while you owe money on your account

• A judgment or tax lien is filed against you or any Guarantor or 
any attachment or garnishment is issued against any of your 
or  any  Guarantor's  property  or  accounts,  including  anyone 
starting an action or proposing to seize any of you or your 
Guarantor's funds on deposit with us

• We  in  good  faith  determine  that  your  or  any  Guarantor's 
creditworthiness  (which  includes  your  or  any  Guarantor's 
ability to repay us) has become unsatisfactory due to change 
in employment, increase in other obligations, or because of 
any other reason, time being of the very essence

• Any Guarantor dies

• Your organization ceases to exist

• Your organization changes its corporate structure

• Government action precludes us from imposing the annual 
percentage  rate  (APR)  or  a  government  authority  has 
notified us that continued advances constitute an unsafe and 
unsound practice

If  immediate  payment  is  demanded,  you  agree  to  continue 
paying  INTEREST  CHARGE,  at  the  interest  rate  then  in  effect, 
until what you owe has been paid.

19.  CHANGING  OR  TERMINATING  YOUR  ACCOUNT  –  MSUFCU 
may  change  the  terms  of  this  Agreement  and  any  attached 
Addendum  from  time  to  time.  Notice  of  any  change  will  be 
given in accordance with applicable law. If permitted by law, the 
change  will  apply  to  your  existing  account  balance  and  future 
transactions.

Either you or MSUFCU may terminate this Agreement at any time, 
but termination by you or MSUFCU will not affect your obligation 
to  pay  the  account  balance  plus  any  interest  charge  and  other 
charges you owe under this Agreement. You are also responsible 
for  all  transactions  made  to  your  account  after  termination, 
unless the transactions were unauthorized.

The Card(s) you receive remains the property of MSUFCU and you 
must recover and surrender to MSUFCU all Cards upon request 
or  upon  termination  of  this  Agreement,  whether  by  you  or  by 
MSUFCU. MSUFCU has the right to require you to pay your full 
account  balance  at  any  time  after  your  account  is  terminated, 
whether it is terminated by you or MSUFCU.

20.  CHANGING  OR  TERMINATING  AUTHORIZED  USERS  –  Upon 
your  request,  we  may  issue  additional  cards  for  authorized 
users  that  you  designate.  You  must  notify  us  in  writing  of 
any  termination  of  an  authorized  user's  right  to  access  your 
account.  Your  letter  must  include  the  name  of  the  user,  your 
account number and/or any sub-account number issued to the 
authorized user, the authorized user's Card, and any convenience 
or  other  access  checks  issued  to  the  authorized  user.  If  you 
cannot return the authorized user's Card or access checks and if 
you request your account to be closed, we will close your account 
and you may apply for a new account. You will be responsible for 
any transactions that are authorized but have not been posted to 
the account.

21.  LIABILITY  FOR  UNAUTHORIZED  USE-LOST/STOLEN  CARD 
NOTIFICATION  –  You  may  be  liable  for  the  unauthorized  use 
of  your  Card  or  account.  Notify  us  immediately  in  writing 

at:  MSU  Federal  Credit  Union,  Attention:  Visa  Department, 
3777  West  Road,  East  Lansing,  MI  48823  or  by  phone  at 
800-678-4968  or  517-333-2424  during  business  hours  or  
888-393-1172  after  hours  if  your  Card  is  lost,  stolen,  or  you 
suspect  there  has  been  an  unauthorized  use  of  your  Card  or 
Account. After we receive your notification, you will not be liable 
for any further unauthorized use of your Card or account.

If  you  are  an  organization  with  10  or  more  employees  and  we 
have  issued  10  or  more  Cards  on  your  account  for  use  by  your 
employees,  you  will  be  liable  for  all  unauthorized  use  of  your 
Cards  or  account  before  notification  to  us  unless  your  liability 
is  limited  by  Visa  liability  limitation  rules  as  set  forth  below. 
Otherwise, you will be liable for up to $50 for the unauthorized 
use  of  your  Card  or  Account  before  notifying  us  unless  your 
liability  is  further  limited  by Visa  liability  limitation  rules  as  set 
forth below. Unauthorized use does not include use of a Card by 
an authorized user in an unauthorized manner.

Because  your  Card  is  a  Visa,  you  will  not  be  liable  for  any 
unauthorized  purchase  transactions  if  you  exercise  reasonable 
care in safeguarding your card from risk of loss or theft, have not 
reported two or more incidents of unauthorized use in the last 12 
months, and if your Account is in good standing.

22.  CREDIT  REVIEW  AND  RELEASE  OF  INFORMATION  – You  and 
all  Guarantors  authorize  MSUFCU  to  investigate  you  or  your 
Guarantors'  credit  standing,  when  opening  or  reviewing  your 
Account. You  and  all  Guarantors  authorize  MSUFCU  to  disclose 
information  regarding  your  Account  and  your  Guarantors' 
obligations  to  credit  bureaus  and  creditors  who  inquire  about 
your  or  your  Guarantors'  credit  standings.  All  Guarantors  are 
hereby  notified  that  negative  information  will  be  provided 
to  appropriate  consumer  reporting  agencies  if  you  fail  to 
meet your obligation under this Agreement. If your Account is 
eligible for emergency cash and/or emergency Card replacement 
services  and  you  request  such  services,  you  agree  that  we 
may  provide  information  about  you  and  your  Account  that  is 
necessary to provide you with the requested service(s).

23.  RETURNS AND ADJUSTMENTS; MERCHANT TRANSACTIONS – 
Merchants and others who honor your Card may give credit for 
returns or adjustments, and they will do so by sending MSUFCU 
a credit that will be posted to your Account. If your credits and 
payments  exceed  what  you  owe  MSUFCU,  the  amount  will  be 
applied against future purchases and cash advances. If the credit 
balance  amount  is  $1  or  more,  it  will  be  refunded  upon  your 
written  request  or  automatically  after  6  months.  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. 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 it is required to provide 
to you. The merchant may charge you for a canceled transaction 
unless  you  can  provide  us  with  the  merchant's  cancellation 
number.  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. 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.

24.  ADDITIONAL  BENEFITS/CARD  ENHANCEMENTS  –  MSUFCU 
may, from time to time, offer additional services to your Account, 
such as travel accident insurance or a liability waiver program, at 
no  additional  cost  to  you. You  understand  that  MSUFCU  is  not 
obligated  to  offer  such  services  and  may  withdraw  or  change 
them at any time.

25.  EFFECT OF AGREEMENT – This Agreement is the contract that 
applies  to  all  transactions  on  your  account  even  though  the 
sales, cash advances, credit, or other slips you sign or receive may 
contain different terms.

26.  NO WAIVER – MSUFCU can delay enforcing any of its rights any 

number of times without losing them.

27.  STATEMENTS  AND  NOTICES  –  Unless  separate  sub-accounts 
have  been  set  up  under  your  Account  for  authorized  users, 
statements and notices will be mailed to you at the most recent 
address you have given us. You agree to notify us at least 10 days 
in  advance  of  any  change  in  address.  Notice  sent  to  any  one 
person bound under this Agreement will be considered notice to 
all. If we have agreed to send statements for sub-accounts under 
your Account that have been issued to authorized users, we will 
send statements to the most recent address you have provided 
for that user. You agree to notify us at least 10 days in advance of 
any change in address for an authorized user. You are responsible 
for payment of all amounts shown on a statement delivered to an 
authorized user.

28.  NOTIFICATION OF CHANGE IN LEGAL STRUCTURE, OFFICERS 
OR  OWNERS  –  You  agree  to  notify  us  within  10  days  of  any 
change in your legal structure or any change in your officers or 
owners.

29.  SEVERABILITY  AND  FINAL  EXPRESSION  –  This  Agreement  is 
the final expression of the terms and conditions of your Account. 
This written Agreement may not be contradicted by evidence of 
any alleged oral agreement. Should any part of this Agreement 
be  found  to  be  invalid  or  unenforceable,  all  other  parts  of  this 
Agreement  shall  remain  in  effect  and  fully  enforceable  to  the 
fullest extent possible under this Agreement.

30.  GAMBLING  TRANSACTIONS  PROHIBITED  –  You  may  not  use 

your Card to initiate any type of gambling transaction.

31.  INTERNET  GAMBLING  TRANSACTIONS  PROHIBITED  –  You 
may not use your Card to initiate any type of electronic gambling 
transaction through the internet.

32.  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.

33.  CREDIT UNION MEMBERSHIP – You understand and agree that 
the  closing  of  your  MSUFCU  Business  Spartan  Saver  account 
terminates  your  status  as  a  member  of  MSUFCU,  and  upon 
such closing, you can no longer obtain credit with an MSUFCU 
Business Visa Credit Card.

34.  PERSONAL  GUARANTY  –  If  you  signed  the  application  as  a 
Personal  Guarantor  or  Authorized  Officer,  you  unconditionally 

guarantee (i) the full and prompt payment when due, whether by 
acceleration or otherwise, and at all times hereafter, of all credit 
extended, together with applicable INTEREST CHARGE, fees, and 
collection costs; and (ii) the full and prompt performance of all 
the terms, covenants, conditions, and agreements relating to this 
Account. This guaranty can be revoked by a Personal Guarantor 
by providing 60 days' written notice to us at our address below, 
or at such other address as we may specify from time to time, but 
any such revocation will in no way affect any obligations of the 
Personal  Guarantor  existing  on  or  prior  to  the  effective  date  of 
such revocation.

35.  GOVERNING LAW – This Agreement is governed by the laws of 

the State of Michigan and applicable federal laws.

36.  NOTIFICATION INFORMATION FOR REPORTING LOST, STOLEN 
AND UNAUTHORIZED USE OF CARD – Notify us at once if your 
Card has been lost or stolen or if you suspect that your Card is 
being used without your permission at the following:

During business hours, call:
800-678-4968 or 517-333-2424

After business hours, call: 888-393-1172 

Email: eservices@msufcu.org

The information about the costs of the card described in this 
disclosure is accurate as of 3/1/19. This information may have 
changed after that date. To find out what may have changed, 
write to us at PO Box 1208, East Lansing, MI  48826-1208.

msufcu.org/business
517-333-2424  •  800-678-4968

Monday – Friday:  7:00 a.m. – 9:00 p.m.
9:00 a.m. – 3:00 p.m.
Saturday:  

Branches

Monday – Thursday:   9:00 a.m. – 5:30 p.m.
9:00 a.m. – 6:00 p.m.
Friday:   
9:00 a.m. – 3:00 p.m.
Saturday:   

Drive-Up Teller Hours
Monday – Friday:   
Saturday:   

7:00 a.m. – 6:00 p.m.
9:00 a.m. – 3:00 p.m.

East Lansing
3777 West Rd.†
4825 E. Mt. Hope Rd.†
523 E. Grand River Ave.*†
MSU Union, 49 Abbot Rd., Room #108*
Lansing
653 Migaldi Ln.†
200 E. Jolly Rd.†
104 S. Washington Sq.*†
1200 E. Michigan Ave., Sparrow Prof. Bldg, Suite 300*

Sparrow Branch Hours: Monday – Thursday: 7:00 a.m. – 5:30 p.m. 

Friday: 7:00 a.m. – 6:00 p.m.

Okemos
1775 Central Park Dr.†
2300 Jolly Rd.†
Haslett
16861 Marsh Rd.†
Charlotte
180 High St.†
Mason
1133 S. Cedar St.† 
Auburn Hills
3265 Five Points Dr.*†
Clarkston
8055 Ortonville Rd.†
Ortonville
4 South St.†
Grand Rapids
86 Monroe Center St. NW*

Federally insured 
by NCUA

* Branches without drive-up tellers
† Branches with night deposit

10%

Specific features, rates, and fees of Credit Union 
services are subject to change without notice.

222        03/19

B002A

Business Visa  
Credit Card
________

Agreement and
Truth-in-Lending
Disclosure Statement

 
 
 
This Business Visa Credit Card Agreement (“Agreement”) includes this 
document;  any  letter,  card  carrier,  card  insert,  and  addendum;  any 
other document accompanying this Agreement; any application that 
you signed or submitted to MSUFCU; and any notification of changes 
to this Agreement.

The  words  “you”  and  “your”  mean  each  business  or  organization 
(“organization”  or  "company")  which  agrees  to  be  bound  by  this 
Agreement set forth below. The words "we", "our",  "us",  "Credit Union", 
and "MSUFCU" mean Michigan State University Federal Credit Union 
or  anyone  to  whom  MSUFCU  transfers  this  Agreement.  The  word 
“Card”  means  the  Business  Visa  Credit  Card(s)  you  receive  from 
MSUFCU  and  any  duplicates,  renewals,  or  substitutions  MSUFCU 
issues to you. The word “Account” means the credit card line-of-credit 
account MSUFCU approves for you that is subject to this Agreement.

1.  PERSONS BOUND – By signing (in ink, electronically, or digitally) 
any  application  stating  your  agreement  to  be  bound  by  this 
Agreement,  using  the  Card  or  account  we  issue  to  you,  or 
authorizing an employee to use the card or account we issue to 
you, you agree to be bound by the terms of this Agreement.

2.  RESPONSIBILITY – You have applied to us for a Business Visa Credit 
Card  line-of-credit  account.  We  have  approved  the  account  and 
issued you a Card(s). By activating and using this Card(s), you agree 
to be bound by the terms and conditions of this agreement. You 
promise to repay all debts and the INTEREST CHARGE arising from 
any authorized use of the Card(s). You agree that only authorized 
users  will  use  the  Card(s).  You  agree  not  to  let  an  unauthorized 
person use the Card(s). In addition, you agree that any authorized 
user  may  make  purchases  individually  and,  if  cash  advances  are 
permitted for your account, may obtain cash advances individually. 
If  any  Guarantors  have  signed  the  application,  each  of  the 
Guarantors, separately and jointly with each other, is liable for all 
amounts charged to the account and any INTEREST CHARGE.

3.  STATEMENT  OF  BUSINESS  PURPOSE  –  You  agree  that  you 
have  represented  to  us  that  you  are  obtaining  your  account 
for  business  purposes. You  also  agree  that  all  Cards,  purchases, 
balance transfers, and use of convenience checks issued on your 
account  and  any  other  use  of  your  account  will  be  used  solely 
for  business  or  commercial  purposes.  You  agree  that  you  will 
never  use  your  account  for  any  personal,  family,  or  household 
purposes.

4.  CREDIT LINE  –  We have established a self-replenishing line of 
credit for you and have notified you of the amount (“credit limit”) 
via the Addendum included with this disclosure. You agree not 
to let your Account balance exceed such amount. Each payment 
you make on the Account will replenish your credit limit by the 
part of that payment which is applied to principal. We may reduce 
your credit limit from time to time, change the rate in accordance 
with the conditions of the cardholder information section of the 
agreement,  or  may,  with  good  cause,  revoke  your  Card(s)  and 
terminate this Agreement. In any event, we will give you written 
notice of such action. “Good cause” includes your failure to satisfy 
the  terms  of  this  Agreement;  an  adverse  re-evaluation  of  your 
creditworthiness; any warranty, representation, or statement made 
or furnished to us by you or on your behalf under this Agreement or 
any related documents that are false or misleading in any material 
respect, either now, at the time made or furnished, or at any time 
thereafter; the dissolution or termination of your existence as a 
going business, your insolvency, or the appointment of a receiver 

for any part of your property; you or any Guarantor defaulting under 
any loan, extension of credit, security agreement, purchase or sales 
agreement, or any other agreement in favor of any other creditor 
or person that may materially affect any of your or any Guarantor’s 
property rights or your or any Guarantor’s ability to repay the amounts 
owing or perform their respective obligations under this Agreement 
or any of the related documents; any assignment for the benefit of 
creditors, any type of creditor workout, or the commencement of any 
proceeding under any bankruptcy or insolvency laws by or against 
you;  any  change  in  ownership  of  20%  or  more  of  your  common 
stock; any material or adverse change in your financial condition; 
our belief that the prospect of payment or performance of the line 
of credit is impaired; or if we, in good faith, believe MSUFCU to be 
insecure.

5.  USING THE CARD – We have enclosed, or will send in the near future, 
a Card(s) embossed as you have directed. As soon as received, each 
Card must be signed (in the space provided on the back) by the 
person whose name is embossed thereon. That signature must be 
in the same form as embossed on the front of the Card. Your liability 
under this Agreement does not depend upon whether an authorized 
user signs his or her Card. You may use your Card to make purchases 
from merchants and others who accept your Card. MSUFCU is not 
responsible for the refusal of any merchant or financial institution 
to honor your card. If you wish to pay for goods or services over 
the internet, you may be required to provide card number security 
information before you will be permitted to complete the transaction. 
In addition, MSUFCU may permit you to obtain cash advances from 
the Credit Union, from other financial institutions that accept your 
card, and from some automated teller machines (ATMs) (not all ATMs 
may accept your card). If MSUFCU authorizes ATM transactions with 
your card, we will issue you a personal identification number (PIN). 
To obtain cash advances from an ATM, you must use the PIN that is 
issued to you for use with your card. You agree that you will not use 
your card for any transaction that is illegal under applicable federal, 
state, or local law. Even if you use your Card for an illegal transaction, 
you will be responsible for all amounts and the INTEREST CHARGE 
incurred in connection with the transaction. We will not be liable if 
you or your authorized users engage in any illegal transactions. If you 
are permitted to obtain cash advances on your account, you may also 
use your Card to purchase instruments and engage in transactions 
that we consider the equivalent of cash. Such transactions will be 
posted to your account as cash advances and include, but are not 
limited to, wire transfers, money orders, bets, lottery tickets, and 
casino  gaming  chips. This  paragraph  shall  not  be  interpreted  as 
permitting or authorizing any transaction that is illegal.

6. 

INTEREST RATE – The interest rates applicable to purchases, cash 
advances,  and  balance  transfers  are  disclosed  in  the  Addendum 
that  accompanies  this  Agreement.  Any  penalty  rate  that  may  be 
imposed for failing to make a payment by the Payment Due Date 
is  also  disclosed  on  the  Addendum.  These  rates  may  be  either 
fixed or variable as disclosed in the Addendum accompanying this 
Agreement.  If  your  rate  is  fixed,  the  rate  charged  on  purchases, 
cash advances, balance transfers, and any penalty rate will be fixed 
and  will  not  vary  from  month  to  month  unless  we  notify  you  in 
advance  that  the  rate  will  change.  If  the  rate  for  your  account  is 
variable,  as  indicated  on  the  accompanying  Addendum,  the  rate 
charged  on  purchases,  cash  advances,  balance  transfers  and  any 
penalty  rate  will  vary  periodically  as  disclosed  in  the  Addendum 
accompanying this Agreement. The initial rate on your account for 

certain types of transactions may be an introductory discounted 
rate  (introductory  rate)  that  is  lower  than  the  rate  that  would 
ordinarily  apply  for  that  type  of  transaction.  If  an  introductory 
rate  applies  to  your  account,  the  rates  and  the  period  of  time 
it will be effective are shown on the Addendum accompanying 
this  Agreement.  After  the  introductory  rate  period  expires,  the 
interest  rate  will  automatically  increase  to  the  rate  that  would 
normally apply for that type of transaction based on the terms of 
this Agreement.

7.  PENALTY RATE – All rates for your account, including the rates for 
purchases, cash advances, and balance transfers, will automatically 
increase  to  the  penalty  rate  disclosed  on  the  Addendum 
accompanying  this  Agreement  if  your  account  or  sub-accounts 
become  delinquent  30  days  or  more  twice  during  any  12-month 
period, if no payment is received within 60 days from its due date, 
or upon adverse evaluation of your creditworthiness.

8. 

INTEREST  CHARGES  –  In  order  to  avoid  a  INTEREST  CHARGE  on 
purchases made since your last statement date, you must pay the 
Total  New  Balance  shown  on  your  statement  within  25  days  of 
the statement closing date. Otherwise, the INTEREST CHARGE on 
purchases is calculated on the next statement period on previously 
billed but unpaid purchases and on new purchases from the date 
they are posted to your account. Balance transfers and cash advances 
are always subject to a INTEREST CHARGE from the date they are 
posted to your account. The INTEREST CHARGE (interest) on your 
purchases, balance transfers, and cash advances is calculated at a 
monthly periodic rate as set forth in the Addendum accompanying 
this Agreement. For purchases, the interest charge is computed by 
applying the periodic rate to the average daily balance of purchases. 
To get the average daily balance of purchases, we take the beginning 
outstanding balance of purchases, add in any new purchases, and 
subtract any payment and/or credits that we apply to the purchase 
balance. This gives us the daily balances of purchases. Then, we add 
all the daily balances of purchases for the billing cycle together and 
divide the total by the number of days in the billing cycle. This gives 
us the average daily balance of purchases.

For cash advances, the INTEREST CHARGE is computed by applying 
the periodic rate to the average daily balance of cash advances. To get 
the average daily balance of cash advances, we take the beginning 
outstanding balance of cash advances each day, add in any new cash 
advances, and subtract any payments and/or credits that we apply 
to the cash advance balance. This gives us the daily balance of cash 
advances. Then, we add all the daily balances of cash advances for the 
billing cycle together and divide by the total number of days in the 
billing cycle. This gives us the average daily balance of cash advances.

9.  OTHER CHARGES – In addition to the interest rate, the following 
additional  fees  may  be  imposed  on  your  account.  If  applicable 
to  your  account,  the  amount  of  these  fees  is  disclosed  in  the 
Addendum  accompanying  this  Agreement.  Your  account  may 
also be subject to additional fees and charges as set forth in the 
Addendum accompanying this Agreement.

a.  Cash  Advance  Fee.  If  your  account  is  subject  to  a  cash 
advance fee, the fee will be added to your account when you 
obtain a cash advance on your account.

b.  Balance Transfer Fee. If your account is subject to a balance 
transfer fee, the fee will be added to your account when you 
transfer a balance from an account of another creditor to the 
account subject to this Agreement.

c.  Annual  Fee.  If  your  account  is  subject  to  an  annual  fee,  the 
fee will be added to your account upon the issuance of your 
card. The fee will be included on the first billing statement you 
receive after you open your account and will be charged each 
following  year  during  the  same  month  that  you  were  first 
charged the fee until you close your account.

d.  Over-the-Limit  Fee.  If  your  account  is  subject  to  an  over-
the-limit  fee,  the  fee  will  be  added  to  your  account  if  your 
account  balance  ever  exceeds  your  credit  limit  during  a 
billing  cycle.  This  fee  will  continue  to  be  charged  for  each 
subsequent month until your account balance is equal to or 
less than your credit limit.

e.  Returned Check Fee. If your account is subject to a returned 
check fee, the fee will be added to your account whenever 
you make a payment by check and the check is returned to 
us unpaid.

f.  Late Payment Fee. If your account is subject to a late payment 
fee, the fee will be added to your account if you do not make 
the  required  minimum  payment  by,  or  within  the  number 
of days of, the statement Payment Due Date set forth in the 
Addendum accompanying this Agreement.

g.  International  Transaction  Fee.  If  your  account  is  subject  to 
an international transaction fee, a fee may be added to your 
account for transactions made outside of the United States 
or in a foreign currency. Transactions that are completed in a 
foreign currency or in a foreign country using a Visa-branded 
card  or  processed  by  a  network  operated  or  affiliated  with 
Visa  may  be  subject  to  a  fee  as  set  forth  in  the  Addendum 
accompanying this Agreement. All International transaction 
fees are calculated based on the transaction amount after it 
is converted to U.S. dollars.

h.  Card  Replacement  Fee.  If  your  account  is  subject  to  a  card 
replacement  fee,  a  fee  will  be  added  to  your  account 
whenever you request a replacement card for your account.

i.  Document Copy Fee. If your account is subject to a document 
copy  fee,  except  as  limited  by  applicable  law,  a  fee  may 
be  added  to  your  account  for  each  copy  of  a  sales  draft  or 
statement that you request.

10.  PAYMENTS  –  Each  month,  you  must  pay  at  least  the  minimum 
payment shown on your statement by the date specified on the 
statement or no later than 7 days from the statement closing date. If 
your statement says the payment is “Now Due,” your payment is due 
no later than 7 days from the statement closing date. All payments 
must be made in U.S. dollars and, if made by a negotiable instrument, 
such as a check or money order, must be in a form acceptable to 
us and drawn on a U.S. financial institution. If you make extra or 
larger payments, you are still required to make at least the minimum 
payment each month your account has a balance (other than a 
credit balance). The minimum payment for your account is shown 
in the Addendum accompanying this Agreement. In addition to 
the minimum payment, you must also pay, by the date specified 
above,  the  amount  of  any  prior  minimum  payment(s)  that  you 
have not made, all outstanding unpaid fees and charges, and any 
amount you are over your credit limit. MSUFCU also has the right 
to demand immediate payment of any amount by which you are 
over your credit limit. Subject to applicable law, your payments may 
be applied to what you owe to MSUFCU in any manner the Credit 

Union chooses. We will apply your payments in any manner we 
choose at our discretion. All payments will be processed as of the 
close of the business day on which they are received. We reserve 
the right to change the manner in which payments are allocated.

11.  CARD EXPIRATION – Your Card is valid until the expiration date 
on the front of the Card or until the Card has been inactive for 
18  consecutive  months  and  has  a  $0  balance,  at  which  time 
the Card will automatically expire. If there is no activity after 24 
consecutive months, your line of credit will be canceled. After 
the Card has expired, it is no longer valid. You will not be able to 
use the Card and all transactions will be declined. If your Card 
is active within the prior 12 months, you will automatically be 
issued a new Card 7-10 business days prior to its expiration date, 
unless the Card is otherwise terminated. You agree to notify us of 
any change in address for Card reissuance, disclosure, and other 
contact purposes.

12.  CONSENT TO  CONTACT  –   You  agree  we  and  our  agents  may 
contact you by phone or wireless device at any phone number 
associated with your account, including wireless (i.e. cell phone 
numbers), in order to service your account, provide you fraudulent 
activity alerts, or collect any amounts owed to us, excluding any 
contacts for telemarketing purposes as required by law. You further 
agree methods of contact may include, but  are not limited to, the 
use  of  text  messages,  prerecorded  or  artificial  voice  messages, 
and/or use of an automatic dialing service. Calls and messages 
may incur access fees from your cellular provider. You understand 
you are not required to provide service consent as a condition to 
receiving products or services and you may revoke your consent 
or change the phone number provided by contacting us at 517-
333-2424 or 800-678-4968, msufcu.org, or by visiting any MSUFCU 
branch.

13.  VISA  ACCOUNT  UPDATER  (VAU)  –  VAU  is  an  account  updating 
service in which your Card is automatically enrolled. When your 
Card(s) expires, or is lost or stolen, and a new Card(s) is issued, the 
service may update relevant Card data (Card number, CVV, and 
expiration  date)  to  appropriate  merchants  who  participate  in 
an effort to facilitate uninterrupted processing of your recurring 
charges. This service provides updates to our Visa database only. 
The database is accessed only by those qualified merchants seeking 
your account information after you have requested they process 
a recurring payment or payments. You understand that neither 
Visa nor MSUFCU can guarantee that your account updates will 
be communicated to merchants prior to your next statement date. 
This service is provided as a free benefit to you. If at any time you 
wish to opt-out of the VAU service or if you have any questions, 
please contact us 517-333-2424 or 800-678-4968, msufcu.org, or 
by visiting any MSUFCU branch.

14.  COMMUNICATIONS – Any communications concerning a disputed 
balance, including an instrument tendered as full satisfaction of a 
debt, must be sent directly to:

  MSU Federal Credit Union
Attn: Visa Department
3777 West Road
East Lansing, MI 48823
800-678-4968 or 517-333-2424
eservices@msufcu.org

15.  INTERNATIONAL TRANSACTIONS – When you use your Business Visa 
Credit Card for international transactions, a fee will be assessed. You 

agree to pay a 1.00% international service assessment fee for ATM and 
point-of-sale (i.e. PIN-based) transactions and a 3.00% international 
transaction  fee  for  all  other  international  transactions  and  cash 
advances. The fee will be assessed on international transactions if a 
currency conversion does take place or if the transaction is processed 
in U.S. dollars.

When you use your Visa Debit Card, Visa Credit Card, or ATM card 
at a merchant that settles in, or at an ATM that dispenses, currency 
other than U.S. dollars, the charge will be converted into the U.S. 
dollar  amount.  The  currency  conversion  rate  used  to  determine 
the transaction amount in U.S. dollars is either a wholesale market 
rate or the government-mandated rate in effect the day before the 
processing date. The conversion rate in effect on the processing date 
may differ from the rate in effect on the transaction date or posting 
date. The international transaction fee will be calculated after the 
transaction has been converted to U.S. dollars.

16.  COLLECTION COSTS – You agree to pay all costs of collecting the 
amount you owe under this Agreement, including court costs and 
reasonable attorney’s fees, as permitted by applicable state law.

17.  SECURITY INTEREST – To secure performances of your obligations 
under  this  Agreement,  you  and  all  Guarantors  hereby  grant  to 
MSUFCU a security interest in funds you may have on deposit with 
us from time to time and in any other money MSUFCU may owe 
you, except for shares in an Individual Retirement Account (IRA) or 
in any other account that would lose special tax treatment under 
state or federal law if given as security. You understand and intend 
that  by  reason  of  such  security  interest  here  granted,  MSUFCU 
may satisfy your indebtedness under this Agreement by charging 
such deposit account(s) maintained with MSUFCU if you default 
in payment under this Agreement without further notice to you 
or to any Guarantor. These shares may be withdrawn unless you 
are in default under this Agreement. If you give MSUFCU a specific 
pledge  of  shares  by  signing  a  separate  pledge  of  shares,  your 
pledged shares will secure your account. You may not withdraw 
amounts that have been specifically pledged to secure your account 
until MSUFCU agrees to release all or part of the pledged amount. 
Collateral securing other loans you have with MSUFCU will also 
secure this loan, except that a Guarantor's principal dwelling or 
property  used  for  personal,  family,  or  household  purposes  will 
never be considered as security for this account, notwithstanding 
anything to the contrary in any other agreement.

18.  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

• Any of your Cards are used for an illegal transaction

• You  or  any  Guarantor  become  involved  in  any  insolvency, 
receivership,  guardianship,  conservatorship,  or  any  other 
proceeding which determines you or any such Guarantor are 
incapable of managing your financial affairs, including filing 
for bankruptcy

• You or any Guarantor have made a false or misleading statement 
in  any  credit  application  and/or  in  any  representation  to  us