VERMONT Platinum Card Agreement & Disclosure

IInnttrroodduuccttiioonn..

1. 
This  Credit  Card  Agreement
("Agreement")  and  the  Account  Opening  Disclosure
("Disclosure")  accompanying  this  Agreement  will  gov-
ern your VISA® VERMONT Platinum Credit Card.  In the
Agreement  and  Disclosure,  the  words  "you,"  "your,"
and "yours" mean any person who signs the application
for this Account, any joint obligor, guarantor, author-
ized user, or the person whose name is embossed on the
Card; the words "we," "us," "our," and "credit union"
mean  VSECU  and  anyone  to  whom  the  credit  union
transfers  this  Agreement;  the  word  "Card"  means  any
one or more credit cards and any duplicates, renewals,
or  substitutions  issued  under  the  credit  union's  Card
program;  and  the  word  "Account"  means  your  VISA
revolving  line  of  credit  account  with  the  credit  union.
Use  of  your  Card(s)  is  your  acknowledgment  that  you
have received the Card(s) and are bound by the terms
and  requirements  set  forth  in  the  Agreement  and
Disclosure.

2. AAccccoouunntt//CCaarrdd  UUssee.. If you are approved for an Account,
we  will  establish  a  revolving  line  of  credit  for  you  and
notify you of your credit limit. You agree that your cred-
it limit is the maximum amount you have outstanding
on  your  Account  at  any  time.  We  reserve  the  right  to
increase or decrease your line of credit at any time for
any  reason.  Any  increase  or  reduction  in  the  limit  of
your line of credit will be shown on your monthly state-
ment or by separate notice together with any changes in
the applicable minimum monthly payment. To request
an increase in your credit limit, contact us at 802/800
371-5162.  We  have  the  right  to  refuse  to  make  an
advance and/or terminate your Account at any time for
any reason not prohibited by law.

You  may  use  your  Card  to  make  purchases  from  mer-
chants and others who accept your Card up to the full
amount of your credit limit. We are not responsible for
merchants or other financial institutions that refuse to
honor your Card. You may obtain cash advances from
us or from other financial institutions that accept your
Card;  and  to  access  your  Account  through  balance
transfers  of  credit  card  balances  from  other  financial
institutions.

You  can  also  obtain  cash  advances  from  participating
Automatic  Teller  Machines  (ATMs)  that  accept  your
Card. To obtain cash advances from an ATM, you must
request a Personal Identification Number (PIN) for use
with your Card. At such times, use of your PIN will be
your  signature  for  the  purpose  of  requesting  a  cash
advance.  If  you  use  your  Card  at  an  ATM  that  is  not
operated  by  VSECU,  you  may  be  charged  a  fee  by  the
operator  of  the  machine,  and/or  by  an  automated
transfer  network,  and,  you  may  be  charged  for  a  bal-
ance inquiry even if you do not complete a transfer.

If  you  use  your  Card  to  purchase  instruments  or  per-
form  transactions  that  we  consider  the  equivalent  of
cash,  they  will  be  posted  to  your  Account  as  Cash
Advances. The transactions we consider the equivalent
of cash include but are not limited to: balance transfers,
wire  transfers,  money  orders,  bets,  lottery  tickets,  and
casino gaming chips. This paragraph shall not be inter-
preted as permitting or authorizing illegal transactions.
We  reserve  the  right  to  refuse  any  transaction  that
would draw upon non-sufficient funds.  

3. PPrroommiissee  ttoo  PPaayy.. You promise to pay all charges (pur-
chases, cash advances, balance transfers and any other
charges) to your Account that are made by you or any-
one you authorize to use your Account. You also prom-
ise to pay all interest charges and other charges added
to your Account under the terms of this Agreement or
another  agreement  you  have  with  us.  If  this  is  a  joint
account,  Section  21  below  also  applies  to  you  and
your Account. Your obligation to pay the Account bal-
ance  continues  even  though  an  agreement,  divorce,
decree, or other Court order to which we are not a party
may direct you or one of the other persons responsible,
to pay the Account. 

4.  PPeerriiooddiicc   RRaatteess.. The  Disclosure  included  within  this
Agreement lists periodic rates applicable to purchases,
cash  advances,  and  balance  transfers.  These  rates  are
variable as indicated in the Disclosure. 

5. IInntteerreesstt  CChhaarrggeess.. The total outstanding balance of pur-
chases,  cash  advances,  and  balance  transfers  on  the
closing  date  of  a  billing  cycle,  including  any  Interest
Charge will be shown on the monthly statement for that
billing cycle as the "New Balance."

a. Purchases. An Interest Charge will be imposed on
the portion of purchases included in the New Balance
that remains unpaid 25 days after the closing date. 
This "grace period" allows you to avoid an Interest 
Charge on purchases for a billing cycle. If you do not
pay your purchase transactions within the grace
period, your Interest Charge will accrue from the date
purchases are posted to your Account.

b. Cash Advances and Balance Transfers. An 
Interest Charge will be imposed on cash advances 
and balance transfers from the date each 
advance/transfer is made to the date paid. There
is no grace period for cash advances or balance
transfers. Balance transfers will be included in the
Cash Advance totals on your monthly statement. 

We figure the interest charge on your account by apply-
ing the periodic rate to the "average daily balance" of
your  account.  To  get  the  "average  daily  balance"  we
take  the  beginning  balance  of  your  account  each  day,
add  any  new  purchases  and  cash  advances  (including
balance transfers,) and subtract any payments or cred-

its. This gives us the daily balance. Then, we add up all
the  daily  balances  for  the  billing  cycle  and  divide  the
total by the number of days in the billing cycle. This gives
us the "average daily balance."  Fees are not included in
the  calculation  of  the  average  daily  balance.  Interest
charges  will  continue  to  accrue  on  your  Account  until
what you owe under this Agreement is paid.

6.  FFoorreeiiggnn   TTrraannssaaccttiioonnss.. Purchases  and  cash  advances
made in foreign countries and foreign currencies will be
billed to you in U.S. dollars. The conversion rate to dol-
lars for VISA Accounts will be at (i) the wholesale market
rate or (ii) the government-mandated rate, whichever is
applicable, in effect 1 day prior to the processing date. A
fee calculated in U.S. dollars, will be imposed on all for-
eign  transactions,  including  purchases,  cash  advances
and credits to your Account. A foreign transaction is any
transaction that you complete or a merchant completes
on your Card outside the United States, with the excep-
tion  of  U.S.  military  bases,  U.S.  territories,  U.S.
embassies or U.S. consulates. 

7. OOtthheerr  CChhaarrggeess.. The following charges will be added to
your Account in addition to the periodic rate, if applica-
ble.  The  charges  and  explanations  are  included  within
the Disclosure in this Agreement. 

a. Late Payment. If we have not received at least the 
minimum payment at the address designated on 
the statement within 5 days of the Payment Due 
Date, a fee will be charged.

b. Foreign Transaction. For transactions made out

side of the U.S. or in a foreign currency, a fee will be
charged.

c. Replacement Card. If your Card is lost or stolen, 

or if for some other reason you request a new card
be issued, you will be charged a fee for each 
replacement card.

d. Stop Payment/Revocation of Authorization. This 
will be charged to your Account for each stop
payment/revocation of authorization (or update of 
such request) placed on a preauthorized payment.

e. Collection Costs. You agree to pay all costs of
collecting the amount you owe under this 
Agreement, including but not limited to, court 
costs and reasonable attorney fees.

8.  PPaayymmeennttss.. The  minimum  payment  is  3.00%  of  your
New Balance, but not less than $25.00, plus the amount
of  any  prior  minimum  payments  that  you  have  not
made, and any amount you are over your credit limit. In
addition to the minimum payment, you must also pay,
by the payment due date, the amount of any prior mini-
mum payment(s) that you have not made, all outstand-
ing  unpaid  fees  and  charges,  and  any  amount  you  are
over your credit limit. You agree to pay at least the min-
imum payment shown on your monthly statement by the
date specified on the statement or no later than 25 days
from the statement closing date, whichever is later. We
have  the  right  to  demand  immediate  payment  of  any
amount by which you are over your credit limit.  

9. CCrreeddiittiinngg  PPaayymmeennttss.. Payments are due by 5:00 pm EST,
Monday through Friday (except holidays) via mail at the
address  on  your  statement,  in  person  or  online.
Payments received after 5:00 pm EST, or those received
on a non-business day or via mail slot at the credit union
are applied on the next business day.

10. PPaayymmeenntt  AAllllooccaattiioonn.. Your minimum payment may be
applied to what you owe the credit union in any man-
ner the credit union chooses.  If you make a payment in
excess  of  the  required  minimum  payment,  the  credit
union will apply the excess amount first to the balance
with the highest APR and any remaining portion to the
other balances in descending order based on APR.

11. SSeeccuurriittyy  IInntteerreesstt.. You give us a security interest under
the Uniform Commercial Code and under any common
law  rights  we  may  have  in  any  goods  purchased  using
your Account. You give us a security interest in all your
savings, deposit accounts, and certificates in which you
have an interest, now and in the future, as security for
all  credit  advances  made  under  this  Agreement.
Collateral  securing  other  loans  you  have  with  us  may
also secure this loan. You agree, upon default, we may
apply all that is secured to pay any amounts due under
this  Agreement,  without  further  notice  to  you.  This
security interest will not apply to retirement accounts or
to loans secured by real property or a dwelling. 

If  you  secure  this  Account  using  funds  from  another
account  of  yours  with  us,  you  may  not  withdraw
amounts  that  have  been  pledged  to  secure  your
Account  until  we  agree  to  release  all  or  part  of  the
pledged funds.

RRiigghhttss  ttoo  YYoouurr  SSaavviinnggss  aanndd  DDeeppoossiittss
When you are in default, you give us a security inter-
est in all present or future savings or deposits in the
credit  union  excluding  those 
in  an  Individual
Retirement Account and any other account that would
lose special tax treatment under federal law if given as
security. In the event of default, this security interest
specifically  gives  us  the  right  to  deduct  money  from
any  deposit  account(s)  you  have  with  us  (excluding
those specified above) and apply it towards payment
of any money you owe us for any minimum monthly
payment  due,  or  the  entire  outstanding  balance  if  it
has become due for any reason.

12. DDeeffaauulltt.. You will be in default if: (1) you fail to make
any  minimum  payment  or  other  required  payment  by
the date that it is due; (2) you break any promise you
make under this Agreement; (3) you die, file for bank-
ruptcy or become insolvent, that is, unable to pay your
obligations  when  they  become  due;  (4)  you  make  any
false or misleading statements in any credit application
or credit update; (5) something happens that the cred-
it union believes may substantially reduce your ability to
repay what you owe; or (6) you fail to maintain active
membership in the credit union. Upon default, we have
the  right  to  demand  immediate  payment  of  your
Account balance without giving you notice. If immedi-
ate payment is demanded, you agree to continue paying
a  interest  charge,  at  the  periodic  rate  charged  before
default,  until  what  you  owe  has  been  paid,  and  any
pledged  funds  that  were  given  as  security  for  your
Account may be applied towards what you owe.

13. LLiiaabbiilliittyy  ffoorr  UUnnaauutthhoorriizzeedd  UUssee//LLoosstt  CCaarrdd  NNoottiiffiiccaattiioonn.. You
may  be  liable  for  the  unauthorized  use  of  your  Card.
You agree to notify us immediately of the loss, theft or
unauthorized  use  of  your  Card,  orally  by  calling
802/800 371-5162 or by writing us at the address list-
ed  on  your  bill.  If  you  notify  us  of  your  lost  or  stolen
Card,  you  may  not  be  liable  for  any  losses  related  to

unauthorized  transactions.  This  zero  liability  limit  will
apply only if: (i) you have exercised reasonable care in
safekeeping your Card from risk of loss or theft; (ii) you
have  not  reported  two  or  more  incidents  of  unautho-
rized use to us within the preceding 12 months; and (iii)
your Account is in good standing. This liability limit will
apply, provided you: i) did not receive a benefit; ii) the
unauthorized use of your Card was by someone without
actual,  implied  or  apparent  authority  from  you;  or  iii)
you were not grossly negligent or fraudulent in handling
your Card. Transactions not covered under the zero lia-
bility are PIN transactions not processed by VISA.

You  will  not  be  liable  for  any  unauthorized  use  that
occurs after you notify us. You may, however, be liable
for unauthorized use that occurs before your notice to
us, not to exceed $50.00.

14.    CChhaannggiinngg  oorr  TTeerrmmiinnaattiinngg  YYoouurr  AAccccoouunntt.. From  time  to
time,  we  may  change  the  terms  of  this  Agreement
including the APRs within the Disclosure. Notice of any
change will be given in accordance with applicable law.
Use of your Card after receiving notice of a change will
indicate your agreement to the change. If permitted by
law and specified in the notice to you, the change will
apply  to  your  existing  Account  balance  as  well  as  to
future transactions. Either you or the credit union may
terminate this Agreement at any time, but termination
by you or by us will not affect your obligation to pay the
Account  balance  plus  any  interest  and  other  charges
you owe under this Agreement. Your obligation to pay
the  Account  balance,  plus  any  interest  and  other
charges you owe us under this Agreement, are subject
to  applicable  laws  and  repayment  requirements.  You
are  also  responsible  for  all  transactions  made  to  your
Account after termination, unless the transactions were
unauthorized. The Card(s) you receive remain the prop-
erty of the credit union and you must recover and sur-
render your Card(s) to us upon request or upon termi-
nation  of  this  Agreement,  whether  by  you  or  by  us.  If
this  is  a  joint  account,  Section  21  of  this  Agreement
also applies to termination of the Account.

15.  CChhaannggiinngg   oorr   TTeerrmmiinnaattiinngg   AAuutthhoorriizzeedd   UUsseerrss.. Upon  your
request,  we  may  issue  additional  cards  to  authorized
users you designate. You must notify us in writing of the
termination of an authorized user’s right to access your
Account.  Your  letter  must  include  the  name  of  the
authorized user, your Account number, and the author-
ized  user’s  Card.  If  you  cannot  return  the  authorized
user’s Card and if you request your Account be closed,
we will close your Account and you may apply for a new
account.

16.  IInnaaccttiivviittyy.. We  reserve  the  right  to  terminate  the
Account if there are no transactions in 1 year.

17.  NNoonn--AAccttiivvaattiioonn.. If your Account is not activated with-
in 60 days, we reserve the right to cancel the Account.

18.  CCrreeddiitt   IInnffoorrmmaattiioonn   aanndd   RReelleeaassee   ooff   IInnffoorrmmaattiioonn..   You
authorize us to obtain your credit standing when open-
ing or reviewing your Account. You authorize us to dis-
close  information  regarding  your  Account  to  credit
bureaus and other creditors with a bona fide interest in
the information. 

19. RReettuurrnnss  aanndd  AAddjjuussttmmeennttss.. Merchants and others who
honor your Card may give credit for returns or adjust-

ments by sending us a credit slip which will be posted to
your Account. If your credits and payments exceed what
you owe us, the amount will be applied to future pur-
chases and cash advances. If the credit balance amount
is $1.00 or more, it will be refunded upon your written
request or automatically after 6 months.

20.  AAddddiittiioonnaall  BBeenneeffiittss//CCaarrdd  EEnnhhaanncceemmeennttss.. We may offer
additional services to your Account, such as travel acci-
dent insurance, at no additional cost to you. You under-
stand  that  we  are  not  obligated  to  offer  such  services
and may withdraw or change them at any time.

21.  JJooiinntt  AAccccoouunnttss.. If this is a joint account, each of you
will be individually and jointly responsible for paying all
amounts owed under this Agreement. This means that
we  can  require  any  of  you  individually  to  repay  the
entire amount owed under this Agreement. Each of you
authorizes  the  other(s)  to  make  purchases  or  cash
advances individually. Any one of you may terminate the
Account and the termination will be effective for all of
you.

22.  MMeerrcchhaanntt   DDiissppuutteess.. We  are  not  responsible  for  the
refusal  by  any  merchant  or  financial  institution  to
honor your Card. We are subject to claims and defens-
es (other than tort claims) arising out of goods or serv-
ices  you  purchase  with  the  Card  if  you  have  made  a
good faith attempt but have been unable to obtain sat-
isfaction from the merchant or service provider. Refer to
the  section  “Your  Billing  Rights  -  Your  Rights  if  You
Are  Dissatisfied  With  Your  Credit  Card  Purchases”
within this Agreement for additional information about
merchant disputes. 

23. IIlllleeggaall  CCaarrdd  UUssee.. You agree not to use your Card(s) for
illegal purposes or transactions, including but not lim-
ited to, illegal gambling. You may not use your Card for
the  purchase  of  any  goods  or  services  on  the  Internet
that  involve  gambling  of  any  sort.  In  the  event  that  a
charge or transaction that is deemed illegal is approved
and  posted,  you  will  still  be  responsible  for  such
charges.

24.  FFrraauudd   PPrrootteeccttiioonn.. We  may  temporarily  block  your
card,  without  advance  notice,  if  charges  appear  to  be
suspicious.  To  ensure  you  have  access  to  your  Card
while traveling, call 802/800 371-5162 to let us know
where you are traveling and the duration of your trip.

25.  EEffffeecctt   ooff   AAggrreeeemmeenntt.. This  Agreement  is  the  contract
which applies to all transactions on your Account even
if the sales, cash advances, credit or other slips you sign
or receive contain different terms.

26. NNoo  WWaaiivveerr.. We can delay enforcing any of its rights
any number of times without losing them.

27.  SSttaatteemmeennttss   aanndd   NNoottiicceess.. Statements  and  notices  will
be considered effective when they are delivered person-
ally to you or mailed, postage paid, to the most recent
address on file with us. It is your responsibility to notify
us in writing of any change of address. Notice from you
will be considered effective when we receive it. If this is
a joint account, we can notify one of you and the notice
will be effective for all of you. Also, one of you can noti-
fy  us,  and  we  will  consider  it  to  be  notice  from  all  of
you.

28. SSeevveerraabbiilliittyy  aanndd  FFiinnaall  EExxpprreessssiioonn.. This Agreement is the
final expression of the terms and conditions of this line
of  credit  between  you  and  us.  This  written  Agreement
may not be contradicted by evidence of any alleged oral
agreement.  If  any  part  of  this  Agreement  or  the
Disclosure  is  found  to  be  invalid  or  unenforceable,  all
other parts of this Agreement and Disclosure remain in
effect and fully enforceable under this Agreement.

29. VVoolluunnttaarryy  PPaayymmeenntt  PPrrootteeccttiioonn.. We may offer voluntary
payment protection to you. This protection is not nec-
essary to obtain credit. If you choose to purchase this
protection,  you  authorize  us  to  add  the  fees  or  insur-
ance charges monthly to your loan balance and charge
you interest on the entire balance. If the cost changes,
we will provide any notices required by applicable law.
We may change your payment or the period of time nec-
essary to repay the loan balance, if needed.

30.  SSiiggnnaattuurreess.. By  signing,  using  or  permitting  another
party  to  use  the  Card  issued  to  you,  you  agree  to  be
bound by the terms and conditions of this Agreement.

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. 

What to Do if You Think You Find a Mistake on Your
Statement
If you think there is an error on your statement, write to
us at: VSECU, PO Box 67, Montpelier, VT 05601-0067.

In your letter, give us the following information:

(cid:79) Account Information: Your name and Account number.
(cid:79) Dollar amount: The dollar amount of the suspected 

error.

(cid:79) 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:

(cid:79) Within  60  days  after  the  error  appeared  on  your

statement.

(cid:79) 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 or
electronically. 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. 

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 why we believe 
the bill was correct.

While we investigate whether or not there has been an
error, the following are true: 

(cid:79) We cannot try to collect the amount in question or

report you as delinquent on that amount. 
(cid:79) The charge in question may remain on your

statement, and we may continue to charge you 
interest on that amount.

(cid:79) While you do not have to pay the amount in

question, you are responsible for the remainder of
your balance.

(cid:79) We can apply any unpaid amount against your 

credit limit.

After we finish our investigation, one of two things will
happen:

(cid:79)

(cid:79)

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  delin-
quent, 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 $50.00 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 mer-
chant, you may have the right not to pay the remaining
amount due on the purchase.
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 $50.00. 
(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 dis-
satisfied  with  the  purchase,  contact  us  in  writing  at:
VSECU, PO Box 67, Montpelier, Vermont 05601-0067.

While we investigate, the same rules apply to the disput-
ed  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.

Account Opening Disclosure

Interest Rate and Interest Charges
Annual Percentage Rate (APR) for Purchases 6.50%1 

APR for Cash Advances

APR for Balance Transfers

Penalty APR and When it Applies

Paying Interest

Minimum Interest Charge

For Credit Card Tips from the Federal
Reserve Board

Vermont Based Rate or 10.50% Standard Rate;

these APRs will vary with the market based on the Prime Rate.
10.50% Standard Rate; this APR will vary with the market
based on the Prime Rate.
10.50% Standard Rate; this APR will vary with the market
based on the Prime Rate.
None

Your due date is at least 25 days after the close of each billing
cycle. We will not charge you any interest on purchases if you pay
your entire balance by the Payment Due Date each month. We will
begin charging interest on Cash Advances and Balance Transfers
on the transaction date.
None

To learn more about factors to consider when applying for or using
a credit card, visit the website of the Federal Reserve Board at
www.federalreserve.gov/creditcard

Fees
Set-up and Maintenance Fees  Annual Fee None
None
Transaction Fees
None
1.00% of each transaction in U.S. dollars.
Up to $25.00
None

Balance Transfer
Cash Advance
Foreign Transaction
Late Payment
Over-the-Limit

Penalty Fees

1 The Vermont Based Rate will apply to purchases iden-
tified  by  the  merchant's  processing  state  code.  This  is
contingent on how a merchant has set up their process-
ing system and if they use a Vermont state code within
their address for transactions processed by them. If the
"Description"  on  your  statement  for  a  purchase  has  a
Vermont state code in it, the Vermont Based Rate will
apply  to  that  purchase.  For  example,  a  description  of
ABC  Company,  Burlington,  VT  would  receive  the
Vermont  Based  Rate;  whereas  a  description  of  ABC
Company, Newark, NJ would receive the Standard Rate.

How  We  Will  Calculate  Your  Balance:  We  use  a
method called “average daily balance.” Refer to the sec-
tion “Interest Charges” within the Agreement for more
information.

Billing  Rights: Information  on  your  rights  to  dispute
transactions and how to exercise those rights is provid-
ed within the Agreement.

OOtthheerr  DDiisscclloossuurreess
Late Payment:  Greater of:  $20.00 or 5.00% of mini-
mum payment, not to exceed $25.00.
Replacement Card: $10.00 standard; $40.00 expedit-
ed.
Stop  Payment/Revocation  of  Authorization:    $18.00
(initial request); $1.50 (update to initial request).

Periodic Rates: The Vermont Based Rate for Purchases
is  6.50%1 APR  which  is  a  monthly  periodic  rate  of
.5417%.  The  Standard  Rate  for  Purchases,  Cash
Advances and Balance Transfers is 10.50% APR which
is a monthly periodic rate of .8750%. 

Variable  Rate: APRs  may  vary  and  are  determined  by
adding a "Margin" to the "Index" (the National Prime
Rate  published  in  the  Wall  Street  Journal.)  The  Index
will be adjusted on the 10th day of each month or the
business day preceding the 10th day if that day falls on
a  weekend  or  a  holiday  recognized  by  the  Federal
Reserve Bank. Any increase or decrease in an APR may
result in an increase or decrease in the amount of your
minimum monthly payment. 

Margins: Vermont Based Rate — A margin of 3.25% is
added to the Index. Standard Rate — A margin of 7.25%
is added to the Index. 

Voluntary Payment Protection: We may offer voluntary
payment protection to you. This protection is not nec-
essary  to  obtain  credit.  For  more  information,  please
refer  to  the  section  "Voluntary  Payment  Protection"
within  the  Agreement  or  contact  us  at  802/800  371-
5162.

Collection  Costs: You  promise  to  pay  all  costs  of  col-
lecting  the  amount  you  owe  under  the  Agreement,
including but not limited to, court costs and reasonable
attorney fees.

Effective  Date: The  information  in  this  Agreement  is
accurate  as  of  June  15,  2011.  This  information  may
have  changed  after  that  date.  To  find  out  what  may
have changed, contact us at 802/800 371-5162.

Vermont State Employees Credit Union
One Bailey Avenue, PO Box 67
Montpelier, VT  05601-0067

Federally
insured
by NCUA

Equal
Opportunity
Lender

PLEASE RECYCLE

PC#2213  110510  
eff: 06/11
Printed on recycled paper