Northeast Credit Union 
Visa Cardholder Agreement

Reward / Preferred / Signature 
Classic / Platinum / Business

100 Borthwick Avenue, PO Box 1240  
Portsmouth, NH 03802-1240 
603.436.1847 • 1.888.436.1847 
www.necu.org

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Northeast  Credit  Union  Visa  Cardholder 
Agreement

3. You Promise to Pay.

This Agreement covers your credit card account with 
us, Northeast Credit Union (“Issuer” or “Us”). The 
person (“Account Holder”, or “You”) whose name is 
embossed on the face of the Northeast Credit Union 
Visa Card (“Card”) provided to Account Holder and 
issued by us. Each Account Holder by signing or using 
the Card, agrees with Issuer to the following terms:

1. Your Account. If you have a joint account, each 
Account Holder has the right to use the account up 
to the extended credit limit as described below. Each 
Account Holder is bound by these terms and each, 
individually, will be liable for all charges, even if only 
one of you uses the account. For joint accounts, each 
individual separately and both individuals together, 
are referred to in this Agreement as (“You”).

2. Credit Card Account Services. These services 
are available through your Visa card account up to 
the amount of your credit limit.

(A) Credit Purchases. You can use your account to 
purchase goods and services wherever Visa credit 
cards are accepted (referred to in this Agreement as 
“Credit Purchases”).

(B) Cash Advances. You can get a Cash Advance 
(referred to in this Agreement as a “Cash Advance”) 
from  your  account  by  presenting  your  Card  at  a 
financial  institution  that  accepts  Visa.  Whenever 
You  request  an  advance,  We  may  require  You  to 
prove Your identity. If You request an advance by 
telephone, We will deposit the amount requested in 
Your Share Account or Your Checking Account and 
You authorize Us to do this, or We will draw a check 
made payable to You and mail it to You. When the 
amount advanced appears on a subsequent statement, 
that will be conclusive evidence of Your telephone 
request. You understand that all advances are subject 
to Our prior approval. In particular whether or not 
any  specific  secured  advance  request  is  approved 
depends, in part, upon how much equity You have 
or  will  have  in  the  Collateral  offered  as  security. 
You may not obtain a cash advance if Your Account 
is delinquent, closed, or the amount of the advance 
would cause Your balance to exceed Your credit limit.

(C) Overdraft Protection. If You have been approved 
for an Overdraft Feature on Your Checking account, 
or if Your Checking Account is overdrawn by any 
other means (including the use of Your Northeast 
Visa Check Card), We may transfer funds to clear 
any  Overdraft  on  Your  Checking  Account  (or  in 
such  increments  as  We  may  from  time  to  time 
determine)  by  an  advance  on  Your  Visa  subject 
to  this  provision.  Whether  or  not  such  a  transfer 
occurs will be controlled by this Agreement. In any 
event, You hold us harmless for any and all liability 
which might otherwise arise if the transfer does not 
occur. We are under no obligation to pay a Check 
which exceeds Your Visa Line of Credit Limit or a 
Check on which the date is more than six months 
old. Overdraft protection automatically ceases if this 
Agreement is ever cancelled or terminated or Your 
Account is in default. Different rules may apply to 
Business Platinum Visa. See Business Platinum 
Visa Card Agreement Addendum and Business 
Platinum Visa Disclosure.

(A) You promise to pay us, when due, the total of 
all Credit Purchases and Cash Advances you make 
on your account. You also promise to pay the total 
of any FINANCE CHARGE and other charges due 
on the account. You also promise to pay all costs and 
expenses, including reasonable attorneys’ fees that 
we incur in enforcing this Agreement.

(B) You may pay your entire balance at any time.

4. Additional Cardholders or Others Using Your 
Account.  You  may  authorize  others  to  use  Your 
Account. Each additional cardholder will receive a 
credit card with his or her individual name embossed. 
You promise to pay for all Credit Purchases and Cash 
Advances made by anyone you authorize to use your 
account, with or without a card, and whether or not 
you notify us that he or she will be using it. If another 
person has use of your account and you want to end 
that person’s privilege, you must recover and return 
that person’s credit card, if any. If you are unable 
to recover and return the card, You will continue to 
be liable, for any charges made unless you tell us 
to cancel all cards and establish a new account for 
You, which will be done automatically if You notify 
us of unauthorized use under Paragraph 18 of this 
Agreement. We may request written verification from 
You regarding any change or cancellation to Your 
Account. Different rules may apply to Business 
Platinum Visa. See Business Platinum Visa Card 
Agreement  Addendum  and  Business  Platinum 
Visa Disclosure.

5.  VISA  Currency  Conversions.  If  you  effect  a 
transaction with your VISA Card in a currency other 
than U.S. dollars, the rate of exchange between the 
transaction, the transaction currency and the billing 
currency  used  for  processing  the  transaction  will 
be  the  wholesale  market  rate  or  the  government 
mandated  rate  in  effect  for  the  applicable  central 
processing date. Additionally, this transaction may 
also  be  assessed  a  separate  International  Service 
Assessment (ISA) transaction fee (See Fee Schedule). 
Also, if your transaction was performed at a non U.S. 
location the International Service Assessment (ISA) 
transaction fee (See Fee Schedule) may be assessed. 
Foreign transactions billed directly in U.S. dollars 
may also be assessed the ISA fee. (See Fee Schedule)

6.  Your  Credit  Limit:  Over  Limit.  Your  credit 
limit is shown on each of your billing statements. 
You agree not to use your account in any way that 
will cause your balance to go over your limit. If you 
do, we may at our option, close your account, and/
or  exercise  any  of  our  other  remedies  under  this 
Agreement or at law. You must pay the full amount 
of your balance which is over the credit limit. We 
may include the balance over the limit as part of your 
minimum payment shown on your billing statement. 
We will not authorize any new Credit Purchases or 
Cash Advances if our records show that doing so 
will  cause  your  balance  to  go  over  your  limit.  If 
we do authorize any such Credit Purchase or Cash 
Advance, such authorization will not result in any 
waiver of our rights under this section. If we increase 
your credit limit we will notify you.

to the extent that such laws are not inconsistent with 
controlling Federal Law. You agree not to use your 
Visa card for any illegal purpose.

8.  Honoring  Your  Card.  We  will  not  have  any 
responsibility  to  you  if  merchants,  financial 
institutions or others refuse to honor a card issued 
on Your Account.

9.  Security  Interest.  (Not  applicable  to  Maine 
residents.)  You  understand  and  consent  to  a  lien 
on Your shares with Us in either joint or individual 
accounts, and any dividends due or to become due 
to You from Us to the extent You owe on any unpaid 
credit  card  balance.  We  may  off-set  any  mutual 
indebtedness.  This  security  interest  secures  each 
advance  including  any  renewals  or  refinancing  of 
such advances made under this Agreement and any 
other amounts You owe Us for any reason now or 
in the future.

You grant the Credit Union a security interest under 
the  Uniform  Commercial  Code  and  under  any 
common law rights the Credit Union may have in 
any goods you purchase. 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.

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.

10.  Payment  Schedule  (Minimum  monthly 
payments). Platinum, Classic, Business, Reward, 
Preferred, and Signature Visa Credit Cards only. 
You understand that You have the right to repay Your 
Account at any time without penalty. We must receive 
at least the minimum periodic payment shown on Your 
billing statement by the payment due date. You may 
make larger payments without penalty. Any partial 
payment or prepayment of Your Account will not 
delay Your next scheduled payment. All payments 
to Us must be in lawful money of the United States. 
Payments  will  be  applied  in  the  following  order, 
first to any LATE CHARGES owing then to the 
FINANCE CHARGE due, then to the outstanding 
principal balance, highest interest rate to the lowest 
interest rate. Any unpaid portion of the FINANCE 
CHARGE will be paid by subsequent payments and 
will not be added to the principal. Visa minimum 
payments will be 2% of Your new Account balance 
at the end of each billing period subject to the lesser 
of $20 or Your Account Balance. Minimum payment 
will be due within 28 to 30 days after the date of Your 
periodic statement and must be received by 5pm EST 
on the day your payment is due. You may by separate 
agreement  authorize  Us  to  charge  the  Minimum 
Monthly  Payment  automatically  to  Your  Share 
Account or Your Checking Account. Different rules 
may apply to Business Platinum Visa. See Business 
Platinum Visa Card Agreement Addendum and 
Business Platinum Visa Disclosure.

7. Governing Law. This agreement is controlled and 
governed by the laws of the state of New Hampshire 

11.  Default.  You  will  be  in  default  and  we  may, 
without  notifying  You,  temporarily  suspend  your 

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credit, close Your account, cancel all credit card’s 
issued on it and require immediate payment of your 
entire balance if any of the following occurs:

(A) You fail to make a payment on this or any other 
loan account with Northeast when it is due.

(E) If the cash advance balance is subject to more 
than one rate (for example, because of cash advances 
made during a promotional or introductory rate offer), 
we will separately calculate the balance subject to 
FINANCE CHARGE, and the resulting FINANCE 
CHARGE in the same manner as described above.

(B) You do not follow the terms of this Agreement 
in any way.

The  Periodic  FINANCE  CHARGE  on  Credit 
Purchases is Calculated as follows:

(C) You have made any false or misleading statement 
on the application for Your Account.

(D) You fail to pay any other loans you owe us.

(E) You become insolvent or die.

(F) There is an attachment, execution or levy against 
your property or You make an assignment for the 
benefit of creditors.

(G) A bankruptcy petition is filed by or against You 
or Your spouse.

(H) A guardian, conservator, receiver, custodian or 
trustee is appointed for you.

(I) You are generally not paying Your debts as they 
become due; or

(J) There has been a material adverse change in Your 
financial condition.

In the event of any of the above We may require the 
return of all credit cards issued under this Account. 
But of course, you don’t want this to happen. Call 
us first and let us try to help you.

12. Re-evaluation of Credit: We can re-investigate 
and re-evaluate any information you provided on Your 
credit application at any time, and in the course of 
doing so, we may ask you for additional information, 
request credit bureau reports and/or otherwise verify 
your current credit standing. 

13. The Periodic FINANCE CHARGE on Cash 
Advances is calculated as follows:

(A)  We  start  with  the  Previous  Balance  on  cash 
advances  at  the  beginning  of  the  billing  period. 
For FINANCE CHARGE calculation purposes, the 
billing period begins on the Statement/Closing Date 
listed on the previous billing statement and varies 
with the number of days in the billing period.

(B) On each day of the billing period we subtract 
payments, add new cash advances and fees, and make 
adjustments. This determines a daily balance. Unless 
we elect to use a later date, we add cash advances to 
the balance as of the day they are taken.

(C) We total the daily balances (except for the balance 
on the Statement/Closing Date listed on the current 
billing statement) and then divide that amount by the 
number of days in the billing period. This determines 
the average daily balance on the billing statement.

(D) We multiply the Average Daily Balance by the 
applicable daily periodic rate and then multiply the 
resulting amount by the number of days in the billing 
period.  This  resulting  amount  is  your  FINANCE 
CHARGE on cash advances.

(A) We start with the Previous Balance on purchases 
at the beginning of the billing period. For FINANCE 
CHARGE calculation purposes, the billing period 
begins on the Statement/Closing Date listed on the 
previous billing statement and varies with the number 
of days in the billing period.

(B) On each day of the billing period we subtract 
payments, add new purchases and fees, and make 
adjustments. This determines a daily balance. Unless 
we elect to use a later date, we add a new purchase 
to the balance as of the date of the purchase.

(C) We total the daily balances (except for the balance 
on the Statement/Closing Date listed on the current 
billing statement), and then divide that amount by the 
number of days in the billing period. This determines 
the average daily balance on the billing statement.

(D) We multiply the Average Daily Balance by the 
applicable daily periodic rate. The resulting amount 
is your FINANCE CHARGE on purchases.

(E) If the purchase balance is subject to more than 
one rate (for example, because of purchases made 
during  a  promotional  or  introductory  rate  offer), 
we will separately calculate the balance subject to 
FINANCE CHARGE, and the resulting FINANCE 
CHARGE in the same manner as described above.

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 within 28 
to 30 days from the closing date of that statement. 
If you elect not to pay the entire New Balance shown 
on your previous monthly Statement within the 28 
to 30-day period, a FINANCE CHARGE will be 
imposed  on  the  unpaid  average  daily  balance  of 
such Credit Purchases from the previous statement 
closing date and on 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 28 to 30 days 
from the closing date.

The APR (Annual Percentage Rate) may vary every 
calendar quarter and it may increase or decrease if 
there  is  a  change  in  the  selected  index.  The  new 
APR is calculated by taking the highest US Prime 
Rate (as published in the Wall Street Journal) and 
adding the margin for the card. You should refer to 
the Visa Disclosure - Federal Truth in Lending Act 
for  specific  information.  If  there’s  an  increase  or 
decrease in rate, it will take effect the first day of the 
next billing cycle. An increase in rate will increase 
the scheduled minimum monthly payment.

THE  CLASSIC,  PLATINUM,  REWARD, 
PREFFERED,  AND  SIGNATURE  VISA  ARE 

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A  VARIABLE  RATE  LOAN.  YOU  SHOULD 
REFER TO THE VISA DISCLOSURE FEDERAL 
TRUTH  IN  LENDING  ACT  FOR  SPECIFIC 
INFORMATION  ON  CURRENT  ANNUAL 
PERCENTAGE RATES AND DAILY PERIODIC 
RATES FOR CLASSIC, PLATINUM, REWARD, 
PREFFERED, AND SIGNATURE  VISA, AND 
FOR BUSINESS PLATINUM VISA.

14. Our Right to Cancel Your Account. We can 
cancel Your account at any time, or reduce the amount 
of Your credit line, without notice to You, except in 
those situations where notice is required by law. If 
we  cancel Your  account, You  agree  to  destroy  all 
Cards issued on Your account by cutting them in half 
and returning them to Us. You will continue to be 
responsible for full payment of the balance on Your 
account and all charges to Your account, including 
those not yet received by us, as well as subsequent 
FINANCE CHARGES and other charges. Each Card 
is our property, and You agree that the Cards are not 
transferable and to surrender any Card upon demand.

15. Collection Costs. If we have to refer collection 
of your account to a lawyer (who is not our salaried 
employee), to the extent permitted by law, you will 
have  to  pay  our  attorney’s  fee  plus  court  costs  or 
any other fees. If we sue to collect and you win, we 
will pay your reasonable legal fees and court costs.

16.  Change  in  Terms  of Your Account.  We  can 
change any terms of your account at any time. We 
will provide you with such notice as is required by 
law by mailing a notice to you at the latest address 
shown in our records. Written notice of increases in 
the required minimum payment or other significant 
changes in the account terms are provided at least 45 
days before the effective date of the change. Subject 
to applicable law, any change will apply to the current 
balance of your account, as well as to future balances.

17.  If  Your  Card  is  Lost  or  Stolen  or  if  an 
Unauthorized use may occur. You agree to notify 
us  immediately  if  your  card  is  ever  lost  or  stolen 
or if an unauthorized use may have occurred. The 
telephone number to call is 888.436.1847, and you 
agree to follow up your call with notice in writing 
to  us  at:  Northeast  Credit  Union,  PO  Box  1240, 
Portsmouth,  NH  03802-1240.  You  also  agree  to 
assist us in determining the facts, circumstances and 
other pertinent information relating to any loss, theft 
or possible unauthorized use of your credit card and 
comply with such procedures as we may require in 
connection with our investigation including assisting 
in the prosecution of any unauthorized user. 

18. Liability for Unauthorized Use of Credit Card.  
We will not hold you liable for the unauthorized use of 
your credit card if you notify us verbally or in writing 
within a responsible period of time of the loss, theft 
or possible unauthorized use of your credit card.

19.  Credit  Information.  We  may  report  your 
performance under this Agreement to credit reporting 
agencies including your failure to make minimum 
payments  on  time.  A  negative  credit  report  may 
significantly  harm  your  ability  to  obtain  credit 
from other sources. We may also obtain follow-up 
credit reports on you (for example, when we review 
your  account  for  a  credit  line  increase).  We  may 
exchange  information  about  you  or  your  account 

If We find that We made a mistake on Your statement, 
You will not have to pay any FINANCE CHARGES 
related  to  any  questioned  amount.  If  We  did  not 
make a mistake, You may have to pay FINANCE 
CHARGES,  and  You  will  have  to  make  up  any 
missed payments on the questioned amount. In either 
case, We will send You a statement of the amount 
You owe and the date that it is due.

If you fail to pay the amount that We determine You 
owe, we may report You as delinquent. However, if 
Our explanation does not satisfy You and You write to 
Us within ten (10) days telling Us that You still refuse 
to pay, We must tell anyone We reported You to that 
You have a question about Your statement and, We 
must tell You the name of anyone We reported You 
to. We must tell anyone We reported You to that the 
matter has been settled between Us when it finally is.

If We don’t follow these rules, We can’t collect the 
first  $50  of  the  questioned  amount,  even  if  Your 
statement is correct.

SPECIAL  RULE  FOR  CREDIT  CARD 
PURCHASES.  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:

(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.

with  our  wholly  owned  subsidiary,  Investment  & 
Insurance Services. Otherwise, no one else will be 
given information about your account without your 
permission or proper legal authority. If you think we 
reported erroneous information to a credit reporting 
agency or wish to learn the names of the agencies 
we contacted, write us at the address listed on the 
billing statement. We will promptly investigate the 
matter, and if our investigation shows you are right, 
we will contact each credit reporting agency to whom 
we reported and will request they correct the report.

20.  Waivers.  If,  for  any  reason, We  do  not  make 
use of any of Our rights under this Agreement on a 
particular occasion, that will not limit Our rights in 
the future in any way. We can accept late payments, 
partial payments or any other payments, even if they 
are marked “paid in full” without losing any of Our 
rights  under  this  Agreement.  If  any  provision  of 
this or any related Agreement is determined to be 
unenforceable or invalid, all other provisions, remain 
in full force and effect.

21.  Our  Address  to  Send  Payment:  Payments 
must be sent to the address listed on the front of the 
billing statement. To inquire or send correspondence: 
Write us at the address indicated on the front of the 
billing statement.

22.  Important  Notice  to  Our  Customer  Who 
Contacts  Us  by  Phone.  Account  Holder  agrees 
that Issuer, its agents and service companies may, 
without  the  need  to  seek  additional  confirmation 
from Account  Holder,  monitor  and/or  record  any 
telephone communications with Account Holder to 
insure that inquiries from you are handled promptly, 
courteously, and accurately.

23. Visa USA Rules and Regulations. The services 
being  provided  to  you  under  this  Agreement  are 
made possible by Northeast Credit Union’s status as 
a licensee of Visa USA. You recognize Northeast’s 
responsibility to comply with the current Visa USA 
rules and regulations and changes to them in order 
to continue to provide these services. 

24.  Regulation  Z  Initial  Disclosures.  By  using 
Your card, You acknowledge receipt from US of the 
Initial Disclosures required by Regulation Z of the 
Truth-in-Lending Act and that the terms contained 
in  the  Initial  Disclosures  apply  to  You  and  Your 
use of the card and are incorporated in full into this 
Agreement. The information about the terms and costs 
of the Card described in this Agreement is accurate 
as of the effective date. This information may have 
changed after that date.

25.  Unlawful  Internet  Gambling  Enforcement 
Act.  Federal law, the Unlawful Internet Gambling 
Enforcement Act of 2006 (effective June 2, 2010) 
and implementing regulations prohibit members or 
business account holders from receiving deposit or 
other credits of any kind relating to their operation 
of an illegal Internet gambling business. Under the 
Act, any person engaged in the business of betting 
or wagering (as defined by the statute) is prohibited 
from  completing  “restricted  transactions,”  or 
knowingly accepting payments in connection with the 
participation of another person in unlawful Internet 
gambling.  Northeast  Credit  Union  is  required  to 
enforce that prohibition.

It  is  NECU’s  policy  to  not  open  or  maintain  any 
account  for  commercial  members  held  with  the 
intent  to  conduct  or  engage  in  Internet  gambling 
activity, whether legal or illegal. If the credit union 
discovers or determines that an existing commercial 
member transacts or engages in Internet gambling 
activity as defined by the UIGEA, the credit union 
reserves the right to restrict services or terminate the 
account relationship.

YOUR  BILLING  RIGHTS  -  KEEP  THIS 
NOTICE FOR FUTURE USE

This  notice  contains  important  information  about 
Your rights and Our responsibilities under the Federal 
Truth-In-Lending Act.

NOTIFY  US  IN  CASE  OF  ERRORS  OR 
QUESTIONS ABOUT YOUR STATEMENT

If  You  think  Your  statement  is  wrong,  or  if  You 
need more information about a transaction on Your 
statement, write Us on a separate sheet, at Our address 
shown  in  this Agreement. Write  to  Us  as  soon  as 
possible. We must hear from You no later than 60 
days after we sent You the first statement on which 
the error or problem appeared. You may telephone 
Us at 888.436.1847, but doing so will NOT preserve 
Your rights.

In Your letter give Us the following information:

Your Name and Account number.

Dollar Amount of the suspected error.

Describe the error and explain, if You can,  
why you believe there is an error. If You  
need more information, describe the item  
You are not sure about.

Write to: 

Northeast Credit Union 
PO Box 1240, Portsmouth, NH 03802-1240

Call at:

603.436.1847 
1.888.436.1847

If you have authorized Us to pay Your Credit Card bill 
automatically from Your Share or Checking Account, 
You can stop the payment on any amount You think 
is  wrong.  To  stop  the  payment,  Your  letter  must 
reach Us three (3) business days before the automatic 
payment is scheduled to occur.

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 statement is correct.

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 statement that are 
not in question.

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It’s Easy To Become A Member

Anyone living, working, or doing business in NH or within 30 miles of one of our branches is 
eligible for membership.

Berlin

Concord

Conway

Dover

Exeter

Gorham

Lebanon

Lee

Manchester 

Merrimack

Northwood

Plymouth

Portsmouth

Portsmouth Naval Shipyard

Rochester

For a branch address, visit necu.org/locations

A Trusted Neighbor

Like a trusted neighbor, Northeast Credit Union is here for our members and the communities we serve. 
Each member benefits from a vision that extends beyond the bottom line. Northeast Credit Union is 
committed to looking out for our members’ best interests and helping to enhance their financial well-being. 
And since we’re local, our members trust that we will personally guide them to the right financial product or 
service to meet their individual needs. 

Call 
888.436.1847

Click
necu.org

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Visit 
your local branch

VR5584.04.15