ABCO FEDERAL CREDIT UNION

OLYMPIC VISA® PROGRAM

Credit Card Agreement

Notice:

See reverse side for important information regarding your rights to dispute billing errors.

A table that includes the APRs and other required cost disclosures are on the addendum attached to this Agreement.

In this Agreement the words “you” and “your” mean each and all of those who agree to be bound by this Agreement; “Card” means the VISA credit card and any duplicates, renewals, or substitutions the Credit Union issues to you; “Account means your VISA credit card line of credit account with the Credit Union. We, Us, Ours, and “Credit Union”, means the Credit Union whose name appears on this Agreement or anyone to whom the Credit Union transfers this Agreement.

  1. Using Your Account: If you are approved for an Account, the Credit Union will establish a line of credit for you and notify you of your credit limit. You agree that your credit limit is the maximum amount (purchases, cash advances, finance charges, plus “other charges”) which you will have outstanding on your account at any time. If you are over your credit limit, you must pay the amount you are over before payments will begin to restore your credit limit. You may request an increase in your credit limit only by a method acceptable to the credit union. The credit union has the right to reduce your credit limit, refuse to make an advance and/or terminate your account at any time for any reason not prohibited by law.
  2. Responsibility: If we issue you a card, you agree to repay all debts and the FINANCE CHARGE arising from the use of the card and the card account. For example, you are responsible for charges made by anyone else to whom you give the card, and this responsibility continues until the card is recovered. You cannot disclaim responsibility by notifying us, but we will close the account for new transactions if you so request and return all cards. Your obligation to pay the account balance continues even though an agreement, divorce decree or other court judgment to which we are not a party may direct you or one of the other persons responsible to pay the account.
  3. Using Your Card: You understanding that the use of your credit card will constitute acknowledgement of receipt and agreement to the terms of the credit card agreement. You may use your card to make purchases from merchants and others who accept Visa cards. However, you may not use your card to initiate any type of gambling transactions. If you wish to pay for goods or services over the Internet, you may be required to provide card number security information before you will be permitted to complete the transaction. In addition, you may obtain cash advances from the credit union and from other financial institutions that accept Visa cards, and from some automated teller machines ATMs. (Not all ATMs accept Visa cards.) To obtain cash advances from an ATM, you must use the personal identification number (PIN) issued to you for use with your card. You agree that you will not use our card for any transaction that is illegal under applicable federal, state or local law.
  4. Joint Accounts:If you are a co-signor or if this is a joint account, each person on the account must sign the Agreement by signing the Loan Application. You agree to be individually and jointly responsible with the other borrower or borrowers. Each of you authorizes the other(s) to obtain advances and make purchases individually under this Visa Account. We do not have to notify you if payments on the account are not made by the other borrower on time. We can change the terms of payment and release of any security without notifying you or releasing you from responsibility on this Agreement. If this is a joint account, upon request by any party to the account or upon our receipt of inconsistent instructions, we may, at our option and without notice to any other party, refuse any request for an advance or an increase in the credit limit amount, or refuse any other request with respect to the account.
  5. Liability for Unauthorized Use - Lost/Stolen Card Notification: You agree to notify us immediately, orally or in writing at P.O. Box 247, Rancocas, NJ 08073 or Telephone 1-800-225-1859; Evenings or Weekends call 1-800-453-4270 or by E-mail to of the loss, theft, or unauthorized use of your credit card. You may be liable for the unauthorized use of your credit card. You will not be liable for unauthorized use that occurs after you notify us of the loss, theft, or possible unauthorized use. You will have no liability for unauthorized purchases made with

your credit card, unless you are grossly negligent in the handling of your credit card.

  1. Changing This Agreement: The Credit Union may change the terms of this agreement from time to time. Notice of any change will be given in accordance with applicable law. If permitted by law and specified in the notice to you, the change will apply to your existingAccount balance as well as to future transactions; we may also reissue a different card, or account number at any time.
  2. Termination: By giving you notice in accordance with applicable law,the Credit Union may terminate this Agreement at any time. By notifying us in writing, you may also terminate this Agreement at any time, but termination by either of us will not affect your obligation to pay the Account balance plus any finance and other charges you owe under this Agreement. You are also responsible for all transactions made under this Agreement. You are also responsible for all transactions to your Account after termination, unless the transactions were unauthorized. The cards remain our property and you must recover and surrender to us all cards upon our request and upon termination of this Agreement.
  3. Monthly Payment: Every month you must pay at least the minimum payment required by the due date. You may of course, pay more frequently, pay more than the Minimum Payment, or pay the total balance in full, and you will reduce the FINANCE CHARGE by doing so. The Minimum Payment will be either (a) 2% of your Total New Balance, or $20.00, whichever is greater, or (b) your Total New Balance, if it is less that $20.00 plus (c) any portion of the Minimum Payment(s) shown on prior statement(s) which remains unpaid. In addition, at any time your Total New Balance exceeds your Credit line, you must immediately pay the excess upon our demand. We will apply your payments first to the previously billed and unpaid FINANCE CHARGE ON PURCHASES, then to cash advances; and then to new purchases, whether or not billed on the monthly statement. However, any payment equal to or greater than the Previous Balance of Purchase will be applied first to that balance and any FINANCE CHARGE thereon so as to avoid continuing accrual of the FINANCE CHARGE on that amount.
  4. Finance Charge on Purchases: You can avoid a FINANCE CHARGE on purchases by paying the full amount of the Current Balance each month on or before the Payment Due Date. The first time a payment is made after the Payment Due Date, a FINANCE CHARGE will be incurred for both the Prior Month’s Average Balance and the Current Month’s Average Balance on the next billing statement. FINANCE CHARGES will continue to be incurred up to the month after the balance has been paid in full.
  5. Finance Charge on Cash Advances: Cash advances (balance transfers are treated as cash advances) are always subject to a FINANCE CHARGE from the date they are posted to your account. FINANCE CHARGE (interest) is calculated on the average daily principal balances of purchases and cash advances in the account. The principal balance of purchases and cash advances are determined each day during the statement period beginning with the principal portion of your Previous Balances, reduced by payments you make and credits we apply, and increased by purchases and cash advances you make and debit adjustments we make during the statement period, the daily principal balance are totaled, and divided by the number of days in the statement period, to produce separate average daily principal balances for purchases and cash advances to which the periodic rate is then applied.
  6. Annual Percentage Rate (APR): The Annual Percentage Rates are disclosed on an addendum to this agreement. The interest rate you receive is based upon our Olympic Risk-Based Lending Policies. You will be notified by mail of your approved credit limit and the interest rate for which you qualify. Use of the card(s) shall be deemed acceptance of the Annual Percentage Rate you receive.
  7. Default: You will be in default if you fail to make any Minimum Payment or other required payment by the date it is due. You will also be in default if your ability to repay us is immediately materially reduced by a change in your employment, an increase in your obligations, bankruptcy or insolvency proceedings involving you, your death or your failure to abide by this Agreement, or if the value of our security interest materially declines. We have the right to demand immediate payment of your full account balance if you default, subject to our giving you any notice required by law. To the extent permitted by law, you will also be required to pay our collection expenses, including court costs and reasonable attorney’s fees. The Credit Union reserves the right to transfer shares from all accounts to this credit card account balance if you default.
  8. Foreign Transactions: Purchases and cash advances made in foreign currencies will be debited from your account in U.S. dollars. The conversion rate to dollars will be made in accordance with the operating regulations for international transactions established by VISA International, Inc.
  9. Returns and Adjustments: Merchants and others who honor the Card may give credit for returns or adjustments, and they will do so by sending us a credit slip which we will post to your account. If your credits and payments exceed what you owe us, we will hold and apply this credit balance against future purchases and cash advances, or if it is $1.00 or more, we will refund it on your written request.
  10. Payment Allocation: Subject to applicable law, your payments may be applied to what you owe the Credit Union in any manner the Credit Union Chooses.
  11. Security Interest: If you give the Credit Union a specific pledge of shares by signing the Secured Credit Card Agreement Addendum, your pledge of shares will secure your Account. You may not withdraw amounts that have been secured by your Account. You may not withdraw amounts that have been specifically pledged to secure your Account until the Credit Union agrees to release all or part of the pledged amount. In addition, your Account is secured by all other shares you have in any individual or joint account with the Credit Union, except for shares in an Individual Retirement Account or in any other account that would lose special tax treatment under state or federal law if given as security. These other shares may be withdrawn unless you are in default under this agreement. You authorize the Credit Union to apply the balance in your individual or joint share accounts to pay any amounts due on your Account if you should default. Collateral securing other loans you have with the Credit Union may also secure this loan, except that a dwelling will never be considered as security for this Account, notwithstanding anything to the contrary in any other agreement.
  12. Other Charges: Your account will be subject to other charges including, without limitation, an over-limit fee of $20.00, a NSF check charge of $25.00, a late payment charge of $25.00 on the 10th day after the payment is due.
  13. Credit Review and Release of Information: You authorize the Credit Union to investigate your credit standing when opening or reviewing your Account. You authorize the Credit Union to disclose information regarding your account to credit bureaus and creditors who inquire about your credit standing. If your account is eligible for emergency cash and/or emergency card replacement services, and you request such services, you agree that we may provide personal information about you and your account that is necessary to provide you with the requested service(s).
  14. Merchant disputes: The Credit Union is not responsible for the refusal of any plan merchant or financial institution to honor your card. The credit union is subject to claims and defenses (other than tort claims) arising out of goods or services you purchase with the card. If you have made a good faith attempt, but have been unable to obtain satisfaction from the merchant or service provider and: (a) your purchase was made in response to an advertisement we sent or participated in sending you; (b) Your purchase cost more that $50.00 and was made in your state or within 100 miles of your home. Any other disputes you must resolve directly with the merchant.
  15. Effect Of Agreement: This Agreement is the contract which applies to all transactions on your account even though the sales, cash advance, credit or other slips you sign or receive may contain different terms.
  16. No Waiver: We may need time to look into certain matters and can delay enforcing our rights under this Agreement without losing them.
  17. Statement and Notices; Statements and notices will be mailed to you at the most recent address you have given the Credit Union. Notice sent to any one of you will be considered notice to all.
  18. Final Expression: This Agreement is the final expression of the terms and conditions of the VISA line of credit between you and the Credit Union. This written Agreement may not be contradicted by evidence of any alleged oral agreement.
  19. Copy Received: You acknowledge that you have received a copy of this Agreement.

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

Ifyou think your bill is wrong, or if you need more information about a transaction on your bill, write us on a separate sheet at the address listed on your bill. Write to us as soon as possible. We must hear from you no later that 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:

●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.

If you have authorized us to pay your credit card bill automatically from your savings or share draft account, you can stop the payment on any 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 ResponsibilitiesAfter We Receive Your Written 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 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 bill that are not in question.

(Rev: 10/07, replaces 05/07)

If we find that we made a mistake on your bill, you will not have to pay 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 the name of anyone we reported you to. We must tell 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.

Special Rule for Credit Card Purchases