INTRODUCTION
This agreement covers your Visa Debit Card issued through Food Industries Credit Union. In this agreement, the term “card” means the Visa Debit Card services as approved for you by the Credit Union. The words “you” and “yours” mean those who sign as applicants, any authorized users, or the person whose name is embossed on the Card. The words “we”, “us” and “our” mean Food Industries Credit Union.
By accepting, signing, or using the Card, or any other Card issued for this account, you and all whom you authorize to use it agree to be bound by the terms of this agreement, just as if you and they had signed it.
LIABILITY
If a card is issued to you and others on a joint application, each use of the card shall be a debit or extension of credit to all, and each of you shall be jointly and severally liable. If you allow anyone else to use your card, you will be liable for all debts or extensions of credit to such person.
OWNERSHIP OF CARDS-TERMINATION OF AGREEMENT
Any card or other credit instrument or device which we supply to you is our property and must be returned to us or our agent immediately upon demand. We may terminate or suspend your card/credit privileges under this agreement, at any time at our sole discretion, without demand or notice. You may terminate this agreement by notifying us in writing. If either you or we terminate or suspend your credit privileges under this agreement at any time, the provisions of this agreement and your liability hereunder shall otherwise remain in full force and effect until you have paid us all sums due us.
USE
You may use your Visa Debit Card to buy goods and services any place your Visa card is honored. In addition, you may use your card to obtain cash advances from automated teller machines (ATMs) and such other machines or facilities as we may designate from time to time. The funds to cover your Visa Debit Card transactions will be deducted from your checking account or savings account. You may, at the present time, withdraw cash from your checking account and primary savings account at ATM locations.
RESPONSIBILITY
By authorized use of your Visa Debit Card, you agree: (a) to pay all debits and amounts borrowed under this agreement, plus any finance charge or any other amounts due according to the terms and conditions of this agreement; (b) to abide by the rules and regulations as from time to time amended for the Credit Union and
ATM systems relating to the use of this card: (c) that the Credit Union and the ATM systems may follow all instructions given to the machines; (d) that the card is the property of the Credit Union and will be delivered to the Credit Union immediately upon request. Failure to do so shall result in a capture fee assessed by our assigns; (e) the use of the card may be determined or restricted by the Credit Union at any time without notice; (f) the personal identification number (PIN) is confidential and you agree not to disclose it to third parties, record it on your card, or store it in the
proximity of your card, disguised or otherwise.
CHANGE IN AGREEMENT
You agree that we may change any terms of this agreement by sending you written notice of the change at least fourteen (14) days before the change will take effect.
FEES AND CHARGES
Card Fee A $5.00 annual, per card fee will be charged to your account. Late Payment Fee If you do not pay the Minimum Payment within ten (10) days after Payment Due Date, you may be subject to a single late payment charge of 10% of the minimum payment due ($5.00 minimum, $25.00 maximum). Collection Costs We may pay someone else to help collect your account if you do not pay. You agree to pay us that amount. This includes all collection costs, court costs, disbursements and reasonable attorneys fees, whether or not there is a lawsuit, including fees on any appeal. Research and Copying If you ask us to examine your account or provide copies of documents, except in resolution of a billing error, we may charge you $2.00 for each copy and $30.00 per hour for the research. Over Limit Fee A $20.00 charge may be assessed to your account for each transaction which exceeds your established Personal Line Of Credit Account Limit. Additional Card Fee $5.00 charge for each additional or replacement card you request.
Electronic Funds Transaction You will be charged $.75 for each ATM withdrawal transaction and each inquiry transaction at ATM machines not owned or shared by the Credit Union. There is no transaction fee on ATMs owned or shared by FICU. Overdraft Protection Fee A $5.00 charge may be assessed to your account for advances on your Personal Line of Credit Account to cover NSF checks.
OVERDRAFT PROTECTION ACCOUNT
If you use your Visa Debit and overdraw your checking account with us, we may honor each transaction. However, we will treat the overdraft as a loan request and will access your Personal Line Of Credit Account. Your Personal LOC Account will cover overdrafts up to a maximum of your approved limit. You agree not to let the account balance exceed the approve limit. Each payment you make on the account will restore your limit by the amount of the payment that is applied to principal.
MONTHLY PAYMENT
We will mail you a statement every month showing your previous balance, the current overdraft transactions on your account, the total new balance, and the minimum payment required. Every month you must pay on or before the due date shown on your monthly statement. You may, of course, pay more frequently and you will reduce the Finance Charge by doing so. The minimum payment due on your Personal Line of Credit must be paid each month, including principal, interest and late fee, if any. The Credit Union reserves the right to terminate your card privileges under this agreement, if at any time you fail to pay the minimum payment by the payment due date. We will apply your payments first to the Finance Charge, late fees, if any, and then to the principal balance.
FINANCE CHARGES
A Finance Charge will be imposed upon the unpaid daily outstanding balance of your Personal Line Of Credit Account. You will pay the Credit Union a Finance Charge calculated by multiplying your unpaid daily outstanding balance by a daily Periodic Rate and totaling the results for each day on which you have an outstanding balance. To determine your unpaid daily balance, we take your beginning balance each day, add any new advances and subtract any payments, credits and unpaid Finance Charges. Your Personal Line of Credit advances will start to accrue Finance Charge as of the date the advance is made. There is no time within which to pay in order to avoid this Finance Charge. Payments reduce your account balance as of the date the Credit Union receives the money.
ANNUAL PERCENTAGE RATE—PERIODIC RATE
The Annual Percentage Rate is 14.9%. The Daily Periodic Rate is .03260%. The Annual Percentage Rate is subject to change at the sole discretion of the Credit Union Board of Directors and subject to the Change in Terms Provision of this Agreement. An increase or decrease in the Annual Percentage Rate will result in an increase or decrease in the amount of payments necessary to pay the account balance.
LOST CARD NOTIFICATION
If you believe your card has been lost or stolen, you will immediately call the credit union. You understand that your total Checking Account and Personal Line of Credit Account liability to the credit union shall not exceed $50.00 for any card transactions resulting from the loss, theft, or unauthorized use of the card that occurs after the time you give notice to the Credit Union.
SECURITY INTEREST
To secure your account, you grant us a purchase money security interest under the Uniform Commercial Code in any goods you purchased under this account. If you default, we have the right to recover any of these goods which have not been paid for through our application of payments in the manner described in Article 6. lf you sign the application, you grant us a security interest in all existing and future funds in your Savings, Checking, and Certificate Accounts with the Credit Union. You agree that collateral securing other Credit Union loan accounts, will also secure your Visa Debit Personal Line of Credit Account.
TRANSFER OF ACCOUNT
You can not transfer your Account to any other person.
IRREGULAR PAYMENTS
We can accept late and/or partial payments, or checks and money orders marked “payment if full”, without prejudice to our rights under this Agreement, which are hereby explicitly reserved.
DELAY IN ENFORCEMENT
We can delay enforcing any right under this Agreement without losing that right or any other right.
LIMITATIONS ON FREQUENCY AND DOLLAR AMOUNT TRANSACTIONS
You may make any number of transactions in one business day. The limits on the amount of funds you may access is equal to your available account balances. Cash withdrawals from ATMs is limited to a maximum of $200 per day.
BUSINESS DAYS
Our business hours are:
Monday through Thursday 9:00 a.m. to 5:00 p.m.
Friday 10:00 a.m. to 6:00 p.m.
INFORMATION AND DISCLOSURES
We will disclose information to third parties about your account or the transfers you make: (a) where it is necessary for completing transfers, or (b) in order to verify the existence and condition of your account to a third party, such as a credit bureau or merchant, or (c) in order to comply with laws, government agency rules or orders or court orders, or (d) if you give us your written permission.
RIGHT TO RECEIVE DOCUMENTATION
Receipts for Terminal Transactions. We will make available a receipt at the time you complete any transactions using an automated teller machine.
Periodic Statements. We will mail or deliver to you monthly checking account statements.
LIABILITY FOR FAILURE TO MAKE TRANSFERS
If we do not properly complete a transfer to or from your account according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance: (1) if, through no fault of ours, you do not have enough money in your account to complete the transaction; (2) if the terminal where you are making the transaction does not have enough cash; (3) if you use the wrong personal identification number (PIN); (4) if the terminal was not working properly and you knew about the breakdown when you started the transfer; (5) if you use a damaged or expired card or a card that has been reported lost or stolen; (6) if the account from which you have attempted to make a withdrawal has been closed; (7) if the transactions on your overdraft credit account would place your account over your established credit limit; or (8) if circumstances beyond our control (such as fire or flood) prevent completion of transaction, despite reasonable precautions that we have taken.
LIABILITY FOR UNAUTHORIZED TRANSACTIONS
Tell us AT ONCE if you believe your card has been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account UP TO $500.00. If you notify the credit union within two (2) business days, you can lose no more than $50.00 if someone used your card without permission. If you do not tell us within two (2) business days after you learn of the loss or theft of your Card, and we can prove that we could have stopped someone from using your Card without your permission if you had told us, you could lose as much as $500.00. Also, if your statement shows transactions that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip. or a hospital stay), kept you from telling us, we may extend time periods.
REPORTING UNAUTHORIZED TRANSFERS
If you believe your card or PIN has been or may be used by someone without your permission or has been lost or stolen, call us immediately:
During Business Hours 800-452-6021 or 541-741-2605
After Business Hours 800-682-6075
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 bill. If you think your bill is wrong, or if you need more information about a transaction on your bill, write us on a separate sheet and mail to:
FOOD INDUSTRIES CREDIT UNION
P.O. Box 7245
Eugene, Or 97401
Write to us as soon as possible. We must hear from you no later than 60 days after we sent you the first bill on which the error or problem appeared. You can telephone us, but doing so will not preserve your rights. In your letter, give us the following information:
1) Your name and account number.
2) 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. If you have authorized us to pay your bill automatically from your saving or checking account, you can stop the payment on each amount you think is wrong. To stop the payment your letter must reach us three business days before the automatic payment is scheduled to occur.
Your Rights and Our Responsibilities After We Receive Your Notice
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 bill is 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 bill that are not in question. If we find we made a mistake on your bill, 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 it is due. If you fail to pay the amount that we think you owe, we may report you as delinquent. However, if our explanation does not satisfy you and you write to us within ten days telling us that you still refuse to pay, we must tell anyone we report you to that you have a question about your bill. And, we must tell you that 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 can’t collect the first $50.00 of the questioned amount even if your bill was correct.
Special Rule for Debit Card Purchases
If you have a problem with the quality of property or services that you purchased with a Debit 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 on this right: (a) You must have made the purchases in your home state or, if not within your home state, within 100 miles of your current mailing address; and (b) The purchase price must have been more than $50.00. These limitations do not apply if we own or operate the merchant, or if we mailed you the advertisement for the property or services.
Equal Housing Lender
Federally Insured by: National Credit Union Administration