Visa Credit Card Account 
Agreement and Disclosures 

440 E. 36th Avenue 
Anchorage,  AK 99503  
PH: 907-257-7200, option 3 
TF: 800-764-1123, option 3 
www.denalifcu.org 

This  Visa  Credit  Card  Account  Agreement  (“Agreement”)  and  the  Account  Disclo-
sures (“Account Disclosure”) given to you when you opened your Card account (“Ac-
count”)  will  govern  your  Visa  Platinum,  Gold,  Classic,  or  Secured  Credit  Card  and 
Account issued by Denali  Federal Credit Union  (“Credit Union”).  In this Agreement, 
the  words "you," "your," "yours," "applicant," and "Borrower" 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 
"Credit Union" mean Denali Federal Credit Union. The  word "Card" means any one 
or  more  credit  cards  issued  under  this  Account.  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. 

1.  You Promise to Pay  
You promise to pay us all amounts, plus any Interest Charges, which arise from use 
of the  Card  or Account by  you  or  any  other  person,  and to  be jointly and severally 
liable with such a person, unless such other person does not have actual, implied, or 
apparent  authority  for  such  use,  and  you  received  no  benefit  from  the  use.  You 
promise to pay us either by direct payment or by automatic transfers from shares or 
by payroll deduction. 

2.  Account Access  
You must sign the Card to use it. Once you have signed the Card, you can use it to 
buy or lease goods, services, or insurance wherever the Card is honored, up to the 
full  amount  of  your  Credit  Line.  You  may  use  your  Account  to  get  cash  advances 
from us. You may also use your Card to get a cash advance from participating finan-
cial  institutions  and  to  access  your  line  of  credit  at  automatic  teller  machines 
(“ATMs”) within the VISA network or any other ATMs.  

3.  Credit Line  
If we approve your  application, this Agreement will constitute a revolving line of credit 
for an amount which will be the Credit Line under your Account. We will advise you of 
the  amount  of  your  Credit  Line.  That  amount  will  be  the  maximum  amount  you  may 
have outstanding at any one time. You agree not to attempt to obtain more credit than 
the  amount  of  your  Credit Line.  However, if  you  temporarily  exceed  your  Credit Line, 
you agree to repay the excess immediately, even if we have not yet billed you. Obtain-
ing such  credit  does  not increase  your  Credit  Line. We retain  the  right  to  increase  or 
decrease your Credit Line at any time. Any increase or reduction in the amount of your 
Credit Line will be shown on your monthly statement or by separate notice together with 
any  changes  in  the  applicable  Minimum  Monthly  Payments.  Your  eligibility  for  this 
Credit Line is determined by our loan policy and may be terminated at our sole discre-
tion, without demand or notice. You may close your Credit Line at any time by notifying 
us in writing and returning all Cards cut in half. If you terminate this Agreement or if we 
terminate or suspend your credit privileges, the provisions of this Agreement and your 
liability hereunder shall otherwise remain in full force and effect until you have paid us 
all sums due us under this Agreement and returned all Cards. 

4.  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  closing  date.  The  minimum  monthly  payment  will  be  3.0%  of  your  outstanding 
balance  shown  on  your  statement  (“New  Balance”),  or  $20,  whichever  is  greater.  If 
your  outstanding  balance  is  less  than  $20,  you  agree  to  pay  the  balance  in  full.  In 
addition to the minimum monthly payment, you agree to pay any “Overlimit Amount” 
and  any  amount  past  due  shown  on  your  statement  each  month  by  the  due  date 
shown  on  your  Statement.  You  may  pay  in  full  for  all  your  purchases  and  cash  ad-
vances  each  month,  or  you  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 does not constitute a 
minimum payment. Payments will be applied first to interest, then to purchase balanc-
es, then to cash advance and balance transfer balances, and finally to any other fees, 
charges, or  amounts owed. 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 ex-
cess of the minimum monthly payment will be allocated first to higher rate balances, 
as applicable. Payments received at: Denali Federal Credit Union, 440 E. 36TH Ave., 
Anchorage, Alaska 99503, at one of our branches or via Online Banking at or before 
7:00 PM Alaska Time on any business day will be credited to your Account as of that 
date; payments received by mail at the address above after 7:00 PM Alaska Time or 
on a weekend will be posted to your Account as of the next business day.  

5.  Security Interest  
By signing your application, to secure your Account, you granted us a purchase money 
security  interest  under  the  Alaska  Uniform  Commercial  Code  in  any  goods  you  pur-
chase  through  your  Account.  If  you  default,  we  will  have  the  right  to  recover  any  of 
these  goods  that  have  not  been  paid  for  through  application  of  your  payments  in  the 
manner described in Section 4. In addition, you granted us a security interest in all your 
shares and deposits, present and future, and all accounts (except Individual Retirement 
Accounts  and  Keogh  Accounts)  with  the  Credit  Union  to  secure  your  Account  and 
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. You further agree that collat-
eral securing other loans with the Credit Union (except loans secured by real property) 

also secures this Account. If you have signed a separate security agreement, the Credit 
Union will have a security interest on all funds in any Credit Union account in which you 
have an ownership interest, regardless of the source of funds.  

6.  Periodic Statements  
Each month, if your outstanding balance exceeds $1, we will send you a statement 
showing  new  purchases,  cash  advances,  payments,  and  credits  made  to  your  Ac-
count  during  the  billing  period,  your  Previous  Balance,  your  "Total  New  Balance," 
any  Interest  Charge,  and  any  other  charges.  Your  statement  also  will  identify  the 
remaining Credit Line available and the Minimum Monthly Payment you must make 
for that billing period and the date it is due. For statement verification purposes, you 
agree  to  retain  copies  of  transaction  slips  resulting  from  each  purchase,  each  ad-
vance, and other transaction on your Account. Unless you notify us of a billing error 
as described below, you accept your monthly statement as an accurate statement of 
your Account with us. 

7.  Circumstances Under Which a Service Charge Will Be Imposed  
The total outstanding balance of purchases,  balance transfers, and cash  advances 
in the Account on the closing date of a billing period, including any Interest Charge, 
will be shown on the Periodic Statement for that billing period as the "New Balance." 

a.  Cash  Advances  and  Balance  Transfers.  We  begin  charging  interest  on  cash 
advances  and  balance  transfers  from  the  date  of  each  transaction.  There  is  no 
time  period  within  which  to  pay  to  avoid  paying  interest  on  cash  advances  or 
balance transfers. 

b.  Purchases. Your due date is at least 25 days after the close of each billing period. 
An Interest Charge will be imposed on the portion of purchases included in the New 
Balance  that  is  not  paid  by  the  due  date.  This  “grace  period”  allows  you  to  avoid 
paying interest on purchases for a billing period. If you do not pay the New Balance 
for purchases within the grace period, interest will accrue on any unpaid purchase 
transactions from the first day of the billing period in which the payment is due, and 
on new purchase transactions from the date of the transaction. 

8.  Method Used to Determine the Balance on Which the Interest 
Charge May Be Computed and Amount of Interest Charged 
The Credit Union figures the Interest Charge on your Account by multiplying the "Av-
erage Daily Balance" of purchases, balance transfers,  and cash advances  for  your 
Account  (including  current  transactions)  by  the  Monthly  Periodic  Rate.  To  get  the 
"Average Daily Balance"  we take the  beginning balance  of  your Account each day, 
add  any  new  purchases  or  cash  advances,  and  subtract  any  payments  or  credits, 
unpaid  Interest  Charge  and  unpaid  late  charges.  This  gives  us  the  daily  balance. 
Then,  we add up all the  daily balances for the billing  period and divide the total  by 
the number of days in the billing period. This gives us the "Average Daily Balance."  
To get the “Monthly Periodic Rate,” we divide the Annual Percentage Rate in effect 
for the billing period by 12. 

9.  Periodic Rate and Corresponding Annual Percentage Rate. 
a.  Standard Rates.  The periodic rate  and corresponding Annual  Percentage Rate 
for  your  Account  will  vary  based  on  an  index,  which  is  the  highest  Prime  Rate 
published in The Wall Street Journal (Western Edition). We add a margin to the 
index. The total of the index plus the margin is the Annual Percentage Rate. The 
amount of the margin may be based  on  your credit  profile. The margin for  your 
Account,  and  the  current  periodic  rate  and  corresponding  Annual  Percentage 
Rate(s) used to compute the Interest Charge are disclosed to you in the Account 
Disclosure  provided  with  this  Agreement  when  you  open  your  Account.  The 
periodic rate  and Annual  Percentage  Rate may change  on the first  day  of each 
billing  cycle  based  on  the  index  rate  published  on  the  last  business  day  of  the 
prior billing cycle. The Annual Percentage Rate will not exceed 18.00%. 

b.  Introductory  Rates.  At  our  discretion,  we  may  offer  you  an  introductory  or 
promotional  Annual  Percentage  Rate  for  your  Account.  Any  introductory  or 
promotional Annual Percentage Rate will be subject to the terms of the offer and 
this  Agreement. We  will  provide  you  with  information  on  the  offer,  including  the 
time period the introductory or promotional Annual Percentage Rate is in effect in 
the Account Disclosure or in other materials that we send to you about the offer 
after you receive your Credit Card. 

10. Conditions Under Which Other Charges May Be Imposed 
You agree to pay the following fees and charges on your Account: 

a.  Annual Fee. For share secured accounts, there is a $15 annual fee. There is no 

annual fee for other accounts.  

b.  Late Fee.  If we do not receive  your full minimum payment on or before the due 

date, you agree to pay a late fee of up to $15. 

c.  Returned  Item  Fee.  If  any  check  or  draft  we  receive  from  you  as  payment  for 
any amount you owe to us is returned to us unpaid, you agree to pay a returned 
item fee of up to $20.00. 

d.  Card  Replacement  Fee.  You  agree  to  pay  $5  for  each  replacement  Card  you 
request.  If  you  request  overnight  delivery  of  a  replacement  card,  you  will  pay  a 
rush fee of $30 - $50 (depending on timing and your location).  

e.  Photocopy Fee. You will pay $3 for each copy of a statement or sales draft you 

request unless the request relates to a billing error that we made. 

f.  Research/Chargeback Fee. You will pay $15.00 for each request to research a 
charge or chargeback or other issue on your account, unless the request relates 
to a billing error that we made.  

© 2016 Farleigh Wada Witt. All rights reserved. 

Credit Card Agreement #M-117483 ▪ February 2016 ▪ 1 

 
 
 
 
 
Denali Federal Credit Union  Visa Card Account Agreement and Disclosures 

g.  PIN Change Fee. You will pay $5 each time you request a change to your PIN. 
h.  Attorney's  Fees  and  Costs.  If  you  fail  to  make  any  payment  when  due  or  are 
otherwise  in  default  under  any  part  of  this  Agreement,  you  agree  to  pay  us  all 
costs to collect your Account, including court costs and reasonable attorney fees 
whether or not there is a lawsuit, and fees on any appeal and fees for bankruptcy 
proceedings,  appeals,  and  any  post-judgment  collection  services,  if  applicable. 
These  fees  and  costs  may  be  added  to  your  Account  balance  and  will  bear 
interest at the Annual Percentage Rate in effect at that time. 

11. Conditions of Card Use  
The use of your Card and Account are subject to the following conditions: 

a.  Use.  Your  Card  and  Account  may  be  used  only  for  valid  and  lawful 
purposes.  You  may  not  use  your  Card  (i)  to  make  Purchases  or  obtain  Cash 
Advances  for  any  illegal  transaction,  or  (ii)  for  any  internet  or  online  gambling 
transactions.  If  you  use  your  Card  for  any  illegal  or  prohibited  transaction,  this 
Agreement  also  applies  to  such  transaction  and  you  agree  to  pay  any  and  all 
amounts related to such transaction pursuant to the terms of this Agreement. We 
may, at our sole  discretion and  without  warning,  restrict the  use of  or terminate 
your Card if we notice excessive use of your Card or other suspicious activities or 
if we reasonably believe the Card is or has been used for one or more illegal or 
prohibited transactions. 

b.  Ownership  of  Cards.  Any  Card  or  other  credit  instrument  or  device  which  we 
supply to you is our property and must be returned to us, or to any person whom 
we authorize to act as our agent, or to any person who is authorized to honor the 
Card,  immediately  according  to  instructions.  The  Card  may  be  repossessed  at 
any  time  in  our  sole  discretion  without  demand  or  notice.  You  cannot  transfer 
your Card or Account to another person. 

c.  Honoring  the  Card.  We  may  decline  to  honor  any  transaction  for  any  reason. 
Neither  we  nor  merchants  authorized  to  honor  the  Card  will  be  responsible  for 
the failure  or refusal  to honor  the Card or  any other  credit instrument  or  device 
we supply to  you. If a merchant agrees to  give you a refund or adjustment, you 
agree to accept a credit to your Account in lieu of a cash refund. 

d.  Currency  Conversion/International  Transaction  Fee.  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 
rate  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 an International Transaction Fee of up to 2% of the transaction amount 
for any card transaction made in a foreign country. 

e.  Notices  and  Payments.  All  notices  will  be  sent  to  your  address  as  shown  in  the 
application. You agree to advise us promptly if you change your mailing address. All 
payments should be mailed to us at the remittance address shown on your monthly 
statements. Payments received at that address will be credited to your Account as 
of  the  date  received.  Written  notices  and  inquiries  to  us  must  be  sent  to:  Card 
Services, Denali Federal Credit Union, 440 E. 36TH Ave., Anchorage, Alaska 99503. 
f.  Personal  Identification  Number.  If  we  issue  you  a  Personal  Identification 
Number ("PIN") for use with  your Card in accessing your line  of credit at ATMs, 
these numbers are issued to you for your security purposes. These numbers are 
confidential and should not be disclosed to third parties. You are responsible for 
safekeeping  your  PIN.  You  agree  not  to  disclose  or  otherwise  make  available 
your  PIN  to  anyone  not  authorized  to  sign  on  your  Account.  To  keep  your 
Account secure, please do not write your PIN on your Card or keep it in the same 
place as your Card. 
12. Loan Protection 
Loan  Protection  coverage  is  not  required  for  any  extension  of  credit  under  this 
Agreement.  

13. Default  
You will be in default under this Agreement if any of the following occur: (a) Any Min-
imum Monthly Payment is not made when due; (b) You become insolvent, bankrupt, 
or you die; (c)  You violate any part of this Agreement, or any other agreement with 
us;  or  (d)  If  we  reasonably  deem  ourselves  insecure  with  respect  to  your  Account. 
Upon default, we may declare the entire unpaid balance immediately due and paya-
ble, and you agree to pay that amount plus any attorney's fees and costs we incur, 
including fees and costs in any appeal or bankruptcy proceeding. We can delay en-
forcing any right under this Agreement without losing that right or any other right. We 
will notify you in writing of any such action as soon as practical if it occurs. 

14. Governing Law  
This  Agreement  will  not take effect  until it  is  approved  by  us.  This  Agreement shall 
be governed by the laws of the State of Alaska. 

15. Severability 
 If any provision  of this Agreement is  held invalid, the remaining provisions that are 
severable shall remain in effect. 

16. Loss or Theft of Card  
You agree to notify us immediately of the loss, or the theft, or the use without your 
permission,  of  any  Card  or  other  credit  instrument  or  device  which  we  supply  to 
you. You may be liable for the unauthorized use of your card. You will not be lia-
ble for unauthorized use which occurs after you notify us in writing at Denali Fed-
eral  Credit  Union,  440  E.  36th  Ave.,  Anchorage,  Alaska  99503;  or  by  phone  at 
(907) 257-7200 of loss, theft, or possible unauthorized use. In any case, your lia-
bility shall not exceed $50. 

17. Credit Information/Financial Statements  
You  authorize  us  to  release  information  to  others  (e.g.,  credit  bureaus,  merchants, 
and other financial institutions) regarding the status and history of your Credit Line. 
You  agree  to  provide  us,  at  any  time  we  deem  necessary,  with  a  current  financial 
statement and/or updated credit information upon request. We may investigate your 
credit directly or through a credit reporting agency. 

18. Amendments  
We  reserve  the  right  to  change  any  terms  or  conditions  of  this  Agreement  at  any 
time, to the extent permitted by applicable law. We will notify you of the changes to 
this Agreement as required by law. 

19. Billing Errors Notice, Your Credit Card Billing Rights  
Keep  this  document  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:  Denali  Federal Credit Union,  440 E. 36TH 
Ave., Anchorage, Alaska 99503. In your letter, give us the following information: 

•  Account information: Your name and account number. 
•  Dollar amount: The dollar amount of the suspected error. 
Description of problem: If you think there is an error on your bill, describe what you 
believe is wrong and why you believe it is a mistake. 

You must contact us: 

•  Within 60 days after the error appeared on your statement. 
•  At least 3 business days before an automated payment is scheduled, if you want 

to stop payment on the amount you think is wrong. 

You must notify us of any potential errors in writing. You may call us, but if you do, 
we are not required to investigate any potential errors and you may have to pay the 
amount in question. 

What Will Happen After We Receive Your Letter. When we receive your letter, we 
must do two things: 

1.  Within  30  days  of  receiving  your  letter,  we  must  tell  you  that  we  received  your 

letter. We will also tell you if we have already corrected the error. 

2.  Within 90 days of receiving your letter, we must either correct the error or explain 

to you why we believe the bill is correct. 

While we investigate whether or not there has been an error: 

•  We  cannot  try  to  collect  the  amount  in  question  or  report  you  as  delinquent  on 

that amount. 

•  The charge in question may remain on your statement, and we may continue to 

charge you interest on that amount. 

•  While you do not have to pay the amount in question, you are responsible for the 

remainder of your balance. 

•  We can apply any unpaid amount against your credit limit. 
After we finish our investigation, one of two things will happen: 

• 

• 

If  we  made  a  mistake:  You  will  not  have  to  pay  the  amount  in  question  or  any 
interest or other fees related to that amount. 
If  we  do  not  believe  there  was  a  mistake:  You  will  have  to  pay  the  amount  in 
question, along with applicable interest and fees. We will send you a statement of 
the amount you owe and the date payment is due. We may then report you as de-
linquent 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.  To  use  this 
right, all of the following must be true: 

1.  The purchase must  have  been made in  your home state or  within 100 miles of 
your current mailing address, and the purchase price must have been more than 
$50.  (Note:  Neither  of  these  are  necessary  if  your  purchase  was  based  on  an 
advertisement  we  mailed  to  you,  or  if  we  own  the  company  that  sold  you  the 
goods or services.) 

2.  You  must  have  used  your  credit  card  for  the  purchase.  Purchases  made  with 
cash advances from an ATM or with a check that accesses your credit card ac-
count 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 at the above address. While we investigate, the same rules ap-
ply to the disputed amount as discussed above. 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. 

20. Acknowledgment   
You  understand  and  agree  to  the  terms  and  conditions  in  this  Agreement  and  the 
Fair  Credit  Billing  Notice.  You  acknowledge  that  you  have  received  a  copy  of  this 
Agreement,  the  Account  Disclosure,  and  the  Fair  Credit  Billing  Notice.  This  Agree-
ment is a final expression of the agreement between you and the Credit Union. 

© 2016 Farleigh Wada Witt. All rights reserved. 

Credit Card Agreement #M-117483 ▪ February 2016 ▪ 2