21. CURewards Local Rules & Conditions.  The limit on the number of points that can 
be earned on a Rewards card through the CURewards program is 7,000 in a calendar 
month and 35,000 in a calendar year.  Points accrue over four calendar years and expire 
on a ﬁ rst-in-ﬁ rst-out basis annually; i.e., points earned in calendar year one will expire as 
of the last business day of calendar year four.

22. Termination of Membership: Granting you a VISA Credit Card is conditioned upon 
your continued membership with the Credit Union.Discontinuation of your membership will 
result in termination and revocation of your VISA Credit Card privileges, requiring you to 
return all VISA Cards to the Credit Union and payment of the “ENTIRE BALANCE DUE” 
as identiﬁ ed in the above section.  In order to qualify for VISA Credit Card privileges, you 
must maintain a $5 balance in your Credit Union share account.

23. Joint Accounts and Co-Signers: If you are a co-signer or if this is a joint account, 
you agree to be individually and jointly responsible with the other borrower or borrowers. 
Each of you authorizes the other(s) to obtain advances and make purchases individually 
under this VISA Account. We do not have to notify you if payments on the account are 
not  made  by  the  other  borrower  on  time.  We  can  change  the  terms  of  payment  and 
release of any security without notifying you or releasing you from responsibility on this 
Agreement. If this is a joint account, upon request by any party to the account or upon 
our receipt of inconsistent instructions, we may, at our option and without notice to any 
other party, refuse any request for an advance or an increase in the credit limit amount, 
or refuse any other request with respect to the account.
Visa Platinum and Visa Platinum+Rewards

Annual Variable 
Percentage Rate - 
Personal
(for Purchases, 
Cash Advances and 
Balance Transfers)

Annual Variable 
Percentage Rate -
Business

Annual Fee

Method of Computing 
the Average Balance

Grace Period for 
Repayment of
Purchase Balance

Prime+5.75% to 
Prime+8.75% * 
4.90% Fixed APR intro 
rate for ﬁ rst 6 months. 

(based on annual review of credit worthiness)

Prime+8.75%

No Annual Fee for Visa Platinum. $25 Annual Fee 
for Platinum+Rewards, if eligible

Average Daily Balance (including new transactions)

You have 25 days to repay your balance in full before 
being charged a ﬁ nance charge for purchases or 
balance transfers. The grace period does not apply to 
cash advances and convenience checks.

Minimum Fee

$0.50

Transaction Fees

Rush Card Fee......$25
Cash Advance Transaction Fee**....2% or $2, 
whichever is greater, not to exceed $20
Late Payment Fee***......$25
Stop Payment Fee...........$25
Returned Payment Fee....$30

*Rate adjusts to highest Prime rate +5.75% to +8.75% (based on annual review of credit worthiness) 
as printed in the Wall Street Journal on the 15th of March, June, September & December. Rate 
ceiling 13% to 18% (based on credit worthiness). Contact us at 800.451.8373 or online at MHVFCU.
com for current rates. **Visa Convenience Checks are considered a cash advance.  ***A late fee 
is assessed 10 days after due date.
Rev. 06/2011

800.451.8373  •  www.MHVFCU.com

Visa Credit Card 
Agreement & Disclosure Statement
This Agreement and Disclosure sets forth the terms and conditions of the Mid-Hudson Valley 
Federal Credit Union VISA Credit Cards and contains important information and disclosures 
as required by law.  Please read it carefully.

In this Agreement and Disclosure, the words “you”, “your” and “yours” mean each and all of 
those who apply for, sign, or are authorized to use the VISA Credit Card. The words “we”, 
“us”, “our”, “MHV”, and “Credit Union” each mean Mid-Hudson Valley Federal Credit Union.  
By accepting and/or using the VISA Credit Card, or by you authorizing anyone else to use 
the VISA Credit Card, you agree to be bound by the terms and conditions of this Agreement 
and Disclosure.

1. Signing the Card. Card is not valid until it contains an authorized signature.

2. Credit Limit: We will establish your Credit Limit as the maximum principal amount of 
credit available to you under this Agreement, which we will provide  in writing. You agree not 
to request or obtain advances above your credit limit at any time. If you do it is a condition 
of default, subject to remedies stated below. You will pay any amounts which exceed the 
maximum limit upon demand. You understand that your Credit Limit can be increased and 
decreased by us at any time; however, you will be notiﬁ ed in writing.

3. Finance Charge. A ﬁ nance charge (interest) will be charged at the periodic rate per 
month on any outstanding balances. The ﬁ nance charge (interest) is calculated based on 
two balances for your account: purchases balance and cash advances balance. The ﬁ nance 
charge is based on the average daily balance in both cases. To compute the average daily 
balance for your account, we take the beginning purchases balance (or cash advance 
balance) in your account each day, add any new purchases (or cash advances), subtract 
payments or credits, which applied to that day’s purchases (or cash advances), as well 
as unpaid ﬁ nance charges from previous months (ﬁ nance charges are not included as 
part of your balance when determining the average daily balance). We then add up all 
the daily balances for Purchases; and for Cash Advances, for the billing cycle.  We divide 
those totals by the number of days in the billing cycle, thus we have the Average Daily 
Balance of Purchase and the Average Daily Balance of Cash Advances. Finance charges 
(interest) charged on the outstanding balance will be at the periodic rate per month on 
any outstanding balances that are not paid within the allowable grace period established 
by the Credit Union’s Board of Directors. The grace period applies only to purchases, not 
to cash advances. The minimum ﬁ nance charge is $.50.

4. Monthly Statement. At the end of each billing cycle (approximately monthly intervals), 
you will receive a monthly statement. You will not receive a statement if your account 
balance is below $1. Your monthly statement will show the previous balance, all purchases 
and advances during that monthly period, ﬁ nance charges, late charges (if any), new 
balance, minimum payment due, payment due date, periodic rate (percentage rate of 
ﬁ nance charge which is charged against the balance for that period), and the annual 
percentage rate (which is the annual cost of credit in percentage terms).

5. Purchases and Advances. You can use your card to make purchases from any business 
which honors the card. Using your card and Personal Identiﬁ cation Number (PIN) you can 
get cash advances from any bank that accepts the card and from participating ATM’s. 
You may also make an advance by using any other service that may be offered through 
your credit union checking or savings account that allows you to take advances on this 
account. For advances through electronic access devices like an ATM and for purchases, 
there may be a limit for each transaction or a daily limit. Convenience checks are posted 
to your account as cash advances. We are not responsible for the refusal of any plan 
merchant or ﬁ nancial institution to honor your card.
                                                      M-104166 

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6. Minimum Payment/Payment Allocation. The minimum payment is the larger of ten 
dollars or 1/60th of the total amount of purchases, advances and late charges. Payments 
over the minimum will be applied to the highest rate APR. Payments received by 5pm will 
be credited the same business day.

indicated the error or mistake. Please include the following information in your letter: 
• Your name and account number • The dollar amount of the suspected error
• Describe the error and your evaluation as to how the error may have occurred 
(describe the item in question if you are not sure why there is an error). 

7.  Lost  or  Stolen  Cards.  If  your  card,  personal  identiﬁ cation  number  or  both
are lost or stolen, or are being used without your authorization, immediately notify Visa 
Security directly at 1.800.449.7728. IF YOUR CARD IS RETURNED, DISCONTINUE 
USE AS YOU WILL BE PROVIDED WITH A REPLACEMENT CARD. If your card is used 
by an unauthorized person, you will have no liability if you notify us of any unauthorized 
charge(s) in writing within a 60-day period following the closing date of the statement on 
which the charges appear. Funds will be refunded to you after you complete an Afﬁ davit 
of Forgery. However, the liability can be increased up to the limit if it is determined that 
you have handled your card fraudulently or were grossly negligent.

8. Default and Collection Cost.  You will be in default under this Agreement if any of the 
following events shall occur: (a) If you fail to comply with the minimum payment or any other 
terms or conditions of this Agreement or any other obligation you have or will have with us; 
(b) If you make false or misleading statements in any credit application or update of credit 
or membership information; (c) If you should die or become insolvent; (d) If a petition should 
be ﬁ led or other proceedings should be started under the Federal Bankruptcy Code or any 
State insolvency statute by or against you; (e) If a Receiver should be appointed or a writ 
or order of attachment, levy or garnishment should be issued against you or any of your 
property, assets or income; or (f) If we should consider yourself or any debts due under 
this Agreement unsafe or not completely secure or (g) if we should believe, in good faith, 
that the chances of your paying or performing all of your obligations under this Agreement 
have been impaired. The credit union may demand immediate payment of the full balance 
upon your failure to pay the minimum amount due on time or exceeding your credit limit 
without our permission. If the credit union asks that any amount owed be paid because 
one of the above events occurred, and the credit union refers the claim for collection to an 
attorney, you will be liable for any collection costs, including court costs and reasonable 
attorney fees. In accordance with the Fair Credit Billing Act, the Credit Union reserves 
the right to offset your depository account for delinquent payments. 

9.  Delay  in  Enforcement.  We  can  delay  enforcing  our  rights  under  this  agreement 
without losing them.

10.  Credit  Reports.  You  authorize  us  to  make  or  have  any  credit,  employment  and 
investigative inquiries as we deem appropriate for the extension of credit or collection 
of amounts owed on this account. We can furnish information concerning your account 
or credit ﬁ le to consumer reporting agencies and others who may properly receive that 
information.

We may request an updated credit report/credit score for purposes of determining your 
annual percentage rate. We may report information about your account to credit bureaus. 
If you fail to fulﬁ ll the terms of this Agreement, including making late payments, missing 
payments, or other default on your account, a negative report reﬂ ecting on your credit 
record may be submitted to a credit reporting agency.

11. Amendment  of Agreement/Right  to  Cancel.  We  can  change  this  agreement  at 
any time. However, if we do, we will mail you a written notice at least 45 days before the 
onset of your billing cycle, in which the changes become effective. If you do not agree 
with the changes, you must notify us in writing and return your card, cut in half, within 45 
days. Upon receipt of the pre-mentioned articles, you must also pay the balance of your 
account under the terms of the prior agreement.

12. Disclosure of Account. Information to third parties: We will disclose information to 
third parties about your accounts (a) in order to verify the existence and condition of your 
account for a third party, such as a credit bureau; (b) in order to comply with a government 
agency or court order; and (c) if you give us your written permission.

13. Your Billing Rights. This notice contains information about your rights and our 
responsibilities under the Fair Credit Billing Act. 

Notify us in case of errors or questions about your bill. 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 the address listed on your statement as soon as possible. You must 
write us within 60 days after the statement closing date, on the ﬁ rst statement which 

If you have authorized us to pay your credit card bill from your savings or checking account, 
you can stop the payment on any account you think is wrong in writing received at least 
three business days before the automatic payment is scheduled to occur. 

Your Rights and Our Responsibilities After We Receive Your Written Notice. 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. 
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 any amount you question, including 
ﬁ nance 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 the bill that are not in question. If we made a mistake on your bill, you 
will not have to pay any ﬁ nance charge related to the questionable amount. If we didn’t 
make a mistake, you may have to pay ﬁ nance charges, and you will have to make up 
any missed payments on the questioned amount. You will receive a statement with the 
amount you owe and the due date. If you fail to pay the amount due, we may report you 
as delinquent. However, if the explanation still does not satisfy you, write to us within 10 
days explaining that you still refuse to pay, and we must tell you who your delinquency 
was reported to. If the matter is settled between us, we must inform anyone we reported 
your delinquency to that the matter has been settled. If we do not follow these rules, we 
cannot collect the ﬁ rst $50 of the questioned amount, even if your bill was correct.

14. Speciﬁ c Rule for Credit Card Purchases. If you have a problem with the quality 
of property or service 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 service. There are two limitations on this right: 
(a) You must have made the purchase within your home state, or 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 service.

15. Cancellations. You may cancel your account at any time by notifying us in writing 
and returning your card cut in half. However, you remain responsible to pay the unpaid 
balance with interest and any other charges according to the terms of the agreement. The 
credit union may cancel or suspend your card privileges at any time without prior notice. 
If we ask, you must cut your card in half and return it to the credit union.

16. Other Agreements.In addition to the provisions of this agreement, use of your credit 
card is subject to other terms, conditions and disclosures of the Mid-Hudson Valley Federal 
Credit Union accounts that  may be used.

17. Applicable Law. The relationship between you and the credit union is controlled by 
New York State and the National Credit Union Administration Rules and Regulations.

18.  International  Currency  Conversion/Travel.  The  exchange  rate  for  international 
transactions will be a rate selected by Visa from the range of rates available in wholesale 
currency markets, which may vary from the rate Visa itself receives, or the government-
mandated rate in effect for the applicable central processing date, plus 1%. Please contact 
us before traveling abroad as some restrictions may apply in foreign countries. 

19. Secured VISA Cards.Should your VISA card be approved based on pledging security  
in your share account, you agree to maintain said amount of credit limit plus 10% in a 
deposit account to secure it in addition to the $5 minimum balance required to maintain 
your membership status.  The credit union will freeze said share amount required to secure 
your VISA and will only consider releasing the frozen amount based on an updated credit 
decision.  Should the security hold be released, your APR may increase.  Should you 
become delinquent on your secured VISA, you agree to allow the credit union to offset 
your balance with said share amount.  

20. Illegal Transactions. You may not use the Card for any illegal or unlawful transaction, 
and we may decline to authorize any transaction that we believe poses an undue risk of 
illegality or unlawfulness.

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