Account Opening Disclosures
Supplement to Credit Card Agreement for Cash Rewards Platinum VISA Accounts
Education Credit Union

Interest Rates and Interest Charges
Annual Percentage Rate (APR)
 for "Purchases or Balance 
Transfer Standard Rate"
APR for Cash Advances
Penalty APR and When it Applies

Paying Interest        

For Credit Card Tips from the 
Consumer Financial Protection 
Bureau

Interest Rates and Interest Charges
Annual Fee
Transactions Fees
.
Cash Advance

.

Foreign Transaction

Penalty Fees
.

Late Payment

.

Returned Payment

8.24% to 17.75%
This APR will vary with the market based on the Prime Rate.

17.75%
17.75%

This APR may be applied to all advances for your account if you:

1)        Make a late payment

How Long Will the Penalty APR Apply?: If your APR is 
increased for this reason, the Penalty APR will apply until you 
make six consecutive minimum payments when due.

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 by the due date each month. We will begin charging interest on 
cash advances and balance transfers on the transaction date.
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

None

Either $5 or 2% of each cash advance, whichever is greater (maximum fee: $25)

Up to 1% of each transaction in U.S. dollars.

Up to $20

Up to $20

How We Will Calculate Your Balance: We use a method called “average daily balance (including new purchases).” See below 
for more details.

Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided below.

Truth in Lending Disclosures

COST OF CREDIT: You will pay an Interest CHARGE for all advances made against your Account. Interest CHARGES for cash advances and balance 
transfers begin to accrue on the date of the advance. New purchases will not incur an Interest CHARGE on the date they are posted to your Account if you 
have paid the Account in full by the Payment Due Date shown on your previous monthly statement, or if there was no previous balance.

For cash advances, the daily periodic rate is .048630% (17.75% ANNUAL PERCENTAGE RATE). The ANNUAL PERCENTAGE RATE for cash advances is 
non-variable. For purchases and balance transfers, the daily periodic rate is .022575% 8.24%  ANNUAL PERCENTAGE RATE) to  .048630% (17.75% 
ANNUAL PERCENTAGE RATE). The ANNUAL PERCENTAGE RATE for purchases (including balance transfers) is variable and may increase. Unless an 
Introductory rate is in effect, the periodic rate used to compute the interest charge for purchases is based on an index (the "Index"), which is the Prime Rate as 
published in the Money Rates section of The Wall Street Journal on the last business day of the month and is subject to change monthly on the first day of each 
month. Any change in the Index will be effective on the first day of the billing cycle that ends on or after the date of the change. An increase in the Index will 
result in an increase in the daily periodic rate, which in turn, may result in higher payments. We will add a margin of 3.99% to 14.50% to the Index to determine 
the purchases ANNUAL PERCENTAGE RATE. The purchases ANNUAL PERCENTAGE RATE is subject to change in the future based on changes in the 
Index. The daily periodic rate for purchases will never be greater than .048630%, 17.75% ANNUAL PERCENTAGE RATE). The ANNUAL PERCENTAGE 
RATES set forth in this paragraph are referred to as the “Standard Rates.”

In addition to the variable-rate aspects of the Account for purchases, the ANNUAL PERCENTAGE RATE for purchases is also based on certain 
creditworthiness criteria. After your Account has been open for at least one year, we may review your creditworthiness from time to time, including when you 
request a credit limit increase, and adjust your Standard Rate daily periodic rate and corresponding ANNUAL PERCENTAGE RATE for purchases by notifying 
you in accordance with applicable law. If your Standard Rate ANNUAL PERCENTAGE RATE for purchases is adjusted based on your creditworthiness, the 
margin used for calculating rate changes due to changes in the Index will be adjusted. Any ANNUAL PERCENTAGE RATE changes to your Account due to 
changes in your creditworthiness will only affect new purchase balances beginning on the effective date of the change; existing purchase balances will continue 
to be subject to the ANNUAL PERCENTAGE RATE in effect before the date of the change until those balances are paid in full.

If at any time a required minimum payment is three or more billing cycles past due, the ANNUAL PERCENTAGE RATE for all advances may be increased to a 
Penalty Rate daily periodic rate of .048630% (17.75% ANNUAL PERCENTAGE RATE). After the Penalty Rate becomes effective, it will apply both to current 
and new balances and it may remain in effect indefinitely. If your minimum payments are made as required for six consecutive months starting on or after the 
first payment due following the Penalty Rate effective date, the Standard Rates for your Account will be restored. 

A portion of the INTEREST CHARGE is determined by applying the applicable daily periodic rate to the Average Daily Balance of your Account for each feature 
category, including certain current transactions. Feature categories include purchases, balance transfers, and cash advances. The Average Daily Balance is 
arrived at by taking the beginning balance of each feature category each day and adding any new transactions to the balance, except if you have paid your 
Account in full by the Payment Due Date shown on the previous monthly statement or there is no previous balance, new purchases are not added to the 
purchases balance. Balance transfers may be shown on your statement in the Promotions feature category. When determining balances, we may combine 
feature category balances that have the same periodic rate and other INTEREST CHARGE terms. We then subtract any payments or credits and unpaid 
INTEREST CHARGES allocated to the feature category balance for the day. This gives us the daily balance for the feature category. The daily balances for 
each feature category are then added together and divided by the number of days in the billing cycle. The result is the Average Daily Balance for each feature 
category. The periodic INTEREST CHARGE is determined by multiplying each feature category Average Daily Balance by the number of days in the billing 
cycle and applying the applicable daily periodic rate to the product. The total INTEREST CHARGE for each statement period is the sum of the periodic 
INTEREST CHARGES for each feature category plus any non-periodic INTEREST CHARGES.

No additional INTEREST CHARGES will be imposed on new purchases shown on your statement if the New Balance shown on the statement is paid in full by 
the Payment Due Date reflected on the statement.  The Payment Due Date is not less than 25 days from the billing cycle closing date shown on your statement.

LATE PAYMENT FEE: If we do not receive your required Minimum Payment within 10 days of the Payment Due Date, you may be charged a Late Payment 
Fee of $20 or an amount equal to the Minimum Payment due, whichever is less.  

 
RETURNED PAYMENT FEE: If any payment made on your Account is returned unpaid for any reason, you will be charged a Returned Payment Fee or the 
amount equal to your required Minimum Payment, whichever is less. The Returned Payment Fee will apply when any payment is returned to us, even if the 
payment is honored upon resubmission.

CASH ADVANCE FEE: $5 or 2% of each cash advance, whichever is greater, with a maximum fee of $25

OTHER FEES:  

Ez Pay (telephone assisted expedited payment service): $10 per payment

Replacement Card Fee:  $7.50

Convenience Check Fees:

Stop Payment: 
Copy of Check:
Non-Sufficient Funds (insufficient credit limit):

$20 per check
$20 per check
$20 per return

Foreign Transaction Fee: Up to 1% of the transaction amount in U.S. dollars. 

SECURITY: YOU SPECIFICALLY GRANT US A CONSENSUAL SECURITY INTEREST IN ALL INDIVIDUAL AND JOINT ACCOUNTS YOU HAVE WITH 
THE CREDIT UNION NOW AND IN THE FUTURE TO SECURE REPAYMENT OF CREDIT EXTENSIONS MADE UNDER THIS AGREEMENT. THE 
GRANTING OF THIS SECURITYINTEREST IS A CONDITION FOR THE ISSUANCE OF ANY CARD WHICH YOU MAY USE, DIRECTLY OR INDIRECTLY, 
TO OBTAIN EXTENSIONS OF CREDIT UNDER THIS AGREEMENT. 

Shares and deposits in an Individual Retirement Account or any other account that would lose special tax treatment under state or federal law if 
given as security are not subject to the security interest you are giving.

ADDITIONAL SECURITY: If you have other loans with us, now or in the future, collateral securing those loans may also secure your obligations 
under this Agreement. Please read any security agreement you sign in order to determine if the collateral also secures your obligations under this 
Agreement and other agreements you have with us. 

Your Billing Rights: Keep this Document for Future Use

This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act.

What to Do if You Find a Mistake on Your Statement

If you think there is an error on your statement, write to us at:

Education Credit Union
c/o Card Processing Center
P.O. Box 815909
Dallas, TX 75381

In your letter, give us the following information:

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.
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You must contact us:

Account information: Your name and account number.
Dollar amount: The dollar amount of the suspected error.
Description of problem: If you think there is an error on your statement, describe what you believe is wrong and why you believe it is a mistake.

Within 60 days after the error appeared on your statement.
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. 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 to you why we believe your statement is correct.

While we investigate whether or not there has been an error:

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.
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We cannot try to collect the amount in question, or report you as delinquent on that amount.
The charge in question may remain on your statement, and we may continue to charge you interest on that amount.
While you do not have to pay the amount in question, you are responsible for the remainder of your balance.
We can apply any unpaid amount against your credit limit.

After we finish our investigation, one of two things will happen:

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.

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 statement 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 statement. We must tell you the name of anyone to 
whom we reported you as delinquent, 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 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 
merchant, 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. (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 dissatisfied with the purchase, contact us in writing at:

Education Credit Union
c/o Card Processing Center
P.O. Box 815909
Dallas, TX 75381

While we investigate, the same rules apply to the disputed 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.