GENISYS CREDIT UNION 

Platinum Visa Credit Cardholder Agreement and Truth-in-Lending Disclosure 

01/01/2013 

Interest Rates and Interest Charges     
Annual Percentage Rate 
(APR) for Purchases 

APR for Balance Transfers 

APR for Cash Advances  

Penalty APR and When It 
Applies 
Paying Interest 

Minimum Interest Charge 
For Credit Card Tips from 
the Federal Reserve Board 

9.90% - 18.00% based on your creditworthiness at the time you 
open your Account. 
9.90% - 18.00% based on your creditworthiness at the time you 
open your Account. 
9.90% - 18.00% based on your creditworthiness at the time you 
open your Account. 
No penalty APR will be assessed. 

Your due date is at least 28 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 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 Consumer Financial Protection Bureau at 
http://www.consumerfinance.gov/learnmore  

Fees 
Annual Fee 
Transaction Fees 

None 

•  Balance Transfer 
•  Cash Advance 
•  Foreign Transactions 

None 
None 
1% of purchase or return amount 

Penalty Fees 

•  Late Payment 
•  Returned Payment 
•  Returned Advance Check 

Other Fees 

$25.00  
$28.00  
$28.00 
No other fees 

How We Will Calculate Your Balance:  We use a method called “average daily balance (including new purchases)”.  See your account 
agreement for more details. 

Agreement Terms- The words “you” and “your” mean or refer to each and all persons who have applied for the Card or Cards by signing this 
Agreement.   “Card” means the VISA Credit card or Cards and any duplicates and renewals thereof or substitutions therefore we may issue.  
“Account” means your VISA Credit Card line-of-credit loan account with us.  “We”, “us” and “ours” means or refers to this credit union.  This 
Agreement is a Truth-in-Lending Disclosure statement as well as a contract. 

1. 

2. 

Acceptance  of  Agreement/Responsibility  –  The  use  of  your 
Account  or  a  card  by  you  or  anyone  whom  you  authorize  or 
permit  to  use  your  Account  or  a  card  means  you  accept  this 
Agreement.  You promise to repay all debts and the INTEREST 
CHARGE  thereon  arising  from any  authorized use of  the Card.  
You agree not to let someone else use the Card.  If you do, you 
are  agreeing  with  us  that  you  authorize  all  use  that  person 
makes of the Card.  Therefore, you will be liable for all such use 
of the Card.  Of course, once you notify us we will take prompt 
steps  to  try  to  prevent  any  further  Card  use  by  that  person.    If 
this  Agreement  is  signed  by  two  persons,  the  Account  is  joint; 
that  is,  each  of  you,  separately  and  jointly  with  each  other,  is 
liable  for  all  debts  on  the  Account  and  INTEREST  CHARGE 
thereon.    Your  obligation  to  pay  all  such  debts  and  INTEREST 
CHARGE thereon continues even though an agreement, divorce 
decree or other court judgment to which we are not a party may  

direct  that  only  one  of  you,  or  some  person  other  than  you  (or 
both of you), must pay such debts and INTEREST CHARGE. 
Credit Limit – We will establish a self-replenishing line-of-credit 
for  you  and  will  notify  you  of  the  amount  thereof  (credit  limit  in 
the mailer in which we will send you your card.)  You agree not 
to  let  your  Account  balance  exceed  your  credit  limit.    We  may 
honor  Purchases  and  Cash  Advances  in  excess  of  your  credit 
line at our sole discretion.  If at any  time your balance exceeds 
the  credit  limit,  you  agree  to  pay  us  that  excess  immediately.  
Each  payment  you  make  on  the  Account  will  replenish  your 
credit  limit  by  the  part  of  that  payment  which  is  applied  to 
principal.  You may request an increase in the credit limit only by 
written  application,  which  must  be  approved  by  us.    We  may 
reduce  your  credit  limit  from  time  to  time  or  may,  with  good 
cause, revoke your Card and terminate this Agreement; in either 
event,  we  will  give  you  written  notice  of  such  action.    “Good 
cause”  includes  your  failure  to  satisfy  the  terms  of  this 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agreement.    However,  you  may  terminate  this  Agreement,  at 
any  time  and  for  any  reason,  by  giving  us  written  notice.  
Nevertheless,  termination  by  you  or  by  us  does  not  affect  your 
obligation  to  pay  all  debts  and  INTEREST  CHARGE  thereon 
arising from authorized use of your Card.  The Cards remain our 
property  and  you  must  recover  and  surrender  to  us  all  Cards 
upon our request or upon termination of this Agreement. 

3.  Using the Card – We will send you a Card or Cards embossed 
as you have directed.  As soon as received, each Card must be 
signed (in the space provided on the back) by the person whose 
name is embossed thereon.  That signature must be in the same 
form  as  embossed  on  the  front  of  the  Card.    To  make  a 
Purchase or Cash advance, present  the  Card to a participating 
VISA-plan merchant or financial institution, or to us, and sign the 
sales  draft  or  cash  advance  draft  which  will  be  imprinted  with 
your  Card.    You  can  also  use  your  Card  together  with  your 
Personal  Identification  Number  (PIN)  to  get  a  Cash  Advance 
from  an  automated  teller  machine  (ATM)  in  the  VISA  TRAVEL 
NETWORK,  to  get  a  Cash  Advance  from  a  VISA  financial 
institution  or  make  a  Purchase  from  a  merchant  that  uses  the 
Card  in  an  electronic  terminal  that  accesses  the  VISA  system.  
Please note that we are not responsible if a particular VISA-plan 
merchant or financial institution refuses to honor your Card.  You 
will  receive  a  copy  of  any  draft  you  sign  when  using  the  Card 
which you should retain to verify with your monthly statement. 
4.  Cash  Advance  by  Machine  –  If  automated  teller  machines  or 
other  electronic  devices  are  available  while  this  Agreement 
remains in effect which make it possible for you to obtain a Cash 
Advance by use of your Card in such a machine, we will furnish 
you  with  a  secret  Personal  Identification  Number.    Your  use  of 
that number, together with your Card, in getting a Cash Advance 
from  such  a  machine  is  agreed  to  constitute  your  signature  for 
purposes of such Cash Advance. 

5.  Personal  Identification  Number  (PIN)  –  We  will  furnish  you 
with a personal identification number (PIN).  You agree to keep 
the PIN secret.  You also agree you won’t write the pin ON THE 
CARD or anything you keep with the Card.  Your use of the PIN 
and  Card  in  getting  a  Cash  Advance  or  making  a  Purchase  is 
agreed  to  constitute  your  signature  for  purposes  of  such 
transactions. 

6.  Late Fee – If we do not receive a payment from you in at least 
the amount  of  your minimum monthly  payment by  the  payment 
due date shown on your monthly statement, we may charge you 
a late fee in the amount of $25.00.  You will only be charged one 
late payment fee for any minimum monthly payment which is not 
paid by the payment due date. 

8. 

7.  Minimum  Monthly  Payment  –  If  the  New  Balance  shown  on 
your  monthly  statement  is  less  than  $25.00,  your  Minimum 
Monthly  payment  (due  by  the  Payment  Due  date)  is  your  new 
Balance.    Otherwise,  the  Minimum  Monthly  payment  for  each 
billing  cycle  will  be  the  total  of:  1)  $25.00  or  2%  of  your  new 
Balance,  2)  Any  amount  in  excess  of  your  credit  line,  3)  Any 
amount  past  due.    You  may  pay  more  than  the  Minimum 
Monthly payment and may, at any time, pay the full amount you 
owe us without penalty for prepayment. 
INTEREST  CHARGES  on  your 
INTEREST  CHARGES  – 
Account are figured, in part, by applying a monthly periodic rate 
or  rates  to  your  average  adjusted  daily  balances  of  Purchases 
and Cash Advances.  The average daily balances of Purchases 
and  Cash  Advances  are  calculated  separately.    To  determine 
the  average  adjusted  daily  balance  for  Purchases,  we  take  the 
outstanding balance at the start of the day, add the amounts of 
new  Purchases and  debits,  posted during the  day  and subtract 
the  amounts  of  payments  and  credits  posted  during  the  day.  
We  then  subtract  any  unpaid  INTEREST  CHARGES  from 
previous  billing  periods  and  any  late  charges,  over  limit  fees, 
and  Cash  Advances.    The  result  is  the  adjusted  purchase 
balance  for  the  day.    Then  we  add  up  all  the  daily  adjusted 
purchase balances for the billing cycle and divide the total by the 
number  of  days in the billing cycle.   This gives us  the adjusted 
average daily balance for Purchases.  The monthly periodic rate 
of 9.9-18% (.8250-1.500% APR  divided by 12 @ 360-day-year) 
is  then  applied  to  the  adjusted  average  daily  balance  to 
determine  the  Purchase  balance  INTEREST  CHARGE.    To 
for  Cash 
the  average  adjusted  daily  balance 
determine 

Advances, we take the outstanding cash balance at the start of 
the  day,  add  the  amounts  of  new  Cash  Advances  and  debits 
posted  during  the  day  and  subtract  the  amounts  of  payments 
and  credits  posted  during  the  day.    This  result  is  the  adjusted 
cash balance for the day.  Then we add up all the daily adjusted 
cash  balances  for  the  billing  cycle  and  divide  the  total  by  the 
number of days  in  the  billing cycle.  This gives  us the adjusted 
average  daily  balance  for  cash.    The  monthly  periodic  rate  of 
9.9-18%   (.8250-1.500% APR divided by 12 @ 360-day-year) is 
then applied to the adjusted average daily balance to determine 
the cash balance INTEREST CHARGE.  The Purchase balance 
and  cash  balance  INTEREST  CHARGES  are  then  added 
together and reflected under the heading “INTEREST CHARGE” 
on your periodic monthly statement. 

9.  Grace  Period  –  An  INTEREST  CHARGE  is  imposed  on  a 
Purchase, or unpaid portion of it, from the date the Purchase is 
posted  to  your  Account  until  the  date  it  is  fully  paid.    However, 
no  INTEREST  CHARGE  is  imposed  on  new  Purchases  in  the 
billing  cycle  in  which  they  are  posted  to  your  Account  if  in  the 
prior  billing  cycle  you  had  no  new  balance,  or  if  you  paid  the 
entire new balance on your Account by the payment due date on 
that  billing  statement.    Cash  Advances  are  always  subject  to 
INTEREST  CHARGES  from  the  date  they  are  posted  to  your 
Account.  Cash Advances have no Grace Period. 

10.  Payments – We may accept late payments, or partial payments 
and payments marked “payment in full” without losing any of our 
rights under this Agreement.  We post your payments in the 
following order when they are received after the billing date:  1) 
Uncollected INTEREST CHARGES, if any, from previous billing 
cycles, 2) Any uncollected fee amounts, 3) Cash Advance 
Balance, 4) Purchase Balance. 

11.  Credits  –  If  merchants  who  honor  your  Card  give  you  a  credit 
for returns or adjustments, they will do so by sending us a credit 
slip  which we  will post to  your Account.    You should keep  your 
copy  of the credit slip to verify  your monthly statement.  If  your 
credits and payments exceed what you owe us on  the  Account 
we will credit such  excess to the  Account and,  if  the amount  is 
$1.00  or  more,  we  will  credit  it  to  your  share  account  after  6 
months or upon your written request. 

12.  Foreign  Transactions  –  Purchases/Returns  and  Cash 
Advances  made  in  foreign  countries  and  foreign  currencies  will 
be  billed  to  you  in  U.S.  dollars.    The  conversion  rate  to  dollars 
will  be  at  (1)  the  wholesale  market  rate  or  (2)  the  government 
mandated rate, whichever is applicable, in effect one day prior to 
the processing date, increased by one percent. 

13.  Lost or Stolen Cards –  If your Card is lost or  stolen, or  if  you 
believe that it is being used without permission, you must notify 
us  at  once.    Call  us  at  the  number  shown  on  your  monthly 
statement.  You should also follow this up in writing.  You should 
not  use  the  Card  after  you  have  notified  us,  if  it  is  returned  to 
you.    If  your  VISA  is  lost  or  stolen  on  a  weekend,  holiday,  or 
after Credit Union hours, call (800)991-4965. 

14.  Default –  Your Account will be  in default and  we  may  demand 
payment  of  the  entire  amount  you  owe  us  without  giving  you 
prior notice if (a) you fail to make at least the minimum payment 
by  the  due  date  shown  on  your  monthly  statement  (b)  you 
breach  any  other  conditions  of  the  Agreement,  (c)  if  we 
determine that your creditworthiness (which includes your ability 
to  repay  us)  has  become  unsatisfactory  due  to  change  in 
employment,  increase  in  your  other  obligations,  or  because  of 
any other reason, or (d) in the event of your death.  In the event 
of  any  default  or  in  the  event  this  Agreement  is  terminated  by 
you or by  us for any reason, the entire balance on the Account 
becomes  due  and  payable  forthwith.    You  also  agree  that,  in 
case  of  default,  you  will  pay  all  usual  and  customary  costs  of 
collection permitted by law including reasonable attorney fees. 

15.  Credit Information – You authorize us to investigate your credit 
standing  when  opening,  renewing  or  reviewing  your  Account, 
and  you  authorize  us  to  disclose  information  regarding  our 
experience with you under this Agreement to credit bureaus and 
creditors. 

16.  Effect  of  Agreement  – This  Agreement contains  our complete 
contract relating to the Account and applies to every transaction 
relating  to  the  Account  even  though  a  sales  or  Cash  Advance 
draft you sign or a credit slip may contain different terms. 

17.  Amendment  of  Agreement  –  From  time  to  time,  we  may 
amend  this  Agreement  by  giving  you  written  notice  of  the 
amendment at least 45 days before it goes into effect, unless a 
shorter notice period is permitted by law.  The notice will be sent 
to  your  last  known address appearing in our records when it  is 
sent,  and  will  state  the  date  upon  which  the  amendment  will 
become effective. 

18.  Returned Check Fee –  If  your bank does  not  honor the check 
you gave us to pay amounts you owe under this agreement, we 
may charge you  a Return Check Fee  of  $28.00.  We also may 
not  honor  a  VISA  Check  that  will  cause  you  to  exceed  your 
credit line and we may charge a fee of $28.00. 

19.  VISA Checks – We may not honor a VISA Check that will cause 
you  to  exceed  your  credit  line.    We  are  not  obligated  to  pay  a 
VISA  Check  if,  at  the  time  the  check  is  presented,  you  are  in 

default  of  this  Agreement,  we  have  revoked  your  right  to  use 
your  VISA  Card,  your  Account  is  closed  for  any  reason,  or  if 
your card has expired.  Each check must be in the form we have 
issued  you.    These  checks  may  be  used  only  by  the  person(s) 
whose name(s) is/are printed on the check.  You are responsible 
for  all  authorized  use  of  your  checks  to  pay  any  amount  which 
you  owe under this Agreement.  We are not obligated to certify 
these checks nor will we return paid checks to you. 

20.  Monthly  Statement  –  We  will  send  a  statement  at  the  end  of 
each  monthly  billing  cycle.    It  will  show  the  new  balance,  any 
INTEREST CHARGES, the minimum amount due, any past due 
amounts,  and  the  payment  due  date.    It  will  also  show  your 
credit  line  limit,  available  credit,  and  an  itemized  list  of  current 
purchases, cash advances, checks, payments, credits, and any 
other fees. 

YOUR SAVINGS ARE SECURITY FOR THIS CONTRACT 

By signing this Agreement, you give us a security interest called a “pledge” in all present or future shares or deposits in the Credit Union 
which you have the right to withdraw for your personal use.  If you are in “default,” we can take money from your shares or deposits to make 
any payments that are past due, as well as any late charges. In Section 16 we tell you what a “default” is.  If you are not in “default,” you can 
withdraw from your savings even though they are “pledged” to us.  If you withdraw ALL your shares, you are no longer a member and you 
can not get any new loans under this contract.   

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. 

1.  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 the 

address listed on your bill.  Write to us as soon as possible.  We must hear from you 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 why you believe there is an error.  If you need more information, describe the item you are not sure 
about. 

2.  If you have authorized us to pay your credit card bill automatically from your savings or draft 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: 

3.  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. 

4.  After we receive your letter, we cannot try to collect any amount you question, or report you as delinquent.  We can continue to bill you 
for the amount you question, including interest 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. 

5.  If we find that we made a mistake on your bill, you will not have to pay any interest charges related to any questioned amount.  If we 
didn’t make a mistake, you may have to pay interest 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. 

6.  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. 

7.  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 your home state or, if not within your home state within 100 miles of your current  

                      b. The purchase price must have been more than $50. 

mailing address; and 

8.  These limitations do not apply if we own or operate the merchant, or if we mailed you the advertisement for the property or services