PO Box 9750 • Bellingham WA 98227–9750
360.676.1168  (cid:129)  800.525.8703
TTY 800.833.6388 (cid:129) www.wecu.com

VISA  CREDIT  CARD  AGREEMENT

This Agreement covers this VISA Credit Card account, issued by Whatcom Educational Credit Union (WECU®). In this Agreement the words
“you,” “your,” “yours,” “applicant,” and “Borrowers” mean any person who signs the application for this Account, any joint obligor, guarantor,
authorized user, or the person whose name is embossed on the Card. The words “we,” “us,” “our,” and “Lender” mean Whatcom Educational
Credit Union. The word “Card” means any one or more credit card(s) issued to you under the Credit Union’s VISA Classic and Platinum Card
programs. If you sign an application for this Account or sign or use any Card or PIN, or allow others to use the Card or PIN, you and they
will have accepted this Agreement just as if you and they signed it, and you and they, jointly and severally, will be bound by the following terms
and conditions which will govern this Account.

TO REPORT A LOST OR STOLEN  VISA CARD: During regular business hours call WECU®, after hours and weekends call 800.682.6075.

1.  Responsibility.  If we issue you a Card, by signing or using your Card
or account number for any transaction, you agree to repay all debts and
the FINANCE/INTEREST CHARGE arising from the use of the Card
and the Card account. For example, you are responsible for charges
made by yourself, your spouse and minor children. You are also
responsible for charges made by anyone else to whom you give the Card,
and this responsibility continues until the Card is recovered. You
cannot disclaim responsibility by notifying us, but we will close the
account for new transactions if you so request and return all Cards.
Your obligation to pay the account balance continues even though an
agreement, divorce decree or other court judgment to which we are not
a party may direct you or one of the other persons responsible to pay
the account. Any person using the Card is jointly responsible with you
for charges he or she makes, but if that person signs the Card he or she
becomes a party to this agreement and is also jointly responsible for all
charges on the account, including yours.

2.  Lost card notification. If you believe the Card has been lost or stolen,
you will report it immediately. During regular business hours, call the
Credit  Union  at  360.676.1168  or  800.525.8703,  ext.  7360.  After  hours
and on weekends call 800.682.6075.

3.  Liability for unauthorized use. If you notify us of your lost or stolen
Credit Card, you will not be liable for any losses. This liability exclusion
will apply provided you were not grossly negligent or fraudulent in handling
your Credit Card; otherwise your liability is limited to $50.

4.  Credit line. If we approve your application, we will establish a self-
replenishing Line of Credit for you and notify you of its amount when we
issue  the  Card. You  agree  not  to  let  the  account  balance  exceed  this
approved Credit Line. Each payment you make on the account will restore
your  Credit  Line  by  the  amount  of  the  payment,  which  is  applied  to
principal. You may request an increase in your Credit Line only by written
application to us, which must be approved by our credit committee or
loan officer. By giving you written notice our credit committee may reduce
your Credit Line from time to time, or with good cause, revoke your Card
and terminate this Agreement. Good cause includes your failure to comply
with this agreement or our adverse reevaluation of your credit worthiness.
You may also terminate this Agreement at any time, but termination by
either of us does not affect your obligation to pay the account balance.
The Cards remain our property and you must recover and surrender to us
all Cards upon our request and upon termination of this Agreement.

5.  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  your  account  to  credit  bureaus  and
other creditors who inquire of us about your credit standing, to the extent
authorized in our bylaws.

6.  Monthly payment.

A. Minimum  Monthly payment. We will mail you a statement every
month if your account has a balance. You agree that you will pay each
month not less than the minimum monthly payment on or before the
scheduled monthly due date. The minimum monthly payment will be
3.0% of your outstanding balance (“New Balance”) or $20.00, whichever
is greater. If your outstanding balance is $20.00 or less, you agree to pay
the balance in full. You may pay in full for all your purchases and cash
advances each month, or your may repay in monthly installments. We
can  accept  late  payments  or  partial  payments,  or  checks,  drafts,  or
money orders marked “payment in full” without prejudice to our rights
under this Agreement, which are hereby explicitly reserved. A credit
posting from a merchant or reversal of fees do not constitute a minimum
payment.  The  minimum  monthly  payment  may  be  allocated  at  the
Credit  Union’s  discretion  to  pay  off  lower  rate  balances,  such  as
promotional offers, before higher rate balances, such as cash advances
or purchases. Payments in excess of the minimum  monthly payment
will be allocated first to higher rate balances, as applicable. From time to
time, we may allow you to skip your minimum monthly payment due.
If you choose to skip this payment, FINANCE/INTEREST CHARGES
will continue to accrue in accordance with this Agreement. Payments
received  at  Whatcom  Educational  Credit  Union,  PO  Box  9750,
Bellingham WA 98227 at or before 5:00pm Pacific Time on any business
day will be credited to your Account as of that date; payments received
by mail at that address after 5:00pm Pacific Time, on a weekend or
federal holiday will be posted to your Account as of the next business
day. Payment crediting to your Account may be delayed up to five days
if  your  payment  is  received  by  mail  at  any  other  address  or  not
accompanied by the remittance portion of your Account statement.
B. Payment method. You make your monthly payment by either an
electronic or manual payment method. Electronic payment methods
include  payment  transfers  made  through  E-Max  (online  banking),
Tele-Max (automated telephone banking), periodic preauthorized debits
or payroll deduction. Manual payment methods include payments made
in person, by mail, or telephone instructions through the Call Center.
Electronic payment is required for Platinum accounts.

7.  Finance/Interest charge. A FINANCE/INTEREST CHARGE  will be
imposed on the portion of purchases included in the New Balance that
remains unpaid within 25 days after the closing date (within 23 days for
the February statement due March 10th). This “grace period”  allows you
to avoid a FINANCE/INTEREST CHARGE  on purchases for a billing
cycle. However, if you do not pay the New Balance for purchases within
the grace period, your FINANCE/INTEREST CHARGE will accrue on
any unpaid purchase transactions from the date of purchase.
For Visa Classic Cards, FINANCE/INTEREST CHARGES are calculated
at the Periodic Rate of 1.07500% per month (ANNUAL PERCENTAGE
RATE of 12.9%), on the average daily principal balances of purchases,
balance transfers and cash advances in the account. For Visa Platinum
Cards, FINANCE/INTEREST CHARGES are calculated at the Periodic

will  be  shown  as  a  credit  advance  on  your  monthly  statement.  The
Credit Union may not complete your balance transfer request if the
transfer advance would exceed your credit limit or your account has
been terminated or suspended.

12.    Returns  and  adjustments.  Merchants  and  others  who  honor  the
Card may give credit for returns or adjustments, and they will do so by
sending us a credit slip, which we will post to your account. If your credits
and payments exceed what you owe us, we will hold and apply this credit
balance against future purchases and cash advances, or if it is $10.00 or
more, refund it on your written request or automatically after 90 days.

13. Currency  conversion/foreign  transactions.      Purchases  and  cash
advances made in foreign countries will be billed to you in U.S. dollars.
The currency conversion rate for international transactions as established
by VISA International, Inc. is a rate selected by VISA from the range of
rates available in wholesale currency markets for the applicable central
processing date, which may vary from the rate VISA itself receives, or the
government-mandated rate in effect for the applicable central processing
date. In addition, you will be charged a Foreign Transaction Fee of 1% of
the transaction amount for any card transaction made in a foreign country
and for Internet merchants that bill through a foreign financial institution.

14.  Plan merchant disputes. We are not responsible for the refusal of any
plan merchant or financial institution to honor your Card. We are subject
to claims and defenses (other than tort claims) arising out of goods or
services you purchase with the Card only if you have made a good faith
attempt,  but  have  been  unable  to  obtain  satisfaction  from  the  plan
merchant, and (a) your purchase was made in response to an advertisement
we sent or participated in sending you; or (b) your purchase cost more
than $50.00 and was made from a plan merchant in your state or within
100 miles of your home. Any other disputes you must resolve directly with
the plan merchant.

15.  Security interest.     You grant the Credit Union a security interest under
the Washington Uniform Commercial Code in any goods purchased with
your Card.  You agree that all collateral you have given the Credit Union to
secure other consumer loan obligations (except dwelling secured loans),
in  the  past  and  in  the  future,  will  secure  your  obligations  under  this
Agreement.  In addition, by signing the Card Application, you have given
the  Credit  Union  a  security  interest  in  all  your  deposits,  present  and
future, and all accounts (except Individual Retirement Accounts) with
the Credit Union and you agree, upon default, the Credit Union may
apply all that is secured to pay any amounts due under this Agreement,
without further notice to you.

16.  Effect of agreement. This Agreement is the contract that applies to all
transactions on your account even though the sales, cash advance, credit
or other slips you sign or receive may contain different terms. We may
amend this agreement from time to time by sending you the advanced
written notice required by law. Your use of the Card thereafter will indicate
your agreement to the amendments. To the extent law permits, and we
indicate in our notice, amendments will apply to your existing account
balance as well as to future transactions.

Rate of 0.7917% per month (ANNUAL PERCENTAGE RATE of 9.5%)
for purchases and balance transfers and 1.0750% Periodic Rate (ANNUAL
PERCENTAGE RATE of 12.9%) for cash advances.  We figure the Periodic
FINANCE  /INTEREST  CHARGE  on  your  Account  by  applying  the
Periodic  Rate  to  the “Average  Daily  Balance”  of  the  account  including
current  purchases  and  cash  advances  for  your  Account.  We  take  the
beginning purchase and cash advance balances of your Account each day,
add any new purchases and cash advances and subtract any payments or
credits, unpaid FINANCE/INTEREST CHARGES and unpaid late charges
to get the daily balance. We then add up all the daily balances and divide by
the number of days in the billing cycle to get the Average Daily Balance.
The FINANCE/INTEREST CHARGE is determined by multiplying the
average daily balance by the number of days in the billing cycle and applying
the Periodic Rate to the amount. No FINANCE/INTEREST CHARGE is
imposed on purchases to the extent payments and credits for purchases
are made on or before the 10th day of the month following the previous
billing cycle.

8.  Other charges. Your account will be subject to other charges
including, without limitation, NSF check charge $5.00; late charge of
5% of the minimum monthly payment or $15.99, whichever is greater,
will be assessed if your payment is not received within 10 days of the
date due; copies of drafts $12.00; plastic replacement cost of $5.00.

9.  ATM fees. If you use an ATM to obtain a cash advance and the ATM is
not operated by us, you may be charged an ATM surcharge by the ATM
operator or an ATM network utilized for such a transaction. The ATM
surcharge may be charged to your account if you complete the transaction.

10.  Default. You will be in default if your payments are not made when
due. You will also be in default if your ability to repay us is materially
reduced by a change in your employment, an increase in your obligations,
bankruptcy or insolvency proceedings involving you, your death or your
failure to abide by this Agreement, or if the value of our security interest
materially declines. We have the right to demand immediate payment of
your full account balance if you default, subject to our giving you any
notice required by law. To the extent permitted by law, you will also be
required to pay our collection expenses, including collection agency fees
and costs if applicable, court costs and reasonable attorney’s fees.

11.  Accessing your account. You may access your Account by using your
Card and Personal Identification Number (PIN), using convenience checks
and  balance  transfer  coupons,  and  authorizing  transactions  with  your
account number over the phone or Internet.

A.  Card use. To make a purchase or cash advance, you must comply
with the Credit Union’s procedures for authorizing such transactions.
You may present your Card to a participating VISA plan merchant, to
us or to another financial institution, and sign the sales or cash advance
draft which will be imprinted with your Card. You may complete the
transaction  by  using  your  PIN  in  conjunction  with  the  Card  in  an
Automated Teller Machine (ATM) or other type of electronic terminal
that provides access to the VISA system. You may authorize a purchase
transaction with merchants by providing your Card account number
and expiration date for transactions over the telephone or Internet.
The monthly statement will identify the merchant, electronic terminal
or financial institution at which transactions were made, but sales, cash
advance, and credit or other slips cannot be returned with the statement.
You  will  retain  the  copy  of  such  slips  furnished  at  the  time  of  the
transaction in order to verify the monthly statement. The Credit Union
may make a reasonable charge for photocopies of sales slips you may
request. You may not use the Card for any illegal or unlawful transaction,
including  Internet  gambling  transactions,  and  we  may  decline  to
authorize any transaction that we believe poses an undue risk of illegality
or unlawfulness.
B.  Balance transfer coupons. If the Credit Union approves, you may
access your account and obtain advances by signing a balance transfer
coupon and authorizing the Credit Union to pay off existing obligations
of other financial institutions. Your use of a balance transfer coupon

17.  Billing errors notice rights for VISA Credit Card transactions.

A.    Notify  us  in  case  of  errors  or  questions  about  your  billing
statement. This  notice  contains  important  information  about  your
rights and our responsibilities for VISA Credit Card transactions under
the Fair Credit Billing Act. If you think your statement is wrong, or if
you need more information about a transaction on your statement,
write to us at the address shown above  and on each billing statement.
Write to us as soon as possible. We must hear from you no later than 60
days after we sent you the first statement 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 VISA Credit
Card transaction 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 Account Statement automatically
from your 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.
B.    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 statement 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 statement
you for the amount you question, including FINANCE/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 statement
that are not in question.

If we find that we made a mistake on your statement, you will not have
to pay any FINANCE/INTEREST CHARGE related to any questioned
amount. If we didn’t make a mistake,  you may have to pay FINANCE/
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.  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
statement. And, we must tell you the name of anyone to whom we
reported you.  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 $50.00 of the questioned amount, even if your
statement was correct.

C.  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:
i. 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

ii. The purchase price must have been more than $50.00.
These limitations do not apply if we own or operate the merchant, or if
we mailed you the advertisement for the property or services.

© 2011 Whatcom Educational Credit Union / Farleigh, Wada & Witt, P.C.

05/11–2M