Secured Credit 
Card Agreement 
and Truth-in-
Lending Disclosure

24-Hour Loan Center: 866.933.6333

MichiganFirst.com

Federally insured by the
National Credit Union Administration.

2196-VISA-005-SEC

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  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	[or	electronically]	at:

Michigan	First	Credit	Union
27000	Evergreen	Road
Lathrup	Village,	MI		48076

While	we	investigate,	the	same	rules	apply	to	the	disputed	amount	as	
discussed	 above	 or	 on	 previous	 page.	 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.

Revised	06/2021

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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	the	bill	is	correct.

While we investigate whether or not there has been an error:

• 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:
•
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	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.

MICHIGAN	FIRST	CREDIT	UNION

SECURED CREDIT CARD AGREEMENT
AND TRUTH-IN-LENDING DISCLOSURE

UNION) 

RIGHTS 

(CREDIT 

REGARDING 

THIS  IS  YOUR  AGREEMENT  WITH  MICHIGAN  FIRST  CREDIT 
UNION 
AND 
RESPONSIBILITIES  ASSOCIATED  WITH  OBTAINING  A  SECURED 
VISA®  CREDIT  CARD.  THE  DISCLOSURE  STATEMENTS  THAT 
FOLLOW  ARE  REQUIRED  BY  FEDERAL  REGULATIONS, 
INCLUDING THE TRUTH IN LENDING AND FAIR CREDIT BILLING 
ACTS.  PLEASE  READ  THIS  DISCLOSURE  CAREFULLY  TO  BE 
FAMILIAR  WITH  YOUR  RIGHTS  AND  RESPONSIBILITIES.  IT  IS 
IMPORTANT  TO  RETAIN  THIS  NOTICE  FOR  FUTURE  REFERENCE 
AND TO NOTIFY US AT ONCE IF ANY PARTS ARE UNCLEAR.

1. WORDS  OFTEN  USED  IN  THIS  AGREEMENT.  The  word
“Agreement”  means 
this  Michigan  First  Credit  Union  Credit  Card 
Agreement  and  Truth-In-Lending  Disclosure  and  the  document  provided 
to  you  along  with  this  agreement  and  disclosure  containing  Credit 
Card Account  Opening  Disclosures  and  information  concerning  How 
Your Annual  Percentage  Rate  is  Determined.  In  this  agreement, the  words 
“you” and  “your”  mean  or  refer  to  each  and  all  persons  who  have  applied 
for  the Card  or  Cards.  “Card”  means  the  Visa  Credit  Card  or  Cards, 
and  any  duplicates  and  renewals  thereof,  or  substitutions  thereof,  we 
may  issue  to  you.  “Account”  means  your  Visa  Credit  Card  line  of  credit 
loan account with us.  “We,”  “us”  and  “ours”  means  or  refers  to  Michigan 
First  Credit  Union  and  the  document  provided  to  you  along  with  this 
agreement  and  disclosure  containing  Credit  Card  Account  Opening 
Disclosures  and 
information  concerning  How  Your  Annual  Percentage 
Rate is Determined. 

2. THIS IS YOUR CONTRACT WITH US. Once this agreement is sent
to  you,  it  becomes  a  binding  contract.  When  you  (i)  signed  a  paper 
application  for  your  account,  (ii)  completed  an  online  application  for  your 
account,  (iii)  applied  for  your  account  by  calling  our  Call  Center,  or  (iv) 
applied  for  your  account  in  person  with  one  of  our  Financial  Services 
Representatives,  you  acknowledged  that  you  would  receive  a  copy  of  this 
agreement and promised to abide by the terms of this agreement, including 
applicable laws. This agreement is a Truth-In-Lending Disclosure Statement 
as well as a contract.

3.  SIGN  THE  CARD.  Your  card(s)  have  been  imprinted  as  you  have
directed.  Each  card  must  be  signed  (in  the  space  provided  on  the  back)  by 
the person whose name is imprinted thereon. That signature must be in the 
same  form  as  imprinted  on  the  front  of  the  card.  However,  your  liability 
under this agreement does not depend on whether you sign your card.

4. USING THE CARD. By using this card, you are agreeing to comply
with  the  terms  of  this  agreement.  To  make  a  Purchase  or  Cash  Advance, 
present the card to a participating Visa plan merchant or financial institution 
and sign the sales draft or cash advance draft (when required) which will be 
imprinted with your card or generated after

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your	 Card’s	 number	 has	 been	 magnetically	 read	 or	 otherwise	
provided.	 Please	 note	 that	 we	 are	 not	 responsible	 if	 a	 particular	
Visa	 plan	 merchant	 or	 financial	 institution	 refuses	 to	 honor	 your	
Card.	 You	 can	 receive	 a	 copy  of  any  draft  you  sign  or  a 
corresponding  transaction  slip  when  using	 the	 Card.	You	 should	
retain	 all	 such	 items	 to	 verify	 your	 monthly	 statement.	You	 may	
use	your	Card	to	make	purchases	and	cash	advances	primarily	for	
personal,	 family,	 or	 household	 purposes.	 In	 addition,	 you	 may	
obtain	 cash	 advances	 from	 the	 Credit	 Union	 or	 from	 other	
financial	 institutions	 that	 accept	Visa	 Cards	 or	ATMs	 that	 accept	
Visa	 Cards.	 Whenever	 you	 request	 a	 transaction,	 you	 may	 be	
required	 to	 prove	 your	 identity.	 When	 the	 amount	 advanced	
appears	 on	 a	 subsequent	 statement,	 that	 statement	 reference	 will	
be conclusive evidence of	the	request.	To	obtain	an	advance	at	an	
ATM	 you	 must	 use	 a	 Personal	 Identification	 Number	 (PIN)	 that	
was	issued	for	use	with	the	Card.

5. ILLEGAL	TRANSACTIONS.	You	agree	that	you	will	only	
use your	Account	for	transactions	that	are	legal	where	you	reside.	
Display	of a payment card logo by an on-line merchant does not 
mean  that  the  transaction	 with	 that	 merchant	 is	 legal	 where	 you	
reside.	You	agree	not	to use your Card for any illegal transactions. 
We will not be liable if you engage in any illegal transactions.

6.  PROMISE	 TO	 PAY.	You	 promise	 to	 repay	 to	 us	 all	 debts	
and  the	 FINANCE	 CHARGE(S)	 thereon	 arising	 from	 any	
authorized	use	of	the	Card.	You	agree	not	to	let	someone	else	use	
the	card	without	our	consent.	If	the	application	was	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	
FINANCE	 CHARGE(S).	 Your	 obligation	 to	 pay	 all	 such	 debts	
though	 an	
and	 FINANCE	 CHARGE(S)	 continues	 even	
agreement,	
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	FINANCE	CHARGE(S).	

divorce	

decree	

court	

other	

or	

7.  CREDIT	 LINE.	 When	 we	 approved	 your	 application,	 we 
established	 a	 self-replenishing	 line	 of	 credit	 for	 you	 and	 notified	
you	 of	 the	 amount	 thereof	 (“credit	 limit”)	 in	 the	 document	 your	
Card/s	 were	 attached  to.  That  document  is  hereby  incorporated 
herein  as  part  of  this  Agreement.	 You	 agree	 not	 to	 let	 your	
Account	 Balance	 exceed	 such	 amount,	 and	 you	 agree	 to	 pay	 us	
the	total	amount	over	the	credit	limit	upon	our	demand	whether	or	
not	 we	 authorized	 the	 advance(s)	 which	 caused	 you	 to	 exceed	
your	 credit	 line.	 Unless	 you	 are	 in	 default,	 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	by	a	written	application,	which	must	be	
approved	by	us.	We	may	increase	or	decrease	the	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	 or	 our	 adverse	 reevaluation	 of	 your	
creditworthiness;	in	either	event,	we	will	give	you	written	notice	
of	such	action.	In	the	event	your	Account	is	canceled	or	revoked	
due  to  de  fault,  the  balance	 at	 the	 time	 of	 default	 may	 be	
transferred	in-house	with	the	Credit	Union	

42. ENTIRE	 AGREEMENT/EFFECT	 OF	 AGREEMENT.	 This
Agreement,	 together	 with	 any	 application	 you	 signed	 or	 otherwise	
submitted	in	connection	with	the	Account	and	any	mailer/document	sent	
to	 you	 with	 your	 Card(s)	 (all	 of	 which	 are	 hereby	 incorporated	
by	reference	in	this	Agreement),	constitutes	the	entire	agreement	between	
you	 and	 us	 relating	 to	 your	 Account,	 supercedes	 any	 other	 prior  or 
contemporaneous  agreement  between  you  and  us  relating  to  your	
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.	 This	 Agreement	 may	 not	 be	 amended	 except	 in	
accordance	 with	
this	 Agreement.	 You	 further	
acknowledge receipt of a copy of this Agreement.

the	 provisions	 of	

43. CREDIT	UNION	MEMBERSHIP.	You	understand	and	agree that
the	closing	of	your	Credit	Union	Regular	Share	Account	terminates	your	
status	as	a	member	of	the	Credit	Union,	and	upon	such	closing,	you	can	
no	longer	obtain	credit	with	the	Credit	Union	Visa	Card.	

The  following  is  important  information  regarding  your  right  to  dispute 
billing errors.

Your BILLING Rights –
Keep This NOTICE 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:

Michigan	First	Credit	Union 
27000	Evergreen	Road 
Lathrup	Village,	MI		48076

In	your	letter,	give	us	the	following	information:

•	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	bill,
describe	what	you	believe	is	wrong	and	why	you	believe	it	is	a
mistake.

You	must	contact	us:

• 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.

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34. SECURITY	 INTEREST.	 If	 you	 separately	 signed	 a	 document
entitled	 SPECIFIC	 PLEDGE	 OF	 SHARES	 TO	 SECURE	 CREDIT	
CARD	ACCOUNT,	 you	 grant	 us	 a	 security	 interest	 as	 set	 forth	 in	 that	
document  to  secure  your Account.  There  is  no  other  security  for  your 
Account.

35. BUSINESS	 DAY.	 Our	 business	 days	 are	 Monday	 through

Friday. Saturdays,	Sundays	and	federal	holidays	are	excluded.

36. GOVERNING LAW. The Agreement and your Account and any
claim, dispute, or controversy arising from or relating to this Agreement 
or  your  Account,  whether  based  on  contract,  tort,  fraud,  and  other 
intentional torts, statute, common law and/or equity, are governed by and 
construed in accordance with the laws of the State of Michigan (without 
regard  to  its  conflicts  of  laws  principles  or  rules)  and  applicable  federal 
laws. The legality, enforceability and interpretation of this Agreement and 
the  amounts  contracted  for,  charged  and  received  under  this  Agreement 
will  be  governed  by  such  laws.  This  Agreement  is  entered  into  between 
you and us in the State of Michigan, and we make credit decisions under 
this  Agreement  from  the  State  of  Michigan.  You  further  consent  to  the 
jurisdiction  and  venue  of  the  State  or  Federal  Courts  having  jurisdiction 
over the City of Lathrup Village, Oakland County, Michigan.

37. ASSIGNMENT. We may sell, assign or transfer all or any portion
of	 your	 Account,	 or	 any	 balance	 due	 under	 your	 Account,	without	
prior	 notice	 to	 you.	 You	 may	 not	 sell,	 assign	 or	 transfer	 your	Account 
or any obligations under this Agreement.

38. LOST/STOLEN	 CARDS.	 You	 agree	 to	 notify	 us	 immediately
upon	discovering	that	your	Card	has	been	lost	or	stolen	by	calling	us	at	
866.820.2946	or	800.664.3828.

39. INFORMATION	 ABOUT	 YOU	 AND	 YOUR	 ACCOUNT.	 We
will	 not	 disclose	 your	 non-public	 personal	 information	 to	 unaffiliated	
third	 parties	 except	 as	 otherwise	 permitted	 or	 authorized	 by	 law.	 Please	
refer	 to	 our	 Privacy	 Policy	 Notice	 for	 a	 full	 explanation	 of	 how	 we	
protect	 your	 information.	You	 may	 obtain	 a	 copy	 of	 our	 Privacy	 Policy	
Notice	by	calling	us	at	800.664.3828.

40. BENEFITS	AND	PROGRAMS.	We	may	from	time	to	time	offer
additional	 services	 to	 your	Accounts	 or	 special	 programs	 related	 to	 you	
being	 a	 Cardholder,	 such	 as	 travel	 accident	 insurances,	 at	 no	 additional	
cost	to	you.	You	understand	and	agree	that	we	are	not	obligated	to	offer	
such	 services	 or	 programs	 and	 may	 withdraw	 or	 change	 them	 at	 any	
time.

41. SEVERABILITY.  If  any  provision  of  this  Agreement  is
determined to be void or unenforceable under applicable law, regulation, 
or  rule,  all  other  provisions  of  this  Agreement  shall  be  valid  and 
enforceable.

and,	 as	 a	 consequence	 thereof,	 be	 separately	 billed	 as	 an	 in-house	
arrangement	or	included	within	any	other	open-end	credit	plan	you	have	
with	us,	with	collection	to	be	at	the	same	rate	and	under	the	same	terms	
and	conditions	as	provided	for	in	this	Agreement.	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	 FINANCE	 CHARGE(S)	 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.

8.  JOINT	 ACCOUNTS.	 If	 more	 than	 one	 person	 signed	 the 
application,	each	person	who	signed	it	promises	to	pay	all	amounts	owed	
to	us	under	this	Agreement.	Each	of	you	authorizes	the	other(s)	to	make	
purchases,	 withdrawals	 or	 cash	 advances	 individually.	Any	 one	 of	 you	
may	cancel	the	Account.	The	cancellation	will	be	effective	to	all	of	you.	
Each	of	you	is	jointly	and	severally	obligated.	This	means	that we may 
from 
collect  money  owed 
all of you regardless of your current domestic relationship or other legal	
proceedings.	 In	 any	 event,	 all	 of	 you	 will	 continue	 to	 be	 jointly	 and	
severally	 obligated	 until	 all	 Cards	 are	 returned	 and	 the	 debt	 is	
extinguished.

from  each  of  you  or 

to  us 

9.	AUTHORIZED	USERS.	You	may	allow	Authorized	Users	on your 
Account by notifying us that you want someone added to the account	as	
an	Authorized	User	and	obtaining	our	consent.	Additionally,	though	not	
allowed,	you	will	be	deemed	to	have	personally	authorized	another	user	
in	the	following	ways:	(1)	by	lending	your	Card	or	Account	Number	to	
another	 (without	 our	 required	 consent);	 or	 (2)	 by	 any	 other	 means	 in	
which	 you	 would	 be	 legally	 considered	 to	 have	 allowed	 another	 to	 use	
your	Account	or	be	legally	prevented	from	denying	that	you	did	so.	You	
should	 think	 carefully	 before	 you	 allow	 someone	 to	 become	 an	
Authorized	User	(in	any	manner).	By	doing	so,	you	authorize	the	person	
to	use	your	Account	to	the	same	extent	you	can,	including	but	not	limited	
to	 making	 Purchases,	 Cash	 Advances,	 Balance	 Transfers	 and	 allowing	
others	 to	 use	 your	Account.	Your	Account	 does	 not	 permit	 you	 to	 limit	
the	nature	or	amount	of	authority	you	give	to	any	Authorized	User	and	
you	 agree	 that	 you	 will	 not	 attempt	 to	 do	 so.	 An	 Authorized	 User’s	
authority	will	continue	until	you	both	notify	us	that	you	are	terminating	
the	authority	and	you	physically	retrieve	the	Card.	If	you	cannot	retrieve	
the	Card,	you	will	remain	liable	for	any	transactions	we	cannot	prevent	
after	you	notify	us.

10. PAYMENTS. We will send you a statement every month showing
your  Previous  Balances  of  purchases  and  cash  advances,  the  current 
transactions  on  your  account,  the  remaining  credit  available under  your 
Credit Line, the New Balances of purchases and cash advances, the Total 
New  Balance,  the  FINANCE  CHARGE(S)  due  to  date,  and  the 
Minimum  Payment  required.  Every  month  you  promise  to  pay  at  least 
the  Minimum  Payment  on  or  before  the  due  date  shown  on  your 
statement. A late payment fee (as set forth in the fee schedule included 
with this Agreement) will be charged if the required minimum payment 
due under this Agreement is not received on or before the tenth day after 
its due date. You may, of course, pay more frequently, pay more than the 
Minimum Payment, or pay the Total New Balance in full, and you will 
reduce the FINANCE CHARGE(S) by doing so. The Minimum Payment 
will be either (a) 3% of your Total new Balance (rounded to the nearest 
dollar), or $25.00, whichever is greater, or (b) your total New Balance,

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	if	it	is	less	than	$25.00	plus	(c)	any	portion	of	the	Minimum	Payment(s)	
shown	 on	 prior	 statement(s)	 which	 remains	 unpaid.	 In	 addition,	 at	 any	
time	 your	 total	 New	 Balance	 exceeds	 your	 credit	 limit,	 you	 must	
immediately	 pay	 the	 excess	 upon	 our	 demand.	Any	 payment	 check  or 
other form of payment that you send us for less than the full balance	due	
that	 is	 marked	 “paid	 in	 full”	 or	 contains	 a	 similar	 notation,	 or	 that	 you	
otherwise	tender	in	full	satisfaction	of	a	disputed	amount,	must	be	sent	to	
Michigan  First  Credit  Union,	 27000  Evergreen  Road,  Lathrup  Village,	
MI 48076.	We	reserve	all	our	rights	regarding	these	payments	(e.g.,	if	it	
is	 determined	 that	 there	 is	 no	 valid	 dispute	 or	 if	 any	 such	 check	 is	
received	at	any	other	address,	we	may	accept	the	check	and	you	will	still	
owe	any	remaining	balance).	We	may	refuse	to	accept	any	such	payment	
by	returning	it	to	you,	not	cashing	it,	or	destroying	it. All other payments 
that you make should be sent to the appropriate payment address.

The	 Credit	 Union	 at	 its	 sole	 discretion,	 may	 give	 you	 the	 option	 of	
skipping one or more monthly credit card payments during the calendar 
year.	 If	 you	 are	 eligible	 to	 skip	 a	 payment	 for	 any	 given	 month	 the	
minimum  monthly  payment  shown  on  your  periodic  statement  will  be 
zero.	If	you	do	so,	interest	charges	on	outstanding	balances	will	continue	
to	 accrue	 during	 those	 months,	 but	 late	 charges	 will	 not	 be	 applied.	
Here’s	the	best	part	-	you	don’t	even	need	to	apply.

11. PAYMENT	ALLOCATION.	We	may	select	and	change	the

method by which payments and credits are allocated to your account at	
our	 sole	 discretion;	 however,	 payments	 will	 be	 allocated	 to	 billed	
amounts	 before	 they	 are	 allocated	 to	 unbilled	 amounts	 (transactions	
incurred	 since	 your	 last	 statement)	 and	 payments	 amounts	 in	 excess	
of the required minimum monthly payment will be applied to higher rate	
balances	 before	 they	 are	 applied	 to	 lower	 rate	 balances.	 Payment	 for 
more than the minimum amount due will be accepted as a single payment	
for	the	month;	the	amount	over	the	minimum	is	not	applied	toward future 
payments due.

12. FINANCE	 CHARGE(S).	 Your	 account	 is	 subject	 to	 a	 variable
rate.	 Your	 ANNUAL	 PERCENTAGE	 RATE	 (APR)	 may	 increase	 or	
decrease	 if	 the	 Index	 used	 by	 the	 Credit	 Union	 increases	 or	 decreases.	
The	Index	is	the	highest	rate	of	interest	indentified	as	the	“Prime	Rate”	in	
the	 “Money	 Rates”	 section	 of	 The	 Wall	 Street	 Journal	 on	 the	 third 
business day preceding the end of the most recently concluded calendar	
quarter.	 	 To	 determine	 the	 ANNUAL	 PERCENTAGE	 RATE	 that	 will	
apply	to	your	account,	a	Margin	is	added	to	the	value	of	the	Index.	Your	
Margin	and	the	required	disclosures	of	your	ANNUAL	PERCENTAGE	
RATE	and	corresponding	monthly	periodic	rate	are	set	forth	in	the	“How	
Your	Annual	 Percentage	 Rate	 is	 Determined”	 section	 of	 the	 separate	
document	 provided	 to	 you	 referred	 to	 in	 Section	 1.	 The	 ANNUAL	
PERCENTAGE	 RATE	 can	 change	 quarterly	 on	 the  first	 day	 of	 the	
billing	 cycles	 which	 begin	 in	 the	 months	 of	 January,  April,	 July,	 and	
October.	 There	 is	 no	 limit	 on	 the	 amount	 by	 which	 the  ANNUAL	
PERCENTAGE	 RATE	 can	 change	 except	
the	 ANNUAL 
PERCENTAGE	RATE	will	never	be	more	than	25.00%.		In	no	event will	
the	rate	ever	exceed	the	maximum	rate	permitted	by	law.	Any change	in	
the	ANNUAL	PERCENTAGE	 RATE	affects	your	 entire balance	and	 is	
effective	 at	 the	 beginning	 of	 the	 first	 billing	 cycle	 which  follows	 the	
change.	The	Credit	Union	reserves	the	right	to	substitute	a

that	

agree to pay any related charges that are imposed as a result of 
your use of the Visa Credit Card or	an	ATM.	

31. LIABILITY	FOR	FAILURE	TO	COMPLETE 

TRANSACTIONS.	We	will	not	be	liable	for	transactions	that	are	not	

completed	if	any	of	the	following	circumstances	apply:

• Through	 no	 fault	 of	 ours,	 you	 do	 not	 have	 sufficient	 funds
available	in	your	credit	line;
• 	The	transaction	would	cause	you	to	exceed	your	credit	limit;
• 	The	ATM	where	you	are	requesting	a	cash	advance	does	not	have
enough cash;
• The terminal or system was not working properly and you knew
of the malfunction at the time you initiated the transactions;
• Circumstances	beyond	our	control	(such	as	fire	or	flood)	prevent
the	transaction,	despite	reasonable	precautions	we	have	taken;
• 	Your	Card	is	retained	by	the	ATM;
• Your	 Card	 or	 PIN	 has	 been	 reported	 lost	 or	 stolen	 and	 your
account has been blocked or frozen;
• 	Your	account	is	in	default;
• You	 or	 anyone	 authorized	 by	 you	 to	 conduct	 a	 transaction
commits	fraud	or	violates	any	laws	or	regulations;	or
• 	You	fail	to	follow	the	instructions	on	the	screen	or	terminal.

32. LIABILITY	FOR	UNAUTHORIZED	USE.	You	may	be	liable
for	the	unauthorized	use	of	your	credit	card.	You	will	not	be	liable	for	
unauthorized	 use	 that	 occurs	 after	 you	 notify	 Michigan	 First	 Credit	
Union	 at	 the	 address	 or	 telephone	 number	 set	 forth	 below.	You	 must	
notify	us	orally	or	in	writing	of	the	loss,	theft,	or	possible	unauthorized	
use.	In	any	case,	your	liability	will	not	exceed	$50.00.	Notify	us	at:

Card	Services Dispute	Processing
P.O.	Box	37035
Boone,	IA	50037  
866.820.2946

OR

Michigan	First	Credit	Union
 27000	Evergreen	Road
 Lathrup	Village,	Michigan	48076 
800.664.3828

33.LIMITATIONS	OF	RESPONSIBILITY.	We	will	not	be

responsible	 for	 merchandise	 or	 services	 purchased	 by	 you	 with	 the	
Card(s).	 We	 are	 not	 liable	 for	 the	 refusal	 or	 inability	 of	 merchants,	
financial	 institutions	 and	 others	 to	 accept	 your	 card(s)	 or	 electronic	
terminals	to	honor	them	or	complete	a	transaction,	or	for	their	retention	
of	the	Card(s).

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	 	 unless	 you	 can	 provide	 us	 with	 the	 merchant’s	
cancellation	  number.
• Recurring	Transactions	 –	 If	 you	 authorize	 a	 merchant	 to	 charge
your	Account	for	repeat	transactions	without	your	Card,	you	must
notify	the	merchant,	and	not	us,	when	you	want	to	discontinue	the
repeat transactions.
• Dispute	 Access	 –	 If	 you	 disagree	 with	 a	 transaction	 on	 your
statement	 or	 have	 a	 dispute	 with	 a	 merchant	 as	 a	 result	 of	 a
transaction,	 you	 agree	 to	 provide	 us	 with	 information	 and
assistance	we	reasonably	request.	Otherwise,	you	will	pay	us for
any	resulting	loss	we	have,	unless	we	are	prohibited	by	law from
holding you liable for our loss.

27. CARD AGREEMENT. You understand that your Visa 

Credit  Card  is  issued  by  us,  remains  our  property,  and  is  subject  to  rules 
governing  ATM  networks,  which  financial  institutions  must  follow.  The 
Cards  are  not  transferable.  By  using  your  Card,  you  are  agreeing  to  the 
following  additional  terms:  (1)  To  abide  by  the  rules  and  regulations  and 
those of the participating ATM network as may be amended; (2) That we 
and the ATM network may follow all electronic instructions given through 
the ATM; (3) that we may restrict the use of or terminate your Card at any 
time without notice to prevent loss to your account or to the Credit Union;
(4) your Card may not be used for any illegal transaction. 

28. DAILY LIMITS. You agree to adhere to any daily limits established 
by  the  Credit  Union  in  conformance  with  the  ATM  network agreement 
and which are subject to modification to preserve the integrity of the ATM 
network  and  prevent  loss  to  the  Credit  Union  or  its  members.    The  current 
daily limit is $800.00, the credit union may change this limit in its discretion 
and without prior notice.

29.  PERSONAL  IDENTIFICATION  NUMBER  (PIN).  Upon request 
we  will  furnish  you  with  a  Personal  Identification  Number  (PIN). 
You agree to keep the PIN confidential. You also agree you won’t write the 
PIN on the Card or anything you keep with the Card. Your use of the PIN 
in  getting  a  Cash  Advance  or  making  a  Purchase  is 
and  Card 
agreed 
to  constitute  your  signature  for  purposes  of  such  transactions. 
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  Network,  to  get  a  Cash  Advance  from  a  Visa 
financial  institution,  or  to make  a  Purchase  from  a  merchant  that  uses 
the  Card  in  an  electronic  terminal  that  accesses  the  Visa  system.  IF 
YOU  FORGET  OR  DO  NOT  ENTER  YOUR  PIN  CORRECTLY, 
THE  ATM  MAY  KEEP  YOUR  CARD  THE  THIRD  TIME  THE 
PIN  IS  ENTERED  INCORRECTLY.  THIS  PROCEDURE  IS  FOR 
SECURITY  MEASURES.  KEEP  YOUR PIN IN A SECRET PLACE. If 
you  authorize  us  to  issue  a  Card  to  anyone  else  for  use  through  any 
electronic  access  device,  you  are  authorizing  that  individual  to  withdraw 
funds  from  any  account  which  can  be  accessed  by that  Card,  regardless 
of  whether  that  individual  is  authorized  to  withdraw  money  from  the 
account by any other means.

30.  FEES  AND  CHARGES.  You  agree  to  pay      the  various  fees  and 
charges  with  respect  to  your  Account  as  set  forth  in  the  fee  schedule 
included with this Agreement or as otherwise provided to you. You agree to 
pay any related charges that are imposed as a result of your use of the Visa 
Credit Card or an ATM.

8

similar	 index	 if	 the	 index	 described	 above	 becomes	 unavailable.	 The	
FINANCE	 CHARGE(S)	 is	 calculated	 by	 applying	 the	 above	 periodic	
(monthly)	rate	to	the	Average	Daily	Balance	(including	new	purchases).	
An	 “Average	 Daily	 Principal	 Balance”	 is	 calculated	 separately	 for	
purchases	and	cash	advances	and	is	determined	as	follows:	For	each	day	
during	 the	 statement	 period	 (billing	 cycle)	 the	 principal	 balances	 of	
purchases	 and	 of	 cash	 advances	 from	 the	 previous	 day	 are	 increased	 by	
any	 purchases	 or	 cash	 advances	 posted	 to	 the	 Account	 that	 day	 and	
decreased  by  any  payments  or  credits  posted  to  the  Account  that  day. 
Such	daily	principal	balances	are	separately	totaled	and	then	divided	by	
the	 number	 of	 days	 in	 the	 statement	 period	 (billing	 cycle),	 resulting	 in	
the	“Average	Daily	Principal	Balances”	of	purchases	and	cash	advances	
shown	 on	 your	 statement.	 You	 can	 avoid	 FINANCE	 CHARGE(S)	 on	
purchases	 by	 paying	 the	 full	 amount	 of	 the	 New	 Balance	 of	 Purchases	
each  month  on  or  before  the  payment  due  date  shown  on  your  monthly 
statement.	 	 Otherwise,	 the	 New	 Balance	 of	 Purchases,	 and	 subsequent	
purchases	from	the	date	they	are	posted	to	your	account,	will	be	subject	
to	 FINANCE	 CHARGE(S),	 except	 that	 if	 during	 the	 previous	 billing	
cycle	you	paid	all	amounts	owing	in	full	by	the	Payment	Due	Date,	then	
in	 the	 current	 billing	 cycle	 you	 will	 have	 a	 free	 interest	 period	
on	 the	 amount	 of	 the	 New	 Balance	 of	 Purchases	 remaining	 from	 the	
previous	billing	cycle	that	is	paid	by	the	Payment	Due	Date	based	on	our 
payment allocation method.

13. PERIODIC	STATEMENTS.	We	will	send	you	a	statement
every  month	 showing	 your	 previous	 balance,	 purchases	 and	 cash	
advances,	 payments	 made	 on	 your	 account,	 periodic	 rate,	 annual	
percentage	 rate,	 finance	 charge	 and	 its	 method	 of	 computation,	 any	
other	 charges,	 free	 interest	 period,	 payment	 due	 date,	 procedures	
for	 error	 resolution,	 Minimum	 Payment	 required,	 and	 the	 closing	
date	 with	 corresponding	 New	 Balance	 for	 the	 billing	 cycle.	 You	 may	
not	 receive	 a	 statement	 on	your	Account	 if	 there	 has	 been	 no	 activity	
or	 if	 collections	 procedures	have	 been	 initiated	 against	 you	 because	
you	 are	
in	 default.	 Each	 statement  is  deemed  to  be  a  correct 
statement  unless  you  establish  a  billing	 error	 pursuant	 to	 the	 Federal	
Truth	in	Lending	Act	as	described	in	this Agreement.

14. DEFAULT.	 You	 will	 be	 in	 default	 and	 we	 may,	 to	 the
extent permitted	by	law,	terminate	your	credit	line	and	declare	the	entire	
unpaid	balance	 of	 the	 account	 immediately	 due	 and	 payable,	 under	 any	
of	 the	following	conditions:

• you  fail  to  make  the  minimum  payment  by  the  statement
payment due date;
• you  breach  any  other  promises  made  in  or  conditions  of  the
Agreement	and/or	any	other	agreement	with	us;
• you use your card for an illegal transaction;
• if	 you	 become	 involved	 in	 any	 insolvency,	 receivership,
guardianship,	 conservatorship,	 or	 any	 other	 proceeding	 which
determines	you	are	incapable	of	managing	your	financial	affairs,
including	filing	for	Bankruptcy;
• you	 have	 made	 a	 false	 or	 misleading	 statement	 in	 your	 credit
application	 and/or	 in	 your	 representation	 to	 us	 while	 you	 owe
money on your account;
• a	 judgment	 or	 tax	 lien	 is	 filed	 against	 you	 or	 any	 attachment
or	garnishment	is	issued	against	any	of	your	property	or	accounts,

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  including anyone starting an action or proposing to seize any of   
your funds on deposit with us;
• we	 in	 good	 faith	 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,	time	being	of	the	very	essence;
• you die; or
• government	action	precludes	us	from	imposing	the	annual percentage
rate	or	a	government	authority	has	notified	us	that continued	advances	
constitute	an	unsafe	and	unsound	practice. In	the	event	of	any	default,
we	may,	at	our	option,	declare	the	entire balance on the Account to be 
immediately due and payable. If you are in default we may, instead of
terminating your Account and declaring the entire unpaid balance due
and payable, suspend your credit privileges but not declare what you
then owe immediately due and payable. If we do the latter, we reserve
the right to later terminate the Account and declare the entire unpaid
balance  due  and  payable  at  any  time  before  you  cure  the  default  by
paying all past due amounts.

22. CREDIT	 REPORTING	AGENCIES.	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	 consumer	 reporting	
agencies,	 bureaus	 and	 other	 creditors.	 If	 you	 request	 it,	 we	 will	 provide	
the  name  and  address  of  each  consumer  reporting  agency  used  for  this 
purpose.	 If	 you	 believe	 we	 have	 reported	 inaccurate	 information	 about	
you	 to	 a	 consumer	 reporting	 agency,	 please	 notify	 us	 at	 Michigan	 First	
Credit	Union,	27000	Evergreen	Road,	Lathrup	Village,	Michigan	48076.	
In	 doing	 so,	 please	 identify	 the	 inaccurate	 information	 and	 tell	 us	 why	
you	 believe	 it	 is	 incorrect.	 If	 you	 have	 a	 copy	 of	 the	 credit	 report	 that	
contains	the	alleged	inaccurate	information,	please	send	us	a	copy	of	that	
report	as	well.	You	are	hereby	notified	that	negative	information	will	be	
provided	 to	 appropriate	 consumer	 reporting	 agencies	 if	 you	 fail	 to 
perform your obligations under this agreement.

15. COLLECTION	COSTS.	You	also	agree	that,	in	case	of	default, you 
will  pay  all  usual  and  customary  costs  of  collection  permitted  by  law,	
including,	but	not	limited	to,	attorney	fees	and	expenses	incurred	by	us in the 
enforcement of this agreement.

16.  DELAY  OR  FAILURE  TO  ENFORCE.  We  do  not  lose  our
rights under this or any related agreement if we delay or fail to enforce them. 
We can accept late payments or partial payments without losing any of our 
rights under this Agreement. 

to
17.  NOTIFICATION  OF  ADDRESS  CHANGE.  You  agree 
notify  us  promptly	 if	 you	 change	 your	 name,	 street	 address,	 email	
address	 or	telephone number.

23. TRANSACTION	 SLIPS.	 Your	 periodic	 statement	 will
identify the	merchant,	electronic	terminal	location,	or	financial	institution	
at	which	transactions	were	made.		You	must	retain	the	copy	of	such	slips	
furnished	at	the	time	of	each	transaction	in	order	to	verify	the	transactions	
listed	 on	 your	 statement  as  transaction  slips  cannot  be  provided  by 
Michigan First Credit Union.

24. CREDITS.	If	merchants	who	honor	your	Card	give	you	a
credit  for	 returns	 or	 adjustments,	 they	 will	 do	 so	 by	 processing	 a	 credit	
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	two	(2)	months	or	upon	your	written	request.

18. ADDRESS	 FOR	 NOTICES	 TO	 US.	 All	 notices	 under	 this
Agreement	 must	 be	 in	 writing	 and	 mailed	 to	 Michigan	 First	 Credit	 Union,	
27000	Evergreen	Road,	Lathrup	Village,	Michigan	48076.

19. CHANGE	 IN	 TERMS.	 From	 time	 to	 time,	 we	 may	 amend	 this
Agreement  by  mailing  a  written  notice  of  the  amendment  to  you  at  the  last	
address	 shown	 for	 you	 in	 our	 records.	 In	 the	 event	 the	 terms	 we	 are	
changing	 require	 advance	 notice	 by	 law,	 we	 will	 comply	 with	 the	
requirements of that law. 

25. FOREIGN	 TRANSACTIONS.	 Purchases	 and	 cash
advances made in foreign countries and foreign currencies will be billed 
to  you	 in	 U.S.	 dollars.	 The	 exchange	 rate	 for	 transactions	 in	 a	 foreign	
currency	will	be	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,	 as	 provided	 in	 Section	 30,	 we	 will	 separately	 bill	 you	 a	 1%	
International	Transaction	Fee.

20. YOU	MAY	CANCEL	THE	ACCOUNT.	You	may	cancel	the account
whenever	 you	 choose.	 If	 you	 do,	 you	 agree	 to	 cut	 each	 Card	 in	 half	 and	
return	 it	 to	 us	 at	 the	 address	 shown	 in	 Section	 18	 above,	 along	 with	 your	
written	 notification	 that	 you	 wish	 to	 cancel	 the	Account.	 Such	 cancellation	
will	become	effective	within	five	days	after	the	notice	is	received	by	us.	You	
will	 still	 be	 responsible	 for	 the	 repayment	 of	 any	 outstanding	 balance	 on	
your	Account	and	any	other	amounts	that	have	not yet been billed to you.

21. WE	 MAY	 CANCEL	 THE	 ACCOUNT.	 We	 have	 the	 right	 to
cancel  the Account  at  any  time  upon  written  notice  sent  to  you  at  the  last 
address  shown  for  you  in  our  records.  You  agree  to  discontinue  the  use  of 
the Cards, and to return the Cards to us, at our request. 

26.	TRANSACTIONS	WITH	MERCHANTS.

• Return	Policies	–	If	a	merchant	discloses	a	policy	such	as	but	not
limited	to	“no	returns,”	“no	refunds,”	“as	is,”	or	“all	sales	final”
you will be bound by that policy when you use your Account to
buy	goods	or	services	from	that	merchant.

• Reservations	–	When	using	your	Account	to	make	a	travel	or
lodging	reservation,	obtain	the	merchant’s	cancellation	policy
and	follow	it	if	you	wish	to	cancel.	If	you	cancel,	obtain	the
merchant’s	cancellation	number	that	is	required	to	be	provided	to
you. The merchant may charge you for a cancelled transaction

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