VISA PLATINUM CREDIT CARD AGREEMENT
ISSUED BY:  PITTSFORD FEDERAL CREDIT UNION

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Retail Installment Credit Agreement
NOTICE:  See reverse side for important information regarding your right to dispute billing errors.

1.   AGREEMENT.    This  is  an  agreement  between  The  Pittsford  Federal  Credit  Union 
(sometimes referred to as “PFCU”, “us” or “we”)  and each applicant and/or co-applicant 
(referred to as “you”) for a VISA account whose application is approved by PFCU.  VISA 
card(s) issued in connection with this account are referred to as “card”.  This Agreement 
will not be effective with respect to the purchase or lease of property or services until you 
or a person authorized by you signs a sales slip or memorandum evidencing a purchase or 
lease of property or services by use of the card. If you authorize a merchant by electronic 
means (for example, through the Internet) or by telephone to debit your credit card account 
to pay for the purchase or lease of property or services, your authorization will be considered 
your signature on a sales slip. This Agreement will not be effective with respect to cash 
advances until you or someone you authorize signs an advance request, a convenience 
check or some other authorization for a cash advance or uses the card or your personal 
identification number (PIN) at an automated teller machine (ATM) or other facility to obtain 
a cash advance. Until this Agreement becomes effective, you will not be responsible for 
any purchase or lease of property or service or cash advances by use of the card after its 
loss or theft.  

2.  USING THE CARD.  Each card must be signed by the individual whose name is printed 
on it.  You may use the card and/or your card number and card expiration date to make 
purchases in person, by mail, electronically (through the Internet), or by telephone from 
merchants and others who accept VISA cards. In addition you may obtain cash advances 
from PFCU, from other financial institutions participating in the VISA program, from ATMs 
that provide access to the VISA system (not all ATMs provide such access) or by using 
a convenience check which we send you for that purpose. You will need to use your PIN 
to obtain a cash advance from an ATM. You agree to pay all amounts charged by use of 
the card, your card number or your PIN by you or anyone who is authorized by you to use 
your account, plus other charges provided in this Agreement. For security purposes, you 
agree not to write your PIN on the card itself.  

NO USE FOR ILLEGAL TRANSACTIONS. You agree not to use your card or your card 
number for any illegal transactions, such as unlawful gambling. We may assume, without 
any further inquiry, that all transactions made by you or someone authorized by you using 
the card or the card number are legal, even if we have actual or imputed knowledge of 
information that might reasonably lead us to question whether a particular transaction is 
legal.

3.  RESPONSIBILITY AND OTHERS USING YOUR ACCOUNT.  Your obligation to pay 
the amount owed on your account continues until paid in full even though an agreement, 
divorce decree or other court judgment to which PFCU is not a party may direct someone 
else to pay the account balance. Each is individually responsible for all amounts on the 
account and all are jointly responsible for all amounts owed.  This means PFCU can enforce 
this Agreement against any of you individually or all of you together.

4.   CONVENIENCE  CHECKS.    We  offer  Convenience  Checks  as  an  optional  means 
to  purchase  or  lease  goods  or  services  or  to  obtain  cash.    Convenience  Checks  may 
not be used to make payments on your PFCU VISA account.  Convenience Checks will 
be posted to your account as a cash advance and Finance Charges and fees will be 
assessed as described in Section 8.  We will not certify a Convenience Check.  We are 
not required to honor a Convenience Check and will not be responsible for returning it 
unpaid if  (1) You do not have enough available credit on your account, (2)  Your account 
has expired or your right to use your account has been suspended or canceled by us, (3) 
Your card or Convenience Checks have been reported lost/stolen, (4) Your Convenience 
Check is postdated (shows a future date), or (5) You are in default under this Agreement.  
In the event that we do not honor a Convenience Check presented to us for payment, it 
will be returned to the payee and we will charge your account a Returned Check fee of 
$20.  If we do honor a Convenience Check when we are not required to do so, it will be 
considered a cash advance and you will be responsible for repaying it under the terms of 
this Agreement.

STOPPING PAYMENT OF A CONVENIENCE CHECK. You may ask us to stop payment 
of  a  convenience  check  by  calling  us  at  (800)  836-8010.    Your  stop  payment  request 
will only be effective for 14 days from the date of your call unless within that 14 days you 
confirm it in writing, signed by you, describing with certainty the convenience check to be 
stopped and sent to us at P.O. Box 726, Mendon, New York 14506. Even if you do that, we 
may disregard your stop payment request starting six months after we receive it unless 
you renew that request in writing to us before the end of that six month period. We will use 
commercially reasonable efforts to stop payment on your convenience check. However, 
you agree that we will not be responsible in any way if the convenience check that you 
have requested us to stop payment on is cashed or otherwise presented for payment and, 
using commercially reasonable efforts, we are unable to stop payment.

5.  CREDIT LIMIT.  Your credit limit will be displayed on each Monthly Statement. You 
may not allow the balance of your account to exceed the credit limit which is approved 
by PFCU.  If on your request we, at our discretion, make advances from your account in 
excess of your credit limit, our doing so will not change the amount of your credit limit, the 
advances are still subject to the provisions of this Agreement, and you will be required to 
repay any outstanding amounts which exceed your credit limit immediately on our demand. 
Each payment you make on the account will restore your credit limit by the amount of the 
payment which is applied to the principal amount of purchases and cash advances. You 
may request an increase in your credit limit. We have the right to increase or decrease your 
credit limit or to terminate your borrowing privileges at any time without advance notice to 
you.

6.    MONTHLY  PAYMENT.    Each  month  you  must  pay  at  least  the  minimum  payment 
shown  on  your  statement  within  at  least  28  days  of  the  statement  closing  date.  The 
minimum periodic payment required is the total New Balance as shown on your monthly 
billing statement if the amount is under $10.00.  If the New Balance exceeds $10.00, the 
minimum periodic payment is 3.00% of that portion of the New Balance which does not 
exceed your credit limit, plus the entire portion of the New Balance in excess of your credit 
limit, plus any amount past due, or $10.00, whichever is greater. You may at any time pay 
more than the minimum amount due or even the total new balance shown on your 
monthly statement. The sooner you pay your new balance, the less you will have to pay 
in FINANCE CHARGES.

7.  STATEMENTS  AND  NOTICES.    Statements  and  notices  will  be  mailed  to  you  at 
the most recent address you have given to PFCU.  Notice sent to any one of you will be 
considered notice to all.

8.  FINANCE CHARGES. 
Purchases  –  You  can  avoid  paying  a  FINANCE  CHARGE  on  current  billing  cycle 
purchases (those itemized on your statement) if: (i) you pay for the current billing cycle 
purchases by the due date appearing on the statement; and (ii) the statement shows no 
previous balance for purchases or you paid the previous balance for purchases in full by 

the due date shown on the previous statement. We figure the FINANCE CHARGE on your 
purchases by applying the daily periodic rate to the "average daily balance."  To get the 
"average daily balance", we take the beginning principal balance of this account each day, 
add any new purchases, and subtract any payments or credits applied to this principal 
balance as well as unpaid finance charges. This gives us the daily balance. We then add 
up all the daily balance for the billing period and divide the total by the number of days in 
the billing period. This gives us the "average daily balance." 

Therefore, the FINANCE CHARGE for the billing period is the (average daily balance) X 
(the daily periodic rate) X (the number of days in the billing period).

Cash Advances – A FINANCE CHARGE will be added to your cash advance account 
from the date of each cash advance transaction, unless we elect to accrue FINANCE 
CHARGE from a later date. We figure the FINANCE CHARGE on your cash advances 
by applying the daily periodic rate to the "average daily balance" of your cash advance 
account (including current transactions). To get the "average daily balance", we take the 
beginning principal balance of this account each day, add any new cash advances, and 
subtract any payments or credits applied to this principal balance as well as unpaid finance 
charges.  This gives us the daily balance.  We then add up all the daily balance for the 
billing period and divide the total by the number of days in the billing period.  This gives 
us the "average daily balance".

Therefore, the FINANCE CHARGE for the billing period is the (average daily balance) X 
(the daily periodic rate) X (the number of days in the billing period).

Therefore, the TOTAL FINANCE CHARGE for the billing period is (the FINANCE CHARGE 
for purchases) + (the FINANCE CHARGE for cash advances).

IRREGULAR  PAYMENTS.    We  may  accept  late  payments,  partial  payments,  or 
9. 
items  marked  “payment  in  full”  of  the  like  without  losing  any  of  our  rights  under  this 
Agreement.

10.  DELAY IN ENFORCEMENT.  We may delay enforcing our rights under this Agreement 
without losing them.  

11.  APPLICATION OF PAYMENTS.  We may apply all payments and credits in accordance 
with  our  standard  operating  procedures  and  with  the  requirements  of  applicable  law.  
Payment application occurs in the following order:  (1) All Finance Charges and billed 
fees; (2) All purchases; (3) All cash advances.

12.  DEFAULT AND COLLECTION COSTS.  Nearly all of our accounts are transacted in 
a normal way.  However, we have the following rights:
(a)  Default.  You will be in default on this account if: (i) you fail to make a required payment 
on time; (ii) you fail to perform any other obligation to us, or any representation you make 
proves to be untrue; (iii) you die or become the subject of a proceeding in bankruptcy; or 
(iv) any third party attempts by legal process to take any money or other property of yours 
in our possession. (v) if we reasonably believe you will not be able to repay us for any 
reason.  If more than one person is liable for the amounts owed under this Agreement, a
default  that  occurs  with  respect  to  one  of  you  will  constitute  a  default  for  all  of
you.
(b)  Responses to Default.  Upon default we may without notice cancel the account and 
require immediate payment of all or any part of the balance due.  We may also exercise 
any of our other legal rights.

If you have other loans from us, or take out other loans with us in the future, collateral 
securing those loans will also secure your obligations under this agreement.  However, 
unless you expressly agree otherwise, your primary dwelling will not secure your obligations 
under this agreement even if we have or later acquire a mortgage on the dwelling.

If you have executed a written agreement granting a security interest in any deposit 
accounts (checking, savings, or share accounts) or other funds held by us to secure your 
obligations under this credit card plan, such accounts and/or funds are additional security 
for your obligations to us arising from the use of your Card.
(c)  Attorney's Fees.  In event of suit to collect unpaid balances, all costs, including attorney's 
fees of 25% of the balance due, or such greater amount as may be reasonable and just, 
and also those costs, expenses, and attorney's fees incurred in appellate, bankruptcy, 
and post-judgment proceedings, shall be imposed.

13.  NOTICE STATUTORY LIEN.  Under the Federal Credit Union Act (12 U.S.C. Section 
1757 (11)), Pittsford FCU has the right to impress and enforce a statutory lien against your 
shares and dividends in the event of your failure to satisfy a financial obligation to us. We 
may enforce that right by applying the balance of shares and dividends in your account(s) 
at the time of that default in order to satisfy your VISA obligation. We may exercise this right 
without further notice to you. However, shares that you have in any account that would 
lose special tax treatment under any law, if subject to this interest, are excluded from this 
interest.

14.  CANCELLATION.  We may reduce your credit limit or cancel the account altogether, 
without notice to you.  Unless you are in default, we will give you notice of any such reduction 
or cancellation.  We may also cancel your account by not sending you a renewal card 
upon expiration of your outstanding card.  You may cancel your account only by notifying 
us to that effect and delivering the card(s) to us (cut in half).

15.  SECURITY INTEREST.  To secure your account, you grant us a purchase money 
security interest under the Uniform Commercial Code in any goods you purchase through 
the account.  If you default, we will have the right to recover any of these goods which 
have not been paid for through our application of your payments in the manner described 
in section 11.

16.  CREDIT INFORMATION.  You will authorize us to investigate your credit standing when 
opening, renewing, or reviewing your account.  We may release information to others such 
as credit reporting agencies and other creditors about our experience with your account.  
We may obtain a credit report on you at any time in the future to review your account.  
Upon request, we will tell you whether a consumer report was requested and the name 
and address of the agency that furnished it.

17.  MONTHLY STATEMENT.  If you have a balance in your account at the end of your 
billing period, we will send you a statement.  It will show your total purchases and cash 
advances for the billing cycle,  the finance charge, the minimum payment due, and the 
date the payment is due.  The statement will be sent to you at least 21 days before the 
date that your payment is due.

18.  LOST OR STOLEN CARDS.  In no event will you be liable for unauthorized use that 
occurs after you notify us of the loss, theft or possible unauthorized use. In any case, your 
liability will not exceed $50.

  
 
 
Under VISA's Zero Liability Policy, you have liability protection for all of your card transactions 
that take place on the VISA system unless you are guilty of gross negligence or fraud.  
Should someone steal your card or your card number or otherwise obtain and use your 
card or your card number without your permission, you pay nothing for their activity unless 
you, yourself, were grossly negligent or fraudulent. If you notice unauthorized activity on 
your card, promptly contact PFCU to report it. It is important to continually monitor your 
monthly statement to identify any unauthorized transactions. PFCU may impose greater 
liability on you if the credit union reasonably determines that the unauthorized transaction 
was caused by your gross negligence or fraudulent action—which may include your delay 
for an unreasonable time in reporting unauthorized transactions. In any case, you must 
immediately notify the credit union of loss, theft or unauthorized use of your card or your 
card number. Notice of unauthorized use may originally be oral, but must be followed by 
written notice. Notice must be given to the Pittsford Federal Credit Union, P.O. Box 726, 
Mendon, NY 14506 or initially by calling us at (800) 836-8010.

19.  EFFECT  OF  AGREEMENT.    This  Agreement  is  the  contract  which  applies  to  all 
transactions on your account even though the sales, cash advance, credit, or other slips 
you sign or receive may contain different items.  We may amend this Agreement from time 
to time by sending you advance written notice before the change is effective.  To the extent 
the law permits, and indicated in the notice to you, the change will apply to your existing 
account balances as well as to future transactions.  Either PFCU or you may terminate this 
Agreement at any time, but termination by you or PFCU will not affect your obligations.  The 
cards your receive remain property of PFCU and you must recover and surrender to PFCU 
all cards upon request or upon termination of this Agreement whether by you or PFCU.  

20.  RETURNS, CREDIT BALANCES, OVERPAYMENTS AND ADJUSTMENTS.  Merchants 
and others who honor the Card may give credit for returns or adjustments, and they will 
do so by sending us a credit slip which we will post to your account.  If your credits and 
payments exceed what you owe us, we will hold and apply this credit balance against 
future purchases and cash advances, or, if it is $1 or more, refund it on your written request 
or automatically after 6 months.

21.  FEES.  The following charges may be applied to your account, as applicable.  

Annual Fee -- None. 

Late Fee -- None.

Overlimit Fee -- None.

Card Replacement Fee -- When you make a request to change the account number or 
replace the credit card for any reason, including a lost or stolen card, you may be charged 
a fee of $15.

Returned Check Fee -- If any check submitted to us as a payment on the account is 
returned to us for any reason, you may be charged a fee of $20.

Documentary Evidence Charges --  If you request documentary evidence of a transaction 
on your account (for example, a copy of a sales draft), we may pass along to you the cost 
of us researching this evidence at a rate of $10 per hour.  No such charge will be imposed 
unless the documentary evidence agrees with the transaction as previously reflected on your 
statement.  Further, no charge will be imposed for billing statement errors or inquiries.

22.  FOREIGN    TRANSACTIONS.    Purchases  and  cash  advances  made  in  foreign 
countries and/or foreign currencies will be billed to you in U.S. Dollars. The exchange rate 
to dollars will be determined in accordance with the operating regulations established 
by VISA International from time to time. As of the date these disclosures were published, 
those regulations establish the conversion rate as either the rate selected by VISA from 
the range of rates available in wholesale currency markets; this may vary from the rate 
VISA itself receives, or the government-mandated rate in effect for the applicable central 
processing date. The currency conversion rate used on the processing date may differ 
from the rate that would have been used on the purchase date or statement posting date. 
You will be required to pay any International Service Assessment fee (ISA fee) or other fee 
that VISA imposes on you or us in connection with the transaction. Transactions that occur 
in a foreign country and are processed in a foreign currency are subject to a 1.00% fee. 
Transactions that occur in a foreign country and are processed in U.S. dollars will be subject 
to a 0.80% ISA fee. Transactions conducted in U.S. military bases, territories, embassies, 
or consulates; and fund transfers conducted by the cardholder will not be subject to the 
0.80% ISA fee. A single foreign transaction will appear as two lines. There will be one 
line displaying the charge followed by a separate line displaying the international service 
assessment or other fee imposed by VISA.

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 at our address 
listed on your bill.  Write to us as soon as possible.  We must receive 
your letter 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 need more information, describe the item you are not sure  
about.

If you have authorized us to pay your credit card bill automatically 
from your savings 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 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 bill was correct.

After  we  receive  your  letter,  we  cannot  try  to  collect  any  amount 
you question, or report you as delinquent for that amount.  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 any 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 to us within ten 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  can't  collect  the  first  $50  of  the 
questioned amount, even if your bill was 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 you 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.

Special Rule For New York Residents

New  York  Residents  may  contact  the  New  York  State  Banking 
Department  to  obtain  a  comparative  listing  of  credit  card  rates, 
fees,  and  grace  periods.    New  York  State  Banking  Department 
1-800-518-8866.

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