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, 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”) that 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.      Using Your Card.
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 electronic gambling transaction through the Internet. 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) that is issued to you for use with your Card. You agree that you will not use your Card for any transaction that is illegal under applicable federal, state or local law.

 3.      Responsibility.
You agree to pay all charges (purchases and cash advances) to your Account that are made by you or anyone whom you authorize to use your Account. You also agree to pay all Finance charges and other charges added to your Account under the terms of this Agreement or another agreement you made with the Credit Union. If this is a joint Account, Section 17 below also applies to your Account.

 4.      Finance Charges. 
You can avoid FINANCE CHARGES on purchases by paying the full 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, Cash advances are always subject to FINANCE CHARGE from the date they are posted to your account.


FINANCE CHARGE (interest on purchases) is calculated at the Periodic rate of   1.075% per month (IF ANNUAL PERCENTAGE RATE OF 12.90%), on the average daily principal balance. FINANCE CHARGE (interest on cash advances) is calculated at the periodic rate of  1.075% per month (IF ANNUAL PERCENTAGE RATE of 12.90%), on the average daily principal balance. The ANNUAL PERCENTAGE RATE shall not be more than 18.00%.

The principal balances of purchases and cash advances are determined each day during the statement period, beginning with the principal portion of your Previous Balance, 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 same 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.

For cash advances, the finance charge is computed by applying the monthly periodic rate to the average daily balance of cash advances. To get the average daily balance of cash advances, we take the beginning outstanding balance of cash advances each day, add in any new cash advances, and subtract any payments and/or credits that we apply to the cash advance balance. This gives us the daily balance of cash advances. Then, we add all the daily balances of cash advances for the billing cycle together and divide the total by the number of days in the billing cycle. This gives us the average daily balance of cash advances.

5.          Other Charges.
The following other charges (fees) will be added to your Account, as applicable:




 6.          Payments.
Each month you must pay at least the minimum
payment shown on your statement by the date specified on the statement or no later than twenty-            five (25) days from the statement closing date, whichever is later. If your statement says the payment is “NOW DUE”, your payment is due no later than twenty-five days from the statement closing date. You may pay the Total New Balance in full. 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). The minimum payment is 3% of your Total New Balance, or $25.00, whichever is greater, “plus” the amount of any prior minimum payments that you have not made, and any amount you are over your credit limit. The Credit Union also has the right to demand immediate payment of any amount by which you are  over your credit limit.

 7.          Payment Allocation.
Subject to applicable law, we will apply your payments first to the balance bearing the highest rate of interest, and then to each successive balance bearing the next highest rate of interest, until the payment is exhausted.

8.          Security Interest.
If you give the Credit Union a specific pledge of shares by signing a separate pledge of shares, your pledged shares will secure 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.

  You will be in default if you fail to make any minimum   payment or other required payment by the date that it is due. You will be in default if you break any promise you  make under this Agreement. You will be in default if you die, file for bankruptcy or become insolvent, that is,  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. You will also 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 giving you notice. If immediate payment  is demanded, you agree to continue paying finance charges, at the periodic rate charged before default, until  
what you owe has been paid, and any shares that were              given as security for your Account may be applied              towards what you owe. 
I fully understand, acknowledge and agree that if my VISA Credit Card account becomes delinquent or past due, the Credit Union may offset the defaulted balance by paying up to and including the balance in full with all funds maintained in my/our Credit Union share, checking, or other deposit accounts. Delinquent or past due is defined as failure to make the required payment which puts the account in default calling the entire balance due in full. Any collateral securing any loans with the Credit Union, now or at any time in the future, will also secure my obligations under this Agreement.

         You agree to notify us immediately, orally or in writing at P.O. Box 449, 702 Elm Street, Hopewell, VA 23860 or telephone (800) 991-4964 twenty-four (24) hours a day, seven (7) days a week, 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 card. In any case, your liability will not exceed $50.00.

11.         Changing or Terminating Your Account.
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 existing Account balance as well as to future transactions. Either you or the Credit Union may terminate this          Agreement at any    time, but termination by you or the Credit Union 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 to your Account after termination, unless the transactions were unauthorized.

The Card or Cards you receive remain the property of the Credit Union and you must recover and surrender to the Credit Union all Cards upon request or upon termination of this Agreement whether by you or the Credit Union. The Credit Union has the right to require you to pay your full Account balance at any time after your Account is terminated, whether it is terminated by you or the Credit Union. If this is a joint Account, Section 17 of this Agreement also applies to termination of the Account.

12.        Credit 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. Credit limits and rates charged will be reviewed upon card renewal. Cardholders will be notified 45 days prior to any change in terms to include rates or fees.

13.         Returns and Adjustments.
Merchants and others who honor your Card may give credit for returns or adjustments, and they will do so by sending the Credit Union a credit slip which will be posted to your Account. If your credits and payments exceed what you owe      the Credit Union, the amount will be applied against future purchases and cash advances. If the credit balance amount is $1 or more, it will be refunded upon your written request or automatically after six (6) months.
14.         Additional Benefits/Card Enhancements.
The Credit Union may from time to time offer additional services to your Account, such as travel accident insurance, at              no additional cost to you. You understand that the Credit Union is not obligated to offer such services and may withdraw or change them at any time.

15.         Foreign Transactions.
An International Transaction Fee will be assessed on all transactions where the merchant country differs from the country of the card issuer. The converted transaction amount will be shown separately from the International Transaction Fee on your billing statement. This fee will be assessed on all international purchases, credit vouchers, and cash disbursements.

Foreign Transaction Currency Exchange Rate.
The exchange rate for transactions in a foreign currency will be 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 itself receives, or the government mandated rate in effect for the applicable central processing date plus the International Transaction fee.

16.         Merchant Disputes.
The Credit Union is not responsible for the refusal of any 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 the Credit Union sent or participated in sending to you:  or (b) your purchase
cost more than $50 and was made in your state or within one hundred (100) miles of your home.

17.         Joint Accounts.
If this is a Joint Account, each person on the Account must sign
the Agreement (by Signing on the application). Each of you will be individually and jointly responsible for paying all amounts owed under this Agreement. This means that the Credit Union can require any one of you individually to repay the entire amount owed under this Agreement. Each of you authorizes the other(s) to
make purchases or cash advances individually. Any one of you may terminate the Account and the termination will be effective as to all of you.

18.         Illegal Use of Card.
Visa cards may not be used for any illegal transaction including but not limited to Internet gambling. Any illegal transaction could result in this account and other related services being terminated at the credit union’s discretion. The cardholder further agrees to hold the credit union harmless from any suits or other legal action or liability resulting from such illegal use of this card. The Credit Union reserves the right to decline to authorize any transaction that may possess an undue risk of illegal activity.

19.         Effect of Agreement.
This Agreement is the contract which applies to all transactions on your Account even though the sales, cash advances, credit or other slips you sign or receive may contain different terms.

20.         VISA Account Updater, (VAU)
Your Card is automatically enrolled in VAU, an automatic account information updating service provided by VISA. When your account information changes, Hopewell Chemical FCU will submit electronic files with my updated information to VISA, and VISA will send your updated information to participating merchants with whom you have an ongoing payment relationship, such as recurring payments or automatic billing. This service is a convenience, provided to you at no cost; however, you may opt-out of VAU at any time by contacting you at 804-452-2480. You understand that participating in VAU does not relieve you of your obligation to ensure that merchants have correct account information on file, and if you fail to keep your account information current it may result in a declined payment. You also understand that neither VISA nor Hopewell Chemical FCU can guarantee that your account updates will be communicated to merchants prior to my next billing date.

21.         No Waiver.
The Credit Union can delay enforcing any of its rights any number of  times without losing them.

22.         Statements 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.

23.         Final Expression.
This Agreement is the final expression of the terms and conditions of this VISA line of credit between you and the Credit Union. This written Agreement may not be contradicted by evidence of any alleged oral agreement.

24.         Negative Information Notice.
We may report information about your loan and deposit accounts to credit bureaus. Late payments, missed payments, or other defaults on your accounts may be reflected in your credit report.

By Signing below; you acknowledge that you have received a copy agreement.


Member Signature                                                           Date



____________________________________________________  Joint Owner / Guarantor / User                                               Date


Revised: revised 07/01/10, reviewed 03/31/15, reviewed 03/28/17, reviewed 09/25/17, reviewed 06/26/18, reviewed 06/25/19


           This notice contains important information about your rights and our responsibilities under the Fair Credit Billing Act.


Notify Us In Writing 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 at the address listed on your bill. You must notify us of any potential errors in writing. We must hear from you no later than sixty, (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:

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 (3) business days before the automatic payment is scheduled to occur.

Your Rights And Our Responsibilities After We Receive Your Written Notice.

We must acknowledge your letter within thirty (30) days, unless we have corrected the error by then. Within ninety (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 an 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 that 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 (10) 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 report you to that the matter has been settled between us when it finally is.

If we do not follow these rules, we cannot collect the first $50.00 of the questioned amount, even if your bill was correct.

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 (2) limitations on this right:

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







Hopewell Chemical  Federal Credit Union
PO Box 449 / 702 Elm Street
Hopewell, VA 23860


Main Phone:    (804) 452-2480
Chester Branch Phone: (804) 530-1395
 Main Fax Number: (804) 452-5515


Monday 9:00am – 2:00pm
Tuesday, Wednesday, Friday 9:00am – 5:00pm
Thursday – 10:00am – 6pm