ISPFCU VISA PLATINUM PROGRAMS FOR
ILLINOIS STATE LODGE FRATERNAL ORDER OF POLICE AFFINITY CARDHOLDERS

TERMS AND CONDITIONS

We apply your payments to low APR balances before higher APR balances.  That means your savings will be

reduced if you make transactions that are subject to higher APRs.

Rates, fees, and terms may change:  ISPFCU may change the rates, fees, and terms of your account at any time

for any reason.  These reasons may be based on information in your credit report, such as your failure to make

payments to other creditors when due, amounts owed to other creditors, the number of credit accounts outstanding

or the number of credit inquiries.  These reasons may also include competitive or market-related factors.  If we

make a change for any of these reasons, you will receive advance notice and a right to opt out in accordance with

applicable law. 

CARDHOLDER AGREEMENT AND TRUTH-IN-LENDING DISCLOSURE STATEMENT 

INTRODUCTION:  This cardholder agreement and disclosure statement (“Agreement”) governs your line of credit (the “Card,” “Card Account,” “Credit Line” or the “Credit Line account”) issued through Illinois State Police Federal Credit Union (ISPFCU).  In this Agreement, the words you, your, yours, debtor, cardholder, and accountholder mean all persons responsible for complying with this Agreement, including the person who applies to open the account and the person to whom we address billing statements.  The word card means one or more cards or other access devices, such as account numbers, that we issue to permit you to obtain credit under this Agreement.  The words we, us, and our mean Illinois State Police Federal Credit Union (ISPFCU).

ILLINOIS STATE LODGE FRATERNAL ORDER OF POLICE MEMBERSHIP REQUIREMENTS:  All applicants must be an active member or an active associate member of the Lodge upon application submission.  In addition to Lodge membership, all qualifying applicants must meet all ISPFCU loan and membership guidelines in order to qualify for this card program.

ISPFCU MEMBERSHIP REQUIREMENTS:  All approved applicant(s) must maintain an ISPFCU primary share account with a required minimum balance of $5.00.  Failure to maintain ISFPCU primary share account(s) will result in the termination of the credit card limit and the balance will be due in full.

RESPONSIBILITY:  You agree to repay all debts and the FINANCE CHARGE arising from the use of the card and the card account.  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 to new transactions if you so request and return all cards.  Any person using the card is jointly responsible with you for charges he or she makes, but if that person signs the card, he or she becomes a party to this Agreement and is jointly responsible for all charges on the account, including yours.

LIABILITY FOR UNAUTHORIZED USE:  You agree to notify us immediately upon discovering that your card has been lost or stolen.  You understand that you shall not be liable for any card transactions resulting from the loss, theft or other unauthorized use of the card, provided that you have given proper notice to ISPFCU.  Such liability does not apply when the card is used to make an electronic funds transfer.

CREDIT INFORMATION:  You authorize us to disclose information regarding your account to credit bureaus and other creditors who inquire of us about your credit standing.

MONTHLY PAYMENT:  We will mail you a statement every month showing your Previous Balances of purchases and cash advances, the current transactions on your account, the remaining credit available under your Credit Line, the New Balances of purchases and cash advances, the Total New Balance, the FINANCE CHARGE due to date, and the Minimum Payment required.  Every month you must pay at least the Minimum Payment within 25 days of your statement closing date.  You may, of course, pay more frequently, pay more than the Minimum Payment, or pay the Total New Balance in full, and you will reduce the FINANCE CHARGE by doing so.  The Minimum Payment will be either (a) 1.50% of your Total New Balance or $20 whichever is greater, or (b) your Total New Balance, if is less than $20, plus (c) any portion of the Minimum Payment(s) shown on prior statement(s) which remain unpaid.  We may allocate payments and other credits and proceeds among the various segments of your account, and to charges and principal due within each segment, in any way we determine, including towards balances (including new transactions) with lower ANNUAL PERCENTAGE RATES (APRs) before balances with higher APRs

FINANCE CHARGES:  Purchases.  You can avoid a FINANCE CHARGE on purchases by paying the amount of the New Balance of Purchases each month within 25 days of your statement closing date.  Otherwise, the New Balance of Purchases, and subsequent purchases from date they are posted to your account, will be subject to FINANCE CHARGE.  The periodic rate will vary based on changes in the Prime Rate printed in the Wall Street Journal.  The annual rate will be changed each month on the first day of your billing cycle and will be calculated by adding a margin of 2.90% to the prime rate set forth in the first issue of the Wall Street Journal published in that month. Cash Advances and Purchase/Balance Transfer/Other Charges. Cash Advances and Purchase/Balance Transfer/Other Charges are always subject to a FINANCE CHARGE from the date of the transaction.  The periodic rate will vary based on changes in the Prime Rate printed in the Wall Street Journal.  The annual rate will be changed each month on the first day of your billing cycle and will be calculated by adding a margin of 5.90% to the prime rate set forth in the first issue of the Wall Street Journal published in that month.  The periodic rate is then calculated by dividing the resulting annual rate by 12.  If the interest rate increases, your minimum monthly payment will not increase but the number of payments may increase.  If the interest rate decreases, your minimum monthly payment will not decrease. The principal balances 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 balances 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.

Promotional ANNUAL PERCENTAGE RATE for Balance Transfers:  Subject to the terms of this 0% promotional offer, a promotional ANNUAL PERCENTAGE RATE will apply to balance transfers for all non-ISPFCU loan balances.   After the time period stated in this offer expires, the ANNUAL PERCENTAGE RATES described in the sections above will apply to any existing balances. 

TRANSACTION FEE FOR BALANCE TRANSFER:  Balance transfers will be treated as cash advances.  All balance transfers are subject to the assessment of a balance transfer fee.  To each balance transfer we add an additional FINANCE CHARGE of 3.0% of the balance transfer, but not less than $5 or more than $75.  This fee will be added to the appropriate cash advance balance with the balance transfer.  The balance transfer transaction fee may cause the ANNUAL PERCENTAGE RATE on the billing statement on which the balance transfer first appears to exceed the nominal ANNUAL PERCENTAGE RATE.

TRANSACTION FEE FOR CASH ADVANCES:  We assess a cash advance transaction fee if you obtain a cash advance.  The cash advance transaction fee applies if you obtain funds from an automated teller machine (ATM), through a convenience check, or through a financial institution.  For each cash advance, we add an additional FINANCE CHARGE of 3.0% of the advance, but not less than $5 or more than $75.  This fee will be added to the appropriate advance balance with the cash advance.  (The amount of the cash advance may include a surcharge that the ATM owner imposes.)  The cash advance transaction fee may cause the ANNUAL PERCENTAGE RATE on the billing statement on which the cash advance first appears to exceed the nominal ANNUAL PERCENTAGE RATE. 

CHARGES MADE IN FOREIGN CURRENCIES:  If you incur a charge in a foreign currency or pursuant to or arising from any international transaction, the charge will be converted into a U.S. Dollar amount.  For purposes of this section, an international transaction shall include both (a) transactions initiated in a foreign country which are subsequently settled in the U.S., and (b) transactions initiated in the U.S. but which are ultimately settled in a country outside of the U.S. Visa processing rules provide that 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, which rate may vary from the rate Visa receives, or the government-mandated rate in effect for the applicable central processing date, plus a fee of 1% assessed by Visa against the issuer of your card, ISPFCU, which is referred to as the International Transaction Fee.  Visa processing rules are incorporated herein, as amended from time to time.  The credit union will assess the International Transaction Fee to you to reimburse it for the fee it is required to pay for each of your international transactions.  The converted transaction amount will be shown separately from the International Transaction Fee (1%) on your periodic billing statement.

DEFAULT/TERMINATION: You will be in default if you fail to make at least the MINIMUM PAYMENT DUE BY THE PAYMENT DUE DATE DISCLOSED ON THE MONTHLY STATEMENT. You will also be in default and your VISA account may be terminated if:

• (you breach any other conditions of this agreement;

• your creditworthiness has become unsatisfactory, including but not limited to, information in your credit report, such as your failure to make payments to other creditors when due, amounts owed to other creditors, the number of credit accounts outstanding, or the number of credit inquiries;

• you die, become incapacitated, or you fail to abide by this agreement;

• at your option, or our option, with good cause and upon written notice.

In the event of default or if this agreement is terminated by you or by us, the entire balance becomes immediately due and payable. The Debtor, jointly and severally, agrees to pay reasonable attorney’s fees, court costs and/or collection agency fees and costs to the extent allowed by applicable laws and regulations

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 may contain different terms. We may amend this Agreement from time to time by sending you the advance written notice required by law. Your use of the card thereafter will indicate your agreement to the amendments. To the extent the law permits, and we indicate in our notice, amendments will apply to your existing account balance as well as to future transactions.

STATE SPECIFIC INFORMATION

California Residents:  Applicants: 1) may after credit approval, use the credit card account up to its credit limit; 2) may be liable for amounts extended under the plan to any joint application.  As required by law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations.

Ohio Residents:  Ohio anti-discrimination laws require creditors to make credit equally available to all creditworthy customers and that credit reporting agencies maintain separate credit histories on individuals upon request.  The Ohio Civil Rights Commission administers these laws.

New York and Vermont Residents:  ISPFCU may obtain at any time your credit reports for any legitimate purpose associated with the account or the application or request for an account, including but not limited to reviewing, modifying, renewing and collecting on your account.  On your request you will be informed if such a report was ordered.  If so, you will be given the name and address of the consumer reporting agency furnishing the report.  New York residents may contact the New York State Banking Department (1 800/518-8866) for a comparative list of credit card rates, fees, and grace periods.

Married Wisconsin Applicants:  No provision of any marital property agreement, unilateral statement, or court order applying to martial property will adversely affect a creditor’s interests unless prior to the time credit granted, the creditor is furnished with a copy of the agreement, statement or court order, or has actual knowledge of the provision.

Cash Rewards: Cash Rewards are earned as follows:

Cash Rewards applies to total net purchases only ( purchases minus credits and returns). It does not include cash advances, transferred balances, ATM transactions, or convenience checks. Cash Rewards do not accumulate for fees of any kind, such as FINANCE CHARGES, late payment fees, annual fees and related service charges, unauthorized charges and ATM transactions. Cash Rewards will be posted as a credit to the account monthly. To be eligible for Cash Rewards, your account must be open and in good standing (not past due, over limit, fraudulent, restricted or part of a consumer credit counseling program or bankruptcy settlement) at the time the rebate is to be issued. If the account is not in good standing at the time of redemption, Cash Rewards will be forfeited. Accounts that have payments that post after the statement due date may forfeit all rebates earned in the previous billing cycle. ISPFCU has the right to change or cancel this cash rebate program at any time.

These program benefits cannot be added to an existing ISPFCU account.

Special Rule for Credit Card Purchases

If you have a problem with the quality of property or services that you purchased with a 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:

(a)     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

(b)       The purchase price must have been more than $50.

These limitations do not apply if we own or operate the merchant or if we mailed you the advertisement for the property or services.

The information about the costs of the card described is accurate as of 06/2008.  However, information may have changed after the date indicated.   To find out what may have changed, contact ISPFCU by calling 800/255-0886, through our website at www.ispfcu.org, or writing us at ISPFCU, 730 Engineering Ave,  Springfield, IL  62703