VISA Gold Disclosure 

Interest Rates and Interest Charges 
Annual Percentage Rate 
(APR) for Purchases 

6.25% 

APR for Balance Transfers 

6.25% 

APR for Cash Advances 

6.25% 

This APR will vary with the market based on the Prime Rate. 

This APR will vary with the market based on the Prime Rate. 

This APR will vary with the market based on the Prime Rate. 

Penalty APR and When it 
Applies 
Paying Interest 

Minimum Interest Charge 
For Credit Card Tips from 
the Federal Reserve Board 

None 

Your due date is at least 25 days after the close of each billing cycle.  We 
will not charge you any interest on purchases if you pay your entire 
balance by the dues date each month. We will begin charging interest on 
cash advances and balance transfers on the transaction date. 
None 
To learn more about factors to consider when applying for or using a 
credit card, visit the website of the Federal Reserve Board at 
http://www.federalreserve.gov/creditcard 

Fees 
Annual Fee 
Transaction Fees 

None 

  Balance Transfer 
  Cash Advance 
  Foreign Transaction 

  None 
  None 
  None 

Penalty Fees 

  Late Payment 
  Over-the-Credit-Limit 
  Returned Payment 

  $10.00 
  None 
  $30.00 

Other Fees 

None 

How We Will Calculate Your Balance: We use a method called “average daily balance (including new 
purchases).” See your cardholder agreement for more details. 

Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is 
provided in your cardholder agreement.  

Revised January 18, 2012 

 
 
 
 
 
 
 
 
 
 
 
 
Educators Credit Union: VISA/MasterCard Cardholder Agreement  

This Agreement covers your credit card account with us, Educators Credit Union. The person (“Account Holder” or 
“You”) whose name is embossed on the face of the VISA/MasterCard credit card (“Card”) provided to Account 
Holder and issued by us and each Account Holder, by signing and using the Card, agrees with Issuer to the 
following terms:  

1. Your Account: If you have a joint account, each Account Holder has the right to use the account up to the 
extended credit limit as described below. Each Account Holder is bound by these terms and each, individually, will 
be liable for all charges, even in only one of you uses the account. For joint accounts, each individual separately, 
and both individuals together, referred to this Agreement as (“You”).  

2. Credit Card Account Services: These services are available through your Card account up to the amount of your 
credit limit.  
a. Credit Purchases: You can use your account to purchase goods and services wherever VISA/MasterCard are 
accepted (referred to in this Agreement as “Credit Purchases”).  
b. Cash Advances: You can get a Cash Advance (referred to in this Agreement as a “Cash Advance”) from your 
account by presenting your Card at a financial institution that accepts VISA/MasterCard. You can use your Card to 
obtain up to $1,000 per day in cash from any authorized Educators Credit Union Automated Teller Machine (ATM). 
You may not obtain a Cash Advance if your account is delinquent, closed or the amount of the advance would 
cause your balance to go over your credit limit.  

3. Your Promise to Pay:  
3.1 You promise to pay us, when due, the total of all Credit Purchases and Cash Advances you make on your 
account. You also promise to pay the total of any Finance Charge and other charges due on the account. You 
promise to pay all costs and expenses, including court costs that we incur enforcing this Agreement.  
3.2 You may pay your entire balance at any time. 

4. Additional Card Holders or Others Using your Account: You may authorize others to use your account. You may 
add up to 3 additional card holder(s) to your account at no extra charge. Each additional cardholder will receive a 
credit card with his/her individual name embossed. You promise to pay for all Credit Purchases and Cash Advances 
made by anyone you authorize to use our account, with or without a card, and whether or not you notify us that 
he/she will be using it. If another person has use of your account and you want to end that person’s privilege; you 
must recover and return that person’s credit card. If you are unable to recover and return the card, you will 
continue to be responsible for any charges made unless you tell us to cancel all cards and establish an account for 
you, which will be done automatically if you notify us of unauthorized use under paragraph 22 of this agreement. 
We may request written verification from you regarding any change or cancellation to your account. We may 
request written verification from you regarding any change or cancellation to your account.  

5. US Currency: If you make a purchase or cash advance in foreign currency the transaction will be converted into 
US Dollars by VISA/MasterCard.  

For VISA/MasterCard Accounts: If you effect a transaction with your VISA/MasterCard in currency other than US 
dollars, VISA/MasterCard International Incorporated will convert the charge into an US dollar amount. 
VISA/MasterCard International will use its currency conversion procedure, currently the currency conversion 
procedure that is disclosed to institutions that issue VISA/MasterCard. Currently the currency conversion rate used 
by VISA/MasterCard International to determine the transaction amount in US dollars for such actions is generally 
either a government mandated rate or wholesale determined by VISA/MasterCard International for the processing 
cycle in which the transaction is processed, increased by an adjustment factor established from time to time by 
VISA/MasterCard International. The currency conversion rate used by VISA/MasterCard International on the 
processing date could differ from the rate that would have been used on the purchase date or account holder 
statement posting date.  

Revised January 18, 2012 

 
 
 
 
 
  
 
 
6. Your Credit Limit; Over Limit Fees: Your credit limit is shown on each of your billing statements. You agree not 
to use your account in any way that may cause your balance to go over your limit. If you do, we may at our 
digression close your account, and/or exercise any of our other remedies under this Agreement or the law. You 
must pay the full amount of your balance which is over the credit limit. The fact that we do not ask you for that 
amount as part of the Minimum Periodic Payment shown on your billing statement does not relieve you of your 
obligation to pay it immediately. We will charge you a fee each time your balance exceeds your credit limit by $50 
or more. We will not authorize any new Credit Purchases or Cash Advances if your records who that doing so will 
cause your balance to go over your limit. If we do authorize any such Credit Purchase or Cash Advance, such 
authorization will not result in any waiver of our rights under this section. If we increase your credit limit, we will 
notify you. 

7. Law Governing this Agreement: To the extent not expressly prohibited by applicable law, this agreement and 
you account, as well as our rights and duties and your rights and duties regarding this agreement and your 
account, will be governed by and interpreted in accordance with the laws of the state of Wisconsin, excluding the 
conflicts law of Wisconsin and the Unites States regardless of where you may reside or use your account at any 
time. This choice of law is made because of a strong relationship between this Agreement and your account to 
Educators Credit Union, because Issuer is located in Wisconsin and to insure uniform procedures and 
interpretation for all of our customers, no matter where they reside or use their accounts. If any term or provision 
of this Agreement is found to be unenforceable, this will not make any other terms or provision unenforceable.  

8. Limitation of Lawsuits: You agree that any lawsuit based on any cause of action which you may have against us, 
must be filed within one year from the date that it arises or you will be barred from filing a lawsuit. This limitation 
is intended to include tort, contract, and all other causes of action for which you and we may lawfully contract to 
set limitations for bringing that suit.  

9. Honoring Your Card: We will not have any responsibility to you if anyone refuses to honor a Card issued on your 
account. Any refund, adjustment or credit allowed by a Seller shall not be by cash but rather by a credit advice to 
us that shall be shown as a credit on your account statement.  

10. Security for this Account: [Note: Under Regulation Z 226.6(c), open-end creditors must disclose in the initial 
disclosure statement any “security interests” they have or will acquire; i.e. the fact that the creditor has or will 
acquire a security interest in the property purchased under the plan, or in other property identified by item or 
type.]  

If you have other loan or credit extensions from Issuer, or take our other loan or credit extensions with Issuer in 
the future, collateral securing those loans or credit extensions will also secure your obligations under this 
Agreement. However, unless you expressly agree otherwise, you household goods and dwelling will not secure you 
obligations under this Agreement even if Issuer has or later acquires a security interest in the household goods or a 
mortgage on the dwelling. If you have executed a written agreement granting a security interest in any deposit 
accounts (checking, savings, or share accounts) or other funds held by Issuer to secure your obligations under this 
credit card plan, such accounts and/or funds are additional securities for your obligations to Issuer arising from the 
use of your Card.  

11. Payment Period: You will receive monthly billing statements from us. The New Balance shown on your 
statement is the total of unpaid obligations, which have been posted to your account as of the statement date. You 
can either pay the entire New Balance or you can pay in installments, but we must receive at least the Minimum 
Periodic Payment shown on your billing statement by the payment due date. The Minimum Periodic Payment is 
figured as follows:  
Your Minimum Periodic Payment is:  
If Your New Balance is: 
- $1,000.00 or less        
- Over $1,000                 

Your Minimum Periodic Payment is:  
- $20.00 
- 2% of the portion of the New Balance which does not exceed your credit limit, plus any 
amount past due or$20.00 whichever is greater.  

Revised January 18, 2012 

 
 
 
 
 
 
 
                                       
12: Payment Applications: Payment made to your account will be applied in the following order: Fees and Finance 
Charges, previously billed purchases, cash advances, and new purchases. We may accept checks marked “Paid in 
Full” or with words of similar effect without losing any of our rights to collect the full balance of your account.  

13. Immediate Repayment of Your Full Balance: You will be in default, and we may, without notifying you, 
temporarily suspend your credit, close your account, cancel all credit cards issued on it and require immediate 
payment of your entire balance if any of the following occurs:  
a. You fail to make payment when it is due  
b. You do not follow the terms of this Agreement in any way  
c. You have made any false or misleading statements on the application for your account  
d. You fail to pay any other loans you owe us  
e. You become insolvent or die  
f. There is an attachment, execution or levy against your property or you make an assignment for the benefit of 
creditors’  
g. A bankruptcy petition is filed by or against you or your spouse  
h. A guardian, conservator, receiver, custodian or trustee is appointed for you 
i. You are generally not paying your debts as they become due or  
j. There has been a material adverse change in your financial standing  

14. Reevaluation of Credit: We can reinvestigate and reevaluate any information you provided on your credit 
application at any time, and in the course of doing so, we may ask you for additional information, request credit 
bureau reports and/or otherwise verify your current credit standing.  

15. Periodic Finance Charge: Your account will be subject to the Monthly Periodic Finance Charge Rate and 
corresponding Annual Percentage Rate applicable to the Educators Credit Union accounts, set forth in the Initial 
Disclosure provided to you by us.  

The Periodic Finance Charge on Cash Advances is calculated as follows: A Finance Charge will be imposed on Cash 
Advances from the date of the Cash Advance or from the first day of the billing cycle in which the Cash Advance is 
posted to your account, whichever is later, and will otherwise be calculated in the same manner as explained for 
Credit Purchases.  

The Periodic Finance Charge on Credit Purchases is calculated as follows: A Finance Charge will be imposed on 
Credit Purchases only if you elect not to pay the entire New Balance shown on your monthly statement for the 
billing cycle during which such transactions are posted to your account within 25 days from the closing date of that 
statement. If you elect not to pay the entire New Balance shown on your monthly statement within that 25-day 
period, a Finance Charge will be imposed on the unpaid average daily balance of such Credit Purchases from the 
statement closing date (but not on the Credit Purchases posted during the current billing period) and will continue 
to accrue until the closing date of the billing cycle preceding the date on which the entire New Balance is paid in 
full or until the date of payment if more than 25 days from the closing date. The finance Charge for a billing cycle is 
computed by applying the monthly Periodic Rate to the average daily balance of Credit Purchases, which is 
determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle. 
Each daily balance of Credit Purchases is determined by subtracting from the outstanding unpaid balance of Credit 
Purchases at the beginning of the billing cycle and payments as received and credits as posted to your account but 
excluding any unpaid Finance Charges.  

16. Transaction Finance Charge: The Transaction Finance Charge is a one-time charge made each time a new Cash 
Advance is posted to your account. The charge for each Cash Advance obtained through any ATM is $0.00. The 
charge of each Cash Advance obtained through any other source is 0% of the amount of the advance but in the 
event less than $0.00, or greater than $0.00.  

Since Transaction Finance charges are one-time charges that must be included in calculating the Annual 
Percentage Rate, the actual Annual Percentage Rate shown on your periodic statement may exceed the 

Revised January 18, 2012 

 
 
 
 
 
 
 
 
corresponding Annual Percentage Rate (which is based on Periodic Finance Charge) in any month for which a new 
Cash Advance is posted to your account.  

17. When Finance Charge Begins: The Transaction Finance Charge is assessed on the date the new Cash Advance is 
posted to your account. The Periodic Finance Charge for Credit Purchases and Cash Advances begins on the dates 
as described in paragraph 15 of this document.  

18. Other Charges: The Total Other Charges is the sum of:  
a. Membership Fee: We charge a membership fee of $0.00 per year, which will be billed to your account during 
the same “renewal month” each year. If we assign your account a renewal month other than the month of your 
first billing statement, we may assess a partial Membership Fee prorated for the period until the first renewal 
month. All Membership Fees are payable when posted to your account and are non-refundable except as 
otherwise provided for by law. This annual fee shall be treated as a credit purchase for purposes of calculating 
Finance Charges unless prohibited by law.  
b. Late Charge: If we do not receive at least your minimum required payment within 10 days after the closing date 
subsequent to the payment due date indicated on your billing statement, we will impose a late or delinquency 
charge of $10.00.  
c. Over-the-limit Charge: Each time your New Balance exceeds your maximum authorized credit we will impose an 
Over-the-limit Charge of $0.00.  
d. Replacement Card: We reserve the right to charge you $5.00 to replace a card.  
e. Document Copy Fee: A charge of $1.00 per statement copy or per item for any other document requested by 
cardholders.  

19. If you Change Your Name or Address: You agree to notify us in writing within twenty days if you change your 
name, your home or mailing address, or home or business telephone number.  

20. Our Right to Cancel Your Account: We can cancel your account at any time, or reduce the amount of your 
credit line, without notice to you, except in those situations where notice is required by law. If we cancel your 
account, you agree to destroy all Cards issued on your account by cutting them in half and returning them to us. 
You will continue to be responsible for full payment of the balance on your account and all charges to your account 
including those not yet received by us, as well as subsequent Finance Charge and other charges. Each Card is our 
property, and you agree that the Cards are not transferable and to surrender any Card upon demand.  

21. Change in Terms of Your Account: We can change any terms of your account at any time. We will provide you 
with such notice as is required by law by mailing a notice to you at the latest address shown in our records. Subject 
to applicable law, and change will apply to the current balance of your account, as well as to future balances.  

22. If Your Card is Lost or Stolen or if an Unauthorized Use May Occur: You agree to notify us immediately if your 
card is ever lost or stolen or if an unauthorized use may have occurred. The telephone number to call us is 
(262)886-5900 during normal business hours and (800)991-4965 after hours. For any disputes, please call 
(800)600-5249. You agree to follow up your call with notice in writing to us at: Educators Credit Union – Card 
Department, P.O. Box 081040, Racine, WI 53408. You also agree to assist us in determining the facts, 
circumstances and other pertinent information relating to any loss, theft or possible unauthorized use of your 
credit card and comply with such procedure as we may require in connection with our investigation, including 
assisting in the prosecution of any unauthorized user.  

23. Liability for Unauthorized Use of Credit Card: We may hold you liable for the unauthorized use of your credit 
card. You will not be liable for unauthorized use that occurs after you notify us orally or in writing of the loss, theft, 
or possible unauthorized use. In any case, your liability will not exceed $50.00 for MasterCard ($0.00 for VISA).  

24. Credit Information: You agree that we may release information to others, such as credit bureaus, regarding the 
status and history of your account. However, we are not obligated to release any such information to anyone 
unless we are required to do so.  

Revised January 18, 2012 

 
 
 
 
 
 
 
 
 
25. Waivers: If, for any reason, we do not make any use of our rights under this Agreement on a particular 
occasion that will not limit our rights in the future in any way.  

26. Our Address To Send Payment: Payments may be sent to the address listed on the front of the billing 
statement after the phrase “make check payable to”. To inquire or send correspondence: Write us at the address 
indicated on the front of the billing statement after the phrase “send inquiries to”.  

27. Important Notice to our Customers Who Contact us by Phone: Cardholder agrees that Issuer, its agents and 
service companies may, without the need to seek additional confirmation from Cardholder, monitor and/or record 
any telephone communications with Cardholder to insure that inquiries from you are handled promptly, 
courteously, and accurately.  

28. VISA/MasterCard Rules and Regulations: The services being provided to you under this Agreement are made 
possible by Issuer’s status as a licensee of VISA/MasterCard International. You recognize Issuer’s responsibility to 
comply with the current VISA/MasterCard International rules and regulations and changes to them in order to 
continue to provide these services.  

29. Regulation Z Initial Disclosures: By using your card, you acknowledge receipt from us of the Initial Disclosures 
required by Regulation Z of the Truth-In-Lending Act and that the terms contained in the Initial Disclosures apply to 
you and your use of the card and are incorporated in full into this agreement. The information about the terms and 
costs of the Card described in the Customer Agreement is accurate as of the Effective Date. This information may 
have changed after that date. To find out what may have changed, call us or write to us.  

Write to:  
Phone:  

Educators Credit Union 1400 N. Newman Road P.O. Box 081040 Racine, WI 53408  
(262)886-5900 

Revised January 18, 2012