Credit Card
Agreement
and Truth-
in-Lending
Disclosure

24-Hour Loan Center: 866.933.6333

MichiganFirst.com

Federally insured by the
National Credit Union Administration.

Revised 06/2021 SLIMF150

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To use this right, all of the following must be true:

1. The  purchase  must  have  been  made  in  your  home
state or within 100 miles of your current mailing address, 
and  the  purchase  price  must  have  been  more  than  $50.
(Note:  Neither  of  these  are  necessary  if  your  purchase 
was based on an advertisement we mailed to you, or if we 
own the company that sold you the goods or services.)

2. You  must  have  used  your  credit  card  for  the
purchase.  Purchases  made  with  cash  advances  from  an 
ATM  or  with  a  check  that  accesses  your  credit  card 
account do not qualify.

3. You must not yet have fully paid for the purchase.

If  all  of  the  criteria  above  are  met  and  you  are  still 
dissatisfied  with  the  purchase,  contact  us  in  writing  [or 
electronically] at:

Michigan First Credit Union
27000 Evergreen Road
Lathrup Village, MI  48076

While  we  investigate,  the  same  rules  apply  to  the
disputed amount as discussed above. After we finish our
investigation, we will tell you our decision. At that point,
if we think you owe an amount and you do not pay, we
may report you as delinquent.

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What Will Happen After We Receive Your Letter

When we receive your letter, we must do two things:

1. Within 30 days of receiving your letter, we must tell 
you that we received your letter. We will also tell you if 
we have already corrected the error.

2. Within  90  days  of  receiving  your  letter,  we  must
either correct the error or explain to you why we believe 
the bill is correct.

While we investigate whether or not there has been an 
error:

• We  cannot  try  to  collect  the  amount  in  question,  or

•

•

report you as delinquent on that amount.
The  charge  in  question  may  remain  on  your
statement,  and  we  may  continue  to  charge  you 
interest on that amount.

While you do not have to pay the amount in question, 
you  are  responsible  for  the  remainder  of  your
balance.

• We can apply any unpaid amount against your credit 

limit.

• After  we  finish  our  investigation,  one  of  two  things

will happen:

• If we made a mistake: You will not have to pay the 
amount  in  question  or  any  interest  or  other  fees
related to that amount.

• If  we  do  not  believe  there  was  a  mistake: You  will 
have  to  pay  the  amount  in  question,  along  with 
applicable  interest  and  fees.  We  will  send  you  a 
statement  of  the  amount  you  owe  and  the  date 
payment  is  due.  We  may  then  report  you  as 
delinquent if you do not pay the amount we think you
owe. 

If you receive our explanation but still believe your bill is 
wrong, you must write to us within 10 days telling us that 
you still refuse to pay. If you do so, we cannot report you 
as  delinquent  without  also  reporting  that  you  are 
questioning  your  bill.  We  must  tell  you  the  name  of 
anyone to whom we reported you as delinquent, and we 
must let those organizations know when the matter has 
been settled between us. 

If we do not follow all of the rules above, you do not 
have to pay the first $50 of the amount you question even 
if your bill is correct.

Your Rights If You Are Dissatisfied With Your 
Credit Card Purchases

If you are dissatisfied with the goods or services that you 
have purchased with your credit card, and you have tried 
in good faith to correct the problem with the merchant, 
you may have the right not to pay the remaining amount 
due on the purchase.

MICHIGAN FIRST CREDIT UNION

CREDIT CARD AGREEMENT 
AND TRUTH-IN-LENDING DISCLOSURE
THIS  IS  YOUR  AGREEMENT  WITH  MICHIGAN
FIRST CREDIT UNION (CREDIT UNION) REGARDING
RIGHTS  AND  RESPONSIBILITIES  ASSOCIATED
WITH  OBTAINING  A  VISA® CREDIT  CARD.  THE
DISCLOSURE  STATEMENTS  THAT  FOLLOW
ARE  REQUIRED  BY  FEDERAL  REGULATIONS,
INCLUDING  THE  TRUTH  IN  LENDING  AND  FAIR
CREDIT  BILLING  ACTS.  PLEASE  READ  THIS
DISCLOSURE  CAREFULLY  TO  BE  FAMILIAR  WITH
YOUR  RIGHTS  AND  RESPONSIBILITIES.  IT  IS
IMPORTANT TO RETAIN THIS NOTICE FOR FUTURE
REFERENCE AND  TO  NOTIFY  US AT  ONCE  IF ANY
PARTS ARE UNCLEAR.

1. WORDS  OFTEN  USED  IN  THIS  AGREEMENT.
The  word  “Agreement”  means  this  Michigan  First  Credit
Union  Credit  Card  Agreement  and  Truth-in-Lending
Disclosure  and  the  document  provided  to  you  along  with
this  agreement  and  disclosure  containing  Credit  Card
Account Opening Disclosures and information concerning
How Your Annual Percentage Rate is Determined. In this
Agreement, the words “you” and “your” mean or refer to
each  and  all  persons  who  have  applied  for  the  Card  or
Cards.  “Card”  means  the  Visa  Credit  Card  or  Cards,  and
any  duplicates  and  renewals  thereof,  or  substitutions
thereof, we may issue to you. “Account” means your Visa
Credit Card line of credit loan account with us. “We,” “us”
and “ours” means or refers to Michigan First Credit Union
and  the  document  provided  to  you  along  with  this
agreement and disclosure containing Credit Card Account
Opening  Disclosures  and  information  concerning  How
Your Annual Percentage Rate is Determined. 

2.  THIS  IS  YOUR  CONTRACT  WITH  US.  Once  this
Agreement  is  sent  to  you,  it  becomes  a  binding  contract.
When you (i) signed a paper application for your Account, (ii)
completed  an  on-line  application  for  your  account,  (iii)
applied for your Account by calling our Call Center, or (iv)
applied for your account in person with one of our Financial
Sales  Representatives,  you  acknowledged  that  you  would
receive a copy of this Agreement and promised to abide by
the  terms  of  this Agreement,  including  all  applicable  laws.
This Agreement is a Truth-In-Lending Disclosure Statement
as well as a contract.

3. SIGN THE CARD. Your Card(s) have been embossed
as you have directed. Each Card must be signed (in the space
provided on the back) by the person whose name is embossed
thereon. That signature must be in the same form as embossed
on the front of the Card. However, your liability under this
Agreement does not depend on whether you sign your Card.
4. USING  THE  CARD.  By  using  this  Card,  you  are
agreeing  to  comply  with  the  terms  of  this Agreement. To
make  a  Purchase  or  Cash Advance,  present  the  Card  to  a
participating Visa plan merchant or financial institution and
sign the sales draft or cash advance draft (when required)
which will be imprinted with your Card or generated after
your  Card’s  number  has  been  magnetically  read  or
otherwise provided. Please note that we are not responsible

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if a particular Visa plan merchant or financial institution
refuses to honor your Card. You can receive a copy of any
if a particular Visa plan merchant or financial institution 
draft you sign or a corresponding transaction slip when
refuses  to  honor  your  Card.  You  can  receive  a  copy  of 
using the Card. You should retain all such items to verify
any  draft  you  sign  or  a  corresponding  transaction  slip 
your monthly statement. We will upon request furnish you
when using the Card. You should retain all such items to 
with a copy of a draft for a charge per copy; however,
verify  your  monthly  statement.  You  may  use  your  Card 
there will be no charge in cases involving error resolution.
to  make  purchases  and  cash  advances  primarily  for 
You may use your Card to make purchases and cash
personal, family, or household purposes. In addition, you 
advances primarily for personal, family, or household
may obtain cash advances from the Credit Union or from 
purposes. In addition, you may obtain cash advances from
other  financial  institutions  that  accept  Visa  Cards  or 
the Credit Union or from other financial institutions that
ATMs  that  accept  Visa  Cards.  Whenever  you  request  a 
accept Visa Cards or ATMs that accept Visa Cards.
transaction, you may be required to prove your identity. 
Whenever you request a transaction, you may be required
When  the  amount  advanced  appears  on  a  subsequent 
to prove your identity. When the amount advanced
statement,  that  statement  reference  will  be  conclusive 
appears on a subsequent statement,
that statement
evidence of the request. To obtain an advance at an ATM 
reference will be conclusive evidence of the request. To
you  must  use  a  Personal  Identification  Number  (PIN) 
obtain an advance at an ATM you must use a Personal
that was issued for use with the Card.
Identification Number (PIN) that was issued for use with
the Card.

5. ILLEGAL TRANSACTIONS. You agree that you
will only use your Account for transactions that are legal 
where you reside. Display of a payment card logo by an 
online merchant does not mean that the transaction with 
that merchant is legal where you reside. You agree not to 
use your Card for any illegal transactions. We will not be 
liable if you engage in any illegal transactions.

5. ILLEGAL TRANSACTIONS. You agree that you
will only use your Account for transactions that are legal
where you reside. Display of a payment card logo by an on-
line merchant does not mean that the transaction with that
merchant is legal where you reside. You agree not to use
your Card for any illegal transactions. We will not be liable
if you engage in any illegal transactions.
6. PROMISE TO PAY. You promise to repay to us all
6. PROMISE TO PAY. You promise to repay to us all
debts and the FINANCE CHARGE thereon arising from 
debts and the FINANCE CHARGE thereon arising from
any  authorized  use  of  the  Card.  You  agree  not  to  let 
any authorized use of the Card. You agree not to let
someone  else  use  the  card  without  our  consent.  If  the 
someone else use the card without our consent. If the
application  was  signed  by  two  persons,  the  Account  is 
application was signed by two persons, the Account is
joint:  that  is,  each  of  you,  separately  and  jointly  with 
joint; that is, each of you, separately and jointly with each
each  other,  is  liable  for  all  debts  on  the  Account  and 
other, is liable for all debts on the Account and FINANCE
FINANCE CHARGE(S). Your obligation to pay all such 
CHARGE(S). Your obligation to pay all such debts and
debts  and  FINIANCE  CHARGE(S)  continues  even 
FINANCE CHARGE(S) continues even though an
though  an  agreement,  divorce  decree  or  other  court 
agreement, divorce decree or other court judgment to
judgment  to  which  we  are  not  a  party  may  direct  that 
which we are not a party may direct that only one of you,
only one of you, or some person other than you (or both 
or some person other than you (or both of you), must pay
such debts and FINANCE CHARGE.
of you), must pay such debs and FINANCE CHARGE.

7. CREDIT LINE. When we approved your application,
we established a self-replenishing line of credit for you and
notified you of the amount thereof (“credit limit”) in the
document your Card/s were attached to. That document is
hereby incorporated herein as part of this Agreement. You
agree not to let your Account Balance exceed such amount,
and you agree to pay us the total amount over the credit limit
upon our demand whether or not we authorized the
advance(s) which caused you to exceed your credit line.
Unless you are in default, each payment you make on the
Account will replenish your credit limit by the part of that
payment which is applied to principal. You may request an
increase in the credit limit by a written application, which
must be approved by us. We may increase or decrease the
limit from time to time or may, with good cause, revoke
your Card and terminate this Agreement; in either event, we
will give you written notice of such action. “Good Cause”
includes your failure to satisfy the terms of this Agreement
or our adverse reevaluation of your creditworthiness; in
either event, we will give you written notice of such action.
In the event your Account is cancelled or revoked due to
default, the balance at the time of default may be transferred
in-house with the Credit Union and, as a consequence

7. CREDIT LINE. When we approved your application,
we established a self-replenishing line of credit for you and
notified  you  of  the  amount  thereof  (“credit  limit”)  in  the
document your Card/s were attached to. That document is
hereby incorporated herein as part of this Agreement. You
agree not to let your Account Balance exceed such amount,
and you agree to pay us the total amount over the credit limit
upon  our  demand  whether  or  not  we  authorized  the
advance(s)  which  caused  you  to  exceed  your  credit  line.
Unless you are in default, each payment you make on the
Account will replenish your credit limit by the part of that
payment which is applied to principal. You may request an
increase in the credit limit by a written application, which
must be approved by us. We may increase or decrease the
limit  from  time  to  time  or  may,  with  good  cause,  revoke
your Card and terminate this Agreement; in either event, we
will give you written notice of such action. “Good Cause”
includes your failure to satisfy the terms of this Agreement
or  our  adverse  reevaluation  of  your  creditworthiness;  in
either event, we will give you written notice of such action.
In  the  event  your Account  is  cancelled  or  revoked  due  to
default, the balance at the time of default may be transferred
in-house  with  the  Credit  Union  and,  as  a  consequence
2

2

41. SEVERABILITY. If any provision of this Agreement 
is  determined  to  be  void  or  unenforceable  under  applicable 
law,  regulation,  or  rule,  all  other  provisions  of  this 
Agreement shall be valid and enforceable.

42. ENTIRE AGREEMENT/EFFECT OF AGREEMENT.
This Agreement, together with any application you signed or 
otherwise submitted in connection with the Account and any 
mailer/document sent to you with your Card (all of which are 
hereby  incorporated  by  reference  in  this  Agreement), 
constitutes the entire agreement between you and us relating 
to  your  Account,  supercedes  any  other  prior  or 
contemporaneous agreement between you  and  us  relating  to 
your Account, and applies to every transaction relating to the 
Account even though a sales or cash advance draft you sign 
or a credit slip may contain different terms. This Agreement 
may  not  be  amended  except  in  accordance  with  the 
provisions  of  this  Agreement.  You  further  acknowledge 
receipt of a copy of this Agreement.

43. CREDIT  UNION  MEMBERSHIP.  You  understand
and  agree  that  the  closing  of  your  Credit  Union  Regular 
Share Account  terminates  your  status  as  a  member  of  the 
Credit  Union,  and  upon  such  closing,  you  can  no  longer 
obtain credit with the Credit Union Visa Card.

The  following  is  important  information  regarding  your 
right to dispute billing errors.

      Your BILLING Rights –
Keep This NOTICE For Future Use
This  notice  tells  you  about  your  rights  and  our 
responsibilities under the Fair Credit Billing Act. What 
To Do If You Find A Mistake On Your Statement If you 
think there is an error on your statement, write to us at:

Michigan First Credit Union 
27000 Evergreen Road 
Lathrup Village, MI  48076

In your letter, give us the following information:

• Account  information:  Your  name  and  account 

number.

• Dollar  amount:  The  dollar  amount  of  the  suspected

error.

• Description of problem: If you think there is an error
on your bill, describe what you believe is wrong and
why you believe it is a mistake. 

You must contact us:

• Within  60  days  after  the  error  appeared  on  your

statement.

• At least 3 business days before an automated payment is 

scheduled,  if  you  want  to  stop  payment  on  the
amount you think is wrong.

You must notify us of any potential errors in writing. You 
may  call  us,  but  if  you  do  we  are  not  required  to 
investigate  any  potential  errors  and  you  may  have  to  pay 
the amount in question.

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34. SECURITY  INTEREST.  If  you  separately  signed
the  portion  of  your  application  for  this Account  dealing 
with  the  creation  of  a  security  interest,  you  grant  us  a 
security  interest  in  all  present  and  future  shares  and 
deposits you have with us, whether you own them singly 
or  own  them  jointly  but  have  the  right  to  withdraw  from 
them without the consent of another person not obligated 
on  the  account  to  secure  your Account.  This  grant  does 
not  apply  to  Individual  Retirement  Accounts  and  other 
accounts which provide tax benefits under state or federal 
laws.  Upon  default  under  this  Agreement  you  agree  that 
we  may  apply  all  of  your  shares  and  deposits  subject  to 
this  security  interest  to  pay  amounts  due  on  the  Account 
under  this  Agreement.  You  also  agree  to  grant  us  a 
security  interest 
than  collateral 
in  collateral  (other 
consisting of (i) real estate that is your principal residence 
and (ii) household goods) securing other loans with us to 
secure your Account.

35. BUSINESS  DAY.  Our  business  days  are  Monday
through  Friday.  Saturdays,  Sundays  and  federal  holidays 
are excluded.

to 

36.  GOVERNING  LAW.  The  Agreement  and  your
Account and any claim, dispute, or controversy arising from 
or  relating  to  this  Agreement  or  your  Account,  whether 
based on  contract,  tort,  fraud,  and  other  intentional  torts, 
statute,  common  law  and/or  equity,  are  governed  by  and 
construed  in  accordance  with  the  laws  of  the  State  of 
Michigan  (without  regard 
laws 
principles  or  rules)  and  applicable  federal  laws.  The 
this 
and 
legality, 
Agreement  and  the  amounts  contracted  for,  charged  and 
received under this Agreement will be governed by such 
laws. This Agreement is entered into between you and us 
in  the  State  of  Michigan,  and  we  make  credit  decisions 
under  this  Agreement  from  the  State  of  Michigan.  You 
further  consent  to  the  jurisdiction  and  venue  of  the  State 
or  Federal  Courts  having  jurisdiction  over  the  City  of 
Lathrup Village, Oakland County, Michigan.

interpretation  of 

its  conflicts  of 

enforceability 

37. ASSIGNMENT. We may sell, assign or transfer all
or any portion of your Account, or any balance due under 
your  Account,  without  prior  notice  to  you.  You  may  not 
sell,  assign  or  transfer  your  Account  or  any  obligations 
under this Agreement.

38. LOST/STOLEN  CARDS.  You  agree  to  notify  us
immediately  upon  discovering  that  your  Card  has  been 
lost  or  stolen  by  calling  us  at  866.820.2946 
or 800.664.3828.

39.

INFORMATION  ABOUT  YOU  AND  YOUR
ACCOUNT.  We  will  not  disclose  your  non-public 
personal information to unaffiliated third parties except as 
otherwise  permitted  or  authorized  by  law.  Please  refer 
to our Privacy Policy Notice for a full explanation of how 
we protect  your  information.  You  may  obtain  a  copy  of 
our Privacy Policy Notice by calling us at 800.664.3828.
40. BENEFITS AND PROGRAMS. We may from
time to time offer additional services to your Accounts or 
special programs related to you being a Cardholder, such 
as travel accident insurances, at no additional cost to you. 
You  understand  and  agree  that  we  are  not  obligated  to 
offer  such  services  or  programs  and  may  withdraw  or 
change them at any time.

thereof, be separately billed as an in house arrangement or
included within any other open-end credit plan you have
with us, with collection to be at the same rate and under the
same terms and conditions as provided for in this
Agreement. You may terminate this Agreement, at any time
and for any reason, by giving us written notice.
Nevertheless, termination by you or by us does not affect
your obligation to pay all debts and FINANCE CHARGE
thereon arising from authorized use of your Card. The Cards
remain our property and you must recover and surrender to
us all Cards upon our request or upon termination of this
Agreement.

thereof, be separately billed as an in house arrangement or
included  within  any  other  open-end  credit  plan  you  have
with us, with collection to be at the same rate and under the
same  terms  and  conditions  as  provided  for  in  this
Agreement. You may terminate this Agreement, at any time
and  for  any  reason,  by  giving  us  written  notice.
Nevertheless,  termination  by  you  or  by  us  does  not  affect
your obligation to pay all debts and FINANCE CHARGE
thereon arising from authorized use of your Card. The Cards
remain our property and you must recover and surrender to
us  all  Cards  upon  our  request  or  upon  termination  of  this
Agreement.

8. JOINT ACCOUNTS. If more than one person signed
the application, each person who signed it promises to pay
all amounts owed to us under this Agreement. Each of you
authorizes the other(s) to make purchases, withdrawals or
cash advances individually. Any one of you may cancel the
Account. The cancellation will be effective to all of you.
Each of you is jointly and severally obligated. This means
that we may collect money owed to us from each of you or
from all of you regardless of your current domestic
relationship or other legal proceedings. In any event, all of
you will continue to be jointly and severally obligated until
all Cards are returned and the debt is extinguished.

8. JOINT ACCOUNTS. If more than one person signed
the application, each person who signed it promises to pay
all amounts owed to us under this Agreement. Each of you
authorizes the other(s) to make purchases, withdrawals or
cash advances individually. Any one of you may cancel the
Account. The cancellation will be effective to all of you.
Each of you is jointly and severally obligated. This means
that we may collect money owed to us from each of you or
from  all  of  you  regardless  of  your  current  domestic
relationship or other legal proceedings. In any event, all of
you will continue to be jointly and severally obligated until
all Cards are returned and the debt is extinguished.

9. AUTHORIZED USERS. You may allow Authorized
Users on your Account by notifying us that you want
someone added to the account as an Authorized User and
obtaining our consent. Additionally, though not allowed,
you will be deemed to have personally authorized another
user in the following ways: (1) by lending your Card or
Account Number
required
consent); or (2) by any other means in which you would be
legally considered to have allowed another to use your
Account or be legally prevented from denying that you did
so. You should think carefully before you allow someone to
become an Authorized User (in any manner). By doing so,
you authorize the person to use your Account to the same
extent you can,
limited to making
Purchases, Cash Advances, Balance Transfers and allowing
others to use your Account. Your Account does not permit
you to limit the nature or amount of authority you give to
any Authorized User and you agree that you will not
attempt to do so. An Authorized User’s authority will
continue until you both notify us that you are terminating
the authority and you physically retrieve the Card. If you
cannot retrieve the Card, you will remain liable for any
transactions we cannot prevent after you notify us.

9. AUTHORIZED USERS. You may allow Authorized
Users  on  your  Account  by  notifying  us  that  you  want
someone added to the account as an Authorized User and
obtaining  our  consent.  Additionally,  though  not  allowed,
you will be deemed to have personally authorized another
user  in  the  following  ways:  (1)  by  lending  your  Card  or
Account  Number  to  another  (without  our  required
consent); or (2) by any other means in which you would be
legally  considered  to  have  allowed  another  to  use  your
Account or be legally prevented from denying that you did
so. You should think carefully before you allow someone to
become an Authorized User (in any manner). By doing so,
you authorize the person to use your Account to the same
extent  you  can,  including  but  not  limited  to  making
Purchases, Cash Advances, Balance Transfers and allowing
others to use your Account. Your Account does not permit
you to limit the nature or amount of authority you give to
any  Authorized  User  and  you  agree  that  you  will  not
attempt  to  do  so.  An  Authorized  User’s  authority  will
continue until you both notify us that you are terminating
the authority and you physically retrieve the Card. If you
cannot  retrieve  the  Card,  you  will  remain  liable  for  any
transactions we cannot prevent after you notify us.

including but not

(without our

to another

10. PAYMENTS. We will send you a statement every
month showing your Previous Balances of purchases and
cash advances, the current transactions on your account, the
remaining credit available under your Credit Line, the New
Balances of purchases and cash advances, the Total New
Balance, the FINANCE CHARGE due to date, and the
Minimum Payment required. Every month you promise to
pay at least the Minimum Payment on or before the due date
shown on your statement. You may, of course, pay more
frequently, pay more than the Minimum Payment, or pay the
Total New Balance in full, and you will reduce the
FINANCE CHARGE by doing so. The Minimum Payment
will be either (a) 3% of your Total new Balance (rounded to
the nearest dollar), or $25.00, whichever is greater, or (b)
your total New Balance, if it is less than $25.00 plus (c) any

10.  PAYMENTS.  We  will  send  you  a  statement  every
month  showing  your  Previous  Balances  of  purchases  and
cash advances, the current transactions on your account, the
remaining credit available under your Credit Line, the New
Balances  of  purchases  and  cash  advances,  the  Total  New
Balance,  the  FINANCE  CHARGE  due  to  date,  and  the
Minimum Payment required. Every month you promise to
pay at least the Minimum Payment on or before the due date
shown  on  your  statement.  A  late  payment  fee  (as  set 
forth  in  the  fee  schedule  included  with  this  Agreement) 
will  be  charged  if  the  required  minimum  payment  due 
under  this  Agreement  is  not  received  on  or  before  the 
tenth  day  after  its  due  date.  You  may,  of  course,  pay 
more  frequently,  pay  more  than  the  Minimum  Payment, 
or pay the Total New Balance in full, and you will reduce

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by 

on 

doing 

shown 

is  greater,  or  (b)your 

FINANCE  CHARGE 

the  Minimum  Payment(s) 

the 
so.  The 
Minimum  Payment  will  be  either  (a)  3%  of  your  Total 
the  nearest  dollar),  or 
new  Balance  (rounded 
to 
$25.00,  whichever 
total  New 
Balance,  if  it  is  less  than $25.00  plus  (c)  any  portion 
of 
prior 
statement(s)  which  remains  unpaid.  In addition,  at  any 
time  your  total  New  Balance  exceeds  your  credit  limit, 
you  must  immediately  pay  the  excess  upon  our  demand. 
Any  payment  check  or  other  form  of  payment  that  you 
send  us  for  less  than  the  full  balance  due  that  is  marked 
“paid  in  full”  or  contains  a  similar  notation,  or  that 
you  otherwise  tender  in  full  satisfaction  of  a  disputed 
amount,  must  be  sent 
to  Michigan  First  Credit 
Union,  27000  Evergreen  Road,  Lathrup  Village,  MI 
48076. We reserve all our rights regarding these payments 
(e.g.,  if  it  is  determined  that  there  is  no  valid  dispute  or  if 
any  such  check  is  received  at  any  other  address,  we  may 
accept  the  check  and  you  will  still  owe  any  remaining 
balance).  We  may  refuse  to  accept any  such  payment  by 
returning  it  to  you,  not  cashing  it,  or  destroying  it.  All 
other  payments  that  you  make  should  be 
sent to the appropriate payment address.

The Credit Union at its sole discretion, may give you the 
option  of  skipping  one  or  more  monthly  credit  card 
payments during the calendar year. If you are eligible to skip 
a  payment  for  any  given  month  the  minimum  monthly 
payment  shown on your periodic statement  will be zero. If 
you  do  so,  interest  charges  on  outstanding  balances  will 
continue to accrue during those months, but late charges will 
not be applied. Here’s the best part - you don’t even need to 
apply.

11.  PAYMENT  ALLOCATION.  We  may  select  and 
change  the  method  by  which  payments  and  credits  are 
allocated  to  your  account  at  our  sole  discretion;  however, 
payments will be allocated to billed amounts before they are 
allocated  to  unbilled  amounts  (transactions  incurred  since 
your  last  statement)  and  payments  amounts  in  excess  of  the 
required  minimum  monthly  payment  will  be  applied  to 
higher  rate  balances  before  they  are  applied  to  lower  rate 
balances.  Payment  for  more  than  the  minimum  amount  due 
will  be  accepted  as  a  single  payment  for  the  month;  the 
amount  over  the  minimum  is  not  applied  toward  future 
payments due.

12.  FINANCE  CHARGE.  Your  account  is  subject  to  a 
variable  rate.  Your  ANNUAL  PERCENTAGE  RATE 
(APR)  may  increase  or  decrease  if  the  Index  used  by  the 
Credit Union increases or decreases. The Index is the highest 
rate of interest identified as the “Prime Rate” in the “Money 
Rates”  section  of  The  Wall  Street  Journal  on  the  third 
business  day  preceding  the  end  of  the  most  recently 
concluded  calendar  quarter.    To  determine  the  ANNUAL 
PERCENTAGE  RATE  that  will  apply  to  your  account,  a 
Margin is added to the value of the Index. Your Margin and 
the  required  disclosures  of  your  ANNUAL  PERCENTAGE 
RATE and corresponding monthly periodic rate are set forth 
in  the  “How  Your  Annual  Percentage  Rate  is  Determined” 
section of the separate document provided to you referred to 
in  Section  1.  The  ANNUAL  PERCENTAGE  RATE  can 
change quarterly on the first day of the billing cycles which 
begin  in  the  months  of  January,  April,  July,  and  October. 
There  is  no  limit  on  the  amount  by  which  the  ANNUAL 
the 
PERCENTAGE  RATE  can  change  except 
ANNUAL  PERCENTAGE  RATE  will  never  be  more  than 
25.00%.  In no event will the rate ever exceed the maximum 
rate permitted by law.

that 

31. LIABILITY  FOR  FAILURE  TO
COMPLETE  TRANSACTIONS. We will not be liable for 
transactions that are not completed if any of the following 
circumstances apply:

•   Through  no  fault  of  ours,  you  do  not  have
sufficient funds available in your credit line;

•  The  transaction  would  cause  you  to  exceed  your
credit  limit;
•   The  ATM  where  you  are  requesting  a  cash

advance does not have enough cash;

•   The  terminal  or  system  was  not  working  properly
and  you knew of the malfunction at the time you 
initiated the transactions;

•  Circumstances beyond our control (such as fire or 
flood) prevent  the  transaction,  despite  reasonable
precautions  we have taken;

• Your Card is retained by the ATM;
• Your Card or PIN has been reported lost or stolen

and your account has been blocked or frozen;

• Your account is in default;
• You  or  anyone  authorized  by  you  to  conduct  a
transaction  commits  fraud  or  violates  any  laws  or
regulations; or

• You fail to follow the instructions on the screen or

terminal.

32.

LIABILITY  FOR  UNAUTHORIZED  USE.
You may  be  liable  for  the  unauthorized  use  of  your  credit 
card.  You  will  not  be  liable  for  unauthorized  use  that 
occurs after  you  notify  Michigan  First  Credit  Union 
at 
the  address  or  telephone  number  set  forth  below. 
You  must notify  us  orally  or  in  writing  of  the  loss,  theft, 
or  possible  unauthorized  use. 
case,  your 
any 
liability  will  not exceed $50.00. Notify us at:

In 

Card Services Dispute Processing 
P.O. Box 37035
Boone, IA 50037
866.820.2946

Or

Michigan First Credit Union 
27000 Evergreen Road
Lathrup Village, Michigan 48076 
800.664.3828

33. 

LIMITATIONS 
be 

OF 
RESPONSIBILITY. 
merchandise 
responsible 
We  will  not 
for 
or  services  purchased  by  you  with  the  Card.  We  are 
not  liable 
refusal  or  inability  of  merchants, 
financial  institutions  and  others  to  accept  your  card(s)  or 
electronic 
them  or  complete  a 
transaction,  or  for their retention of the Card(s).

to  honor 

terminals 

for  the 

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merchant’s cancellation number.

• Recurring Transactions – If you authorize a merchant
to charge your Account for repeat transactions without
your Card, you must notify the merchant, and not us,
when you want to discontinue the repeat transactions.
• Dispute Access – If you disagree with a transaction on
your statement or have a dispute with a merchant as a
result  of  a  transaction,  you  agree  to  provide  us with
information  and  assistance  we  reasonably  request.
Otherwise, you will pay us for any resulting loss we
have,  unless  we  are  prohibited  by  law  from  holding
you liable for our loss.

27. CARD AGREEMENT. You  understand  that  your  Visa 
Credit  Card  is  issued  by  us,  remains  our  property,  and  is 
subject  to  rules  governing ATM  networks,  which  financial 
institutions must follow. The Cards are not transferable. By 
using your Card, you are agreeing to the following additional 
terms: (1) To abide by the rules and regulations and those of 
the participating ATM network as may be amended; (2) That 
we  and  the  ATM  network  may  follow  all  electronic 
instructions given through the ATM; (3) that we may restrict 
the use of or terminate your Card at any time without notice 
to prevent loss to your account or to the Credit Union; (4) 
your Card may not be used for any illegal transaction.

28. DAILY LIMITS. You agree  to  adhere  to  any  daily 
limits established by the Credit Union in conformance with 
the  ATM  network  agreement  and  which  are  subject  to 
modification to preserve the integrity of the ATM network 
and  prevent  loss  to  the  Credit  Union  or  its  members.  
The current  daily  limit  is  $800.00,  the  credit  union  may 
change this limit in its discretion and without prior notice.
29. PERSONAL  IDENTIFICATION  NUMBER  (PIN).
Upon  request  we  will  furnish  you  with  a  Personal 
Identification  Number  (PIN).  You  agree  to  keep  the  PIN 
confidential. You also agree you won’t write the PIN on the 
Card or anything you keep with the Card. Your use of the PIN 
and Card in getting a Cash Advance or making a Purchase is 
agreed  to  constitute  your  signature  for  purposes  of  such 
transactions. You  can  also  use  your  card  together  with  your 
Personal Identification Number (PIN) to get a Cash Advance 
from  an  Automated  Teller  Machine  (ATM)  in  the  Visa 
Network,  to  get  a  Cash  Advance  from  a  Visa  financial 
institution, or to make a Purchase from a merchant that uses 
the  Card  in  an  electronic  terminal  that  accesses  the  Visa 
system. IF YOU FORGET OR DO NOT ENTER YOUR PIN 
CORRECTLY, THE ATM MAY KEEP YOUR CARD THE 
THIRD  TIME  THE  PIN  IS  ENTERED  INCORRECTLY. 
THIS  PROCEDURE  IS  FOR  SECURITY  MEASURES. 
KEEP YOUR PIN IN A SECRET PLACE. If you authorize us 
to issue a Card to anyone else for use through any electronic 
access device, you are authorizing that individual to withdraw 
funds from any account which can be accessed by that Card, 
regardless of whether that individual is authorized to withdraw 
money from the account by any other means.

30.

FEES  AND 

CHARGES.  You 

agree
to  pay      the  various  fees  and  charges  with  respect  to 
your Account  as  set  forth  in  the  fee  schedule  included 
with this  Agreement  or  as  otherwise  provided  to  you. 
You agree  to  pay  any  related  charges  that  are  imposed 
as  a result of your use of the Visa Credit Card or an ATM. 

8

Any  change  in  the  ANNUAL  PERCENTAGE  RATE
affects your entire balance and is effective at the beginning
of  the  first  billing  cycle  which  follows  the  change.  The
Credit Union reserves the right to substitute a similar index
if the index described above becomes unavailable.

The FINANCE CHARGE is calculated by applying the
above  periodic  (monthly)  rate  to  the  Average  Daily
Balance  (including  new  purchases). An  “Average  Daily
Principal Balance” is calculated separately for purchases
and cash advances and is determined as follows: For each
day  during  the  statement  period  (billing  cycle)  the
principal  balances  of  purchases  and  of  cash  advances
from the previous day are increased by any purchases or
cash  advances  posted  to  the  Account  that  day  and
decreased  by  any  payments  or  credits  posted  to  the
Account  that  day.  Such  daily  principal  balances  are
separately totaled and then divided by the number of days
in  the  statement  period  (billing  cycle),  resulting  in  the
“Average  Daily  Principal  Balances”  of  purchases  and
cash advances shown on your statement.

You can avoid FINANCE CHARGES on purchases by
paying the full amount of the New Balance of Purchases
each month on or before the payment due date shown on
your monthly statement.  Otherwise, the New Balance of
Purchases, and subsequent purchases from the date they
are posted to your account, will be subject to FINANCE
CHARGE, except that if during the previous billing cycle
you paid all amounts owing in full by the Payment Due
Date, then in the current billing cycle you will have a free
interest  period  on  the  amount  of  the  New  Balance  of
Purchases remaining from the previous billing cycle that
is paid by the Payment Due Date based on our payment
allocation method.

13.  PERIODIC  STATEMENTS.  We  will  send  you  a
statement  every  month  showing  your  previous  balance,
purchases  and  cash  advances,  payments  made  on  your
account,  periodic  rate,  annual  percentage  rate,  finance
charge and its method of computation, any other charges,
free interest period, payment due date, procedures for error
resolution,  Minimum  Payment  required,  and  the  closing
date with corresponding New Balance for the billing cycle.
You may not receive a statement on your Account if there
has been no activity or if collections procedures have been
initiated  against  you  because  you  are  in  default.  Each
statement is deemed to be a correct statement unless you
establish  a  billing  error  pursuant  to  the  Federal  Truth  in
Lending Act as described in this Agreement.

14. DEFAULT. You will be in default and we may, to
the extent permitted by law, terminate your credit line and
declare  the  entire  unpaid  balance  of  the  account
immediately due and payable, under any of the following
conditions:

• you  fail  to  make  the  minimum  payment  by  the

statement payment due date;

• you breach any other promises made in or conditions
of the Agreement and/or any other agreement with us;

• you use your card for an illegal transaction;
• if you become involved in any insolvency, receivership,
guardianship, conservatorship, or any other proceeding
which determines you are incapable of managing your
financial affairs, including filing for Bankruptcy;

• you have made a false or misleading statement in your
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credit  application  and/or  in  your  representation  to  us
while you owe money on your account;

• a  judgment  or  tax  lien  is  filed  against  you  or  any
attachment  or  garnishment  is  issued  against  any  of
your  property  or  accounts,  including  anyone  starting
an action or proposing to seize any of your funds on
deposit with us;

• we in good faith determine that your creditworthiness
(which includes your ability to repay us) has become
unsatisfactory due to change in employment, increase
in  your  other  obligations,  or  because  of  any  other
reason, time being of the very essence;

• you die; or
• government  action  precludes  us  from  imposing  the
annual percentage rate or a government authority has
notified  us  that  continued  advances  constitute  an
unsafe and unsound practice.
In  the  event  of  any  default,  we  may,  at  our  option,
declare  the  entire  balance  on  the  Account  to  be
immediately  due  and  payable.  If  you  are  in  default  we
may,  instead  of  terminating  your Account  and  declaring
the entire unpaid balance due and payable, suspend your
credit  privileges  but  not  declare  what  you  then  owe
immediately  due  and  payable.  If  we  do  the  latter,  we
reserve the right to later terminate the Account and declare
the  entire  unpaid  balance  due  and  payable  at  any  time
before you cure the default by paying all past due amounts.
15. COLLECTION  COSTS.  You  also  agree  that,  in
case of default, you will pay all usual and customary costs
of collection permitted by law, including, but not limited
to,  attorney  fees  and  expenses  incurred  by  us  in  the
enforcement of this agreement.

16. DELAY OR FAILURE TO ENFORCE. We do not
lose our rights under this or any related agreement if we
delay or fail to enforce them. We can accept late payments
or partial payments without losing any of our rights under
this Agreement.

17. NOTIFICATION  OF ADDRESS  CHANGE.  You
agree  to  notify  us  promptly  if  you  change  your  name,
street address, email address or telephone number.

18. ADDRESS  FOR  NOTICES  TO  US.  All  notices
under  this Agreement  must  be  in  writing  and  mailed  to
Michigan  First  Credit  Union,  27000  Evergreen  Road,
Lathrup Village, Michigan 48076.

19. CHANGE IN TERMS. From time to time, we may
amend this Agreement by mailing a written notice of the
amendment to you at the last address shown for you in our
records.  In  the  event  the  terms  we  are  changing  require
advance  notice  by  law,  we  will  comply  with  the
requirements of that law. 

20. YOU MAY CANCEL THE ACCOUNT. You may
cancel the account whenever you choose. If you do, you
agree  to  cut  each  Card  in  half  and  return  it  to  us  at  the
address  shown  in  Section  18  above,  along  with  your
written notification that you wish to cancel the Account.
Such cancellation will become effective within five days
after  the  notice  is  received  by  us.  You  will  still  be
responsible for the repayment of any outstanding balance
on your Account and any other amounts that have not yet
been billed to you.

21. WE  MAY  CANCEL  THE  ACCOUNT.  We  have
the right to cancel the Account at any time upon written
6

notice sent to you at the last address shown for you in our 
records. You agree to discontinue the use of the Cards, and 
to return the Cards to us, at our request. 

22. CREDIT REPORTING AGENCIES. You authorize us
to investigate your credit standing when opening, renewing or 
reviewing  your  Account,  and  you  authorize  us  to  disclose 
information  regarding  our  experience  with  you  under  this 
Agreement  to  consumer  reporting  agencies,  bureaus  and 
other  creditors.  If  you  request  it,  we  will  provide  the  name 
and address of each consumer reporting agency used for this 
purpose.  If  you  believe  we  have  reported  inaccurate 
information about you to a consumer reporting agency, please 
notify  us  at  Michigan  First  Credit  Union,  27000  Evergreen 
Road, Lathrup Village, Michigan 48076. In doing so, please 
identify  the  inaccurate  information  and  tell  us  why  you 
believe it is incorrect. If you have a copy of the credit report 
that contains the alleged inaccurate information, please send 
us a copy of that report as well. You are hereby notified that 
negative  information  will  be  provided  to  appropriate 
consumer reporting agencies if you fail to perform your 
obligations under this agreement.

23. TRANSACTION  SLIPS.  Your  periodic  statement 
will  identify  the  merchant,  electronic  terminal  location,  or 
financial  institution  at  which  transactions  were  made. You 
must retain the copy of such slips furnished at the time of 
each transaction in order to  verify  the  transactions  listed 
on  your  statement  as transaction slips cannot be provided 
by Michigan First Credit Union.

24. CREDITS. If merchants who honor your Card give
you a credit for returns or adjustments, they will do so by 
processing  a  credit  which  we  will  post  to  your  Account. 
You should  keep  your  copy  of  the  credit  slip  to  verify 
your  monthly  statement.  If  your  credits  and  payments 
exceed  what  you  owe  us  on  the  Account  we  will  credit 
such excess to the Account and, if the amount is $1.00 or 
more, we will credit it to your share account after two (2) 
months or upon your written request.

25.  FOREIGN  TRANSACTIONS.  Purchases  and
cash  advances  made  in  foreign  countries  and  foreign 
currencies  will  be  billed  to  you  in  U.S.  dollars.  The 
exchange rate for transactions in a foreign currency will be 
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, as provided in Section 30, we will separately bill 
you a 1% International Transaction Fee.

26. TRANSACTIONS WITH MERCHANTS.

• Return  Policies  –  If  a  merchant  discloses  a  policy
such as but not limited to “no returns,” “no refunds,”
“as is,” or “all sales final” you will be bound by that
policy when you use your Account to buy goods or
services from that merchant.

• Reservations – When using your Account to make a
travel  or  lodging  reservation,  obtain  the  merchant’s
cancellation  policy  and  follow  it  if  you  wish  to
cancel.  If  you  cancel,  obtain  the  merchant’s
cancellation number that is required to be provided
to you. The merchant may charge you for a cancelled
transaction  unless  you  can  provide  us  with  the

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