CREDIT LINE ACCOUNT AGREEMENT
Heritage
AND FEDERAL DISCLOSURE STATEMENT
Federal
UNION
THIS IS YOUR CREDIT LINE ACCOUNT AGREEMENT AND IT INCLUDES NECESSARY FEDERAL
P.O. Box 189
Newburgh, IN 47629-0189
TRUTH-IN-LENDING DISCLOSURE STATEMENTS, MY CHOICE VISA AND MY PREFERRED VISA
(812) 253-MYCU (6928) (phone)
AGREEMENTS, AND ANY SPECIAL INSTRUCTIONS REGARDING THE USE OF YOUR MY CHOICE VISA
(270) 830-8233 (phone)
AND MY PREFERRED VISA CREDIT CARDS, AND/OR ANY OTHER ACCOUNT ACCESS DEVICE.
(812) 853-1749 (fax)
PLEASE BE CERTAIN TO READ THIS AGREEMENT CAREFULLY AND NOTIFY US AT ONCE IF ANY
PARTS ARE UNCLEAR.
Interest Rate and Interest Charges
Annual Percentage Rate
My Choice VISA:
%.
(APR) For Purchases
This APR will vary with the market based on the Prime Rate.
My Choice Plus VISA:
%.
This APR will vary with the market based on the Prime Rate.
My Choice Secured VISA:
%.
This APR will vary with the market based on the Prime Rate.
My Choice Plus Secured VISA:
%.
This APR will vary with the market based on the Prime Rate.
My Preferred VISA:
%.
This APR will vary with the market based on the Prime Rate.
My Preferred Plus VISA:
%.
This APR will vary with the market based on the Prime Rate.
Annual Percentage Rate
My Choice VISA:
%.
(APR) For Balance
This APR will vary with the market based on the Prime Rate.
Transfers
My Choice Plus VISA:
%.
This APR will vary with the market based on the Prime Rate.
My Choice Secured VISA:
%.
This APR will vary with the market based on the Prime Rate.
My Choice Plus Secured VISA:
%.
This APR will vary with the market based on the Prime Rate.
My Preferred VISA:
%.
This APR will vary with the market based on the Prime Rate.
My Preferred Plus VISA:
%.
This APR will vary with the market based on the Prime Rate.
SEE PAGE 2 for more important information about Your Account
Copyright Oak Tree Business Systems, Inc., 2013-2020. All Rights Reserved.
Page 1 of 6
OTBS 016YCC HFCU (2/20)
Interest Rate and Interest Charges (continued)
Annual Percentage Rate
My Choice VISA:
%
(APR) For Cash Advances
This APR will vary with the market based on the Prime Rate.
My Choice Plus VISA:
%
This APR will vary with the market based on the Prime Rate.
My Choice Secured VISA:
%.
This APR will vary with the market based on the Prime Rate.
My Choice Plus Secured VISA:
%.
This APR will vary with the market based on the Prime Rate.
My Preferred VISA:
%
This APR will vary with the market based on the Prime Rate.
My Preferred Plus VISA:
%
This APR will vary with the market based on the Prime Rate.
Consumer Line of Credit:
%
Penalty APR And When
18.00%
it Applies
This APR may be applied to Your VISA Feature Category if:
1) You make a late payment.
How Long Will The Penalty APR Apply? If Your APRs are increased for this reason, the
Penalty APR applied to transactions that occur after the increase may be applied
indefinitely. For transactions that occurred prior to the effective date of the increase, the
increase will apply indefinitely unless 6 consecutive payments are received on or before
the due date during the six-month period following such increase.
Paying Interest
For VISA, We will not charge You interest on purchases if You pay Your entire balance owed
each month within 25 days of Your statement closing date. For all Feature Categories, We will
begin charging interest on balance transfers and cash advances on the transaction date.
For Credit Card Tips from
To learn more about factors to consider when applying for or using a Credit Card,
the Consumer Financial
visit the website of the Consumer Financial Protection Bureau at
Protection Bureau
http://www.consumerfinance.gov/learnmore
Fees
Transaction Fees
Overdraft Transfer
$5.00
Cash Advance
For VISA, up to 2.00% of each advance ($10.00 minimum).
Balance Transfer
For VISA, up to 4.00% of each transfer ($10.00 minimum).
Foreign Transaction
For VISA, 1.00% of each foreign currency transaction in U.S. dollars.
For VISA, 1.00% of each U.S. Dollar transaction that occurs in a foreign country.
Penalty Fees
Late Payment
For VISA, up to $25.00.
For Consumer Line of Credit, 5.00% of the payment ($13.00 maximum).
Returned Payment
For VISA, up to $30.00.
For Consumer Line of Credit, $30.00.
How We Will Calculate Your Balance: For VISA, We use a method called "average daily balance (including new purchases)"
For Consumer Line of Credit, We use a method called "daily balance." See Your Account Agreement for details
Billing Rights: Information on Your rights to dispute transactions and how to exercise those rights is provided in Your
Account Agreement.
SEE PAGE 1 for more important information about Your Account
Copyright Oak Tree Business Systems, Inc., 2013-2020. All Rights Reserved.
Page 2 of 6
OTBS 016YCC HFCU (2/20)
In this Agreement, the reference to "We," "Us," "Our" and "Credit Union" mean HERITAGE FEDERAL CREDIT UNION. The words "You" and "Your" mean each
person accepting this Agreement. If this is a joint Account, read singular pronouns in the plural. The words "Card" and "Credit Card" mean any My Choice
VISA,
My
Choice Plus VISA, My Choice Secured VISA, My Choice Plus Secured VISA, My Preferred VISA or My Preferred Plus VISA Credit Card issued to You by Us and
any duplicates or renewals. "Convenience Checks" mean the special Account access devices that We may provide for Your use from time to time.
You, as the Borrower, under a Credit Line Account ("Account"), understand that the following Federal Disclosure Statement and the terms and conditions found
herein constitute Our Agreement with You. You may request advances on Your Account through a variety of means which could include (but may not be limited to)
telephonic requests, advance request forms, vouchers, checks, charge slips, Convenience Checks, debit cards, ATM cards, Credit Cards, wire transfers, direct
transfers and/or wire transfers to specific payees identified by You, direct transfers to Your share/share draft or other Credit Union account and the like. Regardless
of the means by which any advance is made, You promise to pay Us all amounts charged to Your Account by You or by any user who has access to Your Account,
with actual, apparent or implied authority for use of Your Account, including Finance Charges and other fees or charges described herein.
FEATURE CATEGORIES. Your Account has Feature Categories which may include Consumer Line of Credit (including Overdraft Protection), My Choice VISA, My
Choice Plus VISA, My Choice Secured VISA, My Choice Plus Secured VISA, My Preferred VISA and My Preferred Plus VISA.
Variable Rate
Daily Periodic
Feature Category
Annual Percentage
Index
Margin
Rate
Rate
My Choice VISA
%
%
My Choice Plus VISA
%
%
My Choice Secured VISA
%
%
My Choice Secured Plus VISA
%
%
My Preferred VISA
%
%
My Preferred Plus VISA
%
%
Consumer Line of Credit
%
%
ADVANCES. Whenever You request a transaction, We may require You to
JOINT ACCOUNTS. Each Borrower will be responsible, jointly and severally, for
prove Your identity. Advances made on Your Account will be processed
the repayment of any amounts owed. If any Account access device, such as a
according to the instructions You give Us (such as by wire transfer, direct transfer
Personal Identification Number (PIN) is requested and approved, You
to Your Credit Union account or by other such means) and You authorize Us to
understand that any such Account access device(s) will be mailed only to the
do this, or We may draw a draft or check made payable to You and mail it to
primary Borrower at the address that We have on file for You. We may refuse to
You. When the amount advanced appears on a subsequent statement, that will
follow any instructions which run counter to this provision.
be conclusive evidence of Your advance request unless You notify Us that You
disagree with any such item appearing on Your periodic statement according to
MINIMUM MONTHLY PAYMENTS (PAYMENT SCHEDULE). Though You
the provision of this Agreement titled "Your Billing Rights: Keep this Document
need only pay the Minimum Monthly Payments, You understand that You
for Future Use."
have the right to repay at any time without penalty. You also understand that
You will only be charged periodic Finance Charges to the date You repay
SECURITY. As permitted by law, to secure all transactions under this Agreement
Your entire balance. You may make larger payments without penalty. Any
in either joint or individual Accounts, We have the right to impress and enforce a
partial payment or prepayment will not delay Your next scheduled payment.
statutory lien against Your shares on deposit with Us (other than those deposits
All payments to Us must be in lawful money of the United States. We may
established under a governmental approved tax deferral plan such as an IRA or
apply each payment to whichever Feature Category We wish. For all Feature
Keogh account), and any dividends due or to become due to You from Us to the
Categories (except VISA), payments will be applied first to any Late Charges
extent that You owe on any unpaid balance on Your Account and We may
owing, then to the Finance Charge due, then to the outstanding principal
enforce Our right to do so without further notice to You. Additionally, You agree
balance. To the extent permitted by law, We may apply VISA payments in
that We may set-off any mutual indebtedness.
an order of Our choosing. Any unpaid portion of the Finance Charge will be
paid by subsequent payments and will not be added to Your principal
OTHER SECURITY. Collateral (other than household goods or any dwelling)
balance. You understand that any delay in the repayment of Your unpaid
given as security for any other loan You may have with Us will secure
balance will increase Your periodic Finance Charges and any acceleration
all amounts You owe Us now and in the future if that status is reflected in
in the repayment of Your unpaid balance will decrease Your periodic
Finance Charges.
the "Truth-in-Lending Disclosure" in any particular Agreement evidencing
such debt.
Consumer Line of Credit Minimum Monthly Payments will be established at the
close of each billing cycle at an amount equal to 3.00% of Your then outstanding
CONSENSUAL LIEN ON SHARES. If You have been issued a Credit Card,
principal balance, subject to the lesser of $15.00 or Your balance, plus any
ATM card or debit card, You grant and consent to a lien on Your shares
portion of the Minimum Payments shown on prior statement(s) which remains
with Us (except for IRA and Keogh accounts) and any dividends due or
unpaid, plus any amount that exceeds Your approved Credit Limit.
to become due to You from Us to the extent You owe on any unpaid
Credit Card balance and/or unpaid Consumer Line of Credit Balance
My Choice VISA, My Choice Plus VISA, My Choice Secured VISA, My Choice
created through the use of Your ATM card or debit card.
Plus Secured VISA, My Preferred VISA and My Preferred Plus VISA Minimum
Payments will be an amount equal to 3.00% of Your new unpaid balance at the
LINE OF CREDIT LIMITS. You will be notified of each specific Credit Limit for
end of each billing cycle, subject to the lesser of $25.00 or Your balance, plus
each Feature Category for which You are approved. Unless You are in default,
any portion of the Minimum Payments shown on prior statement(s) which
any Credit Limits established for You will generally be self-replenishing as You
remains unpaid, plus any amount that exceeds Your approved Credit Limit.
make payments.
If You make a payment by 5:00 p.m. central time, We will consider that day to
You will keep Your unpaid balance within Your Credit Limit set by Us, and You
be the day of Your payment. However, if You make a payment after 5:00 p.m.
will pay any amount over Your Credit Limit on Our demand whether or not We
central time, We will consider that the payment was made on the next day.
authorize the advances which caused You to exceed Your Credit Limit. Even if
Your unpaid balance is less than Your Credit Limit, You will have no credit
You may, by separate agreement, authorize Us to charge Your payment directly
available during any time that any aspect of Your Account is in default.
to Your share or share draft account.
Copyright Oak Tree Business Systems, Inc., 2013-2020. All Rights Reserved.
Page 3 of 6
OTBS 016YCC HFCU (2/20)
LATE CHARGE (EXCEPT VISA). If Your payment is more than 10 days late,
PERIODIC STATEMENTS. On a regular basis, You will receive a statement
You will be charged the lesser of $13.00 or 5.00% of the payment due.
showing all transactions on Your Account including amounts paid and borrowed
since Your last statement. We will mail You a statement each month in which
OTHER FEES AND CHARGES (EXCEPT VISA). You will be charged the
there is a debit or credit balance or when a Finance Charge is imposed. We need
following fees associated with the use of Your Account: (a) $30.00 for any check
not send You a statement if We feel Your Account is uncollectible or if We have
(or other negotiable instrument used for payment) which is returned unpaid; and
started collection proceedings against You because You defaulted. EACH
(b) an overdraft transfer fee FINANCE CHARGE of $5.00 for each such advance.
STATEMENT IS DEEMED TO BE A CORRECT STATEMENT OF ACCOUNT
UNLESS YOU ESTABLISH A BILLING ERROR PURSUANT TO THE
FINANCE CHARGES (EXCEPT VISA). A Finance Charge will be assessed on
FEDERAL TRUTH-IN-LENDING ACT.
any unpaid principal balance for each Feature Category of Your Account for the
period such balance is outstanding. Balances change each time advances are
OUR RESPONSIBILITIES TO HONOR CONVENIENCE CHECKS. We are
made, payments are made or credits given under any Feature Category. The
under no obligation to honor Your Convenience Checks if: (1) by paying a
Finance Charge begins to accrue on the date of each advance and there is no
Convenience Check, You would exceed Your Credit Limit; (2) Your Cards or
grace period.
Convenience Checks have been reported lost or stolen; (3) Your Account has
been cancelled or has expired. If a postdated Convenience Check is paid and,
HOW TO DETERMINE THE FINANCE CHARGE (EXCEPT VISA). For all
as a result, any other Convenience Check is returned unpaid, We are not
Feature Categories (except VISA), the Finance Charge is determined by
responsible for any resulting loss or liability.
multiplying Your unpaid balance at the close of each day in the billing cycle
being accounted for by the applicable Daily Periodic Rate. The unpaid balance
DEFAULT. You will be in default if: (a) You do not make any payment or perform
is the balance each day after payments, credits, and unpaid Finance Charges to
any obligation under this Agreement, or any other agreement that You may have
that balance have been subtracted and any new advances or other charges have
with Us; or (b) You should die, become involved in any insolvency, receivership
been added to Your unpaid balance. These daily Finance Charges are then
or custodial proceeding brought by or against You; or (c) You have made a false
added together and the sum is the amount of the Finance Charge owed for the
or misleading statement in Your credit application and/or in Your representations
Feature Category being accounted for. The total Finance Charge You owe on
to Us while You owe money on Your Account; or (d) A judgment or tax lien should
Your Account for each billing cycle is the sum of all the Finance Charges due for
be filed against You or any attachment or garnishment should be issued against
all applicable Feature Categories.
any of Your property or rights, specifically including anyone starting an action or
proceeding to seize any of Your funds on deposit with Us; and/or (e) We should,
VISA FINANCE CHARGES. In the case of any transactions under Your My
in good faith, believe Your ability to repay Your indebtedness hereunder is or
Choice VISA or My Preferred VISA Feature Categories, the balances subject
soon will be impaired, time being of the very essence.
to the periodic Finance Charge are the average daily transactions balances
outstanding during the month (including new transactions). To get the average
Upon any occurrence of default, We may, to the extent permitted by law, cancel
daily balance, We take the beginning balance each day, add any new
Your rights under this Agreement, require the return of all access devices and
purchases, balance transfers, cash advances, debit adjustments or other
declare the entire balance of every Feature Category of Your Account
charges and subtract any payments, credits and unpaid Finance Charges.
immediately due and payable, without prior notice or demand.
This gives Us the daily balance. Then, We add up all the daily balances for the
billing cycle and divide them by the number of days in the billing cycle. The
COLLECTION COSTS. In the event collection efforts are required to obtain
Finance Charge for a billing cycle is computed by multiplying the average daily
payment on this Account, to the extent permitted by law, You agree to pay
balance subject to a Finance Charge by the Daily Periodic Rate times the
all court costs, private process server fees, investigation fees or other
number of days in the billing cycle.
costs incurred in collection and reasonable attorneys' fees incurred in the course
of collecting any amounts owed under this Agreement or in the recovery of
You can avoid Finance Charges on purchases by paying the full amount of the
any Collateral.
entire balance owed each month within 25 days of Your statement closing date.
Otherwise, the new balance of purchases, and subsequent purchases from the
ENFORCEMENT. We do not lose Our rights under this or any related agreement
date they are posted to Your Account, will be subject to a Finance Charge. Cash
if We delay enforcing them. We can accept late payments, partial payments or
advances and balance transfers are always subject to a Finance Charge from
any other payments, even if they are marked "paid in full" without losing any of
the later of the date they are posted to Your Account or from the first day of the
Our rights under this Agreement. If any provision of this or any related agreement
billing cycle in which the transaction is posted to Your Account.
is determined to be unenforceable or invalid, all other provisions remain in full
force and effect.
VISA VARIABLE RATE. Advances are subject to a Variable Rate which is
based on the highest Prime Rate as published in the Money Rates Section of
NOTIFICATION OF ADDRESS CHANGE. You will notify Us promptly if You
The Wall Street Journal in effect on the last day of each calendar month
move or otherwise have a change of address.
("Index") plus Our ("Margin"). The Index plus the Margin equals the Interest
Rate. Changes in the Index will cause changes in the Interest Rate on the 1st
CHANGE IN TERMS. We may change the terms of this Agreement by mailing
day of the billing cycle that immediately follows any such change in the Index.
or delivering to You written notice of the changes as prescribed by the Federal
Increases or decreases in the Interest Rate will result in like increases or
Truth-In-Lending Act. To the extent permitted by law, the right to change the
decreases in the Finance Charge and may affect the number of Your
terms of this Agreement includes, but is not limited to, the right to change the
scheduled payments. Your Interest Rate will never be greater than 18.00%
periodic rate applicable to Your unpaid balance and/or future advances.
and will apply to the remaining principal balance. If the Index becomes
unavailable, We may select another Index and Margin which would result in a
INTEGRATED DOCUMENTS. Any separate sheet of paper labeled "Additional
substantially similar Interest Rate.
Disclosure - Federal Truth-In-Lending Act," which is delivered together with
this Agreement or at a later date becomes an integrated part of this Agreement
VISA PENALTY RATE. If Your VISA Feature Category is more than 60 days past
And Disclosure.
due, subject to applicable law, the Daily Periodic Rate applicable to Your entire
balance of transactions existing at that time will become fixed and increase to
CONSENT TO AGREEMENT. You acknowledge receipt of a copy of this
0.049315% (corresponding ANNUAL PERCENTAGE RATE 18.00%). During the
Agreement. By signing the application; or by using Your Account or any Account
six month period following such an increase, if We receive the first six consecutive
access device; or by authorizing another to use Your Account, You agree to and
required minimum periodic payments when due, the rate applicable to the balance
accept its terms.
of transactions that occurred prior to such increase will be returned to the standard
rate that would have otherwise been in effect.
UPDATING AND DISCLOSING FINANCIAL INFORMATION. You will provide
facts to update information contained in Your original Account application
or
OVERDRAFT PROTECTION. We may transfer funds in multiples of $100.00 (or
other financial information related to You, at Our request. You also agree that
in such increments as We may from time to time determine) to Your share draft
We may, from time to time, as We deem necessary, make inquiries pertaining
account by an advance on Your Account, subject to this provision, to clear any
to Your employment, credit standing and financial responsibility in accordance
overdraft on Your share draft account. Whether or not such transfers occur will
with applicable laws and regulations. You further agree that We may give
be controlled by this Agreement. In any event, You hold Us harmless for any and
information about the status and payment history of Your Account to consumer
all liability which might otherwise arise if the transfer does not occur. Overdraft
credit reporting agencies, a prospective employer or insurer, or a state or
protection automatically ceases if this Agreement is ever cancelled or terminated
federal licensing agency having any apparent legitimate business need for
or Your Account is in default.
such information.
Copyright Oak Tree Business Systems, Inc., 2013-2020. All Rights Reserved.
Page 4 of 6
OTBS 016YCC HFCU (2/20)
TERMINATION. Either You or We may cancel Your Account or any particular
balance transfer fee FINANCE CHARGE in an amount equal to the greater of
Feature Category of Your Account, at any time, whether or not You are in default.
4.00% of each such balance transfer or $10.00.
You will, in any case, remain liable to pay any unpaid balances according to the
terms of Your Account.
LOST CARDS OR CONVENIENCE CHECKS. To report lost or stolen Credit
Cards or Convenience Checks, You will immediately call Us during regular
GOVERNING LAW. This Agreement is controlled and governed by the laws of
business hours at the telephone number shown in this Agreement, and after
the State of Indiana, except to the extent that such laws are inconsistent with
hours, on weekends and holidays at (855) 887-3938. You may also report lost
controlling federal law.
or stolen Credit Cards or Convenience Checks by writing to Us at the address
shown in this Agreement.
SPECIFIC TERMS APPLICABLE TO YOUR
MY CHOICE VISA, MY CHOICE PLUS VISA, MY CHOICE SECURED
CREDITS. If a merchant who honors Your Card gives You credit for returns or
VISA, MY CHOICE PLUS SECURED VISA, MY PREFERRED VISA
adjustments, they will do so by sending Us a slip which will be posted to Your
AND MY PREFERRED PLUS VISA CREDIT CARDS
Account. If Your credits and payments exceed what You owe Us, We will hold
and apply this credit against future purchases and cash advances, or if it is $1.00
USE OF YOUR CARD. You may use Your Card to buy goods and services
or more refund it on Your written request or automatically deposit it to Your Share
in any place that it is honored and to get cash advances at participating
Account after six months.
financial institutions. You agree not to use Your Card for illegal transactions
including, but not limited to, advances made for the purpose of gambling
Your Billing Rights: Keep this Document for Future Use
and/or wagering where such practices are in violation of applicable state
and/or federal law.
This notice tells You about Your rights and Our responsibilities under the
Fair Credit Billing Act.
OWNERSHIP. Your Card remains Our property and may be cancelled by Us at
any time without notice. You agree to surrender Your Card and to discontinue its
What To Do If You Find A Mistake On Your Statement
use immediately upon Our request.
If You think there is an error on Your statement, write to Us at Our address shown
ISSUANCE OF A PERSONAL IDENTIFICATION NUMBER. We will issue, upon
in this Agreement. In Your letter, give Us the following information:
Your request, a Personal Identification Number (PIN) for use with participating
Automated Teller Machines (ATMs). This PIN is confidential and should not be
Account information: Your name and Account number.
disclosed to anyone. You may use Your PIN to access Your Account and all sums
Dollar amount: The dollar amount of the suspected error.
advanced will be added to Your Account balance. In the event a use of Your PIN
Description of problem: If You think there is an error on Your bill,
constitutes an Electronic Fund Transfer, the terms and conditions of Your
describe what You believe is wrong and why You believe it is a mistake.
Electronic Fund Transfer Agreement may also affect Your rights.
You must contact Us:
EFFECT OF AGREEMENT. Even though the sales, cash advance, credit or
other slips You may sign or receive when using Your Card contain terms, this
Within 60 days after the error appeared on Your statement.
Agreement is the contract which solely applies to all transactions involving
At least three business days before an automated payment is scheduled, if
the Card.
You want to stop payment on the amount You think is wrong.
UNAUTHORIZED USE. You may be liable for the unauthorized use of Your Card.
You must notify Us of any potential errors in writing. You may call Us, but if You
You will not be liable for the unauthorized use that occurs after You notify Us of the
do We are not required to investigate any potential errors and You may have to
loss, theft, or possible unauthorized use by calling Us during regular business
pay the amount in question.
hours at the telephone number shown in this Agreement, and after hours, on
weekends and holidays at (855)887-3938. You may also notify Us of the loss, theft,
What Will Happen After We Receive Your Letter
or possible unauthorized use by writing to Us at the address shown in this
Agreement. In any case, Your liability will not exceed $50.00.
When We receive Your letter, We must do two things:
REFUSAL TO HONOR CARDS OR CONVENIENCE CHECKS. We are not
1)
Within 30 days of receiving Your letter, We must tell You that We
liable for the refusal or inability of merchants, financial institutions and others to
received Your letter. We will also tell You if We have already corrected
accept the Cards or Convenience Checks, or electronic terminals to honor the
the error.
Cards or complete a Card withdrawal, or for their retention of the Cards or
2)
Within 90 days of receiving Your letter, We must either correct the error
Convenience Checks.
or explain to You why We believe the bill is correct.
FOREIGN TRANSACTIONS. For transactions initiated in foreign countries and
While We investigate whether or not there has been an error:
foreign currencies, the exchange rate between the transaction currency and the
billing currency (U.S. dollars) will be: (a) a rate selected by VISA from the range
We cannot try to collect the amount in question, or report You as
of rates available in wholesale currency markets for the applicable central
delinquent on that amount.
processing date, which rate may vary from the rate VISA itself receives; or (b)
The charge in question may remain on Your statement, and We may
the government-mandated rate in effect for the applicable central processing
continue to charge You interest on that amount.
date. For transactions that are initiated in a foreign currency, You will be charged
While You do not have to pay the amount in question, You are
1.00% of the final settlement amount. For transactions occurring in foreign
responsible for the remainder of Your balance.
countries and initiated in U.S. Dollars, You will be charged 1.00% of the final
We can apply any unpaid amount against Your Credit Limit.
settlement amount.
After We finish Our investigation, one of two things will happen:
TRANSACTION SLIPS. Your monthly statement will identify that merchant,
electronic terminal or financial institution at which transactions were made, but
If We made a mistake: You will not have to pay the amount in question
sales, cash advances, credit or other slips cannot be returned with the statement.
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
LATE CHARGE. If Your payment is one or more days late, You will be charged
amount in question, along with applicable interest and fees. We will
the lesser of: (a) $25.00; or (b) the amount of the minimum payment due.
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
OTHER FEES AND CHARGES. You will be charged the following fees
amount We think You owe.
associated with the use of Your Card: (a) the lesser of $30.00 or the required
minimum payment amount for the returned payment for any check (or other
If You receive Our explanation but still believe Your bill is wrong, You must
negotiable instrument used for payment) which is returned unpaid; (b) a cash
write to Us within 10 days telling Us that You still refuse to pay. If You do so,
advance fee FINANCE CHARGE in an amount equal to the greater of 2.00% of
We cannot report You as delinquent without also reporting that You are
each such advance or $10.00 - waived when obtained inside one of Our branch
questioning Your bill. We must tell You the name of anyone to whom We
locations; (c) an overdraft transfer fee FINANCE CHARGE of $5.00 for each
reported You as delinquent, and We must let those organizations know when
such advance; (d) $15.00 for each copy of a receipt that You request; and (e) a
the matter has been settled between Us. If We do not follow all of the rules
Copyright Oak Tree Business Systems, Inc., 2013-2020. All Rights Reserved.
Page 5 of 6
OTBS 016YCC HFCU (2/20)
above, You do not have to pay the first $50.00 of the amount You question
Your purchase was based on an advertisement We mailed to You, or if
even if Your bill is correct.
We own the company that sold You the goods or services.)
2)
You must have used Your Credit Card for the purchase. Purchases
Your Rights If You Are Dissatisfied With Your Credit Card Purchases
made with cash advances from an ATM or with a check that accesses
Your Credit Card account do not qualify.
If You are dissatisfied with the goods or services that You have purchased
3)
You must not yet have fully paid for the purchase.
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
If all of the criteria above are met and You are still dissatisfied with the purchase,
remaining amount due on the purchase. To use this right, all of the following
contact Us in writing at Our address shown in this Agreement.
must be true:
While We investigate, the same rules apply to the disputed amount as discussed
1)
The purchase must have been made in Your home state or within 100
above. After We finish Our investigation, We will tell You Our decision. At that
miles of Your current mailing address, and the purchase price must
point, if We think You owe an amount and You do not pay, We may report You
have been more than $50.00. (Note: Neither of these are necessary if
as delinquent.
Copyright Oak Tree Business Systems, Inc., 2013-2020. All Rights Reserved.
Page 6 of 6
OTBS 016YCC HFCU (2/20)