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.

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 mailing address; and
(b) The purchase price must have been more than $50.

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

The Federal Equal Credit Opportunity Act prohibits
creditors from discriminating against credit applicants on
the basis of race, color, religion, national origin, sex, marital
status, age (provided that the applicant has the capacity to
enter into a binding contract); because all or part of the
applicant’s income derives from any public assistance
program; or because the applicant has in good faith
exercised any right under the Consumer Credit Protection
Act. The agency that administers compliance with this law
concerning this Credit Union is:

Michigan Department of Consumer and Industry Services
Office of Financial and Insurance Services
P.O. Box 30224, Lansing, MI 48909

12. Illegal Transactions – You agree not to use your Card for
any illegal transactions.
13. Default – The Minimum Payment shown on the
statement is due by the payment due date as shown on the
statement. You will be in default if you fail to make the
minimum payment by the statement payment due date. You
will also be in default if (a) you breach any other conditions
of the Agreement (including your agreement not to allow
your balance to exceed your credit limit), (b) 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 (c) 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, but not limited to, attorney fees and expenses
incurred by us in the enforcement of this agreement.

14. 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 other creditors.

15. 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.

16. Amendment of Agreement – From time to time, we may
amend this Agreement by giving you written notice of the
amendment at least 15 days before it goes into effect, unless
a shorter notice period is permitted by law or no notice is
required 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.

17. Cash Advance by Machine – If Automated Teller
Machines (ATMs) 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
confidential Personal Identification Number (PIN). 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. If you use an
ATM that is not owned by us, you may be charged a fee for
using that machine to obtain a cash advance.

18. 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 and Card in getting
a Cash Advance or making a Purchase is agreed to consti-
tute 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 or
MasterCard Network, to get a Cash Advance from a VISA/
MasterCard financial institution or make a Purchase from a
merchant that uses the Card in an electronic terminal that
accesses the VISA/MasterCard system.

19. Record Keeping – You hereby agree that we may keep
the portion of this Agreement which bears your signature so

that we can comply with federal and/or state laws relating
to loan documents we are required to keep in our files.
20. Credit Union Membership – You understand and agree
that the closing of your Credit Union 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/MasterCard/VISA Gold/VISA
Platinum.

21. No Waiver of Rights – Even though we may have rights
to take or not take certain action under this Agreement, we
may decide not to enforce those rights. Our decision not to
enforce any right we have under this Agreement does not
mean that we waive that right in the future.

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.

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 9200 Haggerty Road, Plymouth, MI 48170.
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:
(cid:129) Your name and account number.
(cid:129) The dollar amount of the suspected error.
(cid:129) Describe the error and explain, if you can, why you
believe there is an error. If you need more information,
describe the item you are not sure about.

If you have authorized us to pay your credit card bill
automatically from your savings or checking 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

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.

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
finance 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.

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

If you fail to pay the amount that we think you owe, we

Credit Card Disclosure

(Effective 4/1/08)

Website: www.michedcu.org
e-mail: general@michedcu.org

Office Hours (All MECU Locations)
9:30 a.m. to 5:30 p.m. Monday thru Friday

Main Office
9200 Haggerty Road (cid:129) Plymouth, MI 48170
Phone: (734) 455-9200

Toll-Free Phone: (888) 261-3355
(Outside Metro Detroit area)

Important MECU Credit Card Phone Numbers

24-Hour Credit Card Customer Service
(800) 654-7728

Lost or Stolen Cards
(800) 449-7728

04/08

M-93383

CREDIT CARD AGREEMENT AND
TRUTH-IN-LENDING
DISCLOSURE STATEMENT

Annual
Percentage Rate
(APR) for
Purchases

Other APRs:
Cash Advance &
Balance Transfer

Grace Period

VISA/MasterCard:
11.90% APR
VISA Gold:
10.90% APR
VISA Platinum:
9.90% APR

VISA/MasterCard:
11.90% APR
VISA Gold:
10.90% APR
VISA Platinum:
9.90% APR

You have 25 days on
purchases from the end
of the statement closing
date to pay your balance
before being charged a
finance charge.

Annual Fee

None

Late Payment
Fee

Other Charges

Method of
Computing the
Balance for
Purchases

If a payment is 10 days
or more late, we may
charge you a late fee
of $15.00.

Minimum Finance
Charge – None

Transaction Fee for
Purchases – None

Transaction Fee for Cash
Advances – None

Average Daily Balance
Method (Including
Current Transactions)

In this agreement (called the “Agreement”), 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/MasterCard/VISA
Gold/VISA Platinum Credit Card or Cards and any
duplicates and renewals thereof or substitutions thereof we
may issue. “Account” means your VISA/MasterCard/VISA
Gold/VISA Platinum 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. Responsibility – By signing the Agreement, you are
applying to us for a VISA/MasterCard/VISA Gold/VISA
Platinum Credit Card line of credit loan. If we approve the
loan and issue you a Card, you promise to repay all debts
and the FINANCE CHARGE thereon arising from any
authorized use of the Card. You agree not to let someone
else use the card. 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 FINANCE CHARGE thereon. Your obligation to pay all
such debts and FINANCE 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 FINANCE CHARGE.

2. Credit Line – If we approve your loan application, 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. That mailer is
hereby incorporated herein as part of this Agreement. You
agree not to let your Account Balance exceed such amount.
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 when required by law or regulation to do so.
“Good Cause” includes but is not necessarily limited to your
failure to satisfy the terms of this agreement or our adverse
reevaluation of your Credit worthiness. In the event your
VISA/MasterCard/VISA Gold/VISA Platinum Credit Line
is cancelled or revoked due to default, the balance at the
time of default may be transferred in-house with the Credit
Union and, as a consequence thereof, be included within
your Revolving Credit Agreement for collection at the same
rate as set forth in the Revolving Credit Agreement.
However, you may terminate this Agreement, at any time
and for any reason, by giving us written notice. Neverthe-
less, termination by you or by us does not affect your
obligation to pay all debts and FINANCE 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/MasterCard plan merchant or
financial institution, or to us, and sign the sales draft or cash
advance draft which will be imprinted with your Card.

Please note that we are not responsible if a particular VISA/
MasterCard 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
your monthly statement. We will upon request furnish you
with a copy of a draft at a charge of $1.00 per copy;
however, no charge will be made in cases involving error
resolution.
4. Monthly Payment – We will mail 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 due to date, and the
Minimum Payment required. Every month you must pay at
least the Minimum Payment within 25 days of your
statement closing 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 by doing so. The Minimum Payment
will be either (a) 3% of your Total New Balance, or $10.00,
whichever is greater, or (b) your total New Balance, if it is
less than $10.00 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 Line, you must immediately pay the
excess upon our demand. We will apply your payments first
to previously billed and unpaid FINANCE CHARGE on
purchases; then to previously billed and unpaid FINANCE
CHARGE on cash advances; then to previously billed
purchases; then to cash advances; and then to new pur-
chases, whether or not billed on the monthly statement.
However, any payment equal to, or greater than, the
Previous Balance of Purchases will be applied first to that
balance and any FINANCE CHARGE thereon so as to avoid
continuing accrual of FINANCE CHARGE on that amount.

5. Finance Charges – Your VISA/MasterCard Account will
be subject to a FINANCE CHARGE (interest) at the periodic
rate of .992% per month, which corresponds to an ANNUAL
PERCENTAGE RATE of 11.90%. Your VISA Gold Account
will be subject to a FINANCE CHARGE (interest) at the
periodic rate of .908% per month, which corresponds to an
ANNUAL PERCENTAGE RATE of 10.90%. Your VISA
Platinum Account will be subject to a FINANCE CHARGE
(interest) at the periodic rate of .825% per month, which
corresponds to an ANNUAL PERCENTAGE RATE of
9.90%. The FINANCE CHARGE 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 CHARGES on purchases by
paying the full amount of the New Balance of Purchases
each month within 25 days of your statement closing date.
Otherwise, the New Balance of Purchases, and subsequent
purchases from the date they are posted to your account,

will be subject to FINANCE CHARGE. Cash Advances bear
FINANCE CHARGE from the transaction date until paid.
There is no free interest period for Cash Advances. How-
ever, you can always keep the FINANCE CHARGE to a
minimum by making payments, whatever the amount, as
promptly and as often as possible.

6. Other Charges – If the required minimum payment due
under this Agreement is not paid within 10 days after the
payment due date, you must pay the Credit Union a Late
Charge of $15.00. No late charge will be imposed after this
Agreement has become due and payable in full due to
default as specified in the section of the Agreement entitled
“Default.”

Your account may be subject to other charges including a fee
of $2.00 for replacement of card(s) and a $1.00 fee per copy
of statements.

A charge of $2.00 will be billed to your account for a
Personal Identification Number (PIN) replacement.

There is no charge to replace a lost or stolen card after the
first, second or third occurrence. A charge of $50.00 per
occurrence will be billed to your account beginning with the
fourth occurrence of a lost or stolen card.
7. 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.

8. Foreign Transactions with VISA/VISA Gold/VISA
Platinum – Purchases and Cash Advances you make in
foreign countries and foreign currency will be billed to you
in U.S. dollars. The conversion to U.S. dollars will be
calculated based on a government-mandated rate in effect
one day prior to the Processing Date.

9. Foreign Transactions with MasterCard – If you effect a
transaction with your MasterCard in a currency other than
U.S. dollars, MasterCard International Incorporated will
convert the charge into a U.S. dollar amount. MasterCard
International will use its currency conversion procedure,
which is disclosed to institutions that issue MasterCard.
Currently the currency conversion rate used by MasterCard
International to determine the transaction amount in U.S.
dollars for such transactions is generally either a govern-
ment mandated rate or a wholesale rate determined by
MasterCard International for the processing cycle in which
the transaction is processed, increased by an adjustment
factor established from time to time by MasterCard
International. The currency conversion rate used by
MasterCard International on the processing date may differ
from the rate that would have been used on the purchase
date or cardholder statement posting date.

10. Loss or Theft of Card – You agree to notify us immedi-
ately upon discovering that your Card has been lost or
stolen. Call 1-800-449-7728.

11. 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 Educational Credit Union at 9200 Haggerty Road,
Plymouth, MI 48170, orally or in writing, of the loss, theft,
or possible unauthorized use. In any case, your liability will
not exceed $50.00.