RED CANOE CREDIT UNION 
BUSINESS VISA PLATINUM CREDIT CARD ACCOUNT AGREEMENT 

This  Business  VISA  Platinum  Credit  Card  Account  Agreement  (“Agreement”)  and  the  Account  Disclosures  accompanying  this 
Agreement will govern your VISA Platinum Credit Card and account (“Account”) issued by Red Canoe Credit Union (“Credit Union”).  In 
this  Agreement,  the  words  "you,"  "your,"  "yours,"  "applicant,"  and  "Borrower"  mean  any  person  who  signs  the  application  for  this 
Account,  any  joint  obligor,  guarantor,  authorized  user, or the person whose name is embossed on the Card.  The words "we," "us," 
"our,"  and  "Credit  Union"  mean  Red  Canoe  Credit  Union.    The  word  "Card"  means  any  one  or  more  credit  cards  issued  under  this 
Account.  If you sign an application for this Account or sign or use any Card or PIN, or allow others to use the Card or PIN, you 
and they will have accepted this Agreement just as if you and they signed it, and you and they, jointly and severally, will be 
bound by the following terms and conditions which will govern this Account. 
1.  YOU  PROMISE  TO  PAY.    You  promise  to  pay  us  all  amounts,  plus  any  Interest  Charges,  which  arise  from  use  of  the  Card or 
Account by you or any other person, and to be jointly and severally liable with such a person, unless such other person does not have 
actual, implied, or apparent authority for such use, and you received no benefit from the use.  You promise to pay us either by direct 
payment or by automatic transfers from shares or by payroll deduction. 
2.  ACCOUNT ACCESS. You must sign the Card to use it.  Once you have signed the Card, you can use it to buy or lease goods, 
services, or insurance wherever the Card is honored, up to the full amount of your Credit Line.  You may use your Account to get cash 
advances from us.  You may also use your Card to get a cash advance from participating financial institutions and to access your line 
of  credit  at  automatic  teller  machines  (“ATMs”)  within  the  VISA  network  or  any  other  ATMs.    Balance  transfers  are  treated  as 
purchases.  The maximum cash advance limit is 100% of your credit limit. 
3.  CREDIT LINE.  If we approve your application, this Agreement will constitute a revolving line of credit for an amount which will be 
the Credit Line under your Account.  We will advise you of the amount of your Credit Line.  That amount will be the maximum amount 
you  may  have  outstanding  at  any  one  time.    You  agree  not  to  attempt  to  obtain  more  credit  than  the  amount  of  your  Credit  Line.  
However, if you temporarily exceed your Credit Line, you agree to repay the excess immediately, even if we have not yet billed you.  
Obtaining such credit does not increase your Credit Line.  We retain the right to increase or decrease your Credit Line at any time.  
Any increase or reduction in the amount of your Credit Line will be shown on your monthly statement or by separate notice together 
with any changes in the applicable Minimum Monthly Payments.  Your eligibility for this Credit Line is determined by our loan policy 
and may be terminated at our sole discretion, without demand or notice.  You may close your Credit Line at any time by notifying us in 
writing  and  returning  all  Cards  cut  in  half.    If  you  terminate  this  Agreement  or  if  we  terminate  or  suspend  your  credit  privileges,  the 
provisions of this Agreement and your liability hereunder shall otherwise remain in full force and effect until you have paid us all sums 
due us under this Agreement and returned all Cards. 
4.  MINIMUM MONTHLY PAYMENT.  We will mail you a statement every month if your Account has a balance. You agree that you will 
pay each month not less than the minimum monthly payment on or before the closing date. The minimum monthly payment will be 3.0% of 
your outstanding balance (“New Balance”) or $25, whichever is greater. If your outstanding balance is $25 or less, you agree to pay the 
balance in full. You may pay in full for all your purchases and cash advances each month, or you may repay in monthly installments. We 
can accept late payments or partial payments, or checks, drafts, or money orders marked “payment in full” without prejudice to our rights 
under  this  Agreement,  which  are  hereby  explicitly  reserved.  A  credit  posting  from  a  merchant  or  reversal  of  fees  does  not  constitute  a 
minimum payment. The minimum monthly payment may be allocated at the Credit Union’s discretion to pay off lower rate balances, such 
as promotional offers, before higher rate balances, such as cash advances or purchases.  Payments in excess of the minimum monthly 
payment will be allocated first to higher rate balances, as applicable. From time to time, we may allow you to skip your minimum monthly 
payment due. If you choose to skip that payment, Interest Charges will continue to accrue in accordance with this Agreement.  Payments 
received at:  Red Canoe Credit Union Payment Center, PO Box 3020, Longview, WA 98632, on or before 5:00 PM Pacific Time on any 
business day will be credited to your Account as of that date; payments received by mail at that address after 5:00 PM Pacific Time or on a 
weekend will be posted to your Account as of the next business day. 
5.  SECURITY INTEREST.  By signing your application, to secure your Account, you granted us a purchase money security interest 
under the Washington Uniform Commercial Code in any goods you purchase through your Account.  If you default, we will have the 
right  to  recover  any  of  these  goods  that  have  not  been  paid  for  through  application  of  your  payments  in  the  manner  described  in 
Section 4.  In addition, you granted us a security interest in all your shares and deposits, present and future, and all accounts (except 
Individual Retirement Accounts and Keogh Accounts) with the Credit Union to secure your Account and agree, upon default, the Credit 
Union may apply all that is secured to pay any amounts due under this Agreement, without further notice to you.  You further agree 
that collateral securing other loans with the Credit Union (except loans secured by real property) also secures this Account. 
6.  PERIODIC  STATEMENTS.    Each  month,  if  your  outstanding  balance  exceeds  $1,  we  will  send  you  a  statement  showing  new 
purchases, cash advances, payments, and credits made to your Account during the billing period, your Previous Balance, your "Total New 
Balance,"  any  Interest  Charge,  and  any  other  charges.    Your  statement  also  will  identify  the  remaining  Credit  Line  available  and  the 
Minimum Monthly Payment you must make for that billing period and the date it is due.  For statement verification purposes, you agree to 
retain copies of transaction slips resulting from each purchase, each advance, and other transaction on your Account.  Unless you notify 
us of a billing error as described below, you accept your monthly statement as an accurate statement of your Account with us. 
7.  CIRCUMSTANCES UNDER WHICH AN INTEREST CHARGE WILL BE IMPOSED.  The total outstanding balance of purchases 
and cash advances in the Account on the closing date of a billing period, including any Interest Charge will be shown on the Periodic 
Statement for that billing period as the "New Balance." 

a.  Cash Advances.  An Interest Charge will be imposed on cash advances from the date each cash advance is made.  There is 

no time period within which to pay to avoid a periodic Interest Charge on cash advances. 

b.  Purchases.  Your due date is approximately 25 days after the close of each billing period.  An Interest Charge will be imposed on 
the portion of purchases included in the New Balance that is not paid by the due date.  This “grace period” allows you to avoid an Interest 

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©2018 Farleigh Wada Witt 

 
 
Charge on purchases for a billing period.  However, if you do not pay the New Balance for purchases within the grace period, your Interest 
Charge will accrue on any unpaid purchase transactions from the first day of the billing period in which the payment is due. 

8.  METHOD USED TO DETERMINE THE BALANCE ON WHICH THE INTEREST CHARGE MAY BE COMPUTED AND AMOUNT 
OF INTEREST CHARGE.  The Credit Union figures the Interest Charge on your Account by multiplying the "Average Daily Balance" of 
purchases and cash advances for your Account (including current transactions) by the Daily Periodic Rate, and then we multiply the 
result by the number of days in the billing period.  To get the "Average Daily Balance" we take the beginning balance of your Account 
each day, add any new purchases or cash advances, and subtract any payments or credits, unpaid Interest Charge and unpaid late 
charges.    This  gives  us  the  daily  balance.    Then,  we  add  up  all  the  daily  balances  for  the  billing  period  and  divide  the  total  by  the 
number of days in the billing period.  This gives us the "Average Daily Balance."  To get the “Daily Periodic Rate,” we divide the Annual 
Percentage Rate in effect for the billing period by 365. 
9.  PERIODIC RATE AND CORRESPONDING ANNUAL PERCENTAGE RATE.   

a.  Standard  Rates.    The  Annual  Percentage  Rate(s)  and  corresponding  Daily  Period  Rate(s)  that  are  used  to  compute  the 
Interest  Charge  for  your  Account  are  based  upon  your  credit  qualification  and  are  disclosed  in  the  Account  Disclosure  and  each 
monthly billing statement.   

b. 

Introductory  Rates.    At  our  discretion,  we  may  offer  you  an  introductory  or  promotional  Annual  Percentage  Rate  for  your 
Account.    Any  introductory  or  promotional  Annual  Percentage  Rate  will  be  subject  to  the  terms  of  the  offer  and  this  Agreement, 
including  but  not  limited  to  the  Penalty  APR  described  below.    We  will  provide  you  with  information  on  the  offer,  including  the  time 
period the introductory or promotional Annual Percentage Rate is in effect in the Account Disclosure or in other materials that we send 
to you about the offer after you receive your Credit Card. 

c. 

 Penalty APR.  The Daily Periodic Rate and Annual Percentage Rate may increase if your minimum payment has not been 
received  within  60  days  after  the  due  date  for  such  payment,  in  which  case  we  may  increase  the  Annual  Percentage  Rate  for  your 
entire  balance  to  19.90%  (“Penalty  APR”).    We  will  send  you  advance  written  notice  that  your  Annual  Percentage  Rate  will  be 
increasing.    Following  implementation  of  the  Penalty  APR,  if  you  make  your  payments  on  time  for  six  (6)  consecutive  months,  the 
Penalty APR will terminate and the prevailing variable Annual Percentage Rate will apply. 
10.  CONDITIONS UNDER WHICH OTHER CHARGES MAY BE IMPOSED.  You agree to pay the following fees and charges on your 
Account. 

a.  Late Fee.  If we do not receive your minimum payment within 3 days of the due date, you agree to pay a late fee of $25. 
b.  Copying Fee.  We may charge you $13 for each VISA draft copy you request for your Account.  If the request relates to a 

billing error and we determine that a billing error was made, any photocopying charges will be refunded. 

c.  Returned Item Fee.  If any check or draft we receive from you as payment for any amount you owe to us is returned to us 

unpaid, you agree to pay a returned item fee of up to $25. 

d.  ATM Fee.  If you use an ATM to obtain a cash advance and the ATM is not operated by us, you may be charged an ATM 
surcharge  by  the  ATM  operator  or  an  ATM  network  utilized  for  such  a  transaction.    The  ATM  surcharge  may  be  charged  to  your 
Account if you complete the transaction.   

e.  Attorney's  Fees  and  Costs.   If  you  default  on  any  part  of  this  Agreement,  you  agree  to  pay  us  all  costs  to  collect  your 
Account,  including  court  costs  and  reasonable  attorney  fees  whether  or  not  there  is  a  lawsuit, and fees on any appeal and fees for 
bankruptcy  proceedings,  appeals,  and  any  post-judgment  collection  services,  if  applicable.    These  fees  and  costs may be added to 
your Account balance and will bear interest at the Annual Percentage Rate in effect at that time. 
11.  CONDITIONS OF CARD USE.  The use of your Card and Account are subject to the following conditions: 

a.  Use.    Your  Card  and  Account  may  be  used  only  for  valid  and  lawful  purposes.    You  may  not  use  your  Card  (i)  to  make 
Purchases or obtain Cash Advances for any illegal transaction, or (ii) for any internet or online gambling transactions.  If you use your 
Card  for  any  illegal  or  prohibited  transaction,  this  Agreement  also  applies  to  such  transaction  and  you  agree  to  pay  any  and  all 
amounts  related  to  such  transaction  pursuant  to  the  terms  of  this  Agreement.  We  may,  in  our  sole  discretion,  restrict  the  use  of  or 
terminate your Card if we notice excessive use of your Card or other suspicious activities or if we reasonably believe the Card is or has 
been used for one or more illegal or prohibited transactions. 

b.  Ownership  of  Cards.   Any  Card  or  other  credit  instrument  or  device  which  we  supply  to  you  is  our  property  and  must  be 
returned  to  us,  or  to  any  person  whom  we  authorize  to  act  as  our  agent,  or  to  any  person  who  is  authorized  to  honor  the  Card, 
immediately according to instructions.  The Card may be repossessed at any time in our sole discretion without demand or notice.  You 
cannot transfer your Card or Account to another person. 

c.  Honoring the Card.  We may decline to honor any transaction for any reason.  Neither we nor merchants authorized to honor 
the Card will be responsible for the failure or refusal to honor the Card or any other credit instrument or device we supply to you.  If a 
merchant agrees to give you a refund or adjustment, you agree to accept a credit to your Account in lieu of a cash refund. 

d.  Currency Conversion/International Transaction Fee. Purchases and cash advances made in foreign countries will be billed to 
you in U.S. dollars. The currency conversion rate for international transactions as established by VISA International, Inc. is a rate selected 
by VISA from the 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 addition, you 
will be charged an International Transaction Fee of 1% of the transaction amount for any card transaction made in a foreign country. 

e.  Notices  and  Payments.   All  notices  will  be  sent  to  your  address  as  shown  in  the  application.    You  agree  to  advise  us 
promptly if you change your mailing address.  All payments should be mailed to us at the remittance address shown on your monthly 
statements.  Payments received at that address will be credited to your Account as of the date received.  Written notices and inquiries 
to us must be sent to:  

Red Canoe Credit Union 

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©2018 Farleigh Wada Witt 

 
PO Box 3020 
Longview, WA 98632 
(800) 562-5611 

f.  Personal  Identification  Number.   If  we  issue  you  a  Personal  Identification  Number  ("PIN")  for  use  with  your  Card  in 
accessing your line of credit at ATMs, these numbers are issued to you for your security purposes.  These numbers are confidential 
and should not be disclosed to third parties.  You are responsible for safekeeping your PIN.  You agree not to disclose or otherwise 
make available your PIN to anyone not authorized to sign on your Account.  To keep your Account secure, please do not write your 
PIN on your Card or keep it in the same place as your Card. 
12.  LOAN PROTECTION.  Loan Protection coverage is not required for any extension of credit under this Agreement.  However, you 
may purchase any loan protection available through us and have the monthly fee added to your outstanding balance as purchases.  If 
you elect to do so, we will give you the necessary disclosures and documents separately. 
13.  DEFAULT.  You will be in default under this Agreement if any of the following occur:  (a) Any Minimum Monthly Payment is not 
made when due; (b) You become insolvent, bankrupt, or you die; (c) You violate any part of this Agreement, or any other agreement 
with us; or (d) If we reasonably deem ourselves insecure with respect to your Account.  Upon default, we may declare the entire unpaid 
balance immediately due and payable, and you agree to pay that amount plus any attorney's fees and costs we incur, including fees 
and costs in any appeal or bankruptcy proceeding.  We can delay enforcing any right under this Agreement without losing that right or 
any other right.  We will notify you in writing of any such action as soon as practical if it occurs. 
14.  GOVERNING LAW.  This Agreement will not take effect until it is approved by us.  This Agreement shall be governed by the laws 
of the State of Washington. 
15.  SEVERABILITY.    If  any  provision  of  this  Agreement  is  held  invalid,  the  remaining  provisions  that  are  severable  shall  remain  in 
effect. 
16.  LOSS  OR  THEFT  OF  CARD.    You  agree  to  promptly  notify  us  immediately  of  the  loss,  or  the  theft,  or  the  use  without  your 
permission, of any Card or other credit instrument or device which we supply to you.  You may be liable for the unauthorized use of 
your  card  if  we  reasonably  determine  your  handling  of  your  Card  or  account  was  negligent  or  fraudulent.  You  will  not  be  liable  for 
unauthorized use which occurs after you notify:  Red Canoe Credit Union, PO Box 3020, Longview, WA 98632, Telephone:  (800) 562-
5611, orally or in writing of loss, theft, or possible unauthorized use.  In any case, your liability shall not exceed $50. 
17.  CREDIT  INFORMATION/FINANCIAL  STATEMENTS.    You  authorize  us  to  release  information  to  others  (e.g.,  credit  bureaus, 
merchants, and other financial institutions) regarding the status and history of your Credit Line.  You agree to provide us, at any time 
we deem necessary, with a current financial statement and/or updated credit information upon request. We may investigate your credit 
directly or through a credit reporting agency. 
18.  AMENDMENTS.  We reserve the right to change any terms or conditions of this Agreement at any time, to the extent permitted by 
applicable law. We will notify you of the changes to this Agreement as required by law. 
19.  ACKNOWLEDGMENT.    You  understand  and  agree  to  the  terms  and  conditions  in  this  Agreement  and  the  Fair  Credit  Billing 
Notice.  You acknowledge that you have received a copy of this Agreement, the Account Disclosure, and the Fair Credit Billing Notice. 
This Agreement is a final expression of the agreement between you and the Credit Union.   

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©2018 Farleigh Wada Witt 

 
 
 
RED CANOE CREDIT UNION 
Business VISA Platinum Credit Card Account Disclosures 

INTEREST RATES AND INTEREST CHARGES 

Annual  Percentage  Rate  (APR)  for 
Purchases and Cash Advances 

Annual  Percentage  Rate  (APR)  for 
Balance Transfers  

Penalty APR and When it Applies 

Paying Interest  

4.90% Introductory APR for 6 months from date of account opening. 
After 
creditworthiness. 

that,  your  APR  will  be  9.90%-20.90%  based  on  your 

Your APR will be 9.90%-20.90% when you open your account based on your 
creditworthiness. 
20.90% 
This APR may be applied to your account if you make a late payment. 
How Long Will the Penalty APR Apply?  If your APRs are increased for this 
reason, the Penalty APR will apply until you make six consecutive minimum 
payments when due. 
Your due date is approximately 25 days after the close of each billing cycle. 
We will not charge any interest on the portion of the purchases balance that 
you pay by the due date each month. We will begin charging interest on cash 
advances and balance transfers on the transaction date. 

For  Credit  Card  Tips 
the 
Consumer Financial Protection Bureau 

from 

To  learn  more  about  factors  to  consider  when  applying  for  or  using  a  credit 
card,  visit  the  website  of  the  Consumer  Financial  Protection  Bureau  at 
www.consumerfinance.gov/learnmore. 

FEES 

Annual Fee 

Transaction Fees 

Penalty Fees 

None 
None 

  Late Payment Fee 
  Returned Payment Fee 

$25. 
Up to $25. 

How We Will Calculate Your Balance: We use a method called “average daily balance” (including new purchases). 

Loss of Introductory APR: We may end your introductory APR and apply the Penalty APR if you make a late payment 
These  Account  Disclosures  for  the  Business  VISA  Platinum  Credit  Card  are  part  of  and  integrated  with  your  Business 
VISA Platinum Credit Card Agreement with Red Canoe Credit Union. We reserve the right to amend the  Business VISA 
Platinum Credit Card Agreement as permitted by law. The above rates and fees are effective as of _______ 

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©2018 Farleigh Wada Witt