| LATE CHARGES: If
you are 10 days late in making a payment, you will
be charged 5% of your payment with a minimum of
$10.00 and a maximum of $35.00. |
| COLLECTION COSTS:
You promise to pay all costs of collecting the
amount you owe under this agreement including court
costs and reasonable attorney fees. |
| ***CERTIFICATE SECURED:The ANNUAL
PERCENTAGE RATE (APR) will be the rate
being paid on the certificate being offered as
security (the Index) plus 1%. When the certificate
is renewed, the APR will immediately
change to reflect the new interest rate. Any
increase in the APR will result, in the Credit
Union's sole discretion, in an increase in your
minimum periodic payment amount or in more payments
of the same amount until what you owe has been
paid. Your Daily Periodic Rate, APR and
minimum periodic payment will be disclosed to
you at the time of the advance. The certificate
must be renewed until the advance is completely
paid; failure to do so will result in default
under the plan. |
| **SHARE SECURED:
The ANNUAL PERCENTAGE RATE will
be the rate being paid on the Share account (the
Index) plus 1%. You may not withdraw or transfer
the Share account until the entire balance of
the share-secured advance plus any related fees
and and charges have been paid. If the dividend
rate on the Share account changes, the APR will
immediately change to reflect the new dividend
rate. Any increase in the APR will
result, in the Credit Union's descretion, in an
increase in your minimum periodic payment amount
or in more payments of the same amount until what
you owe has been paid. The daily periodic rate
as of 03/09/06 is 3.75%, which is an 0.0102740% ANNUAL
PERCENTAGE RATE. Your Daily Periodic
Rate, APR and minimum periodic payment will
be disclosed to you at the time of the advance. |
| The APR will never
be lower than 3.75% at any given time. |
CREDIT CARD
INFORMATION:
Finance Charges. Finance
charges on your Account are calculated by applying
the applicable monthly Periodic Rate to the average
daily balances for purchases, cash advances and balance
transfers. Separate average daily balances are calculated
for purchases, cash advances and balance transfers.
If you have a Visa Classic Account, the FINANCE
CHARGE on purchases, cash advances and balance
transfers is calculated at the monthly Periodic Rate
of 0.908% which is an ANNUAL PERCENTAGE RATE of
10.9%. If you have a Visa Platinum Account, the FINANCE
CHARGE on purchases and cash advances will
be calculated at the monthly Periodic Rate of 0.658%
which is an ANNUAL PERCENTAGE RATE of
7.9%. To get each average daily balance, the daily
balances for purchases and cash advances for the
billing cycle are added and the totals are divided
by the number of days in the cycle. To get the daily
balance for cash advances, new cash advances are
added to the day's beginning balance and payments
and credits are subtracted. To get the daily balance
for purchases, new purchases are added to the day's
beginning balance and payments and credits are subtracted.
Fees and unpaid finance charges are not included
in the calculation of the average daily balance.
Finance charges will continue to accrue on your Account
until what you owe under this Agreement is paid in
full.
To avoid incurring an additional FINANCE
CHARGE on the balance of Cash Advances
and Credit Purchases reflected on your monthly
statement, you must pay the New Balance shown
on or before the end of the 25-day grace period.
Other Fees. The following other
charges will be added to your Account as applicable:
1. Over-the-limit fee. Your
Account will be charged an over-the-limit fee
of $20.00 each time your New Balance as of a
billing cycle closing date exceeds your credit
limit.
2. Replacement Fees. If your
Card or PIN is lost, misplaced, forgotten, destroyed
or stolen, you must pay a $5.00 fee for the replacement
of the Card or PIN.
3. Late Fees. If you are more
than ten (10) days late in making the minimum
monthly payment on your Account, your Account
will be charged a late fee of $20.00.
4. Return Check Fee. If you
make any payment on your Account with a check
or draft and that check/draft is returned to
Credit Union unpaid for any reason, your account
will be charged a fee of $20.00.
5. Non-Usage Fee. If you do
not use your Card at least one (1) time per year,
you will be charged a $10.00 non-usage fee to
maintain the Account in an open status. If you
choose, you can forego the non-usage fee by surrendering
the Card(s) and closing the Account.
Payment. The minimum monthly
payment on the Account is (a) 2% of your New
Balance, rounded to the nearest dollar, or $10.00,
whichever is greater (b) plus any amount
past due (c) plus late charges (d) plus any
amount you are over your credit limit. Credit Union
also has the right to demand immediate payment
of any amount by which you are over your credit
limit. Each month you must pay at least the minimum
payment shown on your statement by the payment
due date specified on the statement. You may pay
more frequently, pay more than the minimum payment
or pay the entire New Balance in full at any time
without penalty. If you make extra or larger payments,
you are still required to make at least the minimum
payment each month your Account has a balance (other
than a credit balance).
Payment Application. Subject
to applicable law, your payments may be applied
to what you owe Credit Union in any manner the
Credit Union chooses.
Default. You will be in default
if you fail to make minimum payment or other
required payment by the date that it is due.
You will be in default if you do not comply with
any term of this Agreement. You will be in default
if you die, file for bankruptcy or become insolvent,
i.e., unable to pay your obligations when they
become due. You will be in default if you make
any false or misleading statements in any credit
application or credit update delivered to Credit
Union for any loan or line of credit. You will
be in default if something happens that the Credit
Union believes may substantially reduce your
ability to repay what you owe. When you are in
default, the Credit Union has the right to demand
immediate payment of your full Account balance
without prior notice to you. If immediate payment
is demanded, you agree to continue paying finance
charge, at the periodic rate charged before default,
until what you owe has been paid. You agree to
indemnify Credit Union for any amounts, including
but not limited to expenses, court costs and
attorney fees, incurred by Credit Union as a
result of your default or failure to comply with
any term of this Agreement. |
