applicable  federal,  state  or  local  law,  and  you  
understand  that  any  such  use  will  constitute  an 
event  of  default  under  this  agreement.  We  are 
not responsible for the refusal of anyone to honor  
your Card.

4.  Monthly  statements—We  will  send  you  a  
statement at the end of each billing cycle in which 
the Account has a balance. The due date for your 
payment will be 25 days after the last day covered 
by the statement.

to  make 

5.  Payments—You  agree 
the  
minimum  monthly  payments  that  are  described  
in  the  Approval  Letter,  and  to  make  all  pay-
ments  on  this  Account  at  the  address  specified 
on  your  monthly  statement.  We  may  accept    late  
payments,  partial  payments,  post-dated  checks, 
or  any  form  of  payment  containing  a  restrictive  

endorsement,  without  losing  any  of  our  rights  
under this agreement. Our acceptance of checks or  
money  orders  labeled  “payment  in  full”  or  words 
to 
that  effect,  will  not  constitute  an  accord 
and  satisfaction  nor  a  waiver  of  any  rights  we 
have to receive full payment.

6.  Balance  Computation  Method—We  figure 
the  interest  charge  on  your  account  by  applying 
the  periodic rate, as stated in the enclosed disclo-
sure  table,  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/advances/fees,  and  
subtract  any  unpaid  interest  or  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.”  

7.  Cash  advance  fee—Cash  advances  are 
subject  to  the  cash  advance  fee  stated  in  the 
enclosed  disclosure  table.  The  cash  advance  fee 
is a finance charge and is imposed on the date of 
the cash advance. Interest does not  accumulate on 
this  fee. The  following  transactions  will  be  treated 
as cash advances:

•   Using your Card to obtain cash from a  
participating Automated Teller Machine 
(“ATM”);

•   Using your Card to obtain cash from a  

participating financial institution;

•   Using a convenience check drawn on the  

Account;

•   Obtaining money orders, travelers checks, 

foreign currency, lottery tickets, casino chips, 

vouchers redeemable for cash or similar items.

•  Balance Transfers, if identified as cash 

advances on your Approval Letter

8. Annual fee—The annual fee, if there is one, on 
the  Account  is  stated  in  the  enclosed  disclosure 
table. The annual fee is payable whether or not you 
use the Card.

9.  Liability  for  unauthorized  use—You  may  be  
liable  for  the  unauthorized  use  of  your  Card,  
whether  due  to  loss  or  theft  of  a  Card  or  
another  reason.  You  will  not  be 
for  
unauthorized  use  that  occurs  after  you  notify  us 
orally  by  calling  1-800-234-5354  or  you  notify  us 
in writing by mailing the notice to P.O. Box 10409, 
Des  Moines,  IA  50306-0409.  In  any  case,  your  
liability will not exceed $50.

liable 

10.  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 also will be 
in default if you violate any other provision of this 
agreement  and  such  violation  materially  impairs 
the prospect of you paying the amount due on the 
Account. Upon default, we may demand immediate 
payment of the entire amount due on the Account 
and  we  may  enforce  our  right  to  this  payment  as 
permitted by law.

11.  International  transactions—When  you  use 
your  Card  for  a  transaction  denominated  in  a  
currency  other  than  U.S.  dollars,  the  transaction  
amount  will  be  converted  into  U.S.  dollars  by  
applying  an  exchange  rate  selected  by  the  Card  
Association 
the  range  of  rates  
available  in  wholesale  currency  markets  or  the 
the  
government-mandated 

from  among 

the  date 

rate  on 

transaction  is  processed.  The  rate  chosen  may 
vary  from  the  rate  the  Card  Association  itself  
receives.  When  you  use  your  Card  in  a  trans-
action  outside  of  the  United  States  to  make  a  
purchase,  obtain  a  cash  advance,  obtain  a  credit 
voucher,  or  reverse  any  of  these  transactions,  a  
finance  charge  equal  to  one  percent  of  the 
amount of the transaction (expressed as a positive  
number)  will  be  assessed  against  your  Account. 
The  foreign  transaction  Fee  is  imposed  on  the  
date of the transaction. Interest does not accrue on  
the  foreign  transaction  fee.  “Card  Association” 
means  either  VISA  International  or  MasterCard  
International.

12.  Credit  information—You  authorize  us  to  
investigate  your  credit  standing  when  opening, 
renewing  or  reviewing  your  Account,  and  you  
authorize us to disclose information regarding your 
Account to credit bureaus and other creditors who 
may inquire of us about your credit standing.

13.  Other  fees—The  following  charges  will  be 
charged to your Account as appropriate:

A.  Late and returned payment fees.
  The  following  charges  may  be  imposed,  if  

applicable: 
•	 Late Payment Fee: A late payment fee, in the  
amount  indicated  in  the  enclosed  disclosure 
table, may be imposed if the required minimum 
payment  due  is  not  received  by  the  due  date 
listed on the monthly periodic statement.
•	 Returned Payment Fee: A returned payment 
fee,  in  the  amount  indicated  in  the  enclosed  
disclosure  table,  may  be  imposed  if  your  pay-
ment is returned for any reason.

 
 
these accounts to any amounts due. Shares and deposits
in an Individual Retirement Account, and any other account
that would lose special tax treatment under state or federal
law if given as security are not subject to the security
interest you have given in your shares and deposits.

B.  Replacement  Cards,  copies,  and  special  
services.  We  may  charge  you  a  reasonable 
fee  for  issuing  replacement  cards,  expediting  
delivery  of  your  card,  an  expedited  payment 
method using a service representative, provid-
ing  photocopies  and  reprints  that  you  request, 
15.   Effect of Agreement.  This Agreement is the contract
and other special services as allowed by law.
which applies to all transactions on your account even
though the sales, cash advance, credit or other slips you
sign or receive may contain different terms.  We may
amend this Agreement from time to time by sending you
the advance written notice required by law.  Your use of the
card thereafter will indicate your agreement to the
amendments. To the extent the law permits, and we
indicate in our notice, amendments will apply to your
existing account balance as well as to future transactions.
YOUR BILLING RIGHTS: 
The Credit Union can delay enforcing any of its rights any
KEEP THIS DOCUMENT FOR FUTURE USE
number of times without losing them.

14. Amendments—We may amend or cancel this 
agreement at any time by getting your consent as 
provided  by  law  or  by  giving  you  a  notice  of  the 
amendments.  Cards  are  property  of  the  Financial 
Institution and must be returned at our request.

This notice tells you about your rights and our 
responsibilities under the Fair Credit Billing Act.

16.   Terminate This Agreement.  Either the Credit Union
or 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
What To Do If You Find A Mistake 
CHARGES and other charges you owe under this
On Your Statement
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.  Failure to surrender your cards will result in a card
recovery fee of $75 each, should you attempt to use the
cards.

If  you  think  there  is  an  error  on  your  statement, 
write to us at:

Member Services
P.O. Box 10409
Des Moines, IA 50306-0409

number.

In your letter, give us the following information:
•	 Account  information:  Your  name  and  account 

17.   Statements and Notices.  You will receive a
statement each month showing transactions on your
account.  You are responsible for your minimum monthly
payment even in the event your statement is late or
returned to the Credit Union.  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
suspected error.
be considered notice to all.

•	 Dollar  amount:  The  dollar  amount  of  the  

•	 Description of problem: If you think there is an 
error on your bill, describe what you believe is 
18.   Cross Collateral.  If cardholder has other loans from
issuer, or takes out other loans with issuer in the future,
wrong and why you believe it is a mistake.
collateral securing these loans, excluding any dwellings,
will also secure the Cardholder’s obligations under this
agreement. Cardholder agrees to pay all costs incurred by
issuer in collecting Cardholder’s indebtedness or in
enforcing this agreement, including attorney’s fees as may

You must contact us:
•	 Within  60  days  after  the  error  appeared  on 

be reasonable and just and also those costs, expenses
and attorney’s fees incurred in appellate, bankruptcy, and
post-judgment  proceedings.

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.

19.  Convenience Checks.  Credit Card account
Cardholders may sometimes be issued personalized
checks that can be used to access your credit account
without additional service charges other than the accrual
of FINANCE CHARGES.  You can use your convenience
checks to purchase goods and services or to obtain cash
up to the amount of your credit line.  Use of your checks
will be a cash advance on your VISA account.  We are not
required to honor a convenience check that will cause you
to exceed your Credit Line.

You must notify us of any potential errors in writing. 
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.

We will not pay a check if at the time the check is
presented, you are in default or we have suspended,
terminated, or canceled your Account.  Checks may be
used only by the person(s) whose name(s) is on the VISA
account.  You are responsible for all authorized use of your
convenience checks.  You may not   use your convenience
checks to pay any amount which you owe us under your
account.  Provided such request is timely, so that we shall
have a reasonable opportunity to act upon it under our
rules, you may order a stop payment on a convenience
2. Within  90  days  of  receiving  your  letter,  we 
check drawn on your account.  We may, but shall not be
obligated to receive such order orally.  In such event, the
must either correct the error or explain to you 
order shall be valid for only fourteen (14) days thereafter
why we believe the bill is correct.
unless confirmed in writing.  Written stop payment orders
will remain in effect only six (6) months unless renewed in
writing.  You have the burden of establishing the fact and
amount of loss resulting from payment contrary to a
binding stop payment.  Convenience checks are the
property of the Credit Union.  We reserve the right to
revoke them at anytime. You agree to return them at our
request.

•	 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 we investigate whether or not there has 
been an error:

•	 While  you  do  not  have  to  pay  the  amount  in 
question, you are responsible for the remain-
der of your balance.

20.  Honest Dealing.  You will promptly notify the Credit
Union of any information that affects your credit worthiness
or ability to pay off the balance including but not limited to
a change in address or employment.  You will not apply to
increase the Credit Line if you have reason to believe that
you will be unable to make the scheduled payments.

•	 We can apply any unpaid amount against your 

credit limit.

To find out about changes in the information in this
application, write us at IH Mississippi Valley Credit Union,
2121 47th Street, Moline, IL 61265. Residents of Illinois

After  we  finish  our  investigation,  one  of  two 
things will happen:

may contact the Illinois Commissioner of Banks and Trust
Companies for comparative information on interest rates,
charges, fees and grace periods.  State of Illinois-CIP,P.O.
Box 10181, Springfield, IL  62791:  800-634-5452.

•	 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.

YOUR BILLING RIGHTS

•	 If we do not believe there was a mistake: You 
will have to pay the amount in question, along 
- Please Read Carefully -
with applicable interest and fees. We will send 
This notice contains important information about your
you  a  statement  of  the  amount  you  owe  and 
rights and our responsibilities under the
the date payment is due. We may then report 
Fair Credit Billing Act.
you as delinquent if you do not pay the amount 
we think you owe.

Notify Us In Case of Errors or Questions 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 a soon as possible.  We must hear from you no later
than 60 days after we have sent you the first bill on which
the error or problem appeared.  You can telephone us, but
doing so will not preserve your rights.

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.
Your name and account number.

In your letter, give us the following information:

    The dollar amount of the suspected error and the date.
    Describe the error and explain, if you can, why you
believe there is an error.
    If you need more information, describe the item you

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.
are not sure about.
Describe attempts to resolve error with the merchant.
Your  Rights  If  You  Are  Dissatisfied  With  Your 
Credit Card Purchases

Your Rights and Our Responsibilities
After We Receive Your Written Notice

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.

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:
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.

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 
If we find that we made a mistake on your bill, you will not
have been more than $50. 
have to pay any FINANCE CHARGES related to any
(Note:  Neither  of  these  are  necessary  if  your 
questioned amount.  If we didn’t make a mistake, you may
purchase was based on an advertisement we 
have to pay FINANCE CHARGES, and you will have to
make up any missed payments on the questioned
mailed to you, or if we own the company that 
amount.  In either case, we will send you a statement of
sold you the goods or services.)
the amount you owe and the date that it is due.

3. You  must  not  yet  have  fully  paid  for  the  

2. You  must  have  used  your  credit  card  for  the 
purchase. Purchases made with cash advanc-
If you fail to pay the amount that we think you owe, we
es from an ATM or with a check that accesses 
may report you as delinquent.  However, if our explanation
your credit card account do not qualify.
does not satisfy you and you write to us within ten 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  all  of  the  criteria  above  are  met  and  you  are  
still  dissatisfied  with  the  purchase,  contact  us  
in writing at:

If we don’t follow these rules, we can’t collect the first $50
of the questioned amount, even if your bill was correct.

purchase.

Member Services
Special Rules for Credit Card Purchases
P.O. Box 10409
Des Moines, IA 50306-0409

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:

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.

(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.

READ AND RETAIN

Revised May 2007

LS 5146
08/11

G10107
C9622