Visa Credit Card Account Agreement 

You grant us a security interest in all your shares and deposits, 
present and future, and all accounts with the Credit Union (ex-
cept Individual Retirement Accounts) to secure your Account. 
This security interest is required as a condition for us to grant 
you credit under this Agreement. 

This Visa Account Agreement (“Agreement”) and the Account Dis-
closures  (“Account  Disclosure”)  given  to  you  when  you  opened 
your  Card  account  (“Account”)  will  govern  your  Visa  Credit  Card 
and Account issued by Cyprus Credit Union (“Credit Union”). In this 
Agreement, the words "you," "your," "yours," "applicant," and "Bor-
rower" 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 Cyprus 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  ac-
cepted 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  financial  institutions,  to  initiate  a  balance  transfer 
payment on another account, and to access your line of credit at 
automatic teller machines (“ATMs”) within the Visa network or any 
other ATMs that accept Visa branded cards.  
3. Credit Line 
If we approve your application, this Agreement will constitute a re-
volving 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. Obtaining 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 sep-
arate 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 discretion, with-
out 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 termi-
nate this Agreement or if we terminate or suspend your credit privi-
leges, 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  send  you  a  statement  every  month  if  your  Account has  a 
balance. You agree that you will pay each month not less than the 

P.O. Box 9002 
West Jordan, UT 84084 
Phone:  (801) 260-7600 
Toll Free:  (800) 929-7787 
www.cypruscu.com 

minimum monthly payment on or before the closing date. The mini-
mum monthly payment will be the larger of:  (a) 2.5% of your out-
standing balance shown on your statement (“New Balance”), or $25. 
If your outstanding balance is less than $25, 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 accrued interest, then to any fees, 
charges, or other amounts owed under this Agreement, and the re-
mainder to principal.  The minimum monthly payment may be allo-
cated 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 
monthly payment will be allocated first to higher rate balances, as 
applicable.  
Payments received at:  PO Box 9002, West Jordan, UT 84084 on or 
before 5:00 PM Mountain 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  Mountain  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 grant us a 
purchase  money  security  interest  under  the  Uniform  Commercial 
Code of the state in which you reside  in any goods you purchase 
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 grant us a security interest in all your shares and deposits, pre-
sent and future, and all accounts (except Individual Retirement Ac-
counts 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 collateral securing 
other loans with the Credit Union (except loans secured by real 
property) also secures this Account. 
6.   Periodic Statements 
Each month, if you have an outstanding balance, we will send you a 
statement showing new purchases, cash advances, payments, and 
credits made to your Account 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 advance, 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 an Interest 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 an 
Interest Charge on cash advances and balance transfers from the 
date of each transaction. There is no time period within which to pay 

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CCD • 05-10-21  • 1  

 
 
 
 
 
Cyprus Credit Union  Visa Credit Card Agreement 

to  avoid  a  periodic  Interest  Charge  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 por-
tion of purchases included in the New Balance that is not paid by 
the due date. This “grace period” allows you to avoid an  Interest 
Charge on purchases for a billing period. However, if you do not 
pay the New Balance for purchases within the grace period, your 
Interest Charge  will  accrue  on  any  unpaid  purchase  transactions 
from the first day of the billing period in which the payment is due. 
8.  Method Used to Determine the Balance on 

Which the Interest Charge May Be Computed 
and Amount of Interest Charge   

The Credit Union figures the Interest Charge on your Account by 
multiplying  the  "Average  Daily  Balance"  of  purchases,  balance 
transfers, and cash advances for your Account (including current 
transactions) by the Daily Periodic Rate, multiplied by the number 
of days in the billing period. 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 cred-
its, 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 Daily 
Periodic Rate, we divide the Annual Percentage Rate in effect for 
the billing period by 365. 
9.  Periodic Rate and Corresponding Annual 

Percentage Rate 

a. Standard Rates. The Periodic Rate and corresponding Annual 
Percentage Rate(s) used to compute the Interest Charge are set 
forth in the Account Disclosure that accompanies, and is a part of, 
this Agreement. The Annual Percentage Rate is divided by 365 to 
obtain the Daily Periodic Rate. Your Annual Percentage Rate for 
purchases and balance transfers may change based on an index, 
which  is  the  highest  Prime  Rate  published  in  The  Wall  Street 
Journal. The Annual Percentage Rate will change on the first day 
of each month, based on the index rate as of  the last day of the 
previous  month.   To determine  the  Annual  Percentage  Rate,  we 
add  a  margin  to  the  index.  The  amount  of  the  margin  for  your 
account is based on your credit profile and will be disclosed on the 
Account  Disclosure  that  accompanies,  and  is  a  part  of,  this 
Agreement. The Annual Percentage Rate will never be more than 
18.00%.  Changes  in  the  Annual  Percentage  Rate  will  affect  the 
number of payments you make.  
b. Introductory or Promotional Rates. At our discretion, we may 
offer you an introductory or promotional Annual Percentage Rate 
introductory  or  promotional  Annual 
for  your  Account.  Any 
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. 
All fees and charges will be added to your purchase balance and will 
accrue interest charges  at  the  same  rate  that  applies  to your  pur-
chase balance. 
a. Late Fee. If your payment is not received within 10 days after its 
due date, you will pay a late fee  equal to five percent (5%) of the 
payment amount,  or  $25,  whichever  is  greater,  but  not  more  than 
$29.    
b. ATM Fee. If you use an ATM to obtain a cash advance and the 
ATM is not operated by us, you may be charged an ATM surcharge 
by  the  ATM  operator  or  an  ATM  network  utilized  for  such  a 

transaction. The ATM surcharge may be charged to your Account if 
you complete the transaction. 
c. Card Replacement Fee. For each replacement card you request, 
you will pay a fee of $10.   
d.  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 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 bal-
ance and will bear interest at the Annual Percentage Rate in effect 
at that time. 
11. Conditions of Card Use 
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.  Pur-
chases and cash advances made in foreign countries will be billed 
to you in U.S. dollars. The currency conversion rate for international 
transactions is a rate selected by Visa from the range of rates avail-
able  in  wholesale  currency  markets  for  the  applicable  central  pro-
cessing 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 as set forth in the Account Disclosure for any card 
transaction  at  a  location  in  a  foreign  country  or  with  a  merchant 
located in a foreign country even if you initiate the transaction from 
within the United States. 
e. Notices and Payments. All notices will be sent to the address 
you have provided us. You agree to advise us promptly in writing if 
you change your address. All payments mailed to us should be sent 
to  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 may also be made through our 
online banking service or by other electronic means as we permit.  
Written notices and inquiries to us must be sent to: 
Cyprus Credit Union  
P.O. Box 9002 
West Jordan, UT 84084 

f. Personal Identification Number. If we issue you a Personal Iden-
tification Number ("PIN") for use with your Card in accessing your 
line of credit at ATMs, these numbers are issued to you for your se-
curity 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 

© 2021 Farleigh Wada Witt. All Rights Reserved. This document may not be reproduced without written permission from Farleigh Wada Witt. 

CCD • 05-10-21 • 2 

 
 
 
Cyprus Credit Union  Visa Credit Card Agreement 

to anyone not authorized to sign on your Account. To keep your Ac-
count 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. However, you may purchase any loan protec-
tion available through us and have the monthly fee added to your 
outstanding balance as purchases. If you elect to do so, we will give 
you the necessary disclosures and documents separately. 
13. 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 as set forth in Section 10 above, including fees 
and  costs in  any  appeal  or  bankruptcy  proceeding.  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. 
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 Utah. 
15. Severability 
If any provision of this Agreement is held invalid, the remaining pro-
visions 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 unauthor-
ized  use  of  your  card.  You  will  not  be  liable  for  unauthorized  use 
which occurs after you notify:  Cyprus Credit Union, P.O. Box 9002, 
West Jordan, UT 84084, Telephone: (800) 929-7787 (or 801-260-
7675 after hours), orally or in writing of loss, theft, or possible unau-
thorized use. In any case, your liability shall not exceed $50. 
17. Credit Information/Financial Statements 
You  authorize  us  to  release  information  to  others  (e.g.,  credit  bu-
reaus, merchants, and other financial institutions) regarding the sta-
tus 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. Rewards Benefits.   
We may offer rewards benefits in conjunction with some cards is-
sued under this Agreement.  Rewards benefits are subject to terms 
and conditions issued separately, and may be amended or termi-
nated at any time.   
20. 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:  Cyprus Credit 
Union, P.O. Box 9002, West Jordan, UT 84084. 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 al-
ready 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 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 re-
porting  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 set-
tled 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 pur-
chased with your credit card, and you have tried in good faith to cor-
rect 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 pur-
chase 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. Pur-
chases  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 the above address. While we 
investigate,  the  same  rules  apply  to  the  disputed  amount  as  dis-
cussed 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. 

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CCD • 05-10-21 • 3 

Cyprus Credit Union  Visa Credit Card Agreement 

NOTICE  TO  ACTIVE  DUTY  MILITARY  MEMBERS  AND 
THEIR DEPENDENTS 
This notice applies to any borrower who is either: (i) a member of the 
Armed Forces who is currently serving on active duty (under a call 
or  order  not  less  than  30  days),  Active  Guard  or  Reserve  duty 
(“Covered Member”); or (ii) is a dependent of the Covered Member. 
Military Annual Percentage Rate. Federal law provides important 
protections to members of the Armed Forces and their dependents 
relating  to  extensions  of  consumer credit.  In  general,  the  cost  of 
consumer credit to a member of the Armed Forces and his or her 
dependent may not exceed an annual percentage rate of 36%. This 
rate  must  include,  as  applicable  to  the  credit  transaction  or 
account:    the  costs  associated  with  credit  insurance  premiums; 
fees  for  ancillary  products  sold  in  connection  with  the  credit 
transaction;  any  application  fee  charged  (other  than  certain 
application fees for a credit card account); and any participation fee 
charged  (other  than  certain  participation  fees  for  a  credit  card 
account).  The  Credit  Union  may  adjust  interest  or  fees  as 
necessary  in  any  month  in  order  to  ensure  that  the  annual 
percentage rate does not exceed 36%.  
Payment Obligation. Your payment obligation under your Credit 
Card  Account  is  set  forth  in  the  Minimum  Monthly  Payment 
provision (Section 4) of the Credit Card Agreement. 

Security Interest. The Credit Union’s security interest in all your 
Credit  Union  shares  or  deposits  pursuant  to  the  Credit  Card 
Agreement  will  not  apply  your  Credit  Card  Account.  A  security 
interest in shares or deposits granted in connection with any other 
credit card account, loan or line of credit does not secure the Credit 
Card  Account  identified  above,  in  spite  of  any  provision  that 
collateral securing one loan secures all of your other Credit Union 
obligations. However, if you establish a deposit or share account 
specifically  in  connection  with  your  Credit  Card  Account,  funds 
deposited  in  that  account  after  you  establish  the  Credit  Card 
Account are subject to our security interest as set forth above in 
the Credit Card Agreement. 
Credit Union Toll-Free Telephone Number. Call (800) 929-7787 
for verbal information about the Military Annual Percentage Rate 
and your payment obligation. 

21. Acknowledgment 
You understand and agree to the terms and conditions in this Agree-
ment 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 Agreement is a final expression of 
the agreement between you and the Credit Union. 

© 2021 Farleigh Wada Witt. All Rights Reserved. This document may not be reproduced without written permission from Farleigh Wada Witt. 

CCD • 05-10-21 • 4