IMPORTANT:  Please read this folder and retain it for your records.
VISA/Mastercard Disclosure Statement
G-14081
In compliance with the requirements of the Federal Credit Protection Act of 1968 (Truth in Lending Act) which became 
effective July 1, 1969, this bank makes the following disclosure of credit terms applicable to the use of your Visa and 
MasterCard Account.
(1) With respect to cash advances, whether made by the use of 
your Visa Card, MasterCard, or No Bounce Checking privileges 
or otherwise, and regardless of when payment is made, an initial 
FINANCE CHARGE equal to 2% of the cash advance is imposed 
for each such advance, and, in addition, a FINANCE CHARGE is 
imposed on the closing date for each billing cycle, computed by 
applying a Periodic Rate of 1.16% per month (13.92% ANNUAL 
PERCENTAGE RATE) to the average daily balance of such cash 
advances during such billing cycle.
(2) With respect to extensions of credit for goods and services, 
a FINANCE CHARGE is imposed on the closing date for each 
billing cycle, computed by applying a Periodic Rate of 1.16% per 
month (13.92% ANNUAL PERCENTAGE RATE) to the average 
daily  balance  of  such  extensions  of  credit  during  such  billing 
cycle, except that no FINANCE CHARGE for goods and services 
extensions of credit will be imposed for any billing cycle in which 
payment in full of the New Balance shown on the periodic billing 
statement for the preceding billing cycle is received prior to the 
Due Date shown therein.
(3) The average daily balance of cash advances is the sum of the 
actual amounts outstanding for such cash advances (whenever 
made,  including  cash  advances  made  for  the  first  time  during 
the billing cycle) on each day of the billing cycle, divided by the 
number of days in the billing cycle.  The average daily balance 
of extensions of credit for goods and services is the sum of the 
actual amounts outstanding for such extensions (whenever made, 
including such extensions of credit made for the first time during 
the billing cycle) on each day of the billing cycle, divided by the 
number of days in the billing cycle.  Extensions of credit for goods 
and services are considered a part of the average daily balance 
from the date of the transaction with the participating merchant 
or  the  first  day  of  the  billing  cycle  reflecting  the  transaction, 

whichever date is later.  Extensions of credit for cash advances 
are considered a part of the average daily balance from the date 
of the cash advance or the first day of the billing cycle reflecting 
the transaction, whichever date is later.
(4) The  Bank  takes  no  security  interest  directly  in  connection 
with the use of your Card.  Collateral, other than your principal 
dwelling, securing your other loans with the Bank  may also secure 
all amounts you owe under the Card Plan.
(5)  The  minimum  periodic  (Monthly)  payment  required  under 
the Card Plan is 3% of your New Balance or $10.00, whichever 
is greater.  In the event you fail to pay such minimum periodic 
(Monthly) payment within 10 calendar days after the Due Date 
shown  on  the  periodic  billing  statement  which  first  includes 
such minimum periodic (Monthly) payment, a late charge of up 
to  $20.00    may  be  imposed  on  your  next  succeeding  periodic 
billing statement.
(6) If any check received in payment of all or part of your Card 
account  is  returned  unpaid,  an  $18.00  handling  fee  will  be 
assessed and billed on the date the check is returned.
(7) “Reasonable  Attorney’s  Fees”  and  other  costs  of  collection 
may be imposed in the event you fail to pay the minimum periodic 
monthly payment required, or otherwise default on the terms of 
your cardholder agreement.
(8) With respect to Visa cards only, the exchange rate between the 
transaction currency and the billing currency used for processing 
international transactions is a rate selected by Visa from a range 
of rates available in wholesale currency markets for the applicable 
central processing date, which may vary from the rate that Visa 
itself  receives  or  the  government-mandated  rate  in  effect  for 
the applicable central processing date. We add a 1% currency 
conversion fee to the billed amount posted to your statement.

Your Billing Rights
Keep This Notice For Future Use
This notice contains important information about your rights and our responsibilities under the Fair Credit Billing Act.

Notify  Us  in  Case  of  Errors  or  Questions 
About Your Bill

Your Rights and Our Responsibilities After 
We Receive Your Written Notice

(1) If you think your bill is wrong, or if you 
need more information about a transaction 
on your bill, write us [on a separate sheet] 
at  Bank Card Department, PO Box 90002, 
Blacksburg, Virginia, 24062.  Write to us as 
soon as possible.  We must hear from you 
no  later  than  60  days  after  we  sent  you 
the first bill on which the error or problem 
appeared.  You can telephone us, but doing 
so will not preserve your rights.
(2)  In  your  letter,  give  us  the  following 
information: 

a.  Your name and account number.
b. The dollar amount of the suspected 

error.

c. Describe  the  error  and  explain,  if 
you can, why you believe there is an 
error. If you need more information, 
describe the item you are not sure 
about.

(3) If you have authorized us to pay your 
credit  card  bill  automatically  from  your 
savings or checking account, you can stop 
the  payment  on  any  amount  you  think  is 
wrong.  To stop the payment your letter must 
reach  us  three  business  days  before  the 
automatic payment is scheduled to occur.

(1) We must acknowledge your letter within 
30 days, unless we have corrected the error 
by  then.   Within  90  days,  we  must  either 
correct the error or explain why we believe 
the bill was correct.
(2) After we receive your letter, we cannot try 
to collect any amount you question, or report 
you as delinquent.  We can continue to bill 
you for the amount you question, including 
finance  charges,  and  we  can  apply  any 
unpaid amount against your credit limit.  You 
do not have to pay any questioned amount 
while we are investigating, but you are still 
obligated to pay the parts of your bill that 
are not in question.
(3) If we find that we made a mistake on 
your bill, you will not have to pay any finance 
charges related to any questioned amount.  
If we didn’t make a mistake, you may have 
to pay finance charges, and you will have 
to make up any missed payments on the 
questioned amount.  In either case, we will 
send you a statement of the amount you 
owe and the date that it is due.
(4) If you fail to pay the amount that we think 
you owe, we may report you as delinquent.  
However, if our explanation does not satisfy 
you and you write to us within 10 days telling 
us that you still refuse to pay, we must tell 

anyone we report you to that you have a 
question about your bill.  And,  we must tell 
you the name of anyone we reported you 
to.  We must tell anyone we report you to 
that the matter has been settled between 
us when it finally is.
(5) If we don’t follow these rules, we can’t 
collect  the  first  $50  of  the  questioned 
amount, even if your bill was correct.

Special Rule for Credit Card Purchases

 (1)  If you have a problem with the quality 
of property or services that you purchased 
with  a  credit  card,  and  you  have  tried  in 
good faith to correct the problem with the 
merchant, you may have the right not to pay 
the remaining amount due on the property 
or services.  There are two limitations on 
this right:

a. You must have made the purchase  
in your home state or,  if  not within  
your home state within 100 miles of  
your current mailing address; and
b. The purchase price must have been 

more than $50.

These  limitations  do  not  apply  if  we  own 
or  operate  the  merchant,  or  if  we  mailed 
you the advertisement for the property or 
services.

NOTICE:  Please see reverse side for Rules and Regulations and Cardholder Agreement

 
 
 
 
 
VISA/Mastercard 
Rules and Regulations and Cardholder Agreement

These Rules and Regulations apply to any Visa Card or MasterCard (“Card”) issued, or to be issued by this bank 
(“Bank”).  Any individual, firm, partnership or corporation (“Cardholder”) who either retains, makes application for, 
signs, uses or authorizes the use of the Card, agrees to be bound by the following Rules and Regulations, and 
agrees that they shall constitute the agreement between the Bank and Cardholder governing the use of the Card.  
Furthermore, such Cardholder expressly agrees to be bound by the rates and charges applicable to the use of 
the Card, as set forth in the Disclosure Statement included within this folder.

(1)  Bank  may  refuse  to  issue    a  Card, 
or  may  revoke  any  Card  issued  to  a 
Cardholder,  with  or  without  cause  or 
notice. The  Card  at  all  times,  remains 
the  property  of  the  Bank  and  may  be 
repossessed  by  the  Bank  at  any  time.  
Any revoked Card must be surrendered 
upon  demand,  or  upon  knowledge  of 
its  revocation,  to  the  Bank  or  its  agent 
designated to repossess the Card.  No 
expired or revoked Card shall be used to 
obtain, or attempt to obtain, credit.
(2) The Cardholder may, under the terms 
hereof only, buy goods or services from 
the businesses displaying the Visa sign, 
MasterCard,  or  Interbank  (“Merchant”) 
or borrow cash from the Bank or other 
banks displaying such signs, by use of 
the  Card.    Any  reasonable  and  proper 
procedures required by the Bank or the 
Merchant  honoring  the  Card  must  be   
followed.   The  card  must  be  signed  by 
the  Cardholder,  or  authorized  user,  to 
insure its proper use.
(3)  The  Cardholder  shall  not  use  the 
Card  if  such  use  would  make  the 
Cardholder’s  debt  to  the  Bank  by  use 
of  the  Card  greater  than  the  limit  set 
by the Bank from time to time by notice 
to  the  Cardholder.    However,  the  Bank 
may, at its option, recognize transactions 
(and extend credit) which will cause the 
Cardholder’s  outstanding  balance  to 
exceed the maximum credit limit.
(4)  The Cardholder shall be responsible 
fo r   a l l   c r e d i t   o b t a i n e d   ( t h r o u g h 
purchases, cash advances or otherwise) 
by the authorized use of the Card by any 
person.  The Cardholder shall be liable 
for  unauthorized  use  of  the  Card  (for 
purchases, cash advances or otherwise) 
only if (1) the Card has been accepted, 
(2)  the  Bank  has  given  notice  to  the 
Cardholder  of  potential  liability,  (3)  the  
Bank has provided the Cardholder with 
a toll free telephone number to be called 
in the event of loss or theft, and (4) the 
unauthorized  use  occurs  before  the 
Cardholder has given notice of the loss or 
theft.  The Cardholder’s maximum liability 
is  limited  to  $50.    Should  the  Bank  fail 
to comply with these requirements, the 
Cardholder has no liability whatsoever for 
unauthorized use of the  Card. 
(5)  If  any  Card  is  lost  or  stolen,  the 
Cardholder shall immediately notify the 

Bank  upon  discovery  of  such  loss  or 
theft.  The Cardholder shall confirm such 
notice  in  writing  within  48  hours.   The 
Cardholder  shall  cooperate  completely 
with  the  Bank  in  its  attempt  to  recover 
the  Card  from  unauthorized  users  and  
shall  assist  in  the  prosecution  of  such 
person(s).
(6)  At  the  time  of  obtaining  each  cash 
advance  or  of  making  each  purchase 
transaction, the Cardholder, or authorized 
user,  shall  sign  a  cash  advance  slip  or 
sales  slip  evidencing  the  transaction.  
The  word “slip”  shall  include  a  draft  or 
any  other  instrument  acknowledging 
or  recognizing  the  transaction.    The 
Cardholder  shall  be  furnished  one 
properly executed copy of each slip.
(7) The  Bank  shall  have  no  liability  or 
responsibility  if  any  Merchant  or  other 
bank refuses to honor the Card, and the 
Bank shall not be, or be deemed , a party 
to  any  purchases  or  other  transaction 
between the  Cardholder (or other user 
of the Card) and Merchant, even though 
the  Bank  may  be  obligated  to  make 
disbursements directly to such Merchant.  
Under the Fair Credit Billing Act, if there 
is a dispute or problem with property or 
services purchased on the basis of such 
Card, the Cardholder may have the right 
not to pay the remaining amount due on 
such  purchases,  if  the  Cardholder  first 
tries in good faith to return them or give 
the  Merchant  a  chance  to  correct  the 
problem.   There  are  two  limitations  on 
this right:  First, the  purchase must have 
occurred in the Cardholder’s home state 
or if outside said state, within 100 miles of 
the Cardholder’s current mailing address.  
Second, the purchase price must have 
been  more  than  $50.    However,  these 
limitations do not apply if the Merchant 
is  owned  by  the  Bank  or  if  the  Bank 
mailed the Cardholder the advertisement 
for  the  property  or  services.    Except 
for  transactions  governed  by  the  Fair 
Credit Billing Act provisions above, upon 
assignment  of  the  evidence  of  debt  by 
the Merchant to Bank, the Cardholder’s 
liability to the Bank shall be immediate 
and absolute, and the Bank shall not be 
responsible for any claims or defenses 
the  Cardholder  may  have  against  any 
Merchant.
(8)  The  Bank  will  bill  the  Cardholder 

monthly, on a date selected by the Bank, 
for amounts becoming due through the 
use  of  the  Cardholder’s  Card.    Upon 
receipt, the Cardholder should examine 
each  bill  and  immediately  notify  the 
Bank  of  any  charge  or  item  which  the 
Cardholder  believes  to  be  in  error,  or 
subject to dispute.  Any charge or item 
for which the  Bank is not notified within 
sixty (60) days after the billing date shall 
be deemed to be correct.
(9) Notwithstanding anything herein, in 
the event of (1) default by the Cardholder 
in  making  any  payment  when  due  and 
payable,  (2)  default  by  the  Cardholder 
under  any  provision  of  these  Rules 
and  Regulations,  (3)  the  Cardholder’s 
death, insolvency, or assignment for the 
benefit  of  creditors,  (4)  a  petition  filed 
or  any  other  proceeding  commenced 
under the Federal Bankruptcy Act or any 
state  insolvency  statute  by  or  against 
Cardholder, or (5) a receiver appointed 
for,  or  a  writ  or  order  of  attachment, 
levy or garnishment issued against the 
Cardholder  or  any  of  the  Cardholder’s 
property, assets or income, then, at the 
Bank’s option all amounts due from the 
Cardholder  to  the  Bank  shall  become 
immediately  due  and  payable,  and  in 
any  such  event  the  Cardholder  agrees 
to  pay  all  costs  of  collection,  including 
reasonable attorney’s fees, incurred by 
the Bank.
(10)  The  Bank  may  modify  or  amend 
these Rules and Regulations, in whole 
or in part, at any time or times, without 
notification to the Cardholder, provided, 
however,  that  the  credit  terms  and 
finance  charges  referred  to  in  the 
disclosure statement on this document 
shall in no manner be modified without 
first giving such notice.
(11) The construction and performance 
of  this  agreement  shall  be  governed 
by  the  laws  of Virginia  and  subject  to 
applicable federal law.
(12) Notice required to be given by these 
Rules and Regulations, by law, or desired 
to be given by the Bank, shall be deemed 
given if and when posted in the United 
States mail, postage prepaid, addressed 
to  the  Cardholder  at  the  last  known 
address as shown on the Bank’s records. 

Bank Card Department

PO Box 90002, Blacksburg, VA 24062-9002
540-951-6235 or (800) 951-6235