Federally insured by theNational Credit Union Administration.24-Hour Loan Center: 866.933.6333MichiganFirst.comSecured Credit 
Card Agreement 
and Truth-in-
Lending  Disclosure
2196-VISA-005-SEC
Secured.VISA.Truth.In.Lending.12.2020.pdf   1 06/25/21   5:06 PM 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.
13  To use this right, all of the following must be true:
Revised	06/2021
Secured.VISA.Truth.In.Lending.12.2020.pdf   2 06/25/21   5:06 PM MICHIGAN	FIRST	CREDIT	UNION
SECURED CREDIT CARD AGREEMENT
AND TRUTH-IN-LENDING DISCLOSURE
1You	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:
12�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.
Secured.VISA.Truth.In.Lending.12.2020.pdf   3 06/25/21    5:06 PMTHIS IS YOUR AGREEMENT WITH MICHIGAN FIRST CREDIT 
UNION (CREDIT UNION) REGARDING RIGHTS 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 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	
and	 FINANCE	 CHARGE(S)	 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(S).	
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	
2 1142.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	 the	 provisions	 of	 this	 Agreement.	 You	 further	
acknowledge receipt of a copy of this Agreement.
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	amistake.You	must	contact	us:� Within 60 days after the error appeared on your statement.� At least 3 business days before an automated payment isscheduled,	if	you	want	to	stop	payment	on	the	amount	you	think	iswrong.
Secured.VISA.Truth.In.Lending.12.2020.pdf   4 06/25/21    5:06 PM 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 
collect money owed to us from each of you or from 
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.
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.
334.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.
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.INFORMA TION	
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.
Secured.VISA.Truth.In.Lending.12.2020.pdf   5 06/25/21   5:06 PM10. 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,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.
    10 	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	 that	 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
4agree 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	
9completed	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).
Secured.VISA.Truth.In.Lending.12.2020.pdf   6 06/25/21    5:06 PM 	 	 unless	 you	 can	 provide	 us	 with	 the	 merchant�s	
cancellation	   number.
8similar	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,
5
Secured.VISA.Truth.In.Lending.12.2020.pdf   7 06/25/21   5:06 PM� 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 
and Card in getting a Cash Advance or making a Purchase is 
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.   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.
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. 
17. NOTIFICATION OF ADDRESS CHANGE. You agree to
notify us promptly	 if	you	change	your	name,	street	address,	email	
address	or	telephone number.
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. 
20.YOU	MA Y	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. 
622.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.
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.
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.
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
7
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