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Personal Credit Cards

Elevate your purchasing power and embrace a world of possibilities with Volunteer Federal’s VISA® Orange Card! Whether you are working to build your credit or an established consumer looking for enhanced benefits, we have card options available to meet your needs.¹

Vol Fed Credit Cards Orange Card

Orange Card

  • No Annual Fee
  • Contactless Payments for faster checkout
  • 0.00% Introductory APR² for 180 days for Balance Transfers
  • VISA ® Zero Liability protection against unauthorized card use³

Orange Card with Rewards

  • No Annual Fee
  • Contactless Payments for faster checkout
  • 0.00% Introductory APR² for 180 days for Balance Transfers
  • VISA ® Zero Liability protection against unauthorized card use³
  • Earn 1% Cashback Rewards for qualifying purchases⁴
  • Sign up today through Volunteer Federal online banking! (If you are not a current online banking customer, contact us at 423-442-4545 for assistance.)
    • Customer Service Phone Number: 833-606-4188
    • Customer Service Email: support@loyaltyredemptioncenter.com
VolFed Visa Consumer Cardholder Agreement
VolFed Visa Consumer Orange Card Disclosure
VolFed Visa Consumer Orange Card with Rewards Disclosure
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If applying for a credit card, on the section entitled, “Purpose Of Loan,” choose “Other.” When the “Other Description” box loads, please type in “Credit Card.”

¹ Subject to credit approval. See Application Disclosures for account pricing and details and the Cardholder Agreement for account terms and conditions.

² APR = Annual Percentage Rate. 0.00% Introductory APR for the first 180 days from the date of first balance transfer, when transfers are completed within 60 days from date of account opening. This introductory promotional rate carries a fee of either $10 or 3% of the amount of each transfer, whichever is greater. After the promotional period, your APR will be 12.75% to 26.75% based on your creditworthiness when you open your account. This APR will vary with the market based on the Prime Rate as published in the Money Rates section of the Wall Street Journal.

³ Visa’s Zero Liability Policy does not apply to certain commercial card transactions, or any transactions not processed by VISA. Cardholder must use care in protecting the card and notify Volunteer Federal immediately of any unauthorized use. For specific restrictions, limitations, and other details, please consult your Cardholder Agreement.

⁴ Rewards Program is subject to change. Rewards are earned on eligible net purchases. Net purchases are purchases minus credits and returns. Not all transactions are eligible to earn rewards. Upon approval, see your Rewards Program Guide for details.

Disclosure of Credit Card Terms

Account terms are not guaranteed for any period of time. All terms, including fees and APRs for new transactions, may change in accordance with the VolFed VISA Consumer Credit Card Agreement and applicable law based on information in your credit report, market conditions, business strategies, or for any reason. Please review all of these materials so that you are fully informed about the terms of this credit card offer.

INTEREST RATES AND INTEREST CHARGESVolFed VISA Consumer Credit Card without Rewards
Annual Percentage Rate (APR) for purchases28.50%   This APR will vary with the market based on the Prime Rate.
APR for Balance Transfers0.00% Introductory APR for the first 180 days from the date of first balance transfer, when transfers are completed within 60 days from date of account opening. After that, your APR will be 28.50%   This APR will vary with the market based on the Prime Rate.
APR for Cash Advances28.50%   This APR will vary with the market based on the Prime Rate.
Penalty APR and When it AppliesNot applicable
How to Avoid Paying Interest on PurchasesYour due date is at least 25 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month. We will begin charging interest on cash advances and balance transfers on the transaction date.
Minimum Interest ChargeIf you are charged interest, the charge will be no less than $1.
For Credit Card Tips from the Consumer Financial Protection BureauTo learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore
FEESVolFed VISA Consumer Credit Card without Rewards
Annual FeeNone
Transaction Fees 
• Balance Transfer• Either $10 or 3% of the amount of each transfer, whichever is greater.
• Cash Advance ATM• Either $10 or 5% of the amount of each cash advance, whichever is greater (maximum fee: $25)
• Cash Advance• Either $10 or 3% of the amount of each cash advance, whichever is greater (maximum fee: $25)
• Foreign Transaction• 1% on all multi-currency and single currency international transactions
Penalty Fee
  • Late Payment
  • Returned Payment
 
  • $25
  • $25

How We Will Calculate Your Balance:  We use a method called “average daily balance (including new purchases).”  See your account agreement for more details.

Variable Rate Information:  Your APR will vary with the market based on the Prime Rate as published in the Wall Street Journal. The rate for Purchases, Balance Transfers and Cash Advances is determined by adding 20.00% to the Prime Rate.  The maximum APR for your card is 29.99%.

Effective Date:  This disclosure represents important details concerning your credit card.  The information about costs of the card is accurate as of October 6, 2023, and is subject to change after that date. You can contact us at (423) 442-4545 or 108 Main Street, Madisonville, TN  37354 to inquire if any changes have occurred since the effective date.

Billing Rights:  Information on your rights to dispute transactions and how to exercise those rights is provided in your account agreement.

Important Information About Procedures for Opening a New Account. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

You agree that we may obtain consumer credit reports about you to review this application, and, if we open a credit card account for you, that we may obtain consumer credit reports about you in the future to review, update, renew, collect, and service your credit card account and for other purposes permitted by law. We will, if you request, tell you whether we obtained a consumer credit report about you and tell you the name and address of any consumer reporting agency that provided the report.

If we open a credit card account for you, you understand and agree that you will be subject to all terms and conditions described in our Consumer Cardmember Agreement, as amended from time to time, including but not limited to its terms related to account payments, rates and fees, change in terms, and arbitration. This Consumer Cardmember Agreement becomes effective the first time you or any Authorized User activates a Card or uses the Account in any way. You understand and agree that we may change the Consumer Cardmember Agreement and the rates, fees, and terms of your credit card account as allowed by law, after we give any notice and wait any time period that the law requires.

Consent for Communications: By applying and providing your telephone number(s) and email address(es), you expressly authorize us and our agents and service providers to use any available written, electronic, or verbal means of contacting you for any purpose related to the servicing and collection of your accounts with us, for surveys and research, and for any other informational purpose related to your accounts with us (each, a "Communication"). You agree this authorization for Communications includes, but is not limited to, our use of manual calling methods, prerecorded or artificial voice messages, text messages, e-mail messages, and/or automatic telephone dialing systems. You agree that we and our agents and service providers may contact you for these Communications using any e-mail address or telephone number you provide, including a number for a cellular telephone or other wireless device, regardless of any charges you may incur as a result. We will not charge you for making a Communication, but your service provider may. You agree that we and our agents and service providers may monitor and record telephone calls about your credit card account to assure service quality or for other legitimate business reasons. You understand and agree that we and our agents and service providers may always communicate with you in any manner permitted by law that does not require your prior consent.

Notice of Negative Information Furnishing: We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report.

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Volunteer Federal Savings Bank
VolFed VISA Consumer Credit Card Agreement

This VolFed VISA Consumer Credit Card Agreement (“Agreement”) covers the use of your Account with us. It includes the Disclosure of Credit Card Terms on the enclosed letter or the document that accompanies your Card, as well as any subsequent disclosures which we will provide to you from time to time, all of which are incorporated here by reference.

Please read this Agreement carefully and keep it for your records. It supersedes all prior agreements and disclosure statements relating to your Account. You do not have to sign this Agreement. You agree to the terms of this Agreement when you accept, sign, or use your Card or your Account.

1.     Definitions

  • Account means your credit card account established under this
  • APR means Annual Percentage Rate. Your Interest Charge is based on the
  • ATM means Automated Teller Machine
  • Authorized User means an individual to whom you have asked us to issue a Card on your
  • Bank, we, us, and our refer to Volunteer Federal Savings
  • Billing Cycle means a period of time that is approximately 30 days in length. Each Billing Cycle ends on the Statement Closing Date provided on your Billing Statement.
  • Billing Statement (or Statement) means a document we provide to you showing Account Information including, but not limited to, your Credit Limit and Available Credit, Account Activity during a Billing Cycle, New Balance, Minimum Payment Due and Payment Due Date.
  • Card means either one or more Visa® credit cards or any other access device such as a debit or ATM card, used to access your account.
  • Check means any one or more convenience checks we may send you to access your
  • Daily Periodic Rate means the APR divided by the number of days in the year (365 days, or 366 days in the case of a leap year)
  • Finance Charge is the cost of credit as a dollar It is the sum of the Interest Charges plus all Transaction Fees imposed during that Billing Cycle.
  • Interest Charge is the periodic rate charge based on the applicable It is a component of the Finance Charge. Your Total Interest is a summary of the Interest Charges for each balance and associated APR.
  • Merchant means a business displaying the Visa sign and accepting your Card for the purchase of goods and
  • Minimum Payment Due and Payment Due Date mean the amount you must pay, and the date by which you must pay it, to avoid a Late Payment Fee. See Section 7 for details.
  • New Balance or (“Balance”) means your outstanding balance for the current month as of the Statement Closing Date
  • Transaction Fees are components of your Finance Charge and include Foreign Transaction Fees, Balance Transfer Fees, and Cash Advance Fees.
  • You, your and yours means each applicant or co-applicant for the Account, any person responsible for paying the Account, and anyone authorized to use, access or service the Account, including any Authorized User.

 

  1. Your Responsibility for the Account: We may charge your Account for any transaction you authorize. Valid authorization for a transaction may be given (1) in writing (e.g., by signing a sales slip or cash advance slip), (2) verbally (e.g., by telephone), or (3) electronically (e.g., over the internet). You are responsible for the balance on the account, and you agree to pay the balance under the terms of the Agreement. You need to protect and control the use of the Card by not letting any other person use it. If you let another person use the card, you agree to be responsible for any and all charges they make. The Cards remain our property and you agree to return them upon our request, or we have the right to have a merchant keep the card and return it to us. If your card is lost or stolen or you suspect unauthorized use of your Account, you agree to notify us immediately.

 

  1. Using the Account: You or an Authorized User on your Account must sign your Card in order to use You may use your Card to buy goods and services from Merchants or to borrow cash from us at one of our branches or at other banks where the Card is honored up to the credit limit we establish for you. You must follow any and all reasonable and proper procedures required by us or the other bank or Merchant honoring the Card. You may request a PIN (personal identification number for use at ATMs to obtain Cash Advances. Your Card and Account cannot be used for illegal charges and cannot be used for online gambling.

 

  1. Credit Limit: We will provide you with notice of your credit limit when we send you your Card, and it will also be listed on each Billing Statement we send you. At our discretion, we may change your limit at any time as permitted by law and after providing you with appropriate notice as required. We do not automatically increase your credit limit if you make a payment that results in your Account having a credit balance. You may request a change to your credit limit by contacting the Bank at the number listed on the back of your Card and on your Statement. We do not have to pay any Check or honor any cash advance or purchase with your Card that puts your Account balance over your credit limit. You agree not to exceed your credit limit, but if you do, and we pay or accept any Checks, advances or purchases that put your unpaid Account balance over your credit limit, you promise to pay these amounts without our notice or demand. We reserve the right to demand immediate payment of any amount over your credit limit.

 

  1. Transaction Limitations/Suspensions: There is no minimum dollar amount for Card purchases, cash advances or balance transfers. At our discretion, we may limit the number of transactions that may be approved on any one day. We reserve the right to deny certain transactions for any reason, including default, suspected fraudulent or unlawful activity, or any increased risk related to the We are not responsible if a transaction on your Account is not approved, either by us or by a third party, even if you have sufficient credit available. We may, in our discretion, approve transactions that cause your balance to exceed your credit limit without waiving any of our rights under this Agreement.

 

  1. Billing Statement and Notification of Billing Error: We will send you a periodic Billing Statement every month. It will also show the Minimum Payment Due and the Payment Due It is your responsibility to review the Statement and notify us promptly of any charge or item you believe to be in error or subject to dispute. If you do not notify us of any disputed items within sixty (60) days after the date we send you the statement on which the error appears, the item(s) will be conclusively deemed as correct to the extent permitted by law. You will not receive any cancelled Checks with your Statements; however, you may obtain a photocopy of an electronic image of any Check we have in our records that you request. You may be required to pay a Document Fee for such copies. (See Section 12 for Fees).

 

  1. Minimum Payment and Monthly Payment: 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 balance in full. If you make extra 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 2% of your total new balance or $25, whichever is greater, plus the amount of any prior minimum payments that have not been made, any amount you are over the credit limit and all outstanding unpaid fees and charges. The minimum payment due is rounded up to the nearest dollar.

The Payment Due Date will be twenty-five (25) days from the closing date. The closing date is the last day of the Billing Cycle.

  1. Payments: Payments should be sent to the address on your Billing Statement. If you send a payment to any other address, there may be a delay in crediting it to your account. We do not lose any of our rights to collect the full balance if we accept late payments, partial payments or checks or money orders marked “payment in full” or similar language. Do not send us postdated checks. If you do, we may deposit these checks when we receive them and will not be liable for any fees that may result. We will post payments when received but we may restrict your ability to make new charges against that payment amount for up to 2 We may convert and present your payment, or any returned payment, to your bank electronically. If this occurs, your check will not be sent to your bank, but they can get a copy of it at your request.

 

  • Payment Methods: Payments must be made in S. dollars. Unless the payment is made electronically, it must be in the form of a personal check, money order or cashier’s check and capable of being processed through the Federal Reserve System. Payments must be drawn on a U.S. Financial Institution. We do not accept cash payments through the mail.

 

  • Applying Your Payments – In general, the payment will be applied in the following order: Unpaid Interest, Unpaid Fees, and other Charges; and then principal balance. Payments on an account over the Minimum Payment due will be applied to the Cash Advance balance before being applied to the Purchase balance. Making payments over your Minimum Payment Due does not pre-pay your future Minimum Payments.

 

  1. Average Daily Balance: We figure the Interest Charge on your account by applying the periodic rate to the “average daily balance” of your account. To get the “average daily balance,” we start with the Previous Balance and add purchases, balance transfers and cash advances as of their posted dates and fees and charges as of the transaction date. We subtract payments and credits as of their posted dates. Then we add the daily balances and divide by the number of days in the billing cycle. To calculate the interest, we multiply the Average Daily Balance by the Daily Periodic Rate. The Daily Periodic Rate is calculated by dividing the APR (currently Prime Rate plus 6%, 10% or 20% based on your creditworthiness when you open your account) by the number of days in the year. Balance Transfers and Cash Advances continue to accrue interest until payment of the total Balance Transfer or Cash Advance balance is posted. If you are charged interest, the charge will be no less than $1.00.

 

  1. Variable Rates: We use APRs to calculate interest charges on your Account. Your APR will vary with the market based on the S. Prime Rate. Any change to your APR will not apply until the first day of your next billing cycle that begins after a rate change date. We will add a “Margin” to the U.S. Prime Rate to determine your standard variable rate. For each billing period, we will use the U.S. Prime Rate published in the Money Rates table of The Wall Street Journal as of the first day of the month. An increase in the Prime Rate will result in an increase in the APR. A decrease in the Prime Rate will have the opposite effect of an increase. The maximum APR for your card is 29.99%.

 

  1. When Interest is Charged: Interest will be charged on Purchases if you do not pay the entire New Balance shown on your Statement by the Payment Due Date. For Balance Transfers and Cash Advances, interest is charged from the date the Balance Transfer or Cash Advance is made until it is paid in full, and there is no grace period in which you can repay a Balance Transfer or Cash Advance to avoid interest.

 

  1. Fees: You agree to pay us the following fees which will be billed to your account as a purchase and will accrue interest:

 

  • Annual Fee – None
  • Late Payment Fee – You will be billed a late fee of $25 if your payment is not received by the Payment Due
  • Returned Payment Fee – You will be billed $25 if your payment is returned for any
  • Cash Advance Fee – You will be billed a fee of $10 or 3% of the amount of each cash advance, whichever is greater, up to $25.
  • ATM Cash Advance Fee – You will be billed a fee of $10 or 5% of the amount of each cash advance, whichever is greater, up to $25.
  • Balance Transfer Fee – You will be billed a fee of $10 or 3% of the amount of the balance transfer, whichever is greater.
  • Foreign Transaction Fee – You will be billed a fee of 1% on single and multi-currency international
  • Document Fee (for duplicate copies of Statements and copies of charge slips or other documents not requested in connection with a billing error): $10 per Statement or item
  • Replacement Card Fee (for each replacement card requested): $10
  • Expedited Card Fee (for requests of expedited delivery of Card{s}): $35

 

 

13.  Your Billing Rights:

 

FEDERAL CONSUMER PROTECTION ACT DISCLOSURE YOUR BILLING RIGHTS

KEEP THIS NOTICE FOR FUTURE USE

 

This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act. “You” and “your” mean the cardholder; “we,” “our” and “us” mean Volunteer Federal Savings Bank.

WHAT TO DO IF YOU FIND A MISTAKE ON YOUR STATEMENT

If you think there is an error on your statement, write to us as soon as possible at the address shown on the first page of your Statement following the words “Mail Inquiries To” In your letter, give us the following information:

 

  • Account information: Your name and account number,
  • Dollar amount: The dollar amount of the suspected error; and
  • 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
  • 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 errors in writing. You may call us, but if you do we are not required to investigate any potential errors 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:

  1. Within 30 days of receiving your letter, we must tell you that we received your We will also tell you if we have already corrected the error.
  2. Within 90 days of receiving your letter, we must either correct the error or explain to you why we believe the bill is

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
  • The charge in question may remain on your statement, and we may continue to charge you interest on that
  • While you do not have to pay the amount in question, you are responsible for the remainder of your
  • We can apply any unpaid amount against your credit

 

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 do not believe there was a mistake: You will have to pay the amount in question, along with applicable interest and 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 are 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 of the amount you question even if your bill is correct.

YOUR RIGHTS IF YOU ARE DISSATISFIED WITH YOUR CREDIT 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 purchase.

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

  1. The purchase must have been made in your home state or within 100 miles of your current mailing address, and the purchase price must have been more than $50. (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.)
  2. You must have used your credit card for the Purchases made with cash advances from an ATM or with a check that accesses your credit card account do not qualify.
  3. You must not yet have fully paid for the

If all of the criteria above are met and you are still dissatisfied with the purchase, contact us in writing at the address shown on the first page of your Statement following the words “Mail Inquiries To:

 

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.

  1. Delay in Enforcement: We can delay enforcing or fail to enforce any of our rights under this Agreement without losing them.

 

  1. Military Lending Act Notice: Federal law provides important protections to members of the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percent. This rate must include, as applicable to the credit transaction or account: The cost associated with credit insurance premiums; fees for ancillary products sold in connection with the credit transaction; and application fee charged (other than certain application fees for specified credit transactions or accounts); and any participation fee charged (other than certain participation fees for a credit card account). Please call (423) 442-4545 to have this Disclosure provided to you

 

  1. Lost or Stolen Cards: If your card is lost, stolen, or being used without your permission, you agree to notify us

immediately upon such discovery:

 

  • In writing at: 108 Main Street, Madisonville, TN 37354
  • By telephone at: (423) 442-4545

 

You agree to cooperate with us completely in our attempts to recover from unauthorized Card or Check users and to assist in the prosecution of such persons. You will not be liable for any unauthorized use that occurs if you notify us promptly, either orally or in writing, of the loss, theft, or possible unauthorized use. In any case, your liability will not exceed $50.00. Furthermore, your liability will not exceed $0 if you report the Card lost or stolen for all transactions made over the Visa network.

 

  1. If Card is Refused: We are not responsible if a Merchant refuses to honor your Card of Checks. Although you may have the credit available, we may be unable to authorize credit due to system difficulties or mistakes. If your Account is over the Credit Limit or Past Due, authorization for charges may be declined.

 

  1. Returns and Adjustments: Merchants and others who honor the Card may give credit for returns or adjustments, and they will do so by sending the Bank a credit slip which will be posted to your You agree not to accept any cash refunds with respect to any adjustments for goods or services purchased. If your credits and payments exceed what you owe the Bank, the amount will be applied against future purchases and cash advances. If the amount is $1 or more it will be refunded upon your written request or automatically after 6 (six) months.

 

  1. Calls and Text Messages to your Cellular Phone: If you provide us with your cellular phone number or contact us from your cellular phone, you are providing this phone number for us or any third party acting on our behalf to contact you at this number. You agree that we may use this phone number to contact you for any business purpose concerning your account and you agree to be responsible for any fees or charges you incur as a result of providing this information. You may request this number not be used. We may offer options for text messages or other electronic communications that may be received or accessed from your cellular phone, and you agree that by enrolling in these services. You understand and agree to be responsible for any fees or charges you incur as a result of this enrollment.

 

  1. Cardholder Privacy: Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. All financial companies need to share customers’ personal information to run their everyday business. We do not share your personal information except as permitted by law to process your transactions, maintain your Account(s), respond to court orders and legal investigations, to report to credit bureaus, or to offer our products and services to you. We will provide a complete Privacy Notice when your Account is approved. If you would like a copy of our Privacy Notice, you may obtain one by visiting our website at volfed.bank. Your telephone calls with our representatives may be recorded for quality and other purposes. We may use automated telephone equipment or pre-recorded telephone calls to contact you at any number you provide to us or that we obtain, including any cellular telephone number. You agree that we will not be responsible for the release of information to anyone who has gained possession of a Card or Identification Number, Credit Account Number or Social Security Number.

 

  1. Credit Reports: You authorize us, at any time we feel appropriate, to obtain or conduct whatever credit investigation we feel is needed to evaluate your credit, personal or financial standing, and/or employment. Upon our request, you agree to provide us with your current financial information. You also authorize us to report information about your Account to consumer (credit) reporting agencies, and share your credit experience, including information on late payments, missed payments, or other defaults on your Account, with consumer reporting agencies, creditors and any others. This information may be reflected in your credit report.

 

  1. Change in Terms of your Credit Account: We may change any term of this Agreement at any time upon notice to you as required by You may have the right to reject the change in terms, depending on the type of change and, if you do, your account will be closed, and you will be able to pay off the balance under the terms of this Agreement.

 

  1. Notices and Statements: Any notice or Statements we mail to the address we have for you as shown in our records for this Account shall be considered to have been given and received by you.

 

  1. Governing Law: This Agreement is entered into in the State of Tennessee, where the decision to grant credit will be made. Therefore, this Agreement will be governed by the laws of the State of Tennessee applicable to agreements, and applicable to Federal Law.

 

  1. Default: Each of the following constitutes an event of default:

 

  • Your failure to make any payment when due and payable
  • Any payment is dishonored
  • Your failure to comply with any provision of this Agreement or any other agreement relating to other cards or devices that access your Account
  • You made an untrue statement on your application
  • Your death or insolvency, or your making an assignment for the benefit of creditors
  • The filing of a petition or commencement of any other proceeding under any bankruptcy, insolvency, or receivership law by or against you
  • Issuance of any writ, order or notice of attachment, levy, or garnishment against you or any of your property, assets, or income.
  • The occurrence of an event that gives us reason to believe that your ability to pay us on time has been impaired or that you may use your Card or Checks improperly.

 

Our rights in the event of default: We may, at our option and after giving you all legally required notices and rights to cure, declare all amounts you owe us immediately due and payable with interest at the rate provided in this Agreement, refuse to authorize further transactions, close your Account, cancel all cards, and revoke any privileges associated with such Cards. If this occurs, you agree to pay us, to the extent permitted by applicable law, all costs of collection, including, without limitation, reasonable attorneys’ fees, and expenses. Any such attorneys’ fees will be added to the unpaid Balance on your Account and interest will be charged on this amount at the rate provided in this Agreement. We also have the right to cancel this Agreement and take immediate possession of all Cards and Checks. If we close or permanently suspend your Account, you must destroy all Cards. If you resolve a default situation, we can still declare the same or another default later on your Account.

 

  1. Collection Costs: Unless prohibited by applicable law, if we start collection proceedings to recover amounts you owe us by reason of this contract, you agree to pay reasonable attorney’s fees and other collection costs.

 

  1. Cancellation: You may cancel your Account at any time by notifying us in writing at the address on your monthly Statement and returning all cards issued on your Account (cut in half). Even if your Account is closed, you agree to pay the balance on the account under the terms of this We can suspend your Account privileges or cancel your Account at any time, for any reason. We will notify you after we do so unless you are in default at that time. We have no obligation to notify you prior to suspending your charging privileges or cancelling your Account.

 

  1. Joint and Several Liability: Each applicant who signs the Account application shall be jointly and severally liable for all loans, purchases, advances, and balance transfers made on the Account, whether by Card, Check or otherwise.

 

  1. Severability: If any provision of this Agreement is invalid or unenforceable under any law, rule, or regulation, it will not affect the validity or enforceability of any other provision of this Contract.

 

  1. Headings: The headings used in this Agreement are for convenience only and are not intended to define, limit, or describe the scope or intent of this Agreement or in any way affect this Agreement.

Disclosure of Credit Card Terms

Account terms are not guaranteed for any period of time. All terms, including fees and APRs for new transactions, may change in accordance with the VolFed VISA Consumer Credit Card Agreement and applicable law based on information in your credit report, market conditions, business strategies, or for any reason. Please review all of these materials so that you are fully informed about the terms of this credit card offer.

INTEREST RATES AND INTEREST CHARGESVolFed VISA Consumer Credit Card with Rewards
Annual Percentage Rate (APR) for purchases14.50% or 18.50% based on your creditworthiness when you open your account. This APR will vary with the market based on the Prime Rate.
APR for Balance Transfers0.00% Introductory APR for the first 180 days from the date of first balance transfer, when transfers are completed within 60 days from date of account opening. After that, your APR will be

14.50% or 18.50% based on your creditworthiness when you open your account.  This APR will vary with the market based on the Prime Rate.
APR for Cash Advances14.50% or 18.50% based on your creditworthiness when you open your account.  This APR will vary with the market based on the Prime Rate.
Penalty APR and When it AppliesNot applicable
How to Avoid Paying Interest on PurchasesYour due date is at least 25 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month. We will begin charging interest on cash advances and balance transfers on the transaction date.
Minimum Interest ChargeIf you are charged interest, the charge will be no less than $1.
For Credit Card Tips from the Consumer Financial Protection BureauTo learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore
FEESVolFed VISA Consumer Credit Card with Rewards
Annual FeeNone

Transaction Fees

  • Balance Transfer
  • Cash Advance ATM
  • Cash Advance
  • Foreign Transaction

 

  • Either $10 or 3% of the amount of each transfer, whichever is greater.
  • Either $10 or 5% of the amount of each cash advance, whichever is greater (maximum fee: $25)
  • Either $10 or 3% of the amount of each cash advance, whichever is greater (maximum fee: $25)
  • 1% on all multi-currency and single currency international transactions

Penalty Fees

  • Late Payment
  • Returned Payment

 

  • $25
  • $25

 

How We Will Calculate Your Balance:  We use a method called “average daily balance (including new purchases).”  See your account agreement for more details.

Variable Rate Information:  Your APR will vary with the market based on the Prime Rate as published in the Wall Street Journal. The rate for Purchases, Balance Transfers and Cash Advances is determined by adding either 6.00% or 10.00% (based on your creditworthiness at the time you open your account) to the Prime Rate.  The maximum APR for your card is 29.99%.

Effective Date:  This disclosure represents important details concerning your credit card.  The information about costs of the card is accurate as of October 6, 2023, and is subject to change after that date. You can contact us at (423) 442-4545 or 108 Main Street, Madisonville, TN  37354 to inquire if any changes have occurred since the effective date.

Credit Limit Information:  Credit limits ranging from $2,000 - $15,000 are available for the VolFed VISA Consumer Credit Card with Rewards.  Higher limits may be approved based on additional underwriting guidelines and applicant creditworthiness.

Billing Rights:  Information on your rights to dispute transactions and how to exercise those rights is provided in your account agreement.

Important Information About Procedures for Opening a New Account. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

You agree that we may obtain consumer credit reports about you to review this application, and, if we open a credit card account for you, that we may obtain consumer credit reports about you in the future to review, update, renew, collect, and service your credit card account and for other purposes permitted by law. We will, if you request, tell you whether we obtained a consumer credit report about you and tell you the name and address of any consumer reporting agency that provided the report.

If we open a credit card account for you, you understand and agree that you will be subject to all terms and conditions described in our Consumer Cardmember Agreement, as amended from time to time, including but not limited to its terms related to account payments, rates and fees, change in terms, and arbitration. This Consumer Cardmember Agreement becomes effective the first time you or any Authorized User activates a Card or uses the Account in any way. You understand and agree that we may change the Consumer Cardmember Agreement and the rates, fees, and terms of your credit card account as allowed by law, after we give any notice and wait any time period that the law requires.

Consent for Communications: By applying and providing your telephone number(s) and email address(es), you expressly authorize us and our agents and service providers to use any available written, electronic, or verbal means of contacting you for any purpose related to the servicing and collection of your accounts with us, for surveys and research, and for any other informational purpose related to your accounts with us (each, a "Communication"). You agree this authorization for Communications includes, but is not limited to, our use of manual calling methods, prerecorded or artificial voice messages, text messages, e-mail messages, and/or automatic telephone dialing systems. You agree that we and our agents and service providers may contact you for these Communications using any e-mail address or telephone number you provide, including a number for a cellular telephone or other wireless device, regardless of any charges you may incur as a result. We will not charge you for making a Communication, but your service provider may. You agree that we and our agents and service providers may monitor and record telephone calls about your credit card account to assure service quality or for other legitimate business reasons. You understand and agree that we and our agents and service providers may always communicate with you in any manner permitted by law that does not require your prior consent.

Notice of Negative Information Furnishing: We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report