SELCO
CREDIT CARD ACCOUNT AGREEMENT
AND FEDERAL DISCLOSURE STATEMENT
COMMUNITY CREDIT UNION
THIS IS YOUR CREDIT CARD ACCOUNT AGREEMENT AND IT INCLUDES NECESSARY FEDERAL TRUTH-IN-
LENDING DISCLOSURE STATEMENTS, VISA PLATINUM, VISA PLATINUM (WITH INTRO RATE ON BALANCE
925 Harlow Rd., Springfield, OR 97477
TRANSFERS), AND SECURED VISA PLATINUM AGREEMENTS, AND ANY SPECIAL INSTRUCTIONS REGARDING
Phone: 800-445-4483
THE USE OF YOUR VISA PLATINUM, VISA PLATINUM (WITH INTRO RATE ON BALANCE TRANSFERS), OR
SECURED VISA PLATINUM CREDIT CARDS, AND/OR ANY OTHER ACCOUNT ACCESS DEVICE. PLEASE BE
CERTAIN TO READ THIS AGREEMENT CAREFULLY AND NOTIFY US AT ONCE IF ANY PARTS ARE UNCLEAR.
Interest Rate and Interest Charges
Annual Percentage Rate (APR)
VISA Platinum: 8.75 to 18.00 %
For Purchases
These APRs will vary with the market based on the Prime Rate.
VISA Platinum (with Intro Rate on Balance Transfers):
N/A
%
These APRs will vary with the market based on the Prime Rate.
Secured VISA Platinum: 8.75 to 18.00 %
These APRs will vary with the market based on the Prime Rate.
Annual Percentage Rate (APR)
VISA Platinum: 8.75 to 18.00 %
For Balance Transfers
These APRs will vary with the market based on the Prime Rate.
VISA Platinum (with Intro Rate on Balance Transfers):
N/A
% Introductory APR
for
N/A
months
After that Your APR will be
N/A
%, and will vary with the market based on the
Prime Rate.
Secured VISA Platinum: 8.75 to 18.00 %
These APRs will vary with the market based on the Prime Rate.
Annual Percentage Rate (APR)
VISA Platinum:
8.75 to 18.00
%
For Cash Advances
These APRs will vary with the market based on the Prime Rate.
VISA Platinum (with Intro Rate on Balance Transfers):
N/A
%
These APRs will vary with the market based on the Prime Rate.
Secured VISA Platinum: 8.75 to 18.00 %
These APRs will vary with the market based on the Prime Rate.
Paying Interest
We will not charge You interest on purchases if You pay Your entire balance owed each
month within 25 days of Your statement closing date. We will begin charging interest on
cash advances and balance transfers on the transaction date.
For Credit Card Tips from the
To learn more about factors to consider when applying for or using a Credit
Consumer Financial Protection
Card, visit the website of the Consumer Financial Protection Bureau at
Bureau
http://www.consumerfinance.gov/learnmore
Fees
Set-up and Maintenance Fees
Additional Card Fee
$5.00
Transaction Fees
Foreign Transaction
1.00% of each foreign currency transaction in U.S. Dollars.
1.00% of each U.S. Dollar transaction that occurs in a foreign country.
Penalty Fees
Late Payment
Up to $25.00
Returned Payment
Up to $25.00
How We Will Calculate Your Balance: We use a method called "average daily balance (including new purchases)." See Your
Account Agreement for details.
Billing Rights: Information on Your rights to dispute transactions and how to exercise those rights is provided in Your
Account Agreement.
Copyright Oak Tree Business Systems, Inc., 2019. All Rights Reserved.
Page 1 of 4
OTBS 016CC FRB_Web SELC (8/19)
Rev. (10/19)
DEFINITIONS. In this Agreement, the reference to "We," "Us," "Our" and "Credit Union" mean SELCO COMMUNITY CREDIT UNION. The words "You" and "Your" mean each
person accepting this Agreement. If this is a joint Account, read singular pronouns in the plural. The words "Card" and "Credit Card" mean any VISA Platinum, VISA Platinum
(with Intro Rate on Balance Transfers), or Secured VISA Platinum Credit Card issued to You by Us and any duplicates or renewals. The word "Account" means the VISA Platinum,
VISA Platinum (with Intro Rate on Balance Transfers), or Secured VISA Platinum Credit Card Account established for You under this Agreement. "Convenience Check" means
the special Account access devices that We may provide for Your use from time to time. If this is a joint Account, read singular pronouns in the plural.
PROMISE TO PAY. You understand that the following terms and conditions constitute Our Agreement with You. You may request advances on Your Account through a variety
of means which could include (but may not be limited to) telephonic requests, Convenience Checks, Credit Cards and the like. Regardless of the means by which any advance
is made, You promise to pay Us all amounts charged to Your Account by You or by any user who has access to Your Account, with actual, apparent or implied authority for
use of Your Account, including Finance Charges and other fees or charges described herein.
Monthly Periodic Rate
ANNUAL PERCENTAGE RATE
Credit Card
for Purchases
for Purchases
0.729 to 1.50
8.75 to 18.00
VISA Platinum
%
%
N/A
%
N/A
VISA Platinum (with Intro Rate on Balance Transfers)
%
0.729 to 1.50
8.75 to 18.00
Secured VISA Platinum
%
%
Monthly Periodic Rate
ANNUAL PERCENTAGE RATE
Credit Card
for Balance Transfers
for Balance Transfers
0.729 to 1.50
8.75 to 18.00
VISA Platinum
%
%
N/A
%
N/A
VISA Platinum (with Intro Rate on Balance Transfers)
%
Secured VISA Platinum
0.729 to 1.50
%
8.75 to 18.00 %
Monthly Periodic Rate
ANNUAL PERCENTAGE RATE
Credit Card
for Cash Advances
for Cash Advances
VISA Platinum
0.729 to 1.50
%
8.75 to 18.00
%
N/A
%
N/A
VISA Platinum (with Intro Rate on Balance Transfers)
%
0.729 to 1.50 %
8.75 to 18.00
Secured VISA Platinum
%
USE OF YOUR CARD. You may use Your Card to buy goods and services in any
JOINT ACCOUNTS. Each Borrower will be responsible, jointly and severally, for the
place that it is honored and to get cash advances at participating financial institutions.
repayment of any amounts owed. If any Account access device, such as a Personal
You agree not to use Your Card for illegal transactions including, but not limited to,
Identification Number (PIN) is requested and approved, You understand that any such
advances made for the purpose of gambling and/or wagering where such practices
Account access device(s) will be mailed only to the primary Borrower at the address
are in violation of applicable state and/or federal law.
that We have on file for You. We may refuse to follow any instructions which run
counter to this provision.
PURCHASE MONEY SECURITY. For all purchase money transactions made with
Your Card, to the extent permitted by law, You grant Us a security interest in all such
MINIMUM MONTHLY PAYMENTS (PAYMENT SCHEDULE). Though You need only
personal property purchased with such Card.
pay the Minimum Monthly Payments, You understand that You have the right to repay
at any time without penalty. You also understand that You will only be charged periodic
OTHER SECURITY. Collateral (other than household goods or any dwelling) given as
Finance Charges to the date You repay Your entire balance. You may make larger
security under any other loan You may have with Us will secure all amounts You owe
payments without penalty. Any partial payment or prepayment will not delay Your next
Us now and in the future if that status is reflected in the "Truth-in-Lending Disclosure"
scheduled payment. All payments to Us must be in lawful money of the United States.
in any particular Agreement evidencing such debt.
Except as required by law, We may apply payments at Our discretion. Any unpaid
portion of the Finance Charge will be paid by subsequent payments and will not be
CONSENSUAL SECURITY INTEREST IN SHARES ON DEPOSIT. You grant
added to Your principal balance. You understand that any delay in the repayment of
and consent to a security interest in Your shares and deposit accounts with
Your unpaid balance will increase Your periodic Finance Charges and any
Us (except for IRA and Keogh accounts) and any dividends due or to become
acceleration in the repayment of Your unpaid balance will decrease Your periodic
due to You from Us to the extent You owe on any unpaid Credit Card balance.
Finance Charges.
ACCOUNT RESTRICTIONS. In order to receive and maintain a Secured VISA
Minimum Payments will be an amount equal to 2.00% of Your new unpaid VISA
Platinum Credit Card, You agree to give Us a specific pledge of shares or deposits
Platinum, VISA Platinum (with Intro Rate on Balance Transfers), or Secured VISA
which will be equal to 105% of Your Credit Limit. In the event that You default on Your
Platinum balance at the end of each billing cycle, subject to the lesser of $25.00 or
Account, We may apply these shares toward the repayment of any amount owed on
Your balance, plus any portion of the Minimum Payments shown on prior statement(s)
Your Secured VISA Platinum Credit Card. You may cancel Your Secured VISA
which remains unpaid, plus any amount that exceeds Your approved Credit Limit.
Platinum Credit Card at any time by paying any amounts owed on such Account. To
be certain that Your entire balance and all advances are paid, any shares pledged
You may, by separate agreement, authorize Us to charge Your payment directly to
may not be available to You for 30 days after You have cancelled and any outstanding
Your share or share draft account.
balance is paid in full.
FINANCE CHARGES. In the case of any transactions under Your Account, the
LINE OF CREDIT LIMITS. You will be notified of each specific Credit Limit for which
balances subject to the periodic Finance Charge are the average daily transactions
You are approved. Unless You are in default, the Credit Limits established for You will
balances outstanding during the month (including new transactions). To get the
generally be self-replenishing as You make payments.
average daily balance, We take the beginning balance of Your Account each day, add
any new purchases, balance transfers, cash advances, insurance premiums, debit
You will keep Your unpaid balance within Your Credit Limit set by Us, and You will
adjustments or other charges and subtract any payments, credits and unpaid Finance
pay any amount over Your Credit Limit on Our demand whether or not We authorize
Charges. This gives Us the daily balance. Then, We add up all the daily balances for
the advances which caused You to exceed Your Credit Limit. Even if Your unpaid
the billing cycle and divide them by the number of days in the billing cycle. The Finance
balance is less than Your Credit Limit, You will have no credit available during any
Charge for a billing cycle is computed by multiplying the average daily balance subject
time that any aspect of Your Account is in default.
to a Finance Charge by the Monthly Periodic Rate.
Copyright Oak Tree Business Systems, Inc., 2019. All Rights Reserved.
Page 2 of 4
OTBS 016CC FRB Web SELC (8/19)
Rev. (10/19)
You can avoid Finance Charges on purchases by paying the full amount of the entire
If We have determined that You did not meet the above referenced definitions, then
balance owed each month within 25 days of Your statement closing date. Otherwise,
the above described notice will not be furnished, in which case if a dispute arises
the new balance of purchases, and subsequent purchases from the date they are
from or relates to this Agreement, or the breach thereof, any controversy or claim
posted to Your Account, will be subject to a Finance Charge. Balance transfers and
arising out of or relating to this Agreement, shall be settled by arbitration
cash advances are always subject to a Finance Charge from the later of the date they
administered by the American Arbitration Association in accordance with its
are posted to Your Account or from the first day of the billing cycle in which the
Arbitration Rules and judgment on the award rendered by the arbitrator(s) may be
transaction is posted to Your Account.
entered in any court having jurisdiction thereof. Claims shall be heard by a single
arbitrator, and both the place of arbitration, together with the laws governing such
For VISA Platinum (with Intro Rate on Balance Transfers), balance transfer
arbitration, shall be the area in which Our principal office is located. Time is of the
transactions obtained during the N/A day period immediately following the date that
essence for any arbitration under this Agreement. Arbitration hearings shall take place
Your Account is established, will accrue finance charges at an introductory Monthly
within 90 days of filing, and awards shall be rendered within 120 days of filing.
Periodic Rate of
N/A
% (corresponding to an ANNUAL PERCENTAGE
Arbitrator(s) shall agree to these limits prior to accepting appointment. The
RATE of N/A
%) until N/A
Upon the expiration of the
arbitrators will have no authority to award punitive or other damages not measured
introductory rate period, the entire balance of balance transfers existing at that time
by the prevailing party's actual damages, except as may be required by statute. The
and in the future will accrue finance charges at the non-introductory variable rate
arbitrator(s) shall award to the prevailing party, if any, as determined by the
described elsewhere in this Agreement.
arbitrators, all of their costs and fees. "Costs and fees" mean all reasonable pre-
award expenses of the arbitration, including the arbitrators' fees, administrative fees,
VARIABLE RATE. For VISA Platinum and Secured VISA Platinum, all transactions
travel expenses, out-of-pocket expenses such as copying and telephone, court
are subject to a Variable Rate which is based on the highest Prime Rate as published
costs, witness fees, and attorneys' fees. Except as may be required by law, neither
in the Money Rates section of the Wall Street Journal in effect on the 15th day of the
a party nor an arbitrator may disclose the existence, content, or results of any
month that immediately precedes each Change Date ("Index") plus Our Margin. The
arbitration hereunder without the prior written consent of both parties. All parties
Index plus the Margin equals the Interest Rate. Changes in the Index will cause
hereby waive and give up all rights to a jury trial or class action relief.
changes in the Interest Rate on the first day of the billing that occurs during the first
month of each calendar quarter ("Change Date").
PERIODIC STATEMENTS. On a regular basis, You will receive a statement showing
all transactions on Your Account including amounts paid and borrowed since Your last
For VISA Platinum (with Intro Rate on Balance Transfers), all purchase and cash
statement. We will mail You a statement each month in which there is a debit or credit
advance transactions are subject to a Variable Rate which is based on the highest
balance or when a Finance Charge is imposed. We need not send You a statement if
Prime Rate as published in the Money Rates section of the Wall Street Journal in effect
We feel Your Account is uncollectible or if We have started collection proceedings
on the 15th day of the month that immediately precedes each Change Date ("Index")
plus Our Margin. The Index plus the Margin equals the Interest Rate. Changes in the
against You because You defaulted. EACH STATEMENT IS DEEMED TO BE A
CORRECT STATEMENT OF ACCOUNT UNLESS YOU ESTABLISH A BILLING
Index will cause changes in the Interest Rate on the first day of the billing that occurs
during the first month of each calendar quarter ("Change Date"). Following the
ERROR PURSUANT TO THE FEDERAL TRUTH-IN-LENDING ACT.
expiration of the Introductory Rate period, all balance transfer transactions are subject
to a Variable Rate which is based on the highest Prime Rate as published in the Money
OUR RESPONSIBILITIES TO HONOR CONVENIENCE CHECKS. We are under
Rates section of the Wall Street Journal in effect on the 15th day of the month that
no obligation to honor Your Convenience Checks if: (1) by paying a Convenience
immediately precedes each Change Date ("Index") plus Our Margin. The Index plus
Check, You would exceed Your Credit Limit; (2) Your Cards or Convenience
the Margin equals the Interest Rate. Changes in the Index will cause changes in the
Checks have been reported lost or stolen; (3) Your Account has been cancelled or
Interest Rate for balance transfers on the day the Introductory Rate period expires, and
has expired. If a postdated Convenience Check is paid and, as a result, any other
subsequently, on the first day of the billing that occurs during the first month of each
Convenience Check is returned unpaid, We are not responsible for any resulting
calendar quarter ("Change Date").
loss or liability.
For all VISA Cards, increases or decreases in the Interest Rate will cause like increases
DEFAULT. You will be in default if: (a) You do not make any payment or perform any
or decreases in the Finance Charge and will affect the number of Your regularly
obligation under this Agreement, or any other agreement that You may have with Us;
scheduled payments. For all VISA Cards, Your Interest Rate will never be greater than
or (b) You should die, become involved in any insolvency, receivership or custodial
18.00% and will apply to Your remaining principal balance.
proceeding brought by or against You; or (c) You have made a false or misleading
statement in Your credit application and/or in Your representations to Us while You
LATE CHARGE. If Your payment is more than 10 days late, You will be charged the
owe money on Your Account; or (d) A judgment or tax lien should be filed against You
lesser of: (a) $25.00; or (b) the amount of the minimum payment due.
or any attachment or garnishment should be issued against any of Your property or
rights, specifically including anyone starting an action or proceeding to seize any of
FOREIGN TRANSACTIONS. For transactions initiated in foreign countries and
Your funds on deposit with Us; and/or (e) We should, in good faith, believe Your ability
foreign currencies, the exchange rate between the transaction currency and the billing
to repay Your indebtedness hereunder is or soon will be impaired, time being of the
currency (U.S. dollars) will be: (a) a rate selected by VISA from the range of rates
very essence.
available in wholesale currency markets for the applicable central processing date,
which rate may vary from the rate VISA itself receives; or (b) the government-
Upon any occurrence of default, We may, to the extent permitted by law, cancel Your
mandated rate in effect for the applicable central processing date. For transactions
rights under this Agreement, require the return of all access devices and declare the
that are initiated in a foreign currency, You will be charged 1.00% of the final
entire balance of every Feature Category of Your Account immediately due and
settlement amount. For transactions occurring in foreign countries and initiated in U.S.
payable, without prior notice or demand.
Dollars, You will be charged 1.00% of the final settlement amount.
COLLECTION COSTS. In the event collection efforts are required to obtain payment
OTHER FEES AND CHARGES. You will be charged the following fees associated
on this Account, to the extent permitted by law, You agree to pay all court costs,
with the use of Your Card: (a) the lesser of $25.00 or the required minimum payment
private process server fees, investigation fees or other costs incurred in collection and
amount for the returned payment for any check (or other negotiable instrument used
reasonable attorneys' fees incurred in the course of collecting any amounts owed
for payment) which is returned unpaid; (b) $5.00 for each replacement Card You
under this Agreement or in the recovery of any Collateral.
request; (c) $5.00 for each replacement PIN You request; (d) $5.00 for each Card You
request be issued to a non-borrower (Authorized User); (e) $20.00 for each stop
ENFORCEMENT. We do not lose Our rights under this or any related agreement if
payment You request on a Convenience Check; (f) $6.00 for each statement copy
We delay enforcing them. We can accept late payments, partial payments or any other
You request; and (g) $15.00 per hour to research Your credit card account.
payments, even if they are marked "paid in full" without losing any of Our rights under
this Agreement. If any provision of this or any related agreement is determined to be
OVERDRAFT PROTECTION. We may transfer funds in the amount necessary (or in
unenforceable or invalid, all other provisions remain in full force and effect.
such increments as We may from time to time determine) to Your share draft account
by an advance on Your Account, subject to this provision, to clear any overdraft on
NOTIFICATION OF ADDRESS CHANGE. You will notify Us promptly if You move or
Your share draft account. Whether or not such transfers occur will be controlled by
otherwise have a change of address.
this Agreement. In any event, You hold Us harmless for any and all liability which
might otherwise arise if the transfer does not occur. Overdraft protection automatically
CHANGE IN TERMS. We may change the terms of this Agreement by mailing or
ceases if this Agreement is ever cancelled or terminated or Your Account is in default.
delivering to You written notice of the changes as prescribed by the Federal Truth-In-
Lending Act. To the extent permitted by law, the right to change the terms of this
ARBITRATION (EXCEPT FOR CREDIT COVERED UNDER THE MLA). This
Agreement includes, but is not limited to, the right to change the periodic rate
provision does not apply to covered-loans extended to covered borrowers as defined
applicable to Your unpaid balance and/or future advances.
within the Military Lending Act (MLA). If We determine You have met these definitions,
then We will provide a military annual percentage rate (MAPR) and payment obligation
CREDIT INSURANCE. Credit insurance is not required for any extension of credit
disclosure notice, in which case the following paragraph will not apply to You.
under this Agreement. However, You may purchase any credit insurance available
Copyright Oak Tree Business Systems, Inc., 2019. All Rights Reserved.
Page 3 of 4
OTBS 016CC SELC (8/19)
Rev. (10/19)
through Us and have the premiums added to Your outstanding balance. If You elect
What To Do If You Find A Mistake On Your Statement
to do so, You will be given the necessary disclosures and documents separately.
If You think there is an error on Your statement, write to Us at P.O. Box 7487,
INTEGRATED DOCUMENTS. Any separate sheet of paper labeled "Additional
Springfield, OR 97475. In Your letter, give Us the following information:
Disclosure - Federal Truth-In-Lending Act," which is delivered together with this
Agreement or at a later date becomes an integrated part of this Agreement
Account information: Your name and Account number.
and Disclosure.
Dollar amount: The dollar amount of the suspected error.
Description of problem: If You think there is an error on Your bill, describe what
CONSENT TO AGREEMENT. You acknowledge receipt of a copy of this
You believe is wrong and why You believe it is a mistake.
Agreement. By signing the application; or by using Your Account or any Account
access device; or by authorizing another to use Your Account, You agree to and
You must contact Us:
accept its terms.
Within 60 days after the error appeared on Your statement.
UPDATING AND DISCLOSING FINANCIAL INFORMATION. You will provide facts
At least three business days before an automated payment is scheduled, if You
to update information contained in Your original Account application or other financial
want to stop payment on the amount You think is wrong.
information related to You, at Our request. You also agree that We may, from time to
time, as We deem necessary, make inquiries pertaining to Your employment, credit
You must notify Us of any potential errors in writing. You may call Us, but if You do
standing and financial responsibility in accordance with applicable laws and
We are not required to investigate any potential errors and You may have to pay the
regulations. You further agree that We may give information about the status and
amount in question.
payment history of Your Account to consumer credit reporting agencies, a prospective
employer or insurer, or a state or federal licensing agency having any apparent
What Will Happen After We Receive Your Letter
legitimate business need for such information.
When We receive Your letter, We must do two things:
TERMINATION. Either You or We may cancel Your Account at any time, whether or
not You are in default. You will, in any case, remain liable to pay any unpaid balances
1)
Within 30 days of receiving Your letter, We must tell You that We received Your
according to the terms of Your Account.
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
OWNERSHIP. Your Card remains Our property and may be cancelled by Us at any
explain to You why We believe the bill is correct.
time without notice. You agree to surrender Your Card and to discontinue its use
immediately upon Our request.
While We investigate whether or not there has been an error:
ISSUANCE OF A PERSONAL IDENTIFICATION NUMBER. We will issue, upon Your
We cannot try to collect the amount in question, or report You as delinquent on
request, a Personal Identification Number (PIN) for use with participating Automated
that amount.
Teller Machines (ATMs). This PIN is confidential and should not be disclosed to
The charge in question may remain on Your statement, and We may continue
anyone. You may use Your PIN to access Your Account and all sums advanced will
to charge You interest on that amount.
be added to Your Account balance. In the event a use of Your PIN constitutes an
While You do not have to pay the amount in question, You are responsible for
Electronic Fund Transfer, the terms and conditions of Your Electronic Fund Transfer
the remainder of Your balance.
Agreement may also affect Your rights.
We can apply any unpaid amount against Your Credit Limit.
EFFECT OF AGREEMENT. Even though the sales, cash advance, credit or other
After We finish Our investigation, one of two things will happen:
slips You may sign or receive when using Your Card contain terms, this Agreement is
the contract which solely applies to all transactions involving the Card.
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.
UNAUTHORIZED USE. You may be liable for the unauthorized use of Your Card.
If We do not believe there was a mistake: You will have to pay the amount in
You will not be liable for the unauthorized use that occurs after You notify Us of the
question, along with applicable interest and fees. We will send You a statement
loss, theft, or possible unauthorized use by calling Us (541) 686-8000 or (800) 445-
of the amount You owe and the date payment is due. We may then report You
4483 during regular business hours, or (866) 262-9488 after hours, on weekends and
as delinquent if You do not pay the amount We think You owe.
on holidays, or by writing to Us at P.O. Box 7487, Springfield, OR 97475. In any case,
Your liability will not exceed $50.00.
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
REFUSAL TO HONOR CARDS OR CONVENIENCE CHECKS. We are not liable for
You as delinquent without also reporting that You are questioning Your bill. We must
the refusal or inability of merchants, financial institutions and others to accept the
tell You the name of anyone to whom We reported You as delinquent, and We must
Cards or Convenience Checks, or electronic terminals to honor the Cards or complete
let those organizations know when the matter has been settled between Us. If We do
a Card withdrawal, or for their retention of the Cards or Convenience Checks.
not follow all of the rules above, You do not have to pay the first $50.00 of the amount
You question even if Your bill is correct.
TRANSACTION SLIPS. Your monthly statement will identify that merchant, electronic
terminal or financial institution at which transactions were made, but sales, cash
Your Rights If You Are Dissatisfied With Your Credit Card Purchases
advance, credit or other slips cannot be returned with the statement.
If You are dissatisfied with the goods or services that You have purchased with Your
LOST CARDS OR CONVENIENCE CHECKS. To report lost or stolen Credit Cards
Credit Card, and You have tried in good faith to correct the problem with the merchant,
or Convenience Checks, You will immediately call Us at (541) 686-8000 or (800) 445-
You may have the right not to pay the remaining amount due on the purchase. To use
4483 during regular business hours, or (866) 262-9488 after hours, on weekends and
this right, all of the following must be true:
on holidays or write to Us at P.O. Box 7487, Springfield, OR 97475.
1)
The purchase must have been made in Your home state or within 100 miles of
CREDITS. If a merchant who honors Your Card gives You credit for returns or
Your current mailing address, and the purchase price must have been more than
adjustments, they will do so by sending Us a slip which will be posted to Your
$50.00. (Note: Neither of these are necessary if Your purchase was based on
Account. If Your credits and payments exceed what You owe Us, We will hold and
an advertisement We mailed to You, or if We own the company that sold You
apply this credit against future purchases and cash advances, or if it is $1.00 or
the goods or services.)
more refund it on Your written request or automatically deposit it to Your share
2)
You must have used Your Credit Card for the purchase. Purchases made with
account after six months.
cash advances from an ATM or with a check that accesses Your Credit Card
account do not qualify.
GOVERNING LAW. This Agreement is controlled and governed by the laws of the
3)
You must not yet have fully paid for the purchase.
State of Oregon, except to the extent that such laws are inconsistent with controlling
federal law.
If all of the criteria above are met and You are still dissatisfied with the purchase,
contact Us in writing at P.O. Box 7487, Springfield, OR 97475.
Your Billing Rights: Keep this Document for Future Use
While We investigate, the same rules apply to the disputed amount as discussed
This notice tells You about Your rights and Our responsibilities under the Fair
above. After We finish Our investigation, We will tell You Our decision. At that point,
Credit Billing Act.
if We think You owe an amount and You do not pay, We may report You as delinquent.
Copyright Oak Tree Business Systems, Inc., 2019. All Rights Reserved.
Page 4 of 4
OTBS 016CC SELC (8/19)
Rev. (10/19)
SELCO
PRICING INFORMATION ADDENDUM -
COMMUNITY CREDIT UNION
CREDIT CARD ACCOUNT AGREEMENT
925 Harlow Rd., Springfield, OR 97477
AND FEDERAL DISCLOSURE STATEMENT
Phone: 800-445-4483
Interest Rate and Interest Charges
Annual Percentage Rate (APR)
For Purchases
VISA Platinum: 8.75 to 18.00 %
These APRs will vary with the market based on the Prime Rate.
VISA Platinum (with Intro Rate on Balance Transfers):
N/A
%
These APRs will vary with the market based on the Prime Rate.
Secured VISA Platinum:
8.75 to 18.00 %
These APRs will vary with the market based on the Prime Rate.
Annual Percentage Rate (APR)
8.75 to 18.00
VISA Platinum:
%
For Balance Transfers
These APRs will vary with the market based on the Prime Rate.
N/A
VISA Platinum (with Intro Rate on Balance Transfers):
% Introductory APR
for N/A
months
After that Your APR will be
N/A
%, and will vary with the market based on
the Prime Rate.
8.75 to 18.00
Secured VISA Platinum:
%
These APRs will vary with the market based on the Prime Rate.
Annual Percentage Rate (APR)
8.75 to 18.00
VISA Platinum:
%
For Cash Advances
These APRs will vary with the market based on the Prime Rate.
N/A
VISA Platinum (with Intro Rate on Balance Transfers):
%
These APRs will vary with the market based on the Prime Rate.
Secured VISA Platinum: 8.75 to 18.00 %
These APRs will vary with the market based on the Prime Rate.
Paying Interest
Your due date is at least 25 days after the close of each billing cycle. We will not charge You
interest on purchases if You pay Your entire balance owed by the due date each month. We
will begin charging interest on balance transfers and cash advances on the transaction date.
Fees
Set-up and Maintenance Fees
Additional Card Fee
$5.00
Transaction Fees
Foreign Transaction
1.00% of each foreign currency transaction in U.S. Dollars.
1.00% of each U.S. Dollar transaction that occurs in a foreign country.
Penalty Fees
Late Payment
Up to $25.00
Returned Payment
Up to $25.00
How We Will Calculate Your Balance: We use a method called "average daily balance (including new purchases)." See Your
Account Agreement for details.
Billing Rights: Information on Your rights to dispute transactions and how to exercise those rights is provided in Your
Account Agreement.
Copyright Oak Tree Business Systems, Inc., 2019. All Rights Reserved.
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OTBS 016ACC FRB_Wel SELC (8/19)
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FINANCE CHARGES. In the case of any transactions under Your Account, the balances subject to the periodic Finance Charge are the average daily transactions balances
outstanding during the month (including new transactions). To get the average daily balance, We take the beginning balance of Your Account each day, add any new purchases,
balance transfers, cash advances, insurance premiums, debit adjustments or other charges and subtract any payments, credits and unpaid Finance Charges. This gives Us
the daily balance. Then, We add up all the daily balances for the billing cycle and divide them by the number of days in the billing cycle. The Finance Charge for a billing cycle
is computed by multiplying the average daily balance subject to a Finance Charge by the Monthly Periodic Rate.
You can avoid Finance Charges on purchases by paying the full amount of the entire balance owed each month within 25 days of Your statement closing date. Otherwise, the
new balance of purchases, and subsequent purchases from the date they are posted to Your Account, will be subject to a Finance Charge. Balance transfers and cash advances
are always subject to a Finance Charge from the later of the date they are posted to Your Account or from the first day of the billing cycle in which the transaction is posted to
Your Account.
For VISA Platinum (with Intro Rate on Balance Transfers), balance transfer transactions obtained during the N/A
day
period
immediately
following
the
date
that
Your
Account
is established, will accrue finance charges at an introductory Monthly Periodic Rate of N/A
% (corresponding to an ANNUAL PERCENTAGE RATE of
N/A
%) until
N/A
Upon the expiration of the introductory rate period, the entire balance of balance transfers existing at that time and in the future will
accrue finance charges at the non-introductory variable rate described elsewhere in this Agreement.
For VISA Platinum, all balances will be charged finances at a variable Monthly Periodic Rate of 8.75
% 18.00
% (corresponding ANNUAL PERCENTAGE RATE
8.75
% 18.00
%), depending on Your creditworthiness.
For VISA Platinum (with Intro Rate on Balance Transfers), all purchase and cash advance transactions will be charged finances at a variable Monthly Periodic Rate of 8.75
%
- 18.00
% (corresponding ANNUAL PERCENTAGE RATE 8.75
% 18.00
%), depending on Your creditworthiness.
For Secured VISA Platinum, all balances will be charged finances at a variable Monthly Periodic Rate of 8.75
% 18.00
% (corresponding ANNUAL PERCENTAGE RATE
8.75
%
18.00
%), depending on Your creditworthiness.
VARIABLE RATE. For VISA Platinum and Secured VISA Platinum, all transactions are subject to a Variable Rate which is based on the highest Prime Rate as published in the
Money Rates section of the Wall Street Journal in effect on the 15th day of the month that immediately precedes each Change Date ("Index") plus Our Margin. The Index plus the
Margin equals the Interest Rate. Changes in the Index will cause changes in the Interest Rate on the first day of the billing that occurs during the first month of each calendar
quarter ("Change Date").
For VISA Platinum (with Intro Rate on Balance Transfers), all purchase and cash advance transactions are subject to a Variable Rate which is based on the highest Prime Rate
as
published in the Money Rates section of the Wall Street Journal in effect on the 15th day of the month that immediately precedes each Change Date ("Index") plus Our Margin.
The Index plus the Margin equals the Interest Rate. Changes in the Index will cause changes in the Interest Rate on the first day of the billing that occurs during the first month
of each calendar quarter ("Change Date"). Following the expiration of the Introductory Rate period, all balance transfer transactions are subject to a Variable Rate which is based
on the highest Prime Rate as published in the Money Rates section of the Wall Street Journal in effect on the 15th day of the month that immediately precedes each Change Date
("Index") plus Our Margin. The Index plus the Margin equals the Interest Rate. Changes in the Index will cause changes in the Interest Rate for balance transfers on the day the
Introductory Rate period expires, and subsequently, on the first day of the billing that occurs during the first month of each calendar quarter ("Change Date").
For all VISA Cards, increases or decreases in the Interest Rate will cause like increases or decreases in the Finance Charge and will affect the number of Your regularly scheduled
payments. For all VISA Cards, Your Interest Rate will never be greater than 18.00% and will apply to Your remaining principal balance.
For VISA Platinum, the Margin applicable to Your Account will be 4.00
14.00
depending on Your creditworthiness.
For VISA Platinum (with Intro Rate on Balance Transfers), the Margin applicable to Your Account will be N/A
N/A
depending on Your creditworthiness.
For Secured VISA Platinum, the Margin applicable to Your Account will be 4.00
14.00
depending on Your creditworthiness.
Copyright Oak Tree Business Systems, Inc., 2019. All Rights Reserved.
Page 2 of 2
OTBS 016ACC SELC (8/19)
Rev. (10/19)