County Educators Federal Credit Union

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Application and Solicitation Disclosure

Interest Rates and Interest Charges
Annual Percentage Rate (APR) for Purchases 8.99% to 17.99% when you open your account, based on your creditworthiness.
APR for Cash Advances 8.99% to 17.99% when you open your account, based on your creditworthiness.
APR for Balance Transfers 8.99% to 17.99% when you open your account, based on your creditworthiness.
How to Avoid Paying Interest on Purchases Your due date is at least 25 days after the close of each billing cycle. We do not charge you interest on purchases if you pay your entire balance by the due date each month.
For Credit Card Tips from the Federal Reserve Board To learn more about factors to consider when applying for or using a credit card, visit the Web site of the Federal Reserve Board at
Transaction Fees
Foreign Transaction Fee
1.00% of each transaction in U.S. Dollars
Penalty Fees
Late Payment Fee
Returned Payment Fee


How We Will Calculate Your Balance. We use a method called "average daily balance (including new purchases)."

Effective Date. The information about the costs of the card described in this disclosure is accurate as of May 20, 2010. This information may have changed after that date. To find out what may have changed, contact the Credit Union.

Statement Copy Fee $4.50
Document Copy Fee $4.50
Rush Fee $35.00
Emergency Card Replacement Fee    $5.00
PIN Replacement Fee $5.00
Card Replacement Fee $5.00
Research Fee $35.00
Stop Payment Fee $25.00
Skip Payment Fee $25.00

Finance Charges: New purchases posted to your account during a billing cycle will not incur a finance charge for that billing cycle if you had a zero or credit balance at the beginning of that billing cycle, or you paid the entire new balance on the previous cycle's billing statement by the payment due date of that statement;otherwise a finance charge will be accrue from the date a purchase is posted to your account. To avoid an additional finance charge on the balance of the purchases, you must pay the entire new balance on the billing statement by the payment due date of that statement. A finance charge begins to accrue on cash advances from the date you get the cash advance or from the first day of the billing cycle in which the cash advance is posted to your account, whichever is later.

Payments: Each month you must pay at least the minimum payment shown on your statement by the date specified on the statement. You may pay more frequently, pay more than the minimum payment or pay the total new balance in full. To make an extra 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 blance, 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. In addition to the minimum payment you must also pay, by the date specified above, the amount at any prior minimum payment(s) that you have not made, all outstanding unpaid fees and charges, 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.

Statements: Statements will be mailed to you at the appropriate address you have given the Credit Union. A monthly statement will be mailed every month showing your previous balances of purchases and cash advances, the current transaction on your account, credit limit , remaining credit available under your credit limit, minimum payment required, and all other fees and charges.

Security Interest: You grant the Credit Union a security interest under the Uniform Commercial Code and under any common law rights the Credit Union may have in any goods you purchase. Your 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 accounts 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.

This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act.

What to do if you find a Mistake On Your Statement
If you think there is an error on your statement, write to us at:
        Customer service
        PO BOX 31112
        ampa FL 33631-3112
You may also contact us on the web:

In your letter, give us the following information:

  • Account information: Your name and account number
  • Dollar amount: The dollar amount of the suspected error.
  • Description of problem: If you think there is an error on your bill, describe what you believe is wrong and why you believe it is a mistake.

You must contact us:

  • Within 60 days after the error appeared on your statement.
  • At least 3 business days before an automated payment is scheduled, if you want to stop payment on the amount you think is wrong

You must notify us of any potential error in writing or electronically. You may call us, but if you do we are not required to investigate any potential error and you may have to pay the amount in question.

What Will Happen After We Receive Your Letter.

When we receive your letter, we must do two things:
Within 30 days of receiving your letter, we must tell you that we received your letter. We will also tell you if we have already corrected the error. Within 90 days of receiving your letter, we must either correct the error or explain to you why we believe the bill is correct.
While we investigate whether or not there has been an error:

  • We cannot try to collect the amount in question, or report you as delinquent on that amount.
  • The charge in question may remain on your statement, and we may continue to charge you interest on that amount.
  • While you do not have to pay the amount in question, you are responsible for the remainder of your balance
  • We can apply any unpaid amount against your credit limit.
After we finish our investigation, one of two things will happen:
  • If we made a mistake: you will not have to pay the amount in question or any interest or other fees related to that amount.
  • If we don't believe there was a mistake: You will have to pay the amount in question, along with applicable interest and fees. We will send you a statement of the amount you owe and the date payment is due. We may then report you as delinquent if you do not pay the amount we think you owe.
If you receive our explanation but still believe your bill is wrong, you must write to us within 10 days telling us that you still refuse to pay. If you do so, we cannot report you as delinquent without also reporting that you’re questioning your bill. We must tell you the name of anyone to whom we reported you as delinquent, and we must let those organizations know when the matter has been settled between us.

If we do not follow all of the rules above, you do not have to pay the first $50.00 of the amount you question even if your bill is correct.

Your Right if You Are Dissatisfied With your Card Purchases.

If you are dissatisfied with the goods or services that you have purchased with your 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 purchases.

To use this right, all of the following must be true.

  • The purchase must have been made in your home state or within 100 miles of your current mailing address and the purchases price must have been more than $50.00 ( Note: Neither of these are necessary if your purchase was based on an advertisement we mailed to you, or if we own the company that sold you the goods or services.)
  • You must have used your credit card for the purchase. Purchases made with cash advances from an ATM or with a check that accesses your credit account do not qualify.
  • You must not yet have fully paid for the purchase.
If all of the criteria above are met and you are still dissatisfied with the purchase, contact us in writing or or electronically.) at: While we investigate, the same rules apply to the disputed amount as discussed above. After we finish our investigation, we will tell you our decision. At that point, if we think you owe an amount and you do not pay, we may report you as delinquent.

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The Credit Union is an Equal Housing Lender.
We do business in accordance with the Federal Housing Law and the Equal Credit Opportunity Act
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.
National Credit Union Administration, A U.S. Government Agency.