MAPS CREDIT UNION INITIAL DISCLOSURE AND CARDHOLDER AGREEMENT – World MasterCard®

This agreement covers your Credit Card issued by Maps Credit Union.  In this 
Agreement the words “you” and “your” mean any person who signs the appli-
cation for this Account, any joint obligor, guarantor, user, or the person whose 
name is embossed on the Card.   “We”, “our” and “us” mean Maps Credit Union. 
You agree that if you sign, request, use or permit others to sign or use any of the 
cards issued by Maps 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 Maps Credit Union. “Card” means a MasterCard® 
Credit Card, or a MasterCard® Debit Card or any other access devices we give 
you to access your 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.  

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. 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. 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. You may also terminate this agreement by not 
using your card for a period of 12 months or longer.

2. 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.

3. 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.

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 
rounded to the nearest dollar or $25.00 whichever is greater. Balances under 
$25.00 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.” 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 do not constitute a minimum payment. 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 excess of the 
minimum payment will be allocated first to higher rate balances, as applicable. 
From time to time, we may allow you to skip your minimum monthly payment due. 
If you choose to skip that payment, FINANCE CHARGES will continue to accrue 
in accordance with this Agreement. 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. Payments 
received at: Maps Credit Union, P.O. Box 31021, Tampa FL 33631-3021 at or be-
fore 5:00 PM Eastern Standard Time on any business day will be credited to your 
Account as of that date; payments received by mail at that address after 5:00 PM 
Eastern Standard Time, on a weekend or federal holiday will be posted to your 
Account as of the next business day. Payment crediting to your Account may be 
delayed up to five days if your payment is received by mail at any other address 
or not accompanied by the remittance portion of your Account statement.

4. SECURITY INTEREST. You understand that by signing, using this card or line 
of credit, you agree, individually and collectively, to give Maps Credit Union a 
security interest in all present and future shares you have, or have interest in, in 
any personal account(s) with us. Under the Federal Credit Union Act, we have a 
statutory lien on your shares and other deposits. This means we may place a lien 
on (freeze) your present and future shares, share certificates and dividends to the 
extent of that portion of your card account that is in default. You are also giving a 
security interest in all present and future checking accounts you have with us. You 
authorize us to take that money and apply it to what you owe if you are in default. 
You are not giving a security interest in any shares or money in an IRA, SEP, 
KEOGH, or any other account which, if pledged, would result in the loss of special 
tax treatment under the Internal Revenue Code. Additionally, you understand that 
collateral securing other loans, except real property, will secure this account. 

In addition, you grant us a purchase money security interest under the Oregon 
Uniform Commercial Code in any goods you purchase through your Account. If 
you default, we will have the right to recover any of these goods which have not 
been paid for through application of your payments in the manner described in 
Section 4.

5. FOREIGN TRANSACTIONS. Transactions made or processed in foreign coun-
tries will be billed to you in US dollars. Conversion to US dollars is determined 
by a rate selected by MasterCard from the range of rates available in wholesale 
currency markets for the applicable central processing date, which rate may vary 
from the rate MasterCard itself receives or the government mandated rate in 
effect for the applicable central processing date. 

6. COMPUTION OF YOUR ANNUAL PERCENTAGE RATE (APR).  Your APR is 
a variable rate based on the U.S. Prime Rate plus the applicable “Margin”. Unless 

an introductory or promotional APR is in effect, we will add a “Margin” to the U.S. 
Prime Rate to determine your variable APR. The Prime Rate is the highest prime 
rate published in the Wall Street Journal on the last business day of February, 
May, August and November.  If the U.S. Prime Rate is no longer published or 
is not available, we may select a similar index. Any change in your APR will be 
effective on the 1st day of your next billing cycle beginning on or after the first day 
of the next calendar quarter.  An increase or decrease in the APR may increase 
or decrease the total amount of interest you pay. If the APR changes due to a 
change in the U.S. Prime Rate, the new APR will apply as of the first day of your 
Billing Cycle. Any changes will apply to both existing and future balances on your 
Account. The APR will continue to vary even if your Account is closed.

7. 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 bal-
ance each day, add new purchases and other debits, and subtract payments and 
credits and divide by the number of days in the billing cycle.

8. FINANCE CHARGES. If the entire current credit card 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 transaction date.

The total finance charge shown on your monthly statement consists of the period-
ic finance charge on purchases and cash advances from the transaction date.

a. Cash Advances. A finance charge will be imposed on cash advances from the 
date of the transaction. There is no time period within which to pay to avoid a 
periodic finance charge on cash advances. In addition, if you use your card to 
obtain a Cash Advance, we will assess a transaction fee equal to 3% of the 
U.S. Dollar amount of the Cash Advance, subject to a minimum fee of $5.00.

b. Purchases. A finance charge will be imposed on the portion of purchases in-

cluded in the New Balance that remains unpaid 25 days after the closing date. 
This “grace period” allows you to avoid a finance charge on purchases for a 
billing cycle. If you do not pay within the grace period, your finance charge will 
accrue from the date the purchase is posted to your Account. 

c. Balance Transfers. A finance charge will be imposed on the portion of Balance 
Transfers included in the New Balance that remains unpaid 25 days after the 
closing date. This “grace period” allows you to avoid a finance charge on a 
Balance Transfer for a billing cycle. If you do not pay within the grace period, 
your finance charge will accrue from the date the Balance Transfer is posted to 
your Account. 

9. PERIODIC STATEMENTS. Each month, if you have had activity on your ac-
count or have a balance owing, we will send you a statement showing purchases, 
cash advances, balance transfers, payments, and credits made to your Account 
during the billing cycle, your “New Balance,” any FINANCE CHARGE, and any 
late charge or other charges. Your statement also will identify the Minimum 
Monthly Payment you must make for that billing period and the date it is due. You 
agree to retain for statement verification, copies of transaction slips resulting from 
each purchase, each advance, and any other transaction on your Account. Unless 
you notify us of a billing error as described below, you accept your monthly state-
ment as an accurate statement of your Account with us.

10. 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. 

11. AUTHORIZED CARDHOLDERS.  Maps Credit Union may permit account 
holders to add Authorized Cardholders to an account upon request. The account 
holder assumes any responsibility or liability for any transactions that the 
Authorized Cardholder may initiate. Authorized cardholders will be given a card 
associated with the account holder’s account. The use of authorized cards may 
not be for payroll purposes.

12. CONDITIONS UNDER WHICH OTHER CHARGES MAY BE IMPOSED.  
We may impose the following fees and charges on your Account:

a.  Annual Fee. The annual fee is waived the first year and thereafter, $49.00 will 
be charged to your account in the anniversary month of your account opening.  
The annual fee will be waived if you have a minimum of $10,000 per year in 
annual purchases and/or cash advances to your account.

b.  Attorney’s Fees and Costs. If you default on any part of this Agreement, you 
agree to pay us all costs to collect your Account, including court costs and 
reason-able 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.

c. Returned Payment Charge. Up to $20.00 charge will be assessed against your 
Account when a payment on the Account is returned, regardless of the reason.

d. Research and Copying Fees. We may charge you $15.00 for each draft copy 

and $18.00 per hour of research required if you request copies of any items or 
documents related to your Account. If the request relates to a billing error and 
we determine that a billing error was made, any photocopying charges will be 
refunded. Statement copies will be $1.50 per page, with an additional fee of 
$1.50 to fax information. 

e. Replacement Card Fee. A $5.00 charge will be assessed against your Account 

for each replacement Card you request.

f.  Late Charges. A late fee of up to $35.00 will be imposed whenever the mini-

In your letter, give us the following information:

mum monthly payment is not received on or before the due date. Late fees will 
be posted on the statement, on the due date.

g. Pay by Phone. If you choose to utilize our Pay by Phone service, you will be 

assessed a $10.00 fee. The fee will not be assessed if payment is made using 
an automated voice response system.

13. PAYMENT SKIPS. From time to time, solely at our option, we may allow you 
to skip one or more monthly payments. We will notify you when this option is 
available. If you skip a payment, Finance Charges (and credit protection fees, 
if any) will continue to accrue on your Account balance in accordance with this 
Agreement. The requirement that you make the Minimum Payment due each 
month will resume following the payment skip.

14. 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.

15. 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 collec-
tions, you agree to pay all attorneys’ fees and court costs, which will be added to 
the outstanding balance of your account.

16. DEFAULT. You will be in default under this Agreement if any of the following 
occur: (a) Any Minimum 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 payable, and you agree to pay that amount plus any attor-
ney’s fees and costs incurred by us. We can delay enforcing 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. In the event your Account car-
ried any life/disability coverage, that coverage may be cancelled once the account 
reaches a 30 day delinquency status. 

17. 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 Oregon.

18. SEVERABILITY. If any provision of this Agreement is held invalid, the remain-
ing provisions that are severable shall remain in effect.

19. LOSS, THEFT OR UNAUTHORIZED USE OF CARD. You agree to use 
reasonable care to protect your card from loss or theft and notify us immediately 
of the loss, theft or unauthorized use of your Credit Card. Telephoning is the best 
way of minimizing possible losses. If you notify us of your lost or stolen Credit 
Card, you will not be liable for any losses under MasterCard’s Zero Liability 
Protection. You understand that the Protection does not apply to commercial 
credit cards, ATM transactions or PIN transactions. You understand you may be 
liable for the unauthorized use of your credit card for transactions not covered by 
MasterCard’s Zero Liability Protection. 

20. 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 pro-
vide us, at any time we deem necessary, with a current financial statement and/
or a new credit application upon request. We may investigate your credit directly 
or through a credit reporting agency. You are hereby notified that information 
about your Account that may have a negative impact on your credit record may 
be submitted to a credit reporting agency if you fail to fulfill the terms of your credit 
obligations. 

21. ACKNOWLEDGMENTS AND AMENDMENTS. 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 and the Fair 
Credit Billing Notice. We reserve the right to amend the terms of this Agreement 
at any time as permitted by and subject to any limitations and notice requirements 
of applicable law.

22. Your 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: Maps Credit Union, Attn: Customer Service, PO 
Box 31535 Tampa, FL 33631-3535

You may also contact us on the Web: maps@mapscu.com.

•  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 [or electronically]. 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 contin-

ue to charge you interest on that amount.

•  While you do not have to pay the amount in question, you are responsible 

for the remainder of your balance.

•  We can apply any unpaid amount against your credit limit.
•  After we finish our investigation, one of two things will happen:
• 

If we made a mistake: You will not have to pay the amount in question or 
any interest or other fees related to that amount.
If we do not believe there was a mistake: You will have to pay the amount 
in question, along with applicable interest and fees. We will send you a 
statement of the amount you owe and the date payment is due. We may 
then report you as delinquent if you do not pay the amount we think you 
owe.

• 

If you receive our explanation but still believe your bill is wrong, you must write 
to us within 10 days telling us that you still refuse to pay. If you do so, we cannot 
report you as delinquent without also reporting that you are questioning your bill. 
We must tell you the name of anyone to whom we reported you as delinquent, 
and we must let those organizations know when the matter has been settled 
between us.

If we do not follow all of the rules above, you do not have to pay the first $50 of 
the amount you question even if your bill is correct.

Your Rights If You Are Dissatisfied With Your Credit Card Purchases. If you are 
dissatisfied with the goods or services that you have purchased with your credit 
card, and you have tried in good faith to correct the problem with the merchant, 
you may have the right not to pay the remaining amount due on the purchase.

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 ad-
dress, and the purchase price must have been more than $50. (NOTE: Neither of 
these are necessary if your purchase was based on an advertisement we mailed 
to you, or if we own the company that sold you the goods or services.) 2. You 
must have used your credit card for the purchase. Purchases made with cash 
advances from an ATM or with a check that accesses your credit card account do 
not qualify. 3. You must not yet have fully paid for the purchase.

If all of the criteria above are met and you are still dissatisfied with the purchase, 
contact us in writing at: Maps Credit Union, Attn: Customer Service, PO Box 
31535 Tampa, FL 33631-3535. While we investigate, the same rules apply 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.

23. SPECIAL RULE FOR CREDIT CARD PURCHASES. 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:

•  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

•  The purchase price must have been more than $50.00.These limitations 
do not apply if we own or operate the merchant, or if we mailed you the 
advertisement for the property or services.

PRICING INFORMATION ADDENDUM

4/1/16

INTEREST RATES AND INTEREST CHARGES

FEES

Annual Percentage 
Rate (APR) for  
Purchases &  
Balance Transfers

8.50% - 18.00% 
When you open your account, the applicable APR is based on credit qualifications.  
This APR will vary with the marketing based on the Prime Rate.

APR for Cash  

Advances  13.50% - 23.00% 

This APR will vary with the market based on the Prime Rate.

Paying Interest 

Your due date is 25 days after the close of each billing cycle. We will not charge you any interest on the 
portion of the purchases balance that you pay by the due date each month. We will begin charging interest 
on cash advances on the transaction date.

For Credit Card Tips 
from the Consumer 
Financial Protection 
Bureau

To learn more about factors to consider when applying for or using a credit card, visit the website of the 
Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore.

Annual Fee: $49*, waived the first year, and 
waived thereafter if $10,000 in annual purchases

Balance Transfer Fee: None

Transaction Fees:

Cash Advance Fee: 3% of cash advance  
$5.00 minimum / No maximum

Penalty Fees

Late Payment Fee: up to $35

Returned Payment Fee: up to $20

Card Replacement Fee: up to $5

Other Fees

Foreign Transaction Fee: Waived 

How we will calculate your balance: We use a method called “average daily balance” (including new purchases).  
Variable rates are based on the prime rate plus a factor of 5.5%–9.5% (10.5%–14.5% for cash advances), depending on credit qualifications. Variable rates may change quarterly.  
We reserve the right to amend the Credit Card Agreement as permitted by law. The above rates and fees are current as of April 1, 2016.