Share Pledge Agreement for  
Visa® Classic Secured Credit Card 

Borrower Name:  __________________________________________________________________________________ 

Co-Borrower Name (if applicable):  ____________________________________________________________________ 

Member Number:  _________________________________________________________________________________ 

Share Account Number in which Pledged Funds are currently on Deposit:  _____________________________________ 

Amount of Shares Pledged (must be equal to amount of secured credit being requested): $________________________ 

AGREEMENT 

These funds will be transferred to a share account within your membership.  You will see the account reflected on 
your periodic statement. 

This Share Pledge Agreement for Visa Classic Secured Credit Card (“Share Pledge Agreement”) is provided together with 
the Arrowhead Credit Union Visa Credit Card Agreement and Disclosure (hereinafter, “Visa Credit Card Agreement”) the 
terms of which are incorporated herein by this reference.   

Pledge of Shares (Funds):  We (the borrower(s)), understand that in consideration for the Credit Union opening a Visa 
Classic Secured Credit Card account in my name and issuing an Arrowhead Visa Credit Card to me, I am pledging, under 
the Uniform Commercial Code (UCC), shares now on deposit in the account I have  identified above.  I understand  and 
agree that I must, at all times, keep a sum equal to my total credit limit in this account and that these funds will not be 
available to me until such time as I repay my account balance and my Visa Classic Secured Credit Card account is closed.  
I  understand  and  agree  that  this  security  interest  will  cover  future  purchases  and  advances  under  this  Share  Pledge 
Agreement.  If I default, Arrowhead Credit Union may apply these shares to repay my Account Balance in accordance with 
federal or other law. 

I understand and agree that the annual percentage rate (APR) I received when I opened this Account:  1) applies only while 
the account is fully secured and that if for any reason I no longer have sufficient funds in the above-referenced account to 
secure the credit limit and you are unable to transfer funds from any of my other Arrowhead Credit Union accounts, my APR 
will be increased to the penalty APR set forth in the Account Opening Disclosure; and (2) applies only to the credit limit 
amount. 

Further, I understand that this pledge of shares in no way affects your ability to increase my APR if my account becomes 
past due as provided for in the Visa Credit Card Agreement. 

Pledge of future shares for secured credit limit increases:  If, in the future, I request an increase to my credit limit, 
I  understand  and  agree  that  you  will  automatically  hold  an  amount  equal  to  the  amount  of  the  increase  I  have 
requested, in addition to the amount already held, in the share account designated above.  I agree that if I do not 
have  sufficient  funds  on  deposit  in  the  share  account  designated  above,  I  am  required  to  immediately  deposit 
additional funds to cover an increase to the amount of credit provided to me on this Visa account. 

Copy Received: I acknowledge receipt of the Arrowhead Credit Union Visa Credit Card Agreement and this Share Pledge 
Agreement as an integrated part of such Visa Classic Secured Credit Card Agreement, and agree to and accept its terms. 

_________________________________________________________________________________________________ 
BORROWER SIGNATURE 

DATE 

_________________________________________________________________________________________________ 
CO-BORROWER SIGNATURE   

DATE 

Rev. 04/16/2018