CREDIT CARD ACCOUNT AGREEMENT AND FEDERAL
P. O. Box 983
Texell
DISCLOSURE STATEMENT; SECURITY AGREEMENT;
Temple, Texas 76503
254.773.1604
Your Credit Union
MILITARY ANNUAL PERCENTAGE RATE (MAPR) AND
Texell.org
PAYMENT OBLIGATION DISCLOSURE ("Agreement")
Numbers, phrases, or words preceded by a
are applicable only if the
is marked, e.g.
ACCOUNT-OPENING DISCLOSURES
Interest Rate and Interest Charges
Annual Percentage Rate
VISA Platinum BONUS:
% Introductory APR for 6 months or 6 full
(APR) For Purchases
billing cycles after Your Account is opened, whichever is greater.
After that Your APR will be
%. This APR will vary with the market
based on the Prime Rate.
VISA Signature BONUS:
% Introductory APR for 6 months or 6 full
billing cycles after Your Account is opened, whichever is greater.
After that Your APR will be
%. This APR will vary with the market
based on the Prime Rate.
VISA Aspire:
%
This APR will vary with the market based on the Prime Rate.
APR For Balance Transfers
VISA Platinum BONUS:
% Introductory APR for 6 months or 6 full billing
cycles after Your Account is opened, whichever is greater.
After that Your APR will be
%. This APR will vary with the market
based on the Prime Rate.
VISA Signature BONUS:
% Introductory APR for 24 months or 24 full
billing cycles after Your Account is opened, whichever is greater.
After that Your APR will be
%. This APR will vary with the market
based on the Prime Rate.
VISA Aspire:
%
This APR will vary with the market based on the Prime Rate.
APR For Cash Advances
VISA Platinum BONUS:
%
This APR will vary with the market based on the Prime Rate.
VISA Signature BONUS:
%
This APR will vary with the market based on the Prime Rate.
VISA Aspire:
%
This APR will vary with the market based on the Prime Rate.
Paying Interest
VISA Platinum BONUS & VISA Signature BONUS - Your due date will be at least 25
days following the statement closing date. We will not charge You interest on purchases
if You pay Your entire balance owed each month by the payment due date. We will not
charge You interest on balance transfers prior to the expiration of any Introductory Rate
period if You pay Your entire balance owed each month by the payment due date during
that period. We will begin charging interest on cash advances on the transaction date.
VISA Aspire - Your due date will be at least 25 days following the statement closing
date. We will not charge You interest on purchases if You pay Your entire balance owed
each month by the payment due date. We will begin charging interest on balance
transfers and cash advances on the transaction date.
For Credit Card Tips from the
To learn more about factors to consider when applying for or using a Credit
Consumer Financial Protection
Card, visit the website of the Consumer Financial Protection Bureau at
Bureau
http://www.consumerfinance.gov/learnmore.
SEE TOP OF PAGE 2 for more important information about Your account.
Copyright Oak Tree Business Systems, Inc., 2018-2019. All Rights Reserved.
Page of 7
OTBS 045 TEXL (7/19)
Fees
Transaction Fees
Overdraft Transfer
For VISA Platinum BONUS and VISA Aspire, $8.00 for each transfer
Cash Advance
For VISA Platinum BONUS and VISA Aspire, $8.00 for each advance
For VISA Signature BONUS, $15.00 for each advance
Balance Transfer
For VISA Platinum BONUS and VISA Aspire, $8.00 for each transfer not subject to an
Introductory APR
For VISA Signature BONUS, 3.00% [$8.00 minimum] for each transfer not subject to an
Introductory APR
Penalty Fees
Late Payment
Up to $35.00
Returned Payment
Up to $25.00
How We Will Calculate Your Balance: We use a method called "average daily balance (including new purchases)." 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.
SECURITY AGREEMENT
Borrower(s):
Credit Card Account Number:
SECURITY INTEREST
To secure all obligations of Borrower(s) hereunder to the Credit Union You grant and consent to a lien on Your shares, and if described
below, You also give a security interest and lien in and upon the shares (Collateral) identified separately below, and any related insurance
premium refunds.
CONSENSUAL LIEN ON SHARES. You grant and consent to a lien on Your shares with Us, in either joint or individual accounts (except for IRA and
Keogh accounts), and any dividends due or to become due to You from Us to the extent You owe on any unpaid Credit Card balance. You acknowledge
that it is Your intention for such consensual lien to apply to all shares currently on deposit, together with any shares You may deposit in the future. You
further acknowledge that in the event You default on Your Account, We will set-off any Credit Card indebtedness against such shares, and You agree
that We may do so without any further notice to You.
DESCRIPTION (Account Type(s) Pledged)
ACCOUNT NUMBER (Account Number(s) Pledged)
AMOUNT PLEDGED
By signing below, You acknowledge that You have read this entire Agreement, that You understand it, that You accept and agree to all of the terms and conditions
described in it, and that You have received a completed copy of it. You authorize Us to accept Your facsimile signatures and agree that Your facsimile signature will
have the same legal force and effect as Your original signature. You assume any risk that may be associated with permitting Us to accept Your facsimile signature.
X
Name of Borrower
Signature of Borrower
Date
X
Name of Borrower
Signature of Borrower
Date
Copyright Oak Tree Business Systems, Inc., 2018-2019. All Rights Reserved.
Page 2 of 7
OTBS 045 TEXL (7/19)
OVERDRAFT PROTECTION. We may transfer funds in the amount necessary (or in such increments as We may from time to time determine) to Your share draft
account by an advance on Your Account, subject to this provision, to clear any overdraft on Your share draft account. Whether or not such transfers occur will
be
controlled by this Agreement. In any event, You hold Us harmless for any and all liability which might otherwise arise if the transfer does not occur. Overdraft
protection automatically ceases if this Agreement is ever cancelled or terminated or Your Account is in default.
If You currently have a share draft account, You authorize Us to pay any of Your overdrafts in the order listed below, and You acknowledge that any advance
made to clear an overdraft will only be made if You have sufficient available credit. If no priority is listed, then any such overdrafts will only be charged to
Your Account (subject to Your available Credit Limit). If You do not have a share draft account at this time, and subsequently establish such an account in
the future, You acknowledge that the order in which any overdrafts will be paid shall be subject to the preference You have separately indicated to Us for
clearing any overdrafts.
1.
2.
3.
STATEMENT OF THE MILITARY ANNUAL PERCENTAGE RATE (MAPR), AND PAYMENT OBLIGATION DISCLOSURE
If these disclosures were not provided to You in-person, We will
also provide these disclosures to You orally, if You contact Us
at the toll-free number set forth herein.
Toll-Free Number:
855.351.7048
STATEMENT OF THE MILITARY ANNUAL PERCENTAGE RATE (MAPR)
Federal law provides important protections to members of the Armed Forces and their dependents relating to extensions of consumer credit. In
general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of
36 percent. This rate must include, as applicable to the credit transaction or account: The costs associated with credit insurance premiums; fees
for ancillary products sold in connection with the credit transaction; any application fee charged (other than certain application fees for specified
credit transactions or accounts); and any participation fee charged (other than certain participation fees for a credit card account).
PAYMENT OBLIGATION DISCLOSURE
Please refer to the important Account-Opening Disclosures required by the federal Truth in Lending Act, including Your Credit Card Account
Agreement And Federal Disclosure Statement for important information about Your payment obligations. This Agreement is being furnished to You
at or before the time Your open-end credit account is established.
[The remainder of this page is intentionally left blank]
Copyright Oak Tree Business Systems, Inc., 2018-2019. All Rights Reserved.
Page 3 of 7
OTBS 045 TEXL (7/19)
CREDIT CARD ACCOUNT AGREEMENT AND FEDERAL DISCLOSURE STATEMENT
THIS IS YOUR CREDIT CARD ACCOUNT AGREEMENT AND IT INCLUDES NECESSARY FEDERAL TRUTH-IN-LENDING DISCLOSURE STATEMENTS, VISA
PLATINUM BONUS, VISA SIGNATURE BONUS, AND VISA ASPIRE CREDIT CARD AGREEMENTS, AND ANY SPECIAL INSTRUCTIONS REGARDING THE USE OF
YOUR VISA PLATINUM BONUS, VISA SIGNATURE BONUS, AND VISA ASPIRE CREDIT CARD, AND/OR ANY OTHER ACCOUNT ACCESS DEVICE. PLEASE BE
CERTAIN TO READ THIS AGREEMENT CAREFULLY AND NOTIFY US AT ONCE IF ANY PARTS ARE UNCLEAR.
DEFINITIONS. In this Agreement, the reference to "We," "Us," "Our" and "Credit Union" means TEXELL 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 VISA Platinum BONUS, VISA Signature
BONUS, or VISA Aspire Credit Card issued to You by Us and any duplicates or renewals. The word "Account" means the VISA Platinum BONUS, VISA Signature BONUS, or
VISA Aspire Credit Card Account established for You under this Agreement. "Convenience Check" means the special Account access devices that We may provide for Your
use from time to time. If this is a joint Account, read singular pronouns in the plural.
PROMISE TO PAY. You understand that the following terms and conditions 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, Convenience Checks, Credit Cards 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.
Variable Rate
Credit Card
Daily Periodic Rate
ANNUAL PERCENTAGE RATE
For Purchases
For Purchases
Index
Margin
VISA Platinum BONUS
%
%
VISA Signature BONUS
%
%
VISA Aspire
%
%
Variable Rate
Credit Card
Daily Periodic Rate
ANNUAL PERCENTAGE RATE
For Balance Transfers
For Balance Transfers
Index
Margin
VISA Platinum BONUS
%
%
VISA Signature BONUS
%
%
VISA Aspire
%
%
Variable Rate
Daily Periodic Rate
ANNUAL PERCENTAGE RATE
Credit Card
For Cash Advances
For Cash Advances
Index
Margin
VISA Platinum BONUS
%
%
VISA Signature BONUS
%
%
VISA Aspire
%
%
USE OF YOUR CARD. You may use Your Card to buy goods and services
than Your Credit Limit, You will have no credit available during any time that any
in any place that it is honored and to get cash advances at participating financial
aspect of Your Account is in default.
institutions. You agree not to use Your Card for illegal transactions including, but
not limited to, advances made for the purpose of gambling and/or wagering
JOINT ACCOUNTS. Each Borrower will be responsible, jointly and severally, for the
where such practices are in violation of applicable state and/or federal law.
repayment of any amounts owed. If any Account access device, such as a Personal
Identification Number (PIN) is requested and approved, You understand that any such
SECURITY. Collateral (other than household goods or any dwelling) given as
Account access device(s) will be mailed only to the primary Borrower at the address
security under any other loan You may have with Us will secure all amounts You
that We have on file for You. We may refuse to follow any instructions which run
owe Us now and in the future if that status is reflected in the "Truth-in-Lending
counter to this provision.
Disclosure" in any particular Agreement evidencing such debt.
MINIMUM MONTHLY PAYMENTS (PAYMENT SCHEDULE). Though You need only
ACCOUNT RESTRICTIONS VISA ASPIRE. In order to receive and maintain a VISA
pay the Minimum Monthly Payments, You understand that You have the right to repay
Aspire Credit Card, You have given Us a specific pledge of shares (Collateral) which is
at any time without penalty. You also understand that You will only be charged periodic
described above in the Security Agreement section of this Agreement. In the event that
Finance Charges to the date You repay Your entire balance. You may make larger
You default on Your Account, We may apply these shares toward the repayment of any
payments without penalty. Any partial payment or prepayment will not delay Your next
amount owed on Your VISA Aspire Credit Card. You may cancel Your VISA
scheduled payment. All payments to Us must be in lawful money of the United States.
Aspire Credit Card at any time by paying any amounts owed on such Account. You
Except as required by law, We may apply payments at Our discretion. Any unpaid portion
understand that all shares pledged as Collateral must remain on deposit at all times,
of the Finance Charge will be paid by subsequent payments and will not be added to
except to the extent that You repay all amount(s) You owe to Us and close Your Account.
Your principal balance. You understand that any delay in the repayment of Your unpaid
To be certain that Your entire balance and all advances are paid, the shares pledged
balance will increase Your periodic Finance Charges and any acceleration in the
may not be available to You for at least 30 days after You have cancelled and any
repayment of Your unpaid balance will decrease Your periodic Finance Charges.
outstanding balance is paid in full.
Minimum Monthly Payments will be an amount equal to 3.00% of Your new unpaid
LINE OF CREDIT LIMITS. You will be notified of each specific Credit Limit for which
Account balance at the end of each billing cycle, subject to the lesser of $25.00 or
You are approved. Unless You are in default, the Credit Limits established for You
Your balance, plus any portion of the Minimum Payments shown on prior statement(s)
will generally be self-replenishing as You make payments. You will keep Your
which remains unpaid, plus any amount that exceeds Your approved Credit Limit.
unpaid balance within Your Credit Limit set by Us, and You will pay any amount
over Your Credit Limit on Our demand whether or not We authorize the advances
You may authorize Us to charge Your payment directly to Your share or share
which caused You to exceed Your Credit Limit. Even if Your unpaid balance is less
draft account.
Copyright Oak Tree Business Systems, Inc., 2018-2019. All Rights Reserved.
Page 4 of 7
OTBS 045 TEXL (7/19)
FINANCE CHARGES. Finance charges on Your Account will accrue as set
VISA Signature BONUS - Introductory Rate on Balance Transfer Transactions.
forth below.
For VISA Signature BONUS, each balance transfer transaction obtained during the first
24 billing cycles following the date that Your Account is established will accrue Finance
VISA Platinum BONUS, VISA Signature BONUS, and VISA Aspire - Purchase
Charges at a discounted Introductory Daily Periodic Rate of
%
Transactions. In the case of any purchase transactions under Your Account, the
(corresponding ANNUAL PERCENTAGE RATE
%) for a period ending
balances subject to the periodic Finance Charge are the average daily transactions
with the 24th complete billing cycle following the date of Card issuance. Upon the
balances outstanding during the month (including new transactions). To get the
expiration of an Introductory Rate period, each such balance will be subject to the non-
average daily balance for purchases, We take the beginning balance for purchases
introductory Variable Rate described elsewhere in this Agreement. If Your Account was
each day, add any new purchases, debit adjustments or other charges and subtract
not subject to this Introductory Rate the balance for balance transfers would have
any payments credited to purchases, credits and unpaid Finance Charges. This gives
accrued Finance Charges at the Daily Periodic Rate and corresponding Annual
Us the daily balance for purchases. Then, We add up all the daily balances for
Percentage Rate described elsewhere in this Agreement.
purchases for the billing cycle being accounted for and divide them by the number of
days in the billing cycle. The Finance Charge for purchases for each billing cycle is
VISA Platinum BONUS, VISA Signature BONUS, and VISA Aspire Advance
computed by multiplying the average daily balance for purchases that is subject to a
Transactions. In the case of any cash advance transactions under Your Account, the
Finance Charge by the Daily Periodic Rate times the number of days in the
balances subject to the periodic Finance Charge are the average daily transactions
billing cycle.
balances outstanding during the month (including new transactions). To get the
average daily balance for cash advances, We take the beginning balance for cash
VISA Platinum BONUS, VISA Signature BONUS, and VISA Aspire Period
advances each day, add any new cash advances, debit adjustments or other charges
on Purchase Transactions. Your due date is at least 25 days after Your statement
and subtract any payments credited to cash advances, credits and unpaid Finance
closing date. You can avoid Finance Charges on purchases by paying the full amount
Charges. This gives Us the daily balance for cash advances. Then, We add up all the
of the entire balance owed each month by Your payment due date. Otherwise, the
daily balances for cash advances for the billing cycle being accounted for and divide
new balance of purchases, and subsequent purchases from the date they are posted
them by the number of days in the billing cycle. The Finance Charge for cash
to Your Account, will be subject to a Finance Charge.
advances for each billing cycle is computed by multiplying the average
daily balance for cash advances that is subject to a Finance Charge by the Daily
VISA Platinum BONUS Introductory Rate on Purchase Transactions. For VISA
Periodic Rate.
Platinum BONUS, each purchase transaction obtained during the first 6 billing cycles
following the date that Your Account is established will accrue Finance Charges at a
VISA Platinum BONUS, VISA Signature BONUS, and VISA Aspire - No Grace
discounted Introductory Daily Periodic Rate of
% (corresponding
Period on Cash Advance Transactions. Cash advances obtained through the use
ANNUAL PERCENTAGE RATE
%) for a period ending with the 6th
of Your VISA Platinum BONUS Credit Card, VISA Signature BONUS Credit Card,
complete billing cycle following the date of Card issuance. Upon the expiration of
and/or VISA Aspire Credit Card are always subject to a Finance Charge from the date
an Introductory Rate period each such balance will be subject to the non-
they are posted to Your Account.
introductory Variable Rate described elsewhere in this Agreement. If Your Account
was not subject to this Introductory Rate the balance for purchases would have
VARIABLE RATE. For VISA Platinum BONUS and VISA Signature BONUS, following
accrued Finance Charges at the Daily Periodic Rate and corresponding Annual
the expiration of the Introductory Rate period, all purchase and balance transfers
Percentage Rate described elsewhere in this Agreement.
transactions are subject to a Variable Rate which is based on the highest Prime Rate
as published in the Money Rates section of The Wall Street Journal in effect on the day
VISA Signature Introductory Rate on Purchase Transactions. For VISA
the Introductory Rate period expires, and subsequently, on the last day of each
Signature BONUS, each purchase transaction obtained during the first 6 billing cycles
calendar quarter of each year ("Index") plus Our Margin. The Index plus the Margin
following the date that Your Account is established will accrue Finance Charges at a
equals the Interest Rate. Changes in the Index will cause changes in the Interest Rate
discounted Introductory Daily Periodic Rate of
% (corresponding
on the day the Introductory Rate period expires, and subsequently, on the first day of
ANNUAL PERCENTAGE RATE
%) for a period ending with the 6th
the calendar quarter that immediately follows a change in the Index.
complete billing cycle following the date of Card issuance. Upon the expiration of
an Introductory Rate period each such balance will be subject to the non-
For VISA Platinum BONUS and VISA Signature BONUS, balances for cash advance
introductory Variable Rate described elsewhere in this Agreement. If Your Account
transactions are subject to a Variable Rate which is based on the highest Prime Rate as
was not subject to this Introductory Rate the balance for purchases would have
published in the Money Rates section of The Wall Street Journal in effect on the last day
accrued Finance Charges at the Daily Periodic Rate and corresponding Annual
of each calendar quarter of each year ("Index") plus Our Margin. The Index plus the
Percentage Rate described elsewhere in this Agreement.
Margin equals the Interest Rate. Changes in the Index will cause changes in the Interest
Rate on the first day of the calendar quarter that immediately follows a change in
VISA Platinum BONUS, VISA Signature BONUS, and VISA Aspire - Balance
the Index.
Transfer Transactions. In the case of any balance transfer transactions under Your
Account, the balances subject to the periodic Finance Charge are the average daily
For VISA Aspire, all balances are subject to a Variable Rate which is based on the
transactions balances outstanding during the month (including new transactions). To
highest Prime Rate as published in the Money Rates section of The Wall Street Journal
get the average daily balance for balance transfers, We take the beginning balance
in effect on the last day of each calendar quarter of each year ("Index") plus Our Margin.
for balance transfers each day, add any new balance transfers, debit adjustments or
The Index plus the Margin equals the Interest Rate. Changes in the Index will cause
other charges and subtract any payments credited to balance transfers, credits and
changes in the Interest Rate on the first day of the calendar quarter that immediately
unpaid Finance Charges. This gives Us the daily balance for balance transfers. Then,
follows a change in the Index.
We add up all the daily balances for balance transfers for the billing cycle being
accounted for and divide them by the number of days in the billing cycle. The Finance
For all Cards, increases or decreases in the Interest Rate will cause like increases or
Charge for balance transfers for each billing cycle is computed by multiplying the
decreases in the Finance Charge and will affect the amount of Your regularly scheduled
average daily balance for balance transfers that is subject to a Finance Charge by the
payments. Your Interest Rate will never be greater than 18.00% and will apply to Your
Daily Periodic Rate.
remaining principal balance.
VISA Platinum BONUS, VISA Signature BONUS and VISA Aspire - No Grace
LATE CHARGE. If Your payment is 3 or more days late, You will be charged the
Period on Balance Transfer Transactions. Balance transfers obtained through the
lesser of: (a) $25.00 (this amount will be $35.00 if You have incurred a late charge
use of Your VISA Platinum BONUS, VISA Signature BONUS, and VISA Aspire Credit
within 6 months of previously incurring a late charge); or (b) the amount of the
Cards are always subject to a Finance Charge from the date they are posted to
required minimum payment.
Your Account.
FOREIGN TRANSACTIONS. For transactions initiated in foreign countries and foreign
VISA Platinum Rate on Balance Transfer Transactions. For
currencies, the exchange rate between the transaction currency and the billing currency
VISA Platinum BONUS, each balance transfer transaction obtained during the first 6
(U.S. dollars) will be: (a) a rate selected by VISA from the range of rates available in
billing cycles following the date that Your Account is established will accrue Finance
wholesale currency markets for the applicable central processing date, which rate may
Charges at a discounted Introductory Daily Periodic Rate of
%
vary from the rate VISA itself receives; or (b) the government-mandated rate in effect for
(corresponding ANNUAL PERCENTAGE RATE
%) for a period ending
the applicable central processing date.
with the 6th complete billing cycle following the date of Card issuance. Upon the
expiration of an Introductory Rate period each such balance will be subject to the non-
OTHER FEES AND CHARGES. You will be charged the following fees associated
introductory Variable Rate described elsewhere in this Agreement. If Your Account
with the use of Your Card: (a) the lesser of $25.00 or the required minimum payment
was not subject to this Introductory Rate the balance for balance transfers would have
amount for the returned payment for any check (or other negotiable instrument used
accrued Finance Charges at the Daily Periodic Rate and corresponding Annual
for payment) which is returned unpaid; (b) $27.00 for each balance transfer check or
Percentage Rate described elsewhere in this Agreement.
balance transfer check that is submitted to Us for payment and We return unpaid; (c)
Copyright Oak Tree Business Systems, Inc., 2018-2019. All Rights Reserved.
Page 5 of 7
OTBS 045 TEXL (7/19)
except VISA Signature BONUS, $8.00 FINANCE CHARGE for each balance transfer
ENFORCEMENT. We do not lose Our rights under this or any related agreement if
not subject to an introductory rate; (d) for VISA Signature BONUS, a balance transfer
We delay enforcing them. We can accept late payments, partial payments or any
FINANCE CHARGE equal to the greater of $8.00 or 3.00% of each balance transfer
other payments, even if they are marked "paid in full" without losing any of Our
not subject to an introductory rate; (e) except VISA Signature BONUS, $8.00
rights under this Agreement. If any provision of this or any related agreement is
FINANCE CHARGE for each overdraft transfer; (f) except VISA Signature BONUS,
determined to be unenforceable or invalid, all other provisions remain in full force
$8.00 FINANCE CHARGE for each cash advance; (g) for VISA Signature BONUS,
and effect.
$15.00 FINANCE CHARGE for each cash advance; and (h) $5.00 for each
replacement Card You request.
NOTIFICATION OF ADDRESS CHANGE. You will notify Us promptly if You move or
otherwise have a change of address.
PERIODIC STATEMENTS. On a regular basis, You will receive a statement showing
all transactions on Your Account including amounts paid and borrowed since Your last
CHANGE IN TERMS. We may change the terms of this Agreement by mailing or
statement. We will deliver You a statement each month in which there is a debit or
delivering to You written notice of the changes as prescribed by the Federal Truth-
credit balance or when a Finance Charge is imposed. We need not send You a
In-Lending Act. To the extent permitted by law, the right to change the terms of this
statement if We feel Your Account is uncollectible or if We have started collection
Agreement includes, but is not limited to, the right to change the periodic rate
proceedings against You because You defaulted. EACH STATEMENT IS DEEMED
applicable to Your unpaid balance and/or future advances.
TO BE A CORRECT STATEMENT OF ACCOUNT UNLESS YOU ESTABLISH A
BILLING ERROR PURSUANT TO THE FEDERAL TRUTH-IN-LENDING ACT.
CREDIT INSURANCE. Credit insurance is not required for any extension of credit
under this Agreement. However, You may purchase any credit insurance available
OUR RESPONSIBILITIES TO HONOR CONVENIENCE CHECKS. We are under no
through Us and have the premiums added to Your outstanding balance. If You elect
obligation to honor any of Your Convenience Checks and may, at Our sole and exclusive
to do so, You will be given the necessary disclosures and documents separately.
option, refuse to pay any Convenience Check, regardless of Our reason for electing not
to pay such Convenience Check. You acknowledge that any such refusal to pay a
INTEGRATED DOCUMENTS. Any separate sheet of paper labeled "Additional
Convenience Check shall not constitute wrongful dishonor, and We are not responsible
Disclosure Federal Truth-In-Lending Act," which is delivered together with this
for any resulting loss or liability. If a postdated Convenience Check is paid and, as a
Agreement or at a later date becomes an integrated part of this Agreement
result, any other Convenience Check is returned unpaid, We are not responsible for any
and Disclosure.
resulting loss or liability.
CONSENT TO AGREEMENT. You acknowledge receipt of a copy of this Agreement.
DEFAULT. You will be in default if: (a) You do not make any payment or perform
By signing this Agreement or an application; or by using Your Account or any Account
any obligation under this Agreement, or any other agreement that You may have
access device; or by authorizing another to use Your Account, You agree to and
with Us; or (b) You should die, become involved in any insolvency, receivership or
accept its terms.
custodial proceeding brought by or against You; or (c) You have made a false or
misleading statement in Your credit application and/or in Your representations to
UPDATING AND DISCLOSING FINANCIAL INFORMATION. You will provide facts
Us while You owe money on Your Account; or (d) A judgment or tax lien should be
to update information contained in Your original Account application or other financial
filed against You or any attachment or garnishment should be issued against any
information related to You, at Our request. You also agree that We may, from time to
of Your property or rights, specifically including anyone starting an action or
time, as We deem necessary, make inquiries pertaining to Your employment, credit
proceeding to seize any of Your funds on deposit with Us; and/or (e) We should, in
standing and financial responsibility in accordance with applicable laws and
good faith, believe Your ability to repay Your indebtedness hereunder is or soon
regulations. You further agree that We may give information about the status and
will be impaired, time being of the very essence.
payment history of Your Account to consumer credit reporting agencies, a prospective
employer or insurer, or a state or federal licensing agency having any apparent
Upon any occurrence of default, and to the extent permitted by law, We may, without
legitimate business need for such information.
prior notice or demand: (a) declare the entire balance owed under this Agreement
immediately due and payable; and (b) impress and enforce the Consensual Lien on
TERMINATION. Either You or We may cancel Your Account at any time, whether or
Your shares and dividends with Us; and (c) if applicable, setoff any Collateral pledged.
not You are in default. You will, in any case, remain liable to pay any unpaid balances
Any resulting deficiency owed under this Agreement shall be immediately paid to the
according to the terms of Your Account.
Credit Union. We can also exercise any other rights We hold under applicable law. To
the extent permitted by law, You waive any right You have to demand for payment,
OWNERSHIP. Your Card remains Our property and may be cancelled by Us at any
notice of intent to accelerate and notice of acceleration.
time without notice. You agree to surrender Your Card and to discontinue its use
immediately upon Our request.
ARBITRATION (Except for Credit Subject to the Military Lending Act (MLA)). In
the event of default under this Agreement, We may, at Our sole and exclusive option,
ISSUANCE OF A PERSONAL IDENTIFICATION NUMBER. We will issue, upon Your
pursue Our remedies by filing a legal action to recover any amounts owed under this
request, a Personal Identification Number (PIN) for use with participating Automated
Agreement, or We may initiate arbitration proceedings.
Teller Machines (ATMs). This PIN is confidential and should not be disclosed to
anyone. You may use Your PIN to access Your Account and all sums advanced will
If We elect arbitration to resolve any controversy or claim arising out of Your default
be added to Your Account balance. In the event a use of Your PIN constitutes an
under this Agreement, such arbitration shall be administered by the American
Electronic Fund Transfer, the terms and conditions of Your Electronic Fund Transfer
Arbitration Association in accordance with its Arbitration Rules, and judgment on
Agreement may also affect Your rights.
the award rendered by the arbitrator(s) may be entered in any court having
jurisdiction thereof. Claims shall be heard by a single arbitrator. The arbitration shall
EFFECT OF AGREEMENT. Even though the sales, cash advance, credit or other slips
be governed by the laws of the state in which Our principal office is located, and
You may sign or receive when using Your Card contain terms, this Agreement is the
arbitration shall take place in the area in which Our principal office is located. Time
contract which solely applies to all transactions involving the Card.
is of the essence for any arbitration under this Agreement. Arbitration hearings shall
take place within 90 days of the request for arbitration, and awards shall be
UNAUTHORIZED USE. You may be liable for the unauthorized use of Your Card. You
rendered within 60 days of the conclusion of the arbitration proceedings.
will not be liable for the unauthorized use that occurs after You notify Us of the loss, theft,
Arbitrator(s) shall agree to these limits prior to accepting appointment. The
or possible unauthorized use by calling Us at (254) 773-1604. You may also notify Us of
arbitrators will have no authority to award punitive or other damages not measured
the loss, theft, or possible unauthorized use by writing to Us at P.O. Box 983, Temple,
by the prevailing party's actual damages, except as may be required by statute. The
TX 76503. In any case, Your liability will not exceed $50.00.
arbitrator(s) shall award to the prevailing party, if any, as determined by the
arbitrators, all of their costs and fees. "Costs and fees" mean all reasonable pre-
PRE-AUTHORIZED RECURRING CHARGES. You may, from time to time, establish
award expenses of the arbitration, including the arbitrators' fees, administrative
preauthorized recurring charges be made on Your Account. You understand
fees, travel expenses, out-of-pocket expenses such as copying and telephone,
that any such preauthorized recurring charges will continue unless discontinued
court costs, witness fees, and attorneys' fees. Except as may be required by law,
by You directly with the service provider with whom You preauthorized the
neither a party nor an arbitrator may disclose the existence, content, or results of
recurring charge.
any arbitration hereunder without the prior written consent of both parties. All parties
hereby waive and give up all rights to a jury trial or class action relief.
To ensure that recurring preauthorized charges established and authorized by You
are not interrupted in the event that Your Card or other Access Device is reissued,
COLLECTION COSTS. In the event collection efforts are required to obtain payment
We may, but are under no obligation to do so, enroll Your account in automatic
on this Account, to the extent permitted by law, You agree to pay all court costs,
account information update services that communicate new Card/Access Device
private process server fees, investigation fees or other costs incurred in collection and
information to the service providers with whom You have established preauthorized
reasonable attorneys' fees incurred in the course of collecting any amounts owed
recurring charges, the purpose of which is to ensure charges You authorize
under this Agreement or in the recovery of any Collateral.
continue without interruption.
Copyright Oak Tree Business Systems, Inc., 2018-2019. All Rights Reserved.
Page 6 of 7
OTBS 045 TEXL (7/19)
REFUSAL TO HONOR CARDS OR CONVENIENCE CHECKS. We are not liable
What To Do If You Find A Mistake On Your Statement
for the refusal or inability of merchants, financial institutions and others to accept
the Cards or Convenience Checks, or electronic terminals to honor the Cards
If You think there is an error on Your statement, write to Us at P.O. Box 983, Temple,
or complete a Card withdrawal, or for their retention of the Cards or
TX 76503. In Your letter, give Us the following information:
Convenience Checks.
Account information: Your name and Account number.
Dollar amount: The dollar amount of the suspected error.
TRANSACTION SLIPS. Your monthly statement will identify that merchant,
Description of problem: If You think there is an error on Your bill, describe what
electronic terminal or financial institution at which transactions were made, but
You believe is wrong and why You believe it is a mistake.
sales, cash advance, credit or other slips cannot be returned with the statement.
You must contact Us:
LOST CARDS OR CONVENIENCE CHECKS. To report lost or stolen Credit Cards
or Convenience Checks, You will immediately call Us at (254) 773-1604. You may
Within 60 days after the error appeared on Your statement.
also report lost or stolen Credit Cards or Convenience Checks by writing to
At least 3 business days before an automated payment is scheduled, if You want
Us at P.O. Box 983, Temple, TX 76503. In any case, Your liability will not
to stop payment on the amount You think is wrong.
exceed $50.00.
You must notify Us of any potential errors in writing. You may call Us, but if You do
CREDITS. If a merchant who honors Your Card gives You credit for returns or
adjustments, they will do so by sending Us a slip which will be posted to Your Account.
We are not required to investigate any potential errors and You may have to pay the
If Your credits and payments exceed what You owe Us, We will hold and apply this
amount in question.
credit against future purchases and cash advances, or if it is $1.00 or more refund it
on Your written request or automatically deposit it to Your share account after
What Will Happen After We Receive Your Letter
6 months.
When We receive Your letter, We must do two things:
GOVERNING LAW. This Agreement is controlled and governed by the laws of the
State of Texas, except to the extent that such laws are inconsistent with controlling
1)
Within 30 days of receiving Your letter, We must tell You that We received Your
federal law.
letter. We will also tell You if We have already corrected the error.
2)
Within 90 days of receiving Your letter, We must either correct the error or
ELECTRONIC COMMUNICATIONS. You authorize Us to send You, from time
explain to You why We believe the bill is correct.
to time, and to the extent permitted by applicable law, electronic communications
regarding the status of any share, share draft, and/or certificate account(s) You
While We investigate whether or not there has been an error:
maintain with Us. You also authorize Us to send You electronic communications
We cannot try to collect the amount in question, or report You as delinquent on
regarding any other accounts You may maintain with Us from time to time
that amount.
including, but not limited to, loan accounts, credit line accounts, and credit card
The charge in question may remain on Your statement, and We may continue
accounts. These electronic communications are sometimes referred to as
to charge You interest on that amount.
"transactional or relationship messages."
While You do not have to pay the amount in question, You are responsible for
the remainder of Your balance.
You authorize Us to contact You using any wireless, cellular, mobile or other
We can apply any unpaid amount against Your Credit Limit.
telephone number You have provided to Us on Your membership application, and
at any wireless, cellular, mobile or other telephone number You may furnish to Us
After We finish Our investigation, one of two things will happen:
or We obtain for You in the future. To the extent permitted by law, We may contact
You using any electronic means We choose, which may include but is not limited
If We made a mistake: You will not have to pay the amount in question or any
to, voice messages, text messages and other similar electronic methods of
interest or other fees related to that amount.
communication. If You have furnished Us with any e-mail address(es), You
If We do not believe there was a mistake: You will have to pay the amount in
understand and agree that We may send You e-mail messages regarding Your
question, along with applicable interest and fees. We will send You a
Account(s) with Us from time to time. If You have executed or subsequently
statement of the amount You owe and the date payment is due. We may then
execute any separate Disclosure and Consent to Receive Electronic Documentation
report You as delinquent if You do not pay the amount We think You owe.
or similar form, any communications covered by such Disclosure and Consent
shall be subject to the terms and conditions set forth in that document.
If You receive Our explanation but still believe Your bill is wrong, You must write to
Us within 10 days telling Us that You still refuse to pay. If You do so, We cannot
You understand that the nature of electronic communications is such that
report You as delinquent without also reporting that You are questioning Your bill.
anyone with access to Your wireless, cellular, mobile or other telephonic device
We must tell You the name of anyone to whom We reported You as delinquent, and
or e-mail may be able to read or listen to such transactional or relationship
We must let those organizations know when the matter has been settled between
messages from Us, and You agree that any person or party sending or leaving
Us. If We do not follow all of the rules above, You do not have to pay the first $50.00
such messages shall have no liability for any consequences resulting from the
of the amount You question even if Your bill is correct.
interception of such messages by any other party. Without limitation, You also
agree that You are responsible to pay all costs that You may incur as a result
Your Rights If You Are Dissatisfied With Your Credit Card Purchases
of any contact method We choose including, but not limited to, charges for
telecommunications, wireless and/or internet charges.
If You are dissatisfied with the goods or services that You have purchased with Your
Credit Card, and You have tried in good faith to correct the problem with the merchant,
CONSENT TO CONTACT AGREEMENT. You agree that We may, subject
You may have the right not to pay the remaining amount due on the purchase. To use
to applicable law, initiate telephone calls to any residential line (wireline
this right, all of the following must be true:
service), cellular telephone service, or other wireless service associated with
Your Account through use of pre-recorded or artificial voice messages and/or
1)
The purchase must have been made in Your home state or within 100 miles of
the use of automatic telephone dialing systems, in order for Us to service
Your current mailing address, and the purchase price must have been more than
Your Account, prevent fraud, collect any amounts owed to Us by You, and
$50.00. (Note: Neither of these are necessary if Your purchase was based on
otherwise conduct Our business with You. If You furnish Us with one or more
an advertisement We mailed to You, or if We own the company that sold You
cellular telephone numbers in connection with Your Account, You represent
the goods or services.)
You are or will be the cellular telephone subscriber with respect to each such
number, and that Your consent extends to all such numbers You provide to
2)
You must have used Your Credit Card for the purchase. Purchases made with
cash advances from an ATM or with a check that accesses Your Credit Card
Us. You understand that the telephone calls We may initiate may result in
charges to You by any cellular telephone, internet, or other digital or
account do not qualify.
electronic service to which You subscribe, and You understand and agree
3)
You must not yet have fully paid for the purchase.
that You are solely responsible for the payment of any such charges.
If all of the criteria above are met and You are still dissatisfied with the purchase,
contact Us in writing at P.O. Box 983, Temple, TX 76503.
Your Billing Rights: Keep this Document for Future Use
While We investigate, the same rules apply to the disputed amount as discussed
This notice tells You about Your rights and Our responsibilities under the Fair
above. After We finish Our investigation, We will tell You Our decision. At that point,
Credit Billing Act.
if We think You owe an amount and You do not pay, We may report You as delinquent.
Copyright Oak Tree Business Systems, Inc., 2018-2019. All Rights Reserved.
Page 7 of 7
OTBS 045 TEXL (7/19)