and as otherwise permitted by law. At your request, we will 
tell you whether we requested a report and, if so the name 
and address of the credit reporting agency which provided 
it. We may disclose information about your account to 
credit bureaus and creditors who inquire about your credit 
standing.
15. Returns and Credit Balances
Merchants and others who honor the Card may give credit 
for returns or adjustments by sending a credit transaction 
which will post to your account. The credit will be applied 
first to pay what you owe us under this Agreement. If there is 
a credit balance (i.e. a balance in your favor) on your account, 
we will hold it and apply it to future amounts owed but will 
not pay you interest on it. We will refund a credit balance to 
you if you ask. If the credit balance is greater than $50, your 
request must be in writing. If a credit balance greater than $1 
remains in your account for six months, we will automatically 
refund it to you. We may charge to your account or you will 
pay us any amount that we refund in error.
16. Exchange Rates for Foreign Transactions
Purchases and Cash Advances made in foreign countries and 
foreign currencies will be billed to you in U.S. Dollars. 
The exchange rate between the transaction currency and 
the billing currency used for processing international 
transactions is a rate selected by Visa from the range of rates 
available in wholesale currency markets for the applicable 
central processing date, this rate may vary from the rate Visa 
itself receives, or the government-mandated rate in effect 
for the applicable central processing date, plus 1%.
17. Monitoring Telephone Calls
By using your Card the first time, you authorize ESL and 
its servicer to record and monitor your calls regarding this 
account.
18. Responsibility for Use of Card/Notices
Each person who has accepted and agreed to the terms of 
this Agreement is individually responsible for all amounts 
owed on the account and all are jointly responsible for all 
amounts owed. This means ESL can enforce this Agreement 
against any of you individually or all of you together. You are 
responsible for advances obtained by anyone that one of 
you authorizes to use the account. Each of you remains fully 
responsible even if another agreement, a divorce decree, 
or a court order directs only one of you or a third party to pay. Statements and notices addressed and mailed to any 
one of you at the most recent address we have for you in our 
records will be considered to have been sent to all of you.
19. Liability for Unauthorized Use
You may be liable for the unauthorized use of your Card. 
You will not be liable for unauthorized use that occurs after 
you notify us orally or in writing at Cardholder Service, P .O. 
Box 31112, Tampa, FL 33631-3112 or at 800.449.7728 (or 
from outside the United States at 727.571.2200)  of the 
loss, theft or possible unauthorized use. Notwithstanding 
the above, you may be liable for any amount to the extent 
allowed under applicable law if we determine that you 
were grossly negligent or fraudulent in the handling of your 
account.
20. Governing Law
Any legal question under this Agreement will be decided in 
accordance with applicable federal and New York State law 
without regard to the laws of any other state. This Agreement 
is made, and credit is extended in New York.
21. Change in Terms
A change in terms notice regarding this account will be 
made in accordance with applicable regulation.
YOUR BILLING RIGHTS  
KEEP THIS NOTICE FOR FUTURE USE
This notice contains important information about your rights 
and our responsibilities under the Fair Credit Billing Act.
NOTIFY US IN CASE OF ERRORS OR QUESTIONS ABOUT 
YOUR STATEMENT �If you think your statement is wrong, 
or if you need more information about a transaction on 
your statement, write to Cardholder Service, P .O. Box 31112, 
Tampa, FL 33631-3112. We must hear from you no later than 
60 days after we sent you the FIRST statement on which 
the error or problem appeared. You can telephone us at 
800.654.7728, but doing so will not preserve your rights.
In your letter, give us the following information:
� Your name and account number.
� The dollar amount of the suspected error.
� Describe the error and explain if you can, why you 
believe there is an error. If you need more information, 
describe the item you are not sure about.YOUR RIGHTS AND OUR RESPONSIBILITIES AFTER WE 
RECEIVE YOUR WRITTEN NOTICES �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 statement 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 the amount you question, 
including finance 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 your statement that are not 
in question.
If we find that we made a mistake on your statement, you 
will not have to pay any finance charges related to any 
questioned amount. If we didn�t make a mistake, you may 
have to pay finance charges, and you will have to make up 
any missed payments on the questioned amount. In either 
case, we will send you a statement of the amount you owe 
and the date that is due.
If you fail to pay the amount that we determine you owe, we 
may report you as delinquent. However, if our explanation 
does not satisfy you and you write to us within 10 days telling 
us that you still refuse to pay, we must tell anyone we report 
you to that you have a question about your statement. And, 
we must tell you the name of anyone we reported you to. 
We must tell anyone we report you to that the matter has 
been settled between us when it finally is. If we don�t follow 
these rules, we cannot collect the first $50 of the questioned 
amount, even if your statement was correct. 
Special Rule for Credit Card Purchases
If you have a problem with the quality of property or services 
that you purchased with the ESL Credit Card, and you have 
tried in good faith to correct the problem with the merchant, 
you may have the right not to pay the remaining amount 
due on the property or services. There are two limitations to 
this right.
1. You must have made the purchase in your home state 
or, if not within your home state, within 100 miles of 
your current mailing address; and
2. The purchase price must have been more than $50. 
These limitations do not apply if ESL owns or operates the 
merchant, or if ESL mailed you the advertisement for the 
property or services.Accepted by:
ESL Federal Credit Union
Corporate Headquarters
225 Chestnut Street
Rochester, NY 14604
ESL Visa� 
Secured 
Credit Card 
AgreementESL Federal Credit Union
M-115274 (07/15) RETAIL INSTALLMENT CREDIT AGREEMENT
1. Agreement
This Agreement is between ESL Federal Credit Union (called 
�ESL� , �us� or �we�) and each person who accepts the Visa 
account (called �you�). The word �Card� refers to any Visa 
Card(s) or Card number and the word �Check� refers to any 
Check we issue under this Agreement. Sign your Card before 
you use it. The first use of your Card, Check, or the Card 
number means that you accept and agree to be bound by all 
the terms of this Agreement.  You should refer to the Savings 
and Checking Disclosure, Terms and Account Agreement for 
the terms related to your Secured Credit Card Daily Dividend 
Account.
2. Using the Card/Account
You may use the Card or a Check to make purchases in 
person, by mail, electronically (through the Internet) or by 
telephone from merchants and the others who accept Visa 
Cards or Checks. Any financial service provided by ESL Federal 
Credit Union may be used for any transaction permitted by 
law. You agree that the illegal use of any financial service will 
be deemed an action of default and/or breach of contract 
and such service and/or other related services may be 
terminated at the discretion of ESL. You further agree, should 
illegal use occur, to waive the right to sue ESL for such illegal 
activity directly or indirectly related to it. You also agree to 
indemnify and hold ESL harmless from any suits or other 
legal action or liability, resulting from such illegal use. ESL is 
not responsible if any merchant refuses to accept the Card 
or Check. You may also obtain cash advances from ESL, from 
other financial institutions participating in the Visa program, 
and from automated teller machines which display the PLUS 
or VISA network logos. (Not all ATMs provide such access and 
you will need to use your Personal Identification Number at 
those that do.) Cash advances can be used to make balance 
transfers.
3. Credit Limit
When we send you the Card, and on each monthly 
statement, we will tell you your credit limit. You may request 
an increase in your credit limit by a written application or a 
telephone request. The portion of your payments applied to 
the principal may be re-borrowed, up to your current credit 
limit. We may reduce your credit limit or terminate your 
borrowing privileges at any time without prior notice to 
you. You may not allow the balance outstanding under this Agreement to exceed your credit limit. We may, however, at 
our discretion, honor your request for an advance that will 
exceed your credit limit. If we do, all the provisions of this 
Agreement will apply to that excess, you will be charged 
finance charges on the advance, and you must pay the entire 
excess to us on demand.
4. Payments
You agree to repay all advances made under this Agreement 
in response to a request by you or anyone you authorize and 
all finance charges and all other charges and amounts owed 
under this Agreement. Within 25 days after the statement 
closing date each month, you must make a minimum 
payment. The minimum payment will be equal to the sum 
of: (i) the greater of 2.7% of your Total New Balance or $25; 
(ii) any amounts that are past due; (iii) the portion of your 
balance that exceeds your credit limit; (iv) any late fees that 
you owe; and (v) any other fees you may owe. Y ou may pay 
more than the minimum due or your entire indebtedness 
in full at any time.  We may allocate payments to amounts 
due in any manner or order chosen by us, provided we 
comply with any applicable laws or regulations.
5. Receipt of Payment
If we receive your payment, with a payment stub, at the 
address indicated on the front of your monthly statement by 
5:00 p.m., Monday through Friday (excluding legal holidays) 
we will credit it to your account the same day. If your payment 
is received later in the day, it will be credited to your account 
the next business day. If we receive your payment at another 
location or without the payment stub, we will credit it within 
five business days. We may return without presentment or 
protest and without credit to your account any check which 
is: (i) missing a signature; (ii) drawn with different numeric 
and written amounts; (iii) postdated; (iv) not payable to ESL; 
(v) not paid upon presentment; (vi) drawn on a bank outside 
the United States; (vii) a Check provided to you for use under 
this Agreement.
6. Irregular Payments
We will not lose any rights if we accept late payments, partial 
payments, checks or money orders marked �payment in full� 
or with similar words or phrases or other irregular payments.
7. Payment Holidays
From time to time, we may offer you a payment holiday 
allowing you to skip a minimum payment. Finance charges, if any, will continue to accrue on your balance at the applicable 
periodic rate and the period within which you must pay 
the Total New Balance to avoid paying finance charges on 
purchases will not be extended. The regular payment terms 
will resume at the end of the payment holiday.
8. Finance Charge
The total finance charge you owe for a billing cycle will be 
equal to the �Periodic Rate Finance Charge. � The minimum 
finance charge is $.50 in any billing cycle during which 
there is an outstanding balance in your account subject to 
a finance charge. You will continue to pay a finance charge 
at a periodic rate calculated as described in and under 
this Agreement until what you owe is paid in full. Finance 
charges can continue to accrue after the date your monthly 
statement is generated. Therefore, even if you pay the Total 
New Balance shown on your monthly statement and do not 
take any additional advances after that date, you may still 
owe additional finance charges which accrued after that 
Total New Balance was determined.
A. Periodic Rate Finance Charge �We calculate the 
Periodic Rate Finance Charge by (i) multiplying the 
applicable daily periodic rate by (a) the �purchase average 
daily balance� and (b) the �Cash Advance average daily 
balance�; (ii) adding those amounts together; and (iii) 
multiplying the sum by the number of days in the billing 
cycle.
(1) Amount to Which Periodic Rate is Applied
To get the �purchase average daily balance, � each 
day we take the beginning balance of your account 
attributable to purchases that day, add any new 
purchases or purchase debits that day and subtract 
any payments or credits attributable to purchases that 
day. We do not include any unpaid finance charges. This 
gives us the �purchase daily balance. � Then we add up 
all the �purchases daily balances� for the billing cycle 
and divide the total by the number of days in the billing 
cycle. This gives us the �purchase average daily balance. � 
However, the �purchase average daily balance� will be 
considered $0 if you pay your Total New Balance in full 
by the billing cycle date and you paid your previous 
balance in full by the billing cycle date. 
To get the �Cash Advance average daily balance, � each 
day we take the beginning balance of your account 
attributable to Cash Advances that day, add any new Cash Advances or Cash Advance debits that day and 
subtract any payments or credits attributable to Cash 
Advances that day. We do not include any unpaid 
finance charges. This gives us the �Cash Advance daily 
balance. � Then we add up all the �Cash Advance daily 
balances� for the billing cycle and divide the total by 
the number of days in the billing cycle. This gives us 
the �Cash Advance average daily balance. � There is no 
�grace� period for Cash Advances.
(2) Determination of the Daily Periodic Rate
The daily periodic rate equals the Annual Percentage 
Rate (APR) divided by 365.
Base  Rate  for  ESL Visa Secured Credit Card� Provided 
the Past Due Rate does not apply, the annual percentage 
rate will be variable and will equal the highest  domestic  
Prime  Rate  published  in  the  Money  Rates section of 
The Wall Street Journal  as of five business days prior to 
the first day of the calendar month in which the billing 
cycle begins (called the �Index�) plus 11.00 percentage 
points (11.00%) (called the �Secured Base Rate�). The 
Secured Base Rate can change on the first day of each 
billing cycle.
Past Due Rate �The APR applicable starting on the first 
day of the first billing cycle after your account becomes 
�past due� and continuing until the billing cycle after the 
�past due� status is corrected will be 18%. Your account 
will be �past due� if the minimum monthly payment is 
not made for two consecutive billing cycles.
Effect of an Increase �An increase in the APR will 
result in an increase in the finance charge, the monthly 
payment, and the outstanding balance of your account.
B. Cash Advance Fee �there is no Cash Advance Fee.
C. Maximum Rate �The APR will not exceed the maximum 
rate allowed by applicable law.
9. Other Charges
You will pay the following other charges as applicable.
A. Annual Membership Fee �there is no Annual 
Membership Fee.
B. Documentary Evidence Charge �If you request 
documentary evidence of a transaction (for example, a 
copy of a sales draft or a duplicate monthly statement) 
other than in connection with a billing error inquiry, you will pay a Documentary Evidence Charge of $2.50 for each 
document. The charge will be added to your Purchase 
Balance.
C. Late Fee �You will pay a Late Fee of up to $25 if your 
Total New Balance on the last day of the billing cycle 
exceeds $25 and your minimum payment has not been 
received within three days following the payment due 
date. The fee will be charged after the third day and added 
to your Purchase Balance.
D. Returned Payment Charge �You will pay a Returned 
Payment Charge of up to $25 if you pay us with a check 
that your bank will not honor or that is incomplete or if we 
return a check unpaid. The charge will be added to your 
Purchase Balance.
E. Over the Credit-Limit Fee �there is no Over the Credit-
Limit Fee.
10. Default
You will be in default if: (i) you fail to make any minimum or 
other required payment by the date it is due; (ii) you violate 
any of the other terms of this Agreement; (iii) you default 
in the payment of any other loan account with ESL; (iv) you 
die; (v) you file for bankruptcy or become insolvent (unable 
to pay your obligations as they become due); (vi) you make 
any false or misleading statement on any credit application 
or credit update or fail to provide complete and accurate 
financial information within 30 days after a request from ESL 
for the information; (vii) any judgment is entered against 
you or any of your deposit accounts at ESL are attached 
or levied upon; or (viii) you close your Secured Credit 
Card Daily Dividend Account without also closing your 
ESL Visa Secured Credit Card Account or (ix) something 
happens which ESL believes may substantially reduce your 
ability to repay what you owe, including without limitation, 
any reduction in the amount in your Secured Credit Card 
Daily Dividend Account below your credit limit. 
When you are in default, ESL has the right to demand 
immediate payment for your full account balance without 
prior notice. To the extent permitted by law, you will also be 
required to pay collection expenses, including court costs 
and reasonable attorney�s fees, incurred by ESL.
11. GRANTING ESL A SECURITY INTEREST
IN CONSIDERATION OF ESL ISSUING YOU A CARD, 
YOU PLEDGE, GRANT AND ASSIGN TO ESL A SECURITY INTEREST IN THE SECURED CREDIT CARD DAILY 
DIVIDEND ACCOUNT YOU OPENED IN CONNECTION 
WITH THIS ESL VISA SECURED CREDIT CARD ACCOUNT. 
THIS SECURITY INTEREST INCLUDES ALL RENEWALS, 
ADDITIONS TO AND PROCEEDS IN THAT DAILY DIVIDEND 
ACCOUNT. YOU AGREE THAT THIS ASSIGNMENT AND 
SECURITY INTEREST INCLUDES AND GIVES US THE 
EXCLUSIVE RIGHT TO WITHDRAW FROM THAT DAILY 
DIVIDEND ACCOUNT ANY PART OR THE FULL AMOUNT 
YOU OWE US UNDER THIS AGREEMENT. 
12. Checks and Balance Transfers
We will not process a Check or Balance Transfer if: (i) you do 
not have enough available credit in your account to cover 
the Check or Balance Transfer in full; (ii) your account or your 
right to obtain advances has been suspended or terminated; 
(iii) your Card or Checks have been reported stolen; (iv) your 
Check is postdated (shows a future date), although we may 
pay postdated Checks as if they had a current date; or (v) you 
are in default under this Agreement. We will not return to you 
the Checks that are paid but will keep them on microfilm or 
another storage medium. There is no finance charge grace 
period for Checks and Balance Transfers.
13. How to Stop Payment of a Check or Balance Transfer
You may request a stop payment on a Check or Balance 
Transfer by notifying us by telephone at the number shown 
on your monthly statement. The request will only be effective 
for 14 days unless during that period you confirm, in writing, 
which describes with certainty the item on which payment 
is to be stopped. Notice must be received by us at ESL, 
Cardholder Service, P .O. Box 31112, Tampa, FL 33631-3112 in 
a timely manner so as to afford us a reasonable opportunity 
to act upon it. In any event, we may disregard any stop 
payment request six months after we receive it unless you 
renew it in writing within the six month period. We will use 
commercially reasonable efforts to stop payment of the 
Check or Balance Transfer. However, you agree that we will 
not be responsible in any way if a Check or Balance Transfer 
is processed or otherwise presented for payment after you 
have requested us to stop payment and, using commercially 
reasonable efforts, we are unable to stop the payment.
14. Credit Information
We may investigate your credit standing and request credit 
reports about you in connection with your Visa Account 
and updates, renewals, extensions and collection activity