VISA BUSINESS CREDIT CARD AGREEMENT AND DISCLOSURE

INTRODUCTION. This Business VISA Platinum Credit Card Account Agreement and Disclosure (“Agreement”) will govern your Business VISA Platinum Credit
Card  and  account (“Account”) issued by Rogue Credit Union (“Lender”). In  connection with this Agreement, the Lender may require you to sign a Business
membership Visa Account Supplemental Agreement and Designation of Authorized Employees (“Supplemental Agreement”). The Supplemental Agreement is
incorporated  onto  and  a  part  of  this  Agreement.  In  this  Agreement,  the  words  “you,”  “yours,”  “applicant,”  and  “Borrowers”  mean  the  Borrower  and  any
person  or  organization  who  executes  the  application  or authorization  for  this  Account,  any  joint  obligor,  guarantor,  authorized  user  or  the  person  whose
name is embossed on  the card. The words “we,” “us,” “our,” and “Lender” means Rogue Credit Union. The word “Card” means any one or more credit cards
issued under this Account. If you sign an application for this account or sign or use any card or PIN, or allow others to use the card or PIN, you and they will
have accepted this agreement just as if you and they signed it, and you and they, jointly and severally, will be bound by the following terms  and  conditions
which will govern this account.
1. PURCHASES AND CASH ADVANCES. You must sign the Card to use it. Once you have signed the Card, you can use it to buy or lease goods, services, or
insurance wherever the Card is honored, up to the full amount of your credit line. You may use your Account to get cash advances from us. You may also use
your Card to get a cash advance from participating financial institutions and designated automatic teller machines. You may not use the Card for any illegal
or unlawful transaction, and we may decline to authorize any transaction that we believe may be illegal or unlawful.
2. OVERDRAFT PROTECTION. If we  approve overdraft protection, you may access your line of credit account by overdrawing your checking  account. We will
treat any overdraft item as a request for a loan  advance on your line of  credit account. Overdraft transfers will be made in  amounts sufficient to cover the
overdrawn  item.  You  understand  that  any  owner  on  your  checking  account  may  obligate  you  to  repay  overdraft  advances  by  overdrawing  the  checking
account.
3. VISA CHECKS. If  we  approve,  you  may  obtain  advances  under  your  account  by  writing  preprinted  loan  checks  that  we  supply  to  you.  Your  use  of  loan
checks will be shown as credit advances on your monthly statement. We may not honor your loan check if your check is postdated, payment of the check will
exceed your credit limit, a check is signed by a person without authorized access, the amount of the check is less than the minimum required amount, your
account has been terminated or suspended, or any checks have been reported lost or stolen. You may stop payment on a loan check if you provide us with
the exact information describing the check. If you give us incorrect information, we will not be responsible for failing to stop payment. You understand there
may be a charge for loan check printing and charges for stop payment requests, returned items, check copies, and other fees or costs we incur in handling
your  loan  checks.  Our  liability  for  a  wrongful  dishonor  is  limited  to  your  actual  losses;  however,  a  dishonor  for  the reasons  stated  above  is  not  a  wrongful
dishonor.
4. YOU PROMISE TO PAY. You promise to pay us all such amounts, plus any FINANCE CHARGES, which arise from use of the Card or Account by you or any
other  person,  and  to be  jointly  and  severally  liable  with  such  a  person,  unless  such  other  person  does  not  have  actual,  implied, or  apparent  authority  for
such  use,  and  you  received  no  benefit  from  the  use.  You  promise  to  pay  us  either  by  direct  payment  or  by  automatic  transfers  from  shares  or  payroll
deduction.
5. CREDIT  LINE. If  your  application  is  approved  by  us,  this  Agreement  will  constitute  a  revolving  line  of  credit  for  an  amount  which  will  be  the  credit  line
under your Account.
We will advise you  of the amount of your credit line. That amount will be the maximum amount you may have outstanding at any  one time. You  agree not to
attempt  to  obtain  more  credit  than  the  amount  of  your  credit  line.  However,  if  you  temporarily  exceed  your  credit  line,  you  agree  to  repay  the  excess
immediately, even if we have not yet billed you. Obtaining such credit  does not increase your credit line and if you exceed your Credit Limit repeatedly, we
may suspend your credit privilege under this Agreement. We retain the right to increase or decrease your credit line at any time for any reason. Any increase
or  reduction  on  the  limit  of  your  credit  line  will  be  shown  on  your  monthly  statement  or by  separate  notice  together  with  any  changes  in  the  applicable
minimum  monthly  payments.  Your  eligibility  for  this  credit  line  is  determined  by  our  loan  policy  and  may  be  terminated  at  our  sole  discretion,  without
demand or notice. You may close your credit line at any time by notifying us in writing and returning all Cards cut in half. If you terminate this Agreement or if
we terminate or suspend your  credit privileges, the provisions of this Agreement and your liability hereunder shall otherwise remain in full force and  effect
until you have paid us all sums due under this Agreement and returned all Cards.
6. MINIMUM  MONTHLY  PAYMENT. You  agree  that  you  will  pay  each  month  not  less  than  the  minimum  monthly  payments  on  or  before  the  scheduled
monthly  due  date.  Minimum  monthly  payments  include  all  amounts  past  due,  late  charges,  any  amount  in  excess  of  your  credit  line  and  the  minimum
regular  payment.  Your  minimum  regular payment  will  be  2%  of  your  New  Balance  rounded  to  the  nearest  dollar  or  $25,  whichever  is  greater.  If  your
outstanding balance is $25 or less, you agree to pay  the balance in full. You may pay in  full for all your purchases  and  cash  advances each month, or you
may repay in monthly installments. We can accept late payments or partial payments, or checks, drafts, and money orders marked “payment in full,” without
prejudice to our rights under this Agreement, which are hereby explicitly reserved. Payments made to your account will be applied in the following order: Fees
and FINANCE CHARGES; Previously Billed Purchases; Cash Advances; New Purchases.
7. SECURITY INTEREST. By signing your Application, to secure your  account, you  granted us a purchase money security interest under the Oregon Uniform
Commercial Code in any goods you purchase through your Account. If  you default, we will have the right to recover any of these goods which have not been
paid  for  through  application  of  your payments in  the  manner  described  in  Section  6.  In  addition,  you  granted  us a  security  interest  in  all  your  shares  and
deposits, present and future, and all accounts (except Individual Retirement Accounts and Keogh Accounts) with us to secure your account and agree, upon
default,  we  may  apply  all  that  is  secured  to  pay  any  amounts  due  under this  agreement,  without  further  notice  to  you.  You  further  agree  that  collateral
securing other loans with us (except loans secured by real property) also secure this account.
8. MONTHLY  STATEMENTS. Each  month  we  will  send  you  a  statement  showing  purchases,  cash  advances,  payments,  and  credits  made  to  your  Account
during  the  billing  cycle,  as  well  as  your  “New  Balance,”  any  FINANCE  CHARGE  and  any  late  charge  or  other  charges.  Your  statement  also  will  identify  the
minimum monthly payment you must make for that billing period  and  the date it is due. You agree to retain  for  statement verification  copies of transaction
slips  resulting  from  each  purchase,  each  advance,  and  other  transaction  on  your  Account.  Unless  you  notify  us  of  a  billing  error  in  accordance  with  the
section entitled “Your Billing Rights”, you accept your monthly statement as an accurate statement of your Account with us.
9. CIRCUMSTANCES  UNDER  WHICH  A  FINANCE  CHARGE  WILL  BE  IMPOSED. The  total  outstanding  balance  of  purchases  and  cash  advances  in  the
Account  on  the  closing date  of  a  billing  cycle,  including  any  FINANCE  CHARGE  will  be  shown  on  the  Periodic  Statement  for  that  billing  cycle  as  the  “New
Balance.”
a. Cash  Advances.  A  FINANCE  CHARGE  will  be  imposed  on  cash  advances  from  the  date  made  or  from  the  first  day  of  the  billing  cycle  in  which  the  cash
advance is posted to your account, whichever is later, and will continue to accrue until the date of payment.
b. Purchases.  A  FINANCE  CHARGE  will  be  imposed  on  credit  purchases  only  if  you  elect  not  to  pay  the  entire  New  Balance  of  purchases  shown  on  your
monthly statement for the  previous  billing  cycle  within  25  days  from  the  closing  date  of  that  statement.  If  you  elect  not  to  pay  the  entire  New  Balance  of
purchases shown on your previous monthly statement within that 25 day period, a FINANCE CHARGE will be imposed on the unpaid average daily balance of
such credit purchases from the previous statement closing date  and  on  new  credit  purchases from  the  date  of  posting  to your  account  during  the  current
billing cycle, and will continue to accrue until the closing date of the billing cycle preceding the date on which the entire New Balance of purchases is paid in
full or until the date of payment if more than 25 days from the closing date.
10. METHOD  USED  TO  DETERMINE  THE  BALANCE  ON  WHICH  THE  FINANCE  CHARGE  MAY  BE  COMPUTED. The  FINANCE  CHARGE  for  a  billing  cycle  is
computed by applying the monthly Periodic Rate to the average daily balance of cash advances and credit purchases, which are determined by dividing the
sum  of  the  daily  balances  during  the billing  cycle  by  the  number  of  days  in  the  cycle.  Each  daily  balance  of  cash  advances  and  credit  purchases  is

© 2015 Farleigh Wada Witt/Rogue Credit Union

1

December 2016

VISA Business Credit Card Account Agreement and Disclosure

RRogue Credit Union

determined by adding to the outstanding unpaid balance of cash advances and credit purchases at the beginning of the billing cycle any new cash advances
and  credit  purchases posted  to  your  account  and  subtracting  any  payments  as received  and  credits  as  posted  to  your  account, but excluding  any  unpaid
FINANCE CHARGES.
11. METHOD OF DETERMINING THE AMOUNT OF FINANCE CHARGE. Any FINANCE CHARGE shown on your monthly statement is determined as follows: We
figure the FINANCE CHARGE on your Account by applying the Periodic Rate to the “Average Daily Balance” of your Account.
12. PERIODIC RATE AND CORRESPONDING ANNUAL PERCENTAGE RATE. The Periodic Rate and  corresponding ANNUAL PERCENTAGERATE that is used to
compute the FINANCE CHARGE is variable. The ANNUAL PERCENTAGE RATE is based on an index which is the highest Wall Street Prime Rate as of the last
day of the month as published in The Wall Street Journal (Western Edition) from time to time. To determine the ANNUAL PERCENTAGE RATE, we add a margin
of  6.25  percentage  points  to  the  index.  The  rate  can change  monthly  effective  the  first  day  of  the  billing  cycle.  Any  increase  or  decrease  in  the  ANNUAL
PERCENTAGE  RATE  will  affect  the  number  of  monthly  payments  you  may  have  to  make.  The  initial  periodic  rate  and  ANNUAL  PERCENTAGE  RATE  will  be
provided to you with your Card.
13. CONDITIONS UNDER WHICH OTHER CHARGES MAY BE IMPOSED.
a.  Returned  Check  Charge.  A  $25  charge  will  be  made  when  a  check  submitted  by  you  for  payment  on  an  account  is  returned  to  us,  regardless  of  the
reason.
b. Research and Copying. If you ask us to examine your account or provide copies of documents, except in resolution of a billing error, we may charge you $5
for each copy.
c. Late Fee. If any payment is past due for a period of 10 days, a late fee of $25 may be imposed.
d. Replacement Card Fee. A $5 charge per card may be imposed for each additional or replacement card you request.
e. Additional PIN Fee. A $2 charge per personal identification number (PIN) may be imposed for each additional PIN you request.
f. Card Retention Fee. A $65 fee will be imposed if your card is retained by a merchant and the Credit Union is charged for the recovery of the card to the
extent allowed by applicable law.
g. Attorney’s Fee. We may impose the following fees and charges on your Account. If you default on any part of this Agreement, you agree to pay us all costs
to collect your Account, including court costs and reasonable attorney fees whether or not there is a lawsuit, and fees on any appeal and fees for bankruptcy
proceedings, appeals, and any post -judgment collection services, if applicable.
14. CONDITIONS OF CARD USE. The use of your Card and Account are subject to the following conditions:
a  Ownership  of  Cards. Any  Card  or  other  credit instrument  or  device  which we  supply  to  you  is  our  property  and  must be returned  to  us,  or  to  any  person
whom  we  authorize  to act  as  our  agent,  or  to  any  person  who  is  authorized  to  honor  the  Card,  immediately  according  to  instructions.  The  Card  may  be
repossessed at any time in our sole discretion without demand or notice. You cannot transfer your Card or Account to another person.
b. Honoring  the  Card.  Neither  we  nor  merchants  authorized  to  honor  the  Card  will  be  responsible  for  the  failure  or  refusal  to  honor  the  Card  or  any  other
credit instrument or device we supply to you. If a merchant agrees to give you a refund or adjustment, you agree to accept a credit to your Account in lieu of
a cash refund.
c. Currency Conversion/Foreign Transaction Fee. Purchases and cash advances made in foreign countries will be billed to you in U.S. dollars. The currency
conversion  rate  for international  transactions  as  established  by  VISA  International,  Inc.  is  a  rate  selected  by  VISA  from  the  range  of  rates  available  in
wholesale currency markets for the applicable central processing date, which rate may vary from the rate VISA itself receives, or the government- mandated
rate in effect for the applicable central processing date. In addition, you will be charged a Foreign Transaction Fee of up to 1% of the transaction amount for
any card transaction made in a foreign country.
d. Notices  and  Payments.  All  notices  will  be  sent  to  your  address  as  shown  in  the  application.  You  agree  to  advise  us  promptly  if  you  change  your  mailing
address.  All  payments should  be  mailed  to  us  at  the  remittance  address  shown  on  your  monthly  statements.  Payments  received  at  that  address  will  be
credited to your Account as of the date received.
e. Personal Identification Number. We will issue you a Personal Identification Number (“PIN”) for use with your Card at VISA NET automatic teller machines
(“ATMs”). These numbers are issued to you for your security purposes. These numbers are confidential and should not be disclosed to third parties. You are
responsible for  safekeeping your PIN. You agree not to disclose or otherwise make available your PIN to anyone not authorized to sign on your Accounts. To
keep your Account secure, please do not write your PIN on your Card or keep it in the same place as your Card.
15. DEFAULT. You  will  be  in  default  under  this  Agreement  if  any  of  the  following  occur:  (a)  Any  minimum  monthly  payment  is  not  made  when  due;  (b)  You
become insolvent, bankrupt,  or  you  die;  (c)  You  violate  any  part  of  this  Agreement,  or  any  other  agreement  with  us;  (d)  If  we  reasonably  deem  ourselves
insecure on your credit line; or (e) You make any false or misleading statements on a credit application to the Credit Union. We will notify you in writing of any
such  action  as  soon  as practical  if  it  occurs.  Upon default, we may declare the entire unpaid balance immediately due and payable, and you agree to pay
that amount plus any attorney fees and costs incurred by us. We can delay enforcing any right under this Agreement without losing that right or  any other
right.
16. GOVERNING LAW. This Agreement will not take effect until it is approved by us. This Agreement shall be governed by the laws of the State of Oregon.
17. LOSS  OR  THEFT  OF  CREDIT  CARD. You  agree  to  notify  us  immediately,  orally  or  in  writing,  at  Rogue  Credit  Union,  P.O.  Box  4550,  Medford,  Oregon
97501, or telephone (800) 856-7328 of the loss, theft or unauthorized use of your Credit Card. If you notify us of your lost or stolen Credit Card, you may not
be liable for any losses. This  liability exclusion will  apply provided you were not grossly  negligent or fraudulent in  handling your  credit card; otherwise your
liability for unauthorized VISA Credit Card transactions may be up to $50.
18. CREDIT  INFORMATION  /  FINANCIAL  STATEMENTS. You  authorize  us  to  release  information  to  others  (e.g.,  credit  bureaus,  merchants,  and  other
financial institutions) regarding the status and history of your credit line. You agree to provide us, at any time we deem necessary, with a current financial
statement and/or a new credit application upon request. We may investigate your credit directly or through a credit reporting agency.
19. ACKNOWLEDGMENT AND AMENDMENTS. You understand  and  agree to the terms and conditions in  this Agreement, and  the Fair Credit  Billing Notice
made a part hereof. (See Signature Authorization Section on Application.) You also understand and agree that you may be subject to other agreements with
us regarding transfer instruments or access  devices  which  may  access  your  credit  line.  We  have  the  right  to  change  any  terms  and conditions,  subject  to
applicable laws, of this Agreement at any  time. If we change the periodic rate, and subsequent purchases or advances are made under this Agreement, the
entire balance will be subject to the new rate.

UNDER  OREGON  LAW,  MOST  AGREEMENTS,  PROMISES,  AND  COMMITMENTS  MADE  BY  US  CONCERNING  LOANS  AND  OTHER  CREDIT  EXTENSIONS  WHICH
ARE  NOT  FOR PERSONAL,  FAMILY,  OR  HOUSEHOLD  PURPOSES  OR  SECURED  SOLELY  BY  THE  BORROWER’S  RESIDENCE  MUST  BE  INWRITING,  EXPRESS
CONSIDERATION, AND BE SIGNED BY US TO BE ENFORCEABLE.

© 2015 Farleigh Wada Witt. All rights reserved

2

December 2016

Rogue Credit Union
VISA Platinum Business Credit Card Account Disclosures
VISA Card – Rates and Fees

INTEREST RATES AND FINANCE CHARGES

Annual Percentage Rate (APR) for Purchases, Cash
Advances & Balance Transfers

How to Avoid Paying Interest on Purchases

10.00% 

BUSINESS VISA PLATINUM

This APR will vary with the market based on the Prime Rate.

Your due date is 25 days after the close of each billing cycle. We
will  not charge  any  interest  on  the  portion  of  the  purchases
balance that you pay by the due date each month.

Annual Fee
Transaction Fees
-- Cash Advance Fee
Penalty Fees
-- Late Payment Fee
-- Returned Check Charge
-- Over--Limit Charge Fee
Other Fees
-- Foreign Transaction Fee

FEES

NONE

NONE

$25
$25
NONE

Up to 1% of the US dollar amount of the foreign transaction.

How We Will Calculate Your Balance: We use a method called “average daily balance” (including new purchases).

Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in your account agreement.

Your APR is based on the following:

Index:

Your Periodic Rate is:

Prime Rate

0.833%

Margin:

6.250%

We reserve the right to amend the VISA Platinum Business Credit Card Agreement as permitted by law.

The above rates and fees are current as of:

December 24, 2016

FR20150003

© 2015 Farleigh Wada Witt/Rogue Credit Union

3

December 2016