Mountain America Credit Union Visa Credit Card 

Interest Rates and Interest Charges 

Credit Tier 3 

Annual Percentage Rate 
(APR) for purchases and 
balance transfers 

10.99% Variable1 
11.99% Rewards 
Variable1 

Variable Rate Information 

Prime plus 7.74% 
Prime plus 8.74% Rewards 

Annual Percentage Rate 
(APR) for cash advances2  17.9% 

Grace Period: How to 
avoid paying interest on 
purchases 

Your due date is at least 25 days after the close of each billing cycle. We will not charge you 
interest on new purchases if you pay your entire balance by the due date each month.  Grace 
period does not apply to cash advances or balance transfers. 

Minimum Interest Charge  None 

How we will calculate 
your balance 

For credit card tips from 
the Federal Reserve 
Board 

Average daily balance (including new purchases) 

To learn more about factors to consider when applying for or using a credit card, visit the 
website of the Federal Reserve Board at http://www.federalreserve.gov/creditcard. 

Fees 

Annual Fee 

None 

Balance Transfer Fee 

None 

Late Fee 

Over Limit Fee 

Card Benefits 

$15 on balances up to, but not including, $1000 
$20 on balances of $1000 up to, but not including, $2000 
$25 on balances of $2000 and over 

None 

Extra Awards Points3 

Earn one (1) award point for every $1 you spend 

Verified by Visa 

Online purchases are secure when you register 

Applications are subject to credit approval. Your rate and credit limit will be determined by individual credit worthiness 
including income, debt ratio, employment and credit history. Must be 18 years of age to qualify. Verification of income may 
be required. 

1Variable Rate Information: The Annual Percentage Rate may increase or decrease if the Prime Rate Index “PRI” increases 
or decreases.  The Prime Rate Index is the highest prime rate published in the Wall Street Journal on the last business day 
of each month. If this index is no longer available, the credit union will choose a new index which is comparable to the 
index described herein.   

2Applies to new and existing cash advance balances. 

3Redemption of Extra Awards points is subject to the terms and conditions of awards program. 

 
 
 
 
 
INITIAL DISCLOSURE AND 
CARDHOLDER AGREEMENT 

This agreement covers your VISA, and/or Swift Cash (if applicable). In this Agreement the words “you” 
and “your” mean any user of the card or cards previously indicated. “We”, “our” and “us” mean Mountain 
America Federal Credit Union. You agree that if you sign, request, use or permit others to sign or use any 
of the cards issued by Mountain America Federal Credit Union that you have agreed to all of the following 
terms. “APR” means Annual Percentage Rate. “Account” means the relationship established between you 
and Mountain America Federal Credit Union.  “Card” means VISA® Platinum Credit Card, or a VISA Debit 
Card or any other access devices we give you to access your account. “PRI” means Prime Rate Index. 

You may use your account to buy goods and services any place your card is honored. You may also use 
your account to get a cash advance or if you have Swift Cash, an overdraft advance. You agree to all 
procedures required by us or any merchant which honors your card as well as all terms on your card. Any 
plural term used in this Agreement shall be deemed singular if context and construction so require. Any 
singular term used in this Agreement shall be deemed plural if context and construction so require. 

1. HSA (Health Savings Accounts) DEBIT CARD TRANSACTIONS. Subject to Visa card regulations as 
stated in this disclosure and card holder agreement. In addition, all debit card transactions are subject 
IRS regulations and reporting as stated on your HSA application and 5305-C disclosure statement. 
(Section 11.12.) All distributions are reported to the IRS as normal distributions. 

2. CANCELLATION OF THIS AGREEMENT. You agree that the card(s) you have is our property and 
that we may terminate this Agreement if you break any of your promises or you are in default under this 
Agreement. You agree to return the card to us or we may pick it up at any time after this Agreement is 
terminated. You may end this Agreement by returning the card to us and paying the outstanding balance 
of your account in full. 

3. CREDIT LIMIT. From time to time we may modify the maximum credit limit established for all 
extensions on your account. You agree to keep the total of purchases made on your account within that 
limit.  

4. PROMISE TO PAY. You promise to pay us all amounts borrowed under this Agreement, plus any 
finance charge or other amounts due both before and after judgment. You agree to pay us on or before 
the due date shown on your monthly statement. Each month we will send you a statement showing any 
purchases, advances, or credits made on your account during that billing cycle and your new balance, 
and the date it is due. 

Visa Credit: You may pay in full for all your purchases and advances each month or you may 
make the periodic minimum payment of 2.5% of the unpaid balance or $15.00 whichever is 
greater. Balances under $15.00 must be paid in full. The “Minimum Payment” due as shown on 
your statement shall include the minimum payment due on your new balance plus any amounts 
past due, plus any amount over your credit limit. If you exceed your credit limit the excess will be 
shown on your statement as “Amount Over Credit Limit.” The amount you must pay for that 
statement will be shown as “Minimum Payment Due.” 

Visa Debit Card/Swift Cash: You may pay in full for all your advances each month or you may 
make the periodic minimum payment of 3.5% of the unpaid balance or $25.00 whichever is 
greater. Balances under $25.00 must be paid in full. 

5. INTERNATIONAL SERVICE ASSESSMENT CURRENCY CONVERSION FEE (ISA FEE) 
Non-US dollar transactions made in foreign countries (a.k.a. multi-currency transactions) will be billed to 
you in US dollars. Conversion to US dollars is determined by 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 plus 1 percent currency conversion fee. The currency conversion fee will appear as a 
separate line on your statement for each transaction completed in a foreign country. 

US dollar transactions made in foreign countries (a.k.a. single currency transactions) will be billed to you 
in US dollars and will be collected from you for any transaction conducted in US dollars from a foreign 
country as a separate transaction titled ISA Fee.  

Transactions conducted in a US Territory, on a US military base, or within a US Embassy or Consulate 
will not incur either a currency conversion fee or an ISA fee. Credit Vouchers (also known as returns) and 
Cash Reversals are not subject to a currency conversion fee or ISA fee.  

6. COMPUTATION OF THE PRIME RATE INDEX (PRI). The Annual Percentage Rate (APR) for all 
variable rate consumer advances and share secured advances is tied to the “PRI”. The “PRI” is the 
highest prime rate published in the Wall Street Journal on the last business day of each month. If this 
index is no longer available, the credit union will choose a new index which is comparable to the index 
described herein. The APR will be the “PRI” plus the percentage shown below. The interest rates may 
change on the first of every month.  

7. BALANCE COMPUTATION METHOD. 

a. Visa Credit Balance Computation Method: Average Daily Balance including New 
Purchases. The balance subject to finance charge is identified on your monthly statement as 
“Cash Advance Average Daily Balance” and “Purchases Average Daily Balance.” To get the 
Cash Advance Average Daily Balance, we take the beginning balance each day, add new 
advances and other debits, and subtract payments and credits. This gives us the daily balance. 
Then we add up all the daily balances in the billing cycle and divide by the number of days in the 
billing cycle. To get the Purchases Average Daily Balance, we take the beginning balance each 
day, add new purchases and other debits, and subtract payments and credits and divide by the 
number of days in the billing cycle. 
b. Visa Debit Card/Swift Cash Balance Computation Method. The balance used to compute 
the finance charge is the unpaid balance each day after payments and credits to that balance 
have been subtracted and any new advances have been added. 

8. FINANCE CHARGES.   

If the entire current Visa balance as shown on your monthly statement is paid in full by the due date, you 
will not be charged a periodic finance charge on the purchases average daily balance for the billing cycle 
ending on the due date. Cash Advances are always subject to a finance charge from the date of posting.  

The total finance charge shown on your monthly statement consists of the periodic finance charge on 
purchases and cash advances from the day of posting. 

a.  Visa Platinum, credit tier 3 without rewards, Variable Interest Rate (25-day Grace Period). The 
monthly periodic rate on June 1, 2011, was .91583%. This is an APR of 10.99%. The annual 
percentage rate may vary. The flexible rate is based on the Mountain America Federal Credit Union 
PRI plus 7.74% with a maximum rate of 18.0% APR.  

b.  Visa Platinum, credit tier 3, with rewards, Variable Interest Rate (25-day Grace Period). The 
monthly periodic rate on June 1, 2011, was .99917%. This is an APR of 11.99%. The annual 
percentage rate may vary. The flexible rate is based on the Mountain America Federal Credit Union 
PRI plus 8.74% with a maximum rate of 18.0% APR. 

c.  Visa Platinum, credit tier 2, without rewards, Variable Interest Rate (25-day Grace Period). The 
monthly periodic rate on June 1, 2011, was .91583%. This is an APR of 10.99%. The annual 
percentage rate may vary. The flexible rate is based on the Mountain America Federal Credit Union 
PRI plus 6.74% with a maximum rate of 18.0% APR. 

d.  Visa Platinum, credit tier 2, with rewards, Variable Interest Rate (25-day Grace Period). The 
monthly periodic rate on June 1, 2011, was .99917%. This is an APR of 11.99%. The annual 

  
 
 
 
 
   
 
 
percentage rate may vary. The flexible rate is based on the Mountain America Federal Credit Union 
PRI plus 7.74% with a maximum rate of 18.0% APR. 

e.  Visa Platinum, credit tier 1, without rewards, Interest Rate (25-day Grace Period). The monthly 

periodic rate on June 1, 2011, was .74917%. This is an APR of 8.99%. The annual percentage rate 
may vary. The flexible rate is based on the Mountain America Federal Credit Union PRI plus 4.74% 
with a maximum rate of 18.0% APR. 

f.  Visa Platinum, credit tier 1, with rewards, Interest Rate (25-day Grace Period). The monthly 

periodic rate on June 1, 2011, was .83250%. This is an APR of 9.99%. The annual percentage rate 
may vary. The flexible rate is based on the Mountain America Federal Credit Union PRI plus 5.74% 
with a maximum rate of 18.0% APR.. 

g.  Cash Advance APR.  This rate applies to all credit cards. The monthly periodic rate on June 1, 

2011, was 1.49167%. This is an APR of 17.9%. There is no grace period on cash advance balances. 
h.  Visa Debit Card and/or Swift Cash (if applicable), Variable Interest Rate. The total finance charge 
shown on your monthly statement consists of the periodic finance charge on loan advances to cover 
purchases, checks and cash advances from the day of posting. The daily periodic rate on June 1, 
2011 was .032877%. That is an APR of 12.0%. The annual percentage rate may vary. The flexible 
rate is based on the Mountain America Federal Credit Union PRI plus 6.0%. The minimum periodic 
rate is 12.0% APR and the maximum is 18.0% APR. There is no time period in which loan advances 
may be repaid without incurring a periodic finance charge. There is no grace period. 

9. LIABILITY. If the card is issued to you and others on a joint application, each use of the card shall be 
an extension of credit to all and each of you shall be jointly and severally liable. If you allow anyone else 
to use your card, you will be liable for all credit extended to him/her. 

10. LOST/REPLACEMENT CARD You agree to promptly notify us orally or in writing if your card or card 
number is lost or stolen. You may notify us of the loss by sending a written notice or calling us at the 
address or telephone number listed on each billing statement. A $10 fee may be  assessed for each 
replacement card. 

11. LATE FEE. We may assess a late fee if your “Minimum Payment Due” is not made by the 10th day 
following your payment due date. This fee will be $15.00 on balances up to $1000.00, $20.00 on 
balances up to $2000.00, and $25.00 on balances over $2000.00. 

12. AUTOMATED TELLER MACHINE (ATM) FEE. A transaction fee may be assessed on your account 
when you use your card to access information or make any transaction on your Credit Union account(s). 
An empty envelope fee up to $30.00 may be assessed to your account for any deposit made through the 
ATM that does not contain a legitimate deposit. This fee is in addition to any other surcharge or 
transaction fees initiated by the proprietary ATM owner. 

13. ANNUAL CARD FEE. No annual consumer card fee. 

14. OVER LIMIT CHARGE. No over limit charge. 

15.  CASH ADVANCE FEE.  No cash advance fee. 

16. BALANCE DUE. If you miss a payment or if you break any other promise you have made under this 
Agreement, we may declare your entire balance due and payable at once without notice or demand. We 
may also do this if you have made any misrepresentation in applying for credit or if anything happens that 
indicates to us that you may be unable or unwilling to repay your loan. 

17. COLLECTION COSTS. If we are forced to take collection action you agree to pay all court costs and 
collection fees, including our reasonable attorney’s fees and costs on appeal. If this account is assigned 
to an outside agency for collections, I/we agree to pay all attorneys’ fees, court cost, and a collection 
charge of 30%, which will be added to the outstanding balance of my account. 

 
 
 
 
 
 
 
 
 
 
18. YOUR BILLING RIGHTS. The following is important about your rights and responsibilities under the 
Fair Credit Billing Act. 

In Case Of Errors Or Questions About Your Transactions. (Applies to all covered transactions) The 
Federal Truth in Lending Act requires prompt correction of billing mistakes. If you believe that your card or 
your PIN has been lost or stolen or that a transaction involving your account has been made without your 
permission or if for any reason you wish to contact us about your account, call or write us as follows: 

Mountain America Credit Union 
P.O. Box 9001 
West Jordan, Utah 84084-9001 
Telephone: (801) 325-6228 

a.  Do not write on the statement. Call or write us at the address or number given above as soon as 
you can if you think your statement or receipt is wrong or if you need more information about a 
transaction listed on your statement of receipt. We must hear from you no later then 60 days after 
the statement on which the problem or error first appeared was sent to you. On a separate sheet 
of paper write the following (you may telephone your inquiry but doing so will not preserve your 
rights under this law): 

 Tour name and account number; 

1. 
2.  A description of the error and an explanation (to the extent you can explain) why you 

believe it is an error. If you need only more information, explain the item you are not sure 
about, and if you wish, ask for evidence of the charge such as a copy of the charge slip. 
Do not send your copy of a sales charge or other document unless you have a duplicate 
copy for your records;  

3.  To the extent possible, tell us the type, date and the amount of the suspected error; 
4.  Any other information (such as your address) which you think will help the Credit Union 

identify you or the reason for your complaint or inquiry. 

b.   We will tell you the result of our investigation within 10 Business Days after we hear from you and 
we will correct any error promptly. If we need more time, however, we may take up to 45 calendar 
days to investigate your complaint or question. If we decide to do this, we will re-credit your 
account within the 10 Business Days for the amount you think is in error, so that you will have the 
use of the money during the time it takes us to complete our investigation. 

c.   If we determine that there was no error, we will send you a written explanation within 3 Business 

Days after we have finished our investigation. You may ask for copies of the documents that were 
used in our investigation. If we have re-credited your account during the investigation and 
determine that there was no error we will notify you of the date on which we will re-debit your 
account and amount debited. You should make certain your account contains sufficient funds to 
cover this debit but we will honor third party payable items or pre-authorize debits using the 
provisionally re-credited funds for five days time after we notify you. 

Your Rights And Our Responsibilities After We Received Your Written Notice. The Credit Union 
must acknowledge all letters pointing out possible errors within 30 days of receipt, unless we have 
corrected the error by then. Within 90 days after receiving your letter, the Credit Union must either correct 
the error or explain why the Credit Union believes the statement was correct. Once the Credit Union has 
explained the statement, the Credit Union has no further obligation to you even though you believe that 
there is an error, except as provided in paragraph below. 

After the Credit Union has been notified, neither the Credit Union nor any attorney nor a collection agency 
may send you collection letters or take other collection action with respect to the amount in dispute; but 
periodic statements may be sent to you and the disputed amount can be applied against your credit limit. 
You cannot be threatened with damage to your credit rating or sued for the amount in question, nor can 
the disputed amount be reported to a credit bureau or to other creditors as delinquent until the Credit 

 
 
 
 
 
 
 
 
Union has answered your inquiry. However, you remain obligated to pay the parts of your statement not 
in dispute. 

If it is determined that the Credit Union has made a mistake on your statement, you will not have to pay 
any finance charges on any disputed amount. If it turns out that the Credit Union has not made an error, 
you may have to pay finance charges on the amount in dispute, and you will have to make up any 
missed minimum or required payments on the disputed amount. Unless you have agreed that your 
statement was correct, the Credit Union must send you a written notification of what you owe; and if it is 
determined that the Credit Union did make a mistake in billing the disputed amount you must be given the 
time to pay which you normally are given to pay undisputed amounts before any more finance charges 
or late payment charges on the disputed amount can be charged to you.  

If the Credit Union’s explanation does not satisfy you and you notify the Credit Union in writing within 10 
days after you receive the explanation that you still refuse to pay the disputed amount, the Credit Union 
may report you to credit bureaus and other creditors and may pursue regular collection procedures. But 
the Credit Union must also report that you think you do not owe the money, and the Credit Union must let 
you know to whom such reports were made. Once the matter has been settled between you and the 
Credit Union, the Credit Union must notify those to whom the Credit Union reported you as delinquent of 
the subsequent resolution. 

19. CHANGES IN THE AGREEMENT. (Applies to all covered transactions) By your signature on your 
card or the signature of any authorized user, you agree that we may change, according to law, the terms 
of this Agreement. These changes will apply to your new purchases and advances and to your 
outstanding balance. These changes may include, but are not limited to, any change in finance charge. 
We will mail notice of such change to you at your address shown on our records. 

We may make changes in this Agreement, but we will notify you of such changes. Unless you terminate 
your right to participate in any covered Program within 45 days after the date of our notice by writing us at 
the address given in this disclosure, you agree to abide by this Agreement as changed. 

20. ELECTRONIC FUND TRANSFER DISCLOSURE 

1. PURPOSE AND SCOPE. The basic rights, liabilities and responsibilities of the member and the Credit 
Union concerning any covered program are explained below. Covered programs and/or transaction 
include: 

a. Transactions through an AUTOMATED TELLER MACHINE (hereinafter referred to as ATM) 

b. Pre-authorized debit and/or credit transactions through and AUTOMATIC CLEARING HOUSE 
ASSOCIATION (hereinafter referred to as ACH) 

c. Transactions involving the TRANSFER OF FUNDS from one account to another account which are 
(1) initiated by a TELEPHONE REQUEST from a member to the Credit Union, and (2) in which at least 
one of the accounts involved is NOT OWNED (either individually or jointly) by the member requesting the 
transfer.  

These disclosures are made in accordance with Electronic Fund Transfer Act of 1978 (“EFT ACT”) and 
other applicable laws and regulations.  

2. AVAILABILITY AND LIMITS ON USE. 
a. ATM Program: In connection with your participation in the ATM Program, we have issued to you your 
own Personal Identification Number (“PIN”). Each time you wish to obtain funds from an automated teller 
machine (“TERMINAL”) under the Program, you must communicate your PIN to the TERMINAL after 
inserting your CARD. To ensure that no unauthorized charges are made to your Account(s) under the 
Program you should take all reasonable precautions to prevent any other person from learning your PIN 

 
 
 
 
 
 
 
 
 
 
 
 
or using your CARD. NEVER KEEP ANY MATERIAL CONTAINING YOUR PIN ATTACHED TO OR 
NEAR YOUR CARD. 

You may use your Card and PIN to (1) Withdraw cash from your savings and checking account(s), (2) 
transfer funds between your savings and checking account(s), (3) receive a loan advance from an 
approved account and (4) make deposits and/or loan payments to approved account(s) and all other 
transactions as applicable. 

For security reasons, there are limits on the number and dollar amounts of deposits and withdrawals per 
business day which can be made under the ATM Program. 

b. ACH Program and Telephone Transfer (upon your request): We may authorize debits (withdrawals) 
from or credits (deposits) to any of your Credit Union accounts or initiate a transfer of funds from your 
accounts. A maximum of six such transfers may be made from each savings or money market account 
each calendar month. The dollar amounts of debits from accounts are limited only by your available 
balances and available credit limits where applicable. A fee of up to $25.00 will be assessed for each 
individual Debit item presented that takes the account into a negative balance. 

3. DOCUMENTATION OF TRANSFERS. 
a. ATM Program: For each ATM transaction, you may receive a descriptive receipt at the time of 
transaction. In addition, we will send you a monthly statement showing the status of your account, the 
covered EFT transactions made at Terminals, and any charges we have imposed. If there are no covered 
transactions in a particular month, we will send you a statement at least quarterly. 
In addition, if your account is scheduled to be credited by a pre-authorized electronic fund transfer from 
the same payor at least once every 60 days and if the payor doesn’t provide notice to you that the 
transfer has been initiated you may call us at (801) 325-6228 to ascertain whether or not the transfer was 
received. 

4. YOUR LIABILITY FOR UNAUTHORIZED TRANSACTIONS. 
a. ATM Program: TELL US AT ONCE if you believe your card or your PIN has been lost or stolen or if 
your statement shows transactions you did not make. Telephoning is the best way of keeping your 
possible losses down. You could lose all the money in your account(s) plus your maximum line(s) of 
credit. 

b. Debit Card Program (effective September 1, 2000): Additional Limits on Liability for debit card, when 
used for point-of-sale transactions. Unless you have been grossly negligent or have engaged in fraud or 
illegal transactions, you will not be liable for any unauthorized transactions using your lost or stolen card, 
when used for point-of-sale transactions. Also, if your statement shows transfers that you did not make, 
tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may be 
liable for $50.00 plus any money you lost after the 60 days, if we can prove that we could have stopped 
someone from taking the money if you had told us in time. 

If a good reason (such a long trip or a hospital stay) kept you from telling us, we will extend the time 
periods. 

c. ACH Program: If your statement shows transactions that you did not make, tell us at once. If you tell 
us within 60 days after the statement was mailed to you, your maximum liability will be the actual amount 
of the transaction or $50.00 whichever is less. If you do not tell us within 60 days after the statement was 
mailed to you, you may additionally be liable for any future unauthorized transactions that occur until such 
time as you notify us. 

If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time 
periods. 

5. OUR LIABILITY FOR IMPROPER TRANSACTIONS OR PAYMENTS (applies to aLL covered 
transactions). If a covered transaction is not completed as you have directed or we do not properly 

 
 
 
 
 
 
 
 
 
 
complete a transfer to/from your Account(s) according to our agreement with you, we will be liable for 
your losses or damages. We will not be liable to you in the following instances: 

• If, through no fault of ours, you account does not contain enough money to complete the 
transaction; or 
• If the transaction would exceed the credit limit on your overdraft lien; or 
• If the Terminal where you are making the transaction does not have enough money; or 
• If a Terminal is not working properly and you know this at the time you started the transaction; 
or 
• If, due to circumstances beyond our control (such as fire or flood), the transaction was not 
completed despite reasonable precautions we may have taken. 

6. STOP PAYMENTS. Stop Payments apply only to pre-authorized debit/credits through the ACH 
Program. You may initiate a stop payment of a pre-authorized electronic transfer from your account by 
notifying us in writing at any time, up to 3 business days before the scheduled business day of the 
transfer. A fee of $18.00 per item will be assessed for each post dated written stop notice.  

To be valid, a stop payment order must be accurately submitted for the exact amount of the ACH request. 

7. NOTICE OF TRANSFER VARYING IN AMOUNTS. If pre-authorized transfers from your account vary 
in amount, the person you are going to pay will tell you, 10 days before each payment, when it will be 
made and how much it will be. (You may choose instead to get this notice only when the payment would 
differ by more than a certain amount from the previous payment, or when the amount would fall outside 
certain limits that you set.) 

8. BUSINESS DAY (applies to all covered transactions). For the purpose of this Agreement, our Business 
Days are Monday through Friday. Holidays are not included. 

9. DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES. (Applies to all covered 
transactions) We will not disclose information about your Account, or the transactions you make, except 
as follows: 

a. As necessary to complete transactions. 
b. To comply with government agencies or court orders. 
c. If you give us your written permission. 

10. TERMINATION. (Applies to all covered transactions) We may add, remove, extend or limit the 
covered services provided without notifying you beforehand. In addition, we may discontinue any covered 
Program or your right to participate in any covered Program, at any time, but if we do so, we will give you 
written notice of such revocation within 30 days after it occurs. You may terminate your participation in 
any covered Program but you must do so by writing to us at the address we have given you in this 
disclosure. 

Your participation in any covered transaction shall be terminated not later than one Business Day after we 
receive your written notification. Your right to participate in the ATM Program may also be canceled if your 
Card account is terminated for any reason. Your right to participate in the ACH Program will immediately 
be canceled if you cancel the authorization you have given to M.A.C.U. to directly debit or credit your 
account or if the account you authorize us to debit or credit is closed. 

MACUCCD FS811 REV 06/2011