Palmetto Citizens Federal Credit Union 

Classic Visa®  Visa® Gold 

Visa® Platinum 

Agreement & Disclosure Statement 

THIS AGREEMENT IS SUBJECT TO BINDING ARBITRATION PURSUANT TO EITHER 
THE FEDERAL ARBITRATION ACT AT 9 USC §1 ET SEQ., OR S.C. CODE §15-48-10 ET 
SEQ., (See, Paragraph 2 of the Cardholder Agreement for complete details.) 

This table provides important information regarding your credit card account with Palmetto Citizens 
Federal Credit Union. 

TRUTH-IN-LENDING DISCLOSURE TABLE 

Classic Visa 

Visa Gold 

Visa Platinum 

Annual Percentage Rate 
(“APR”) 
Monthly Periodic Rate 
(“MPR”) 

12.50% 

10.75% 

9.90% 

1.042% 

0.896% 

0.825% 

Annual Fee 

None 

None 

None 

Grace Period for 
Repayment on the Balance 
for Purchases 

Method of Computing the 
Balance for Purchases and 
Cash Advances 

25 days to repay your balance for purchases before 
being charged a finance charge. There is no grace period 
for cash advances, which accrue finance charges from 
the time they are posted to your account.  

Average Daily Balance  
(including new purchases and advances) 

AGREEMENT AND DISCLOSURE 

This is your Agreement and Disclosure Statement with the Credit Union. Please read it carefully and keep 
it for your records. It supersedes all prior agreements and disclosure statements relating to your account. 
You do not have to sign the Agreement. Your agreement to all of these provisions, as amended from time 
to time including the Card issued by us, will be shown by your application for the Card, your acceptance 
of the Card, or your use of the Card, whichever occurs first. 

How to Use This Account 
You must sign the Card in order to use it. You can purchase or lease goods and services (“Purchases”) 
from any merchant who honors your Card up to your maximum credit limit by presenting your Card and 
signing a sales slip or writing a Convenience Check for the amount of the purchase. You may also use the 
Card to obtain cash loans (“Cash Advances”) up to your maximum credit limit from financial institutions 
that accept a Visa credit card, and by use of preprinted Convenience Checks that the Credit Union may 
issue to you. You agree not to present your Card, obtain a cash advance or write a Convenience Check for 
any extension of credit in excess of your available Credit Limit (difference between your outstanding 

 
 
 
 
 
balance and maximum credit limit) on your account.  

Definitions 
In the Agreement, the words “Card,” and “Credit Cards” mean either one or more VISA credit cards; the 
words “you,” “your,” and “yours” mean the cardholder as well as anyone the cardholder permits to use 
the Card; the words “Credit Union,” “we,” “us,” and “our” mean Palmetto Citizens Federal Credit Union; 
and the words “Convenience Checks” mean one or more checks that we may send to you to access your 
Credit Card Account.  

Binding Arbitration. EXCEPT AS SPECIFICALLY PROVIDED HEREIN, THIS ARBITRATION 
PROVISION  SUBSTANTIALLY LIMITS OR AFFECTS YOUR RIGHTS. PLEASE READ IT 
CAREFULLY. NEITHER PARTY WILL NOT HAVE A RIGHT TO HAVE A JURY DECIDE 
ANY CLAIM OR DISPUTE AND THE ABILITY TO APPEAL IS LIMITED IN AN 
ARBITRATED MATTER. FURTHER NEITHER PARTY OR ANYONE ON THEIR BEHALF 
CAN PURSUE A CLAIM OR DISPUTE IN A CLASS OR REPRESENTATIVE ACTION.   

Arbitration is a method of deciding disputes outside the court system. The parties agree and understand 
that they choose arbitration instead of litigation to resolve all claims and disputes not specifically 
excluded.  This provision governs when and how any disputes you and we may have will be decided. All 
disputes, claims, or controversies arising from or relating in any way to the agreements, relationships, 
accounts, including any applications and prior relationships between you and us; the relationships which 
result or arise as a result of this Agreement; any rights, privileges or services you receive from us now or 
in the future; any claims or disputes arising in any bankruptcy or other insolvency proceeding specifically 
involving the parties' rights under their agreements, valuation of any collateral, the validity or 
enforceability of any security interest (including any interest by way of cross-collateralization or a pledge 
of shares), or  any ancillary proceedings that are not exclusively within the jurisdiction of the United 
States Bankruptcy Courts; or the validity of this clause (together referred to collectively as Agreement), 
shall be resolved by binding arbitration by a single arbitrator chosen with the consent of  both parties. The 
arbitrator must be an attorney with more than ten (10) years experience or a retired judge. If for any 
reason the parties do not consent to an arbitrator within thirty (30) days from the date that notice of a 
claim or intent to arbitrate is provided to the other party, then an arbitrator will be selected pursuant to the 
Rules of the American Arbitration Association ("AAA"). This arbitration Agreement is made pursuant to 
a transaction in Interstate Commerce, and shall be governed by the Federal Arbitration Act ("FAA") at 9 
USC § 1, et seq., as amended from time to time. It is understood and agreed that this Cardholder 
Agreement, your Account, all transactions on this Account, and any dispute defined herein shall involve 
Interstate Commerce.  If any dispute between us does not involve Interstate Commerce, such dispute shall 
be governed by the South Carolina Uniform Arbitration Act at S.C. Code §15-48-10, et seq., as amended 
from time to time, in which case all references to the FAA  herein shall be to said State Act.  The parties 
agree and understand that the arbitrator shall have all power provided by the law and this Agreement to 
make and enter findings of fact and determination of judgment based on the parties' Agreements and 
applicable law, including but not limited to the rights of possession, off-set, property rights, money 
damages, declaratory relief, and injunctive relief.  No arbitrator shall have the jurisdiction or authority to 
add to, take from, nullify or modify any of the terms the Agreement.  The arbitrator shall be bound by the 
facts and evidence submitted to him.  Arbitration will be subject to the rules of procedure and evidence 

 
 
 
consistent with the Rules of the American Arbitration Act, and the Arbitrator will not apply federal or 
state rules. The decision of the arbitrator shall be final and binding and may be enforced in accordance 
with the terms of either the Federal or applicable State Law, except for any specific appeal right regarding 
a judgment under the FAA or a judgment for more than $100,000. For these judgments, any party may 
appeal to a three-arbitrator panel appointed by and under the rules of the AAA. The decision of the panel 
will be by majority vote and will be final and binding except for any specific appeal right under the FAA. 
All provisions of this Arbitration Agreement will apply to the panel. Judgment upon the award rendered 
may be entered in any court having jurisdiction.     

THE PARTIES AGREE AND UNDERSTAND THAT ALL DISPUTES (INCLUDING ALL 
LEGAL AND EQUITABLE RIGHTS AND REMEDIES) ARISING UNDER CASE LAW, 
STATUTORY LAW, AND ALL OTHER LAWS INCLUDING, BUT NOT LIMITED TO, ALL 
CONTRACT, TORT, REGULATORY, AND PROPERTY DISPUTES WILL BE SUBJECT TO 
BINDING ARBITRATION IN ACCORD WITH THIS AGREEMENT.  Notwithstanding anything 
hereunto the contrary, the Credit Union retains an option to use judicial or non-judicial relief to enforce a 
security agreement relating to any collateral pledged to secure the Agreements between the parties, to 
enforce all monetary obligations by you to the Credit Union so long as there is no dispute, or to foreclose 
on any collateral securing your obligations to us by way of replevin, claim and delivery, or otherwise.  
The initiation and maintenance of an action for judicial relief in a court [on the foregoing terms] shall not 
constitute a waiver of the right of any party to compel arbitration regarding any other dispute or remedy 
subject to arbitration in this Agreement, including the filing of a counterclaim in a suit brought by the 
Credit Union pursuant to this provision.   

Any arbitration proceeding will take place in the federal judicial circuit where you live. If you cannot 
afford to pay the fees charged by the Arbitrator or any panel for an appeal as provided herein, we will 
consider any reasonable written request by you for us to pay the fees. We will pay any fees or costs 
specifically required by applicable law. However, each party must bear the expense of that party's 
attorneys, experts, and witnesses, regardless of who wins the arbitration, except to the extent that 
applicable law specifically requires otherwise. The rules of the AAA will be applied to any arbitration 
between the parties, except in the event of any inconsistency between this Agreement and the rules of the 
AAA, in which case this Agreement will govern.  

Payments 
You will be jointly and severally liable and agree to pay the Credit Union for all charges (purchases, cash 
advances, finance charges, and other charges added to your Account under the terms of this or any other 
agreements with us) extended to you or anyone else using a Card issued for your Account, unless the use 
of such Card is by a person other than you who does not have actual, implied or apparent authority for 
such use and from which you receive no benefit. Authority includes, but is not limited to, any authorized 
users permitting another person to use any Card(s).  Further, all users are obligated to us for all charges 
they make, authorize or permit. 

The Credit Union can accept late or partial payments, as well as payments that are marked with “paid in 
full” or other restrictive endorsements, without losing any of our rights under this Agreement. If you pay 
more than the Minimum Payment Due, we will allocate the excess amount to your account balance at our 

 
 
 
  
discretion. You must pay the Credit Union in U.S. dollars drawn on funds on deposit in the United States. 
If you make payment with other currencies or from an institution domiciled outside the United States, 
then your payment will not be credited until the funds have been collected by us in U.S. dollars. The 
Credit Union will determine the method of applying payments and credits to your account.  Payments will 
be applied in the following order: finance charges fees; minimum payment; balance. We may accept 
checks marked “Payment in Full” or with words of similar effect without losing any right to collect the 
full balance of your account.  

You will make payments by mail directed to the following address: Palmetto Citizens FCU, P.O. Box 
4519, Carol Stream, IL, 60197-4519 or you may make payments in person to a service center of Palmetto 
Citizens Federal Credit Union. If the Credit Union receives a payment by mail by 9:00 a.m., the Member 
will receive credit that day; payment received after 9:00 a.m. will be applied to the next day’s business. 
Payments made in any other manner, including in person, will be deemed received on the next business 
day following receipt.  

You authorize us to honor any purchase or cash advance you make by telephone or mail on this account. 
You agree that a signature is not necessary as identification in such cases. We reserve the right to refuse 
to honor any request for credit, to reduce your credit limit or terminate your account at any time using our 
sole discretion, based on changes in the economy, the Credit Union’s financial condition, your 
creditworthiness or for any other reason not prohibited by law. 

Maximum Credit Limit 
Your maximum credit limit will appear on the folder in which you receive your Card and on your 
monthly statement. At our discretion, we may change your credit limit at any time, and may provide 
separate limits for purchases and for cash advances. The Credit Union will notify you if we do, either by 
mail or through your monthly billing statement. You may request a change to your credit limit by 
contacting the Credit Union by telephone or mail. Your continued use of the Card will show your 
agreement to any such increase. If you object to an increase in your credit limit, you must notify the 
Credit Union in writing.  Upon receipt of such notice, your credit limit will be reduced to its prior limit; 
however, you will be responsible to pay any amounts you have exceeded the reduced limit.  

You agree we are not obligated to extend to you credit for any amount that would cause your outstanding 
balance to exceed your maximum credit limit, or for any amount if your outstanding balance already 
exceeds your maximum credit limit. Any increase in your maximum credit limit you request will require 
you to make a written application for our approval. You agree to pay any amounts you owe that exceed 
your maximum credit balance upon demand.   

Credit balances in excess of $1.00 will be refunded to you after collection as provided herein by crediting 
your share account or by mailing a check to the address to which statements are provided to the order of 
any cardholder. You agree that the Maximum Credit Limit will at no time exceed the agreed upon 
amount, and that any credit balance will not be available  or increase the Maximum Credit Limit available 
for new purchases or cash advances during any billing cycle. 

ATM Access (if service is available) 

 
 
 
 
 
  
If you have received a personal identification number (PIN), you may use your Card and PIN to obtain 
cash advances at any Automated Teller Machine (“ATM”) that accepts your Card. Your PIN is 
confidential and should not be disclosed to anyone. You agree not to write your PIN on your Card, you 
will not keep your Card and PIN together, and you will not provide your PIN to anyone who is not an 
authorized user. Except as otherwise provided in this Agreement, advances through ATM access will be 
treated as cash advances under this Agreement. Advances at authorized ATMs are limited to a total of 
$510.00 during any 24-hour period. The total of all cash advances on your Visa Account and any 
withdrawals from your other accounts through an ATM in any 24-hour period may be combined for the 
purpose of this limitation. 

Monthly Statement 
The Credit Union will send you a monthly billing statement whenever there is activity on your account. 
Your monthly statement will show an itemized list of current charges (purchases and cash advances) and 
Convenience Check transactions to your account, your new balance, any Finance Charges, the minimum 
payment due, and the payment due date. In addition, it will show your current credit limit, payments and 
credits, a summary showing your purchases and cash advances, the merchant, electronic terminal or 
financial institution at which transactions were made, as well as other information concerning your 
account. Sales, Cash Advance, Credit or other slips cannot be returned with any statement. You will retain 
a copy of such slip furnished at the time of the transaction in order to verify your monthly statement.  

Finance Charges on Account Balance 
A FINANCE CHARGE computed on a monthly periodic rate (“MPR”) will begin to accrue for new 
purchases if you do not pay the New Balance in full within 25 days after the billing date of the statement 
on which the new purchases first appear. A FINANCE CHARGE computed on a monthly periodic rate 
(“MPR”) will begin to accrue on the transaction date of cash advance(s) or purchases (except as provided 
above), or the first day of the billing cycle, whichever is later, and will continue to be imposed until you 
have paid any outstanding balance in full. The Credit Union calculates the FINANCE CHARGE as 
follows. 

a. The FINANCE CHARGES for a billing cycle are computed by applying the monthly periodic 
rate of your account, indicated in this booklet, to the average daily balance of purchases and cash 
advances, which is determined by dividing the sum of the daily balances during the billing cycle 
by the number of days in the cycle. The monthly periodic rate and ANNUAL PERCENTAGE 
RATE (APR) to be used is determined by the account applied for or approved by us pursuant to 
the terms of your application. 

b. To get the total average daily balance on your account, we take the beginning balance of your 
account each day, add any new purchases and cash advances, unpaid finance charges, current late 
payment fees, and other fees, and subtract any payments or credits. This is your daily balance. 
Then we add up all the daily balances for the billing cycle and divide their total by the number of 
days in the billing cycle. This gives you the average daily balance. This determines the balance 
subject to the FINANCE CHARGE. 

 
 
 
 
Charges Made in Foreign Currencies 
If you incur a charge (a purchase or cash advance) in a foreign currency, the charge will be converted into 
a U.S. dollar amount in accordance with the operating regulations of Visa International in effect at the 
time that the transaction is processed. Currently, those Regulations provide that the currency conversion 
rate to be used is either: (a) a wholesale market rate; or (b) a government-mandated rate in effect one day 
prior to the processing date, increased by one percent in each case. Visa retains this one percent as 
compensation for performing the currency conversion service. The currency conversion rate in effect on 
the processing date may differ from the rate in effect on the transaction date or the posting date. 

Cross-Border Transaction Fee 
A Cross-Border Assessment of 1% on each transaction on all cross border transactions when Visa must 
convert a purchase made outside the United States to U.S. dollars for posting. A Cross-Border 
Assessment fee of 0.8% is made when a US cardholder makes a transaction in a foreign country, and the 
merchant accepts the transaction in US currency rather than the currency of their country. The Credit 
Union will assess these fees to you to reimburse it for the fee it is required to pay for each of your 
transactions subject to these terms. The Cross-Border transaction fee will be shown separately on your 
periodic statement.  

Minimum Payment Due 
You can pay off your account balance in full each month or you can pay in monthly installments. If you 
do not pay your balance in full, you agree to pay at least a minimum payment of 2% of your New Balance 
(rounded to the nearest whole dollar) or $25.00, whichever is greater. If the New Balance shown on your 
periodic statement is $25.00 or less, you agree to pay this amount. Unless the Credit Union takes other 
action as a result of a default under this Agreement, the Minimum Payment Due will also include any 
amount that is past due and any amount by which your new balance exceeds your credit limit. Payments 
and credits will be applied first to pay fees, then finance charges, purchases and cash advances. You must 
pay at least the minimum payment each month, but you may pay more than that amount at any time 
without a penalty. The sooner you pay your new balance, the less you have to pay in finance charges. 

Returns and Adjustments 
Merchants and others who honor your 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. 

Additional Benefits/Card Enhancements 
The Credit Union may from time to time offer additional services to your account, such as travel accident 
insurance, purchase rewards or rebates at no additional cost to you. You understand that the Credit Union 
is not obligated to continue or to offer such services and may withdraw or change them at any time. 

Merchant Disputes 
The Credit Union is not responsible for the refusal of any merchant or financial institution to honor your 
Card except as set forth in the Special Rules for Credit Card Purchases set forth at the end of this 
Agreement.  

 
 
 
 
 
Skip Payment Option 
At our option, we may not require you to make a minimum payment during certain designated billing 
cycles (“skip payment period”). If you do not make your minimum payments as provided in this 
Agreement, during such designated billing cycles, you understand that we will continue to apply finance 
charges to your account. Beginning with the billing cycle following an allowed skip payment period, all 
other provisions of the Agreement will apply.  

Exceeding Your Credit Limit Fee 
The Credit Union will charge your account an over the credit limit fee of $15.00 for each billing period in 
which your new balance exceeds your credit limit if the balance exceeds your credit limit by more than 
10% per monthly billing cycle. This fee may be added to your account balance, or collected from you on 
demand.  

Late Payment Fee 
The Credit Union will charge your account a late fee of 5% of the scheduled payment for each billing 
period in which your minimum payment is not received within ten (10) days of your payment due date, 
with a $25.00 maximum per month or such other amount allowed by applicable law if less than the 
amounts set forth herein. This fee may be added to your account balance, or collected from you on 
demand.  

Returned Payment or Insufficient Funds Fee 
The Credit Union will charge your account a $24.00 fee if your payment is made by check, or otherwise 
and is not honored, collected by us, or if we must return it to you because it cannot be processed for any 
reason. This fee may be added to your account balance or collected from you on demand.  If that item is 
drawn on a Credit Union account, a non-sufficient funds charge of $24.00 will be charged.  

Charge for Copies  
If you ask for a copy of any document, such as a sales slip, Convenience Check, or billing statement, a 
charge of $20.00 per hour may be imposed for the time it takes to research and locate the document. In 
addition, a statement copy fee of $3.00 per copy will be imposed. However, no charge will be imposed in 
connection with any actual or asserted billing error.  

Convenience Checks 
You can use your Convenience Checks to purchase goods and services or to obtain cash up to the amount 
of your available credit limit unless that amount will cause you to exceed your credit limit. The Credit 
Union will treat Convenience Checks as cash advances and will charge them against your credit limit. 
The Credit Union may decline to honor a Convenience Check if you are over your credit limit, you are in 
default, your account privileges have been canceled, or your Card has expired. If we decline to honor a 
Convenience Check, the credit union will charge you a fee of up to $20.00, which the credit union will 
add to your account balance. Convenience Checks may be used only by the person whose name is printed 
on them. You may not use Convenience Checks to pay any amount which you owe the Credit Union 
under this or any other credit agreement with the Credit Union. The Credit Union will not certify any 
Convenience Checks, nor will the Credit Union return paid Convenience Checks to you. It is in the Credit 

 
 
 
 
 
 
Union’s sole discretion to issue Convenience Checks to any member.  

Stop Payment 
You may stop payment on a Convenience Check by notifying the Credit Union in writing at the address 
shown on your monthly statement or by calling the Credit Union at the telephone number shown on your 
monthly statement. If you call, you must confirm the call in writing within fourteen (14) days. A written 
stop payment order or written confirmation of an oral stop payment order will remain in effect for six (6) 
months unless renewed in writing. The Credit Union will charge your account a $4.50 fee when you stop 
payment on a Convenience Check.  

Your Responsibility and Liability for Unauthorized Use and Lost or Stolen Cards or Convenience 
Checks 
If your Card or Convenience Checks are lost or stolen, or if you are afraid someone used or may use them 
without your permission, you must notify the Credit Union at once by calling (800) 435-5626, or 
providing written notice to: Palmetto Citizens Federal Credit Union, P.O. Box 11407, Columbia, SC 
29211. If notice is given orally, you will promptly confirm it in writing. The Credit Union may require 
you to provide us certain information in writing to help us investigate any unauthorized use. Do not use 
the Card or the Convenience Checks after you have notified the Credit Union, even if you find them or 
have them returned to you.   

You are liable for all transactions that you authorize.  No Liability: You will have no liability for 
unauthorized use of your Card, Convenience Checks or other Access Devices for non-ATM transactions 
made over the Visa Network if the following conditions are met: (1) You have not been grossly negligent; 
and (2) You have not committed, participated in or conspired to commit any fraudulent act or scheme 
involving the use of your Visa credit card account.   Limited Liability:  For transactions on other networks 
or ATM transactions,  you may be liable for unauthorized transactions using your Card, Convenience 
Checks or other Access Devices  that occur before we are notified.  However, your liability for 
unauthorized use on networks other than Visa will not exceed $50.00.  In any case, you will not be liable 
for any unauthorized use after notifying us of the loss, theft or unauthorized use of your Card, 
Convenience Checks or other Access Devices.  

Illegal Transactions 
You warrant and agree that your Credit Card, other access device or any related account will not be used 
to make or facilitate any illegal transaction(s) as determined by applicable law; and that any such use, 
including any such authorized use, will constitute an event of default under this Agreement.  The Credit 
Union may decline to accept, process or pay any transaction that we believe to be illegal or unenforceable 
(regarding your obligation to pay us) under applicable law, including but not limited to any transaction 
involving or relating to any gambling activity. You agree that the Credit Union will not have any liability, 
responsibility or culpability whatsoever for any such use by you or any authorized user(s); or for 
declining to accept, process, or pay any such transaction.  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. 

Default 

 
 
 
 
 
You will be in default if: (a) you fail to pay the Minimum Payment Due by the Payment Due Date; (b) the 
Credit Union, in its sole discretion, feels insecure (For example:  Our good faith belief that your ability to 
pay your account is impaired; use of your account in any manner or in any way that may expose the 
Credit Union to a risk of loss; etc.); (c) your ability to repay is materially reduced by a change in your 
employment, by an increase in your obligations, by bankruptcy or insolvency proceedings involving you, 
by your death, or (for community property state residents only) by a change in marital status or domicile; 
(d) you exceed your credit limit without our permission; (e) you have made a false or misleading 
statement to us in your application or otherwise; (f) you are in default under any other agreement with us; 
(g) if you use or authorize the use of any Card(s) to make or facilitate any illegal transaction; or (h) you 
fail to perform any of your other obligations under the terms of this Agreement as it may be amended 
from time to time.  Upon default we may close your Account to future purchases and advances and, to the 
extent not prohibited by Governing Law, demand immediate payment of your entire Account balance, 
after giving you any notice and opportunity to cure the default if required by applicable law.  The Credit 
Union's sole obligation hereunder with regard to determining and declaring an event of default is the 
exercise of "good faith," based on its subjective understanding of applicable facts.    

Collection Costs 
You agree to pay all costs incurred by the Credit Union in collecting any amounts you owe or in 
enforcing or protecting the Credit Union’s rights under this Agreement, including attorneys’ fees of 20% 
of the unpaid balance or such greater sum as may be reasonable, and also those costs, expenses and 
attorney’s fees incurred in any appellate, bankruptcy and post-judgment proceedings, except as limited or 
prohibited by applicable law.  

Updating and Disclosing Financial Information 
The Credit Union may report your performance under this Agreement to credit reporting agencies and 
secure follow-up credit reports on you for any legitimate business reason, including if you fail to make 
your minimum payments on time. We can reinvestigate and reevaluate any information you provide on 
your Visa Application at any time, and in the course of doing so we may ask you to provide additional 
information, request credit bureau reports and/or otherwise verify your current credit standing. We 
reserve the right to provide our accountants with information regarding your account in conjunction with 
the annual credit union audit.  

Access to Account Information: You agree that all borrowers and authorized users will have access to 
information regarding transactions on your account, including but not limited to purchases and cash 
advances, account balances, account history, payments and other information relating to or arising with 
regard to this account or any transaction. 

Correcting the Credit Union’s Credit Report 
If you think the Credit Union reported erroneous information about you to a credit reporting agency, call 
the Credit Union at the telephone number listed on your monthly billing statement. The Credit Union will 
promptly investigate the matter. The Credit Union will contact each credit reporting agency whose 
records may reflect an error. The Credit Union will require them to correct your report if its investigation 
decides that you were correct. If the Credit Union disagrees with you after the investigation, the Credit 
Union will advise you, in writing or by phone, and instruct you how to submit to those agencies a 

 
 
 
 
statement of your position that will become a part of your credit record with them. The instructions will 
include the name, address, and phone number of each such agency, along with other pertinent 
information.  

Closing Your Account 
Any individual cardholder without the consent of other cardholders may close your Account at any time 
by notifying the Credit Union in writing. Credit Union may close your account or suspend your Card 
privileges or Convenience Checks at any time without prior notice. Credit Union may also reissue a 
different Card or different checks at any time.  You must return the Card or the Convenience Checks to 
the Credit Union upon request.  You agree that the Card and all Convenience Checks remain the property 
of the Credit Union. Each Card we issue will have an expiration date.  Upon expiration of your Card your 
account will automatically terminate; or the Credit Union, in its sole discretion, may extend your 
Agreement and issue a new card with a new expiration date.  If you account is closed, expires or your 
credit privileges are terminated or suspended, you will remain responsible for paying all amounts you owe 
us according to the terms of this Agreement. Without limiting the foregoing, the Credit Union has the 
right to terminate your line of credit and to demand the return of all cards, access checks and other access 
devices if the Credit Union, in its sole discretion, feels that it is insecure for any reason whatsoever; 
including but not limited to mismanagement of your account, failing to safeguard any access device, 
creation of any credit balances by you that may increase the risk of loss or exposure of the Credit Union 
or failing to cooperate with the Credit Union or others with regard to any claim of unauthorized use or 
any other defense to payment under applicable law.  

Changing This Agreement 
The Credit Union may change the terms of this Agreement, including the Annual Percentage Rate, at any 
time. Except where limited by applicable law, the new terms, including, but not limited to, increasing the 
finance charge or the way the Credit Union calculates finance charges, late charges, and the minimum 
payment due, will apply both to new purchases and cash advances and to the existing outstanding balance 
of your account as of the day of the change. In accordance with applicable law, the Credit Union will 
notify you of any increased charge or change by writing to you at the most recent address shown for you 
on the Credit Union’s records.  

Delay in Enforcement/Waivers 
The Credit Union may delay or waive enforcement of any of the provisions of the Agreement, including 
any agreement to make timely payments, without losing its right to enforce the same provision later or 
any other provisions of this Agreement. You waive the right to receive notice of any waiver or delay or 
presentment, demand, protest or dishonor. You also waive any applicable statue of limitations to the full 
extent permitted by law and any right you may otherwise have to require the Credit Union to proceed 
against any person before suing you to collect. You understand that the Credit Union will not be liable for 
a merchant’s or other parties’ refusal to honor your Card whether due to an error by the Credit Union, the 
merchant, the Credit Union’s authorized agent, or other third party. 

Change of Name, Address or Telephone Number 
You will immediately notify the Credit Union in writing if you change your name, home address, home or 
business telephone number or employment change. 

 
 
 
 
Pledge of Shares and Security Interest 

BY SIGNING AN APPLICATION ACCEPTANCE OR AUTHORIZED USE OF ANY 
CREDIT CARDS, YOU GRANT AND PLEDGE A CONSENSUAL LIEN TO US ON ALL 
SHARES TO SECURE PAYMENT OF YOUR OBLIGATIONS ON THIS ACCOUNT.  IN 
ADDITION, YOU ACKNOWLEDGE OUR STATUTORY LIEN RIGHTS UNDER THE 
FEDERAL CREDIT UNION ACT; YOU AGREE THAT SUCH A LIEN IS IMPRESSED 
AS OF THE DATE THAT THIS ACCOUNT IS OPENED; AND YOU AGREE THAT WE 
CAN APPLY THE SHARES PLEDGED AT THE TIME OF ANY DEFAULT ON THIS 
ACCOUNT WITHOUT FURTHER NOTICE. “Shares” for the purpose of your pledge to 
secure your obligations to the credit union means all deposits in any share savings, share draft, 
club, certificate, P.O.D., revocable trust or custodial account(s), whether jointly or individually 
held—regardless of contributions, that you have on deposit now or in the future.  Your pledge 
does not include any I.R.A., Keogh, tax escrow, irrevocable trust or fiduciary account in which 
you do not have a vested ownership interest. 

Security Interest 
Payments on your account are secured by any security interest in any property securing your other 
obligations to the Credit Union, whether existing now or in the future, except your household goods and 
your primary residence. Further, you hereby grant the Credit Union security interest in all property 
purchased through this credit plan, including a purchase-money security interest in any household goods 
purchased with an extension of credit upon the account. These security interests shall secure faithful 
performance of all obligations arising under this Agreement; and the Credit Union shall have all of the 
rights of a secured party in accordance with the South Carolina Commercial Code and other applicable 
law. 

Additional Terms of Visa‚ Agreement 
To the extent not prohibited by applicable law, the terms, interpretation and enforcement of any claim or 
dispute arising under this Agreement, as well as all parties’ rights and duties, will be governed by South 
Carolina law regardless as to where you may reside or use your account. Further, this Agreement is the 
contract which governs all transactions on your account even though sales, cash advances, credit or other 
slips may contain different terms. You may not transfer or assign your account or Card to any other 
person. The Credit Union may assign or transfer this account, your account balance, or this Agreement to 
another person, who will have all of our rights hereunder. This Agreement is binding on your heirs and 
legal representatives. If there are joint obligors or authorized users for this credit plan, each of you will 
have the right to use the account to obtain loans pursuant to the terms hereof. Each of you will be liable 
for all obligations owing on the account whether borrowed by you or otherwise and whether within or 
beyond the credit limit. Your liability will be joint and several. Either party has the right to cancel this 
Agreement. Further each of you is responsible for all amounts borrowed by any authorized user(s). 
Authorized users and other users may also be required to repay the amount owed for charges they make; 
however, you remain, at all times, primarily responsible for all amounts owed. All Cards, billing 
statements and notices will be mailed or delivered to the address given on the application for either 

 
 
 
 
applicant unless you direct otherwise in writing. If any law or judicial ruling makes any part, provision, 
sentence or section of this Agreement unenforceable, the remainder will continue in full force and effect. 
You agree that your account will also be subject to all rules and regulations of Visa U.S.A., Inc., as 
applicable. If there is any conflict between this Agreement and the rules and regulations of Visa U.S.A., 
Inc., the rules and regulations of Visa U.S.A., Inc. will control.  

Limitations of Lawsuits 
You agree that any lawsuit based on a cause of action against us must be filed within one year from the 
date it arises, or you shall be barred from filing any lawsuit. This limitation includes tort, contract and all 
other causes of action for which you and we may lawfully contract to limit as set forth in the Agreement.  

Insurance 
If you elect insurance, as set forth in your Application, then the charges will be added to your account on 
each billing cycle, if insurance application is approved. Credit insurance is voluntary and not required to 
obtain a credit card with us. You have a right to terminate this insurance at anytime by notifying us in 
writing. Insurance coverage is written by CUNA Mutual Insurance. 

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. 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 of paper) at the address listed on your bill. Write to us as soon as possible. We must 
hear from you no later than 60 days after we sent you the first bill on which the error or problem 
appeared. You can telephone us, but doing so will not preserve your rights. In your letter, give us the 
following information:  

- Your name and account number 
- The dollar amount of the suspected error 
- Describe the error and explain, if you can, why you believe there is an error. 

If you have authorized us to pay your credit card bill automatically from your savings or checking 
account, you can stop the payment from occurring by contacting the credit union in writing. To stop the 
payment, your letter must reach us three 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 thirty days, unless we have corrected the error by then. Within 
ninety days, we must either correct the error or explain why we believe the bill was 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 bill that are not in question.  

If we find that we made a mistake on your bill, you will not have to pay any finance charges related to the 
questioned amount. If we didn’t 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 think you owe, we 
may report you as delinquent. However, if our explanation does not satisfy you and you write us within 
25 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 we don’t follow these rules, we cannot collect the first $50.00 of the questioned amount, even if your 
bill was correct.  

SPECIAL RULES FOR CREDIT CARD PURCHASES 

If you have a problem with the quality of property or services that you purchase 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;  

(b) 

The purchase price must have been more than $50.00.  

These limitations do not apply if we own or operate the merchant, or if we mailed you the advertisement 
for the property or services. Further, the Credit Union has no liability for any tort or related claims arising 
from such purchases.