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Routing Number: 272479663
Swift Code: MSUCUS44
MSUFCU | Disclosures | Business

Business Account Disclosures

Introduction. This Visa Debit Card for Business Agreement (“Agreement”) contains contract terms and other important information relating to your Visa Debit Card for Business (“Card”). These terms govern the operation of this account unless varied or supplemented in writing. This Agreement also incorporates any other terms and conditions provided separately with your account agreement as well as the terms of any disclosures you may have received. You should read this Agreement carefully and keep a copy for your records.

Applicable Law. This Agreement will be governed by the laws of the state in which your account is located as well as federal laws and regulations. Normal banking customs and practices also apply.

Definitions. Unless inconsistent, words and phrases used in this document shall be construed so that the singular includes the plural and the plural includes the singular. The words “we,” “our,” and “us” refer to the financial institution which issues the Card. The words “you” and “your” refer to the owner of the specific account for which Card transactions are permitted. The word “Cardholder” refers to any person authorized by you to use the Card.

Business Card Purpose. You and any Cardholder agree that this Card is for use by business owners and employees. The Card can be used for business purpose point-of-sale and Automated Teller Machine (ATM) transactions only. The Card may not be used for personal purposes. You acknowledge and understand that the Card shall not be treated as a consumer card under the provisions of state and federal law. You agree to provide written instructions to all Cardholders that the Card shall not be used for consumer purposes. We assume all transactions are for business purposes. We do not monitor transactions to determine their purpose.

Account Requirement, Payment Responsibility, Transferability, Enforceability. The
services described in this Agreement will be available to you only as long as you maintain a business checking or savings account with us. You are liable for the payment of Card transactions authorized by you or your agent or any Cardholder or their agent. This account may not be transferred or assigned without our written consent. If any terms of this Agreement cannot be legally enforced, it will be considered changed to the extent necessary to comply with applicable laws. If any part of this Agreement becomes unenforceable, it will not make any other part unenforceable.

How to Use the Business Card, Security Procedures. The Card allows Cardholders to directly access the business checking or savings account specified in your Card Application. We will issue Cards and codes to you at your request. Each Card will identify your business as well as the Cardholder.

You agree to the following security procedures. Each Cardholder must sign their Card before it may be used. You agree to require both a Card and a code to be used together to obtain cash at designated ATMs. However, you may use your Card to purchase goods or pay for services without a code. Once a Card has been issued it cannot be transferred to another person. You agree to immediately notify us when you terminate a Cardholder’s rights and to promptly return the Card to us. You agree to provide written instructions to all Cardholders about the importance of protecting the Card and code. You agree to examine your receipts and periodic statements in a timely manner. You agree that the dollar/frequency limits assigned to each
Cardholder will also act as a security procedure.

Termination and Amendments.
• We may terminate this Agreement by written or verbal notice to you. Written
confirmation will accompany any verbal notice.
• You may terminate this Agreement by verbal request to close card or account.
• You may terminate this Agreement by written notice to us.

We may make amendments to this Agreement in the same method as provided in the terms and conditions provided in your account agreement. Use of your Card after receipt of notice of an amendment constitutes your acceptance of the change.

Notices. Any notices mailed to you under this Agreement will be mailed to the address we have for you in our records. You will keep us notified of your current mailing address.

Minimum Account Balance. You must maintain a minimum account balance of $5.00 in your Business Spartan Saver account as a condition of using your Card and/or code to accomplish a transfer.

Order of Payment. Our policy is to post and pay Card transactions in the order they are received. We reserve the right to pay Card transactions before checks, drafts, and other items.

Overdraft Protection. If your account has an overdraft protection feature, unless otherwise agreed in writing, Card transactions that would otherwise overdraw your account will be covered by the overdraft protection feature. Your overdraft protection feature will be documented on a separate agreement. You should become familiar with that document as some of the terms, such as your liability for unauthorized transfers initiated with your Card, may vary from the terms of this Agreement.

Stop Payment. Only stop-payment requests from you or the Cardholder who authorized the transaction will be honored. However, because Card transactions are often processed immediately, stopping or amending payment is difficult and we cannot ensure that any request you make will be effective. In order to be effective, we must receive your request in time to give us a reasonable opportunity to act. Your request must precisely identify the transaction by date, time, location and dollar amount. Only you may release a stop-payment request.


Below are the types of transactions your Card will accommodate.

ATM Transfers. You may access your account by ATM using your Card and code to:

• make deposits to your checking account.

• make deposits to your savings account.

• get cash withdrawals from your checking account.
- you may withdraw no more than $500.00 per card per day.

• get cash withdrawals from your savings account.
- you may withdraw no more than $500.00 per card per day.

• transfer funds from your checking account to your savings account.

• transfer funds from your savings account to your checking account.

• transfer funds from your line of credit to your checking account.

• transfer funds from your line of credit to your savings account.

• get information about:
- the account balance of your checking account.
- the account balance of your savings account.

Some of these services may not be available at all terminals.

Your Option to Limit Cash Withdrawals. In addition to dollar amount limitations for
withdrawals using your Card and code that we may establish, you have the option to limit the amount of cash that can be withdrawn by your Card and code to $50.00 per day or some other amount acceptable to us.

Point-of-Sale Transactions. You may access your checking or savings account with your Card to purchase goods (in person, online, or by phone), pay for services (in person, online, or by phone), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that a participating merchant will accept.

Using your Card and/or code:

• you may not exceed $1,000.00 in transactions per day per card.

Currency Conversion: When you use your Visa Debit Card, Visa Credit Card, or ATM card for international transactions, a fee will be assessed. You agree to pay a 1.00% International Transaction Fee for ATM transactions and a 3.00% International Transaction Fee for “all other” international transactions and cash advances. The fee will be assessed on International transactions if a currency conversion does take place or if the transaction is processed in U.S. dollars. When you use your Visa Debit Card, Visa Credit Card or ATM card at a merchant that settles in, or at an ATM that dispenses, currency other than U.S. dollars, the charge will be converted into the U.S. dollar amount. The currency conversion rate used to determine the transaction amount in U.S. dollars is either a wholesale market rate or the governmentmandated
rate in effect the day before the processing date. The conversion rate in effect on
the processing date may differ from the rate in effect on the transaction date or posting date. The International Transaction Fee will be calculated after the transaction has been converted to U.S. dollars.

Advisory Against Illegal Use. You agree not to use your Card for illegal gambling or other illegal purpose. Display of a payment card logo by, for example, an online merchant does not necessarily mean that transactions are lawful in all jurisdictions in which the Cardholder may be located.

Non-Visa Debit Transaction Processing. We have enabled non-Visa debit transaction
processing. This means you may use your Visa Debit Card for Business on a PIN-Debit Network* (a non-Visa network) without using a PIN. The non-Visa debit network(s) for which such transactions are enabled are: NYCE, CO-OP, and CIRRUS Networks.

Examples of the types of actions that you may be required to make to initiate a Visa transaction on your Visa Debit Card for Business include signing a receipt, providing a card number over the phone or via the Internet, or swiping the card through a point-of-sale terminal.

Examples of the types of actions you may be required to make to initiate a transaction
on a PIN-Debit Network include initiating a payment directly with the biller (possibly via
telephone, Internet, or kiosk locations), responding to a logo displayed at a payment site and choosing to direct payment through that network, and having your identity verified using known information derived from an existing relationship with you instead of through use of a PIN.

The provisions of your agreement with us relating only to Visa transactions are not applicable to non-Visa transactions. For example, the additional limits on liability (sometimes referred to as Visa’s zero-liability program) and the streamlined error resolution procedures offered on Visa debit card transactions are not applicable to transactions processed on a PIN-Debit Network.

*Visa Rules generally define PIN-Debit Network as a non-Visa debit network that typically authenticates transactions by use of a personal identification number (PIN) but that is not generally known for having a card program.


• Please refer to the separate fee schedule for additional information on fees.


Terminal Transfers. You can get a receipt at the time you make a transfer to or from your account using an automated teller machine or point-of-sale terminal. However, you may not get a receipt if the amount of the transfer is $15 or less. The machine receipt provided to you is admissible evidence.

Retain Copies for Your Records. You should retain copies of all records including receipts, credit slips (for returned merchandise), and cancellation numbers (for cancelled reservations). You should also mark each transaction in your account record (but not while at a terminal). You should review your periodic statement for accuracy and compare your account record against your periodic statement to reconcile balances.

Periodic Statements. You will get a monthly account statement from us for your checking account that will also include a record of transactions made using your Card. The periodic statement provided to you is admissible evidence.

Periodic Statements. You shall be provided with a periodic statement for your savings
account not less than once a month in which an electronic fund transfer occurs, or quarterly, whichever is more frequent. The periodic statement provided to you is admissible evidence.


We will not be liable if:

• you do not have enough money in your account to make the transfer.

• you have an overdraft line and the transfer would cause you to exceed your credit limit.

• an ATM does not have sufficient cash.

• a terminal or system is not working properly.

• circumstances beyond our control (such as fire or flood) prevent the transfer.

• a merchant refuses to accept your Card.

• an ATM rejects your Card.

There may be other limitations on our liability.


Your Liability for Unauthorized Transfers. We will be liable for unauthorized transfers
unless we can prove 1) that your negligence substantially contributed to the unauthorized transfer; and 2) that we exercised reasonable care to prevent the loss.

Tell us AT ONCE if you believe your Card and/or code has been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). You may be liable for any unauthorized transfer before the time you notify us that your Card and/or code has been compromised if:

(i) you or the Cardholder write your code on the Card.

(ii) you or the Cardholder keep your code with the Card.

(iii) you or the Cardholder voluntarily permit the Card and/or code to come into the
possession of a person who makes or causes an unauthorized transfer.

If you fail to notify us of an unauthorized transfer within 30 days after the receipt of a statement containing the unauthorized transfer, you shall be liable for subsequent unauthorized transfers that could have been prevented by timely notification.

Additional Limit on Liability. Unless you have been grossly negligent or have engaged in fraud, you will not be liable for any transactions using your lost or stolen Card if you report the unauthorized transfer within 60 days of the mailing date of the first statement showing the unauthorized transfer. Unauthorized transfers do not include: 1) any transaction by a business coowner, a cardholder or person authorized by a cardholder, or other person with an interest in or authority to transact business on the account; or 2) any transaction by a cardholder that exceeds the authority given by the Visa Business check card account owner. This additional limit on liability does not apply to ATM transactions or to transactions using your Personal Identification Number which are not processed by Visa.®

Contact in Event of Unauthorized Transfer. If you believe your Card and/or code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call or write us at the telephone number or address listed in this brochure.

Consequential Damages. We will not be liable for any consequential or incidental damages resulting from the unauthorized use of your Card.


If you believe that any provision of the Michigan Electronic Funds Transfer Act has been violated you should notify Michigan Department of Consumer and Industry Services, Office of Financial and Insurance Regulation, at PO Box 30224, Lansing, MI 48909.


You agree to examine your receipts and periodic statements and immediately report any errors or problems to us at the telephone number or address listed in this brochure. If you tell us orally, we may require your complaint or question in writing within 14 calendar days.

You have the right to seek correction of an error on your statement by notifying us orally
or in writing within 60 days after receipt of the statement containing an error. If you do not report within 60 days, we will be entitled to treat such information as correct and you will be precluded from asserting otherwise. We will respond to you within 10 business days (5 business days for a point-of-sale transaction processed by Visa) after notification by either 1) provisionally correcting your account; or 2) providing a written explanation stating the reason we believe the statement is correct. Provisional correction allows us to charge the correction back to your account for up to 60 days. An “error” consists of

(a) An unauthorized electronic fund transfer;

(b) An incorrect electronic fund transfer from or to your account; or

(c) The omission of an electronic fund transfer affecting your account.

PO BOX 1208
EAST LANSING, MI 48826-1208

Business Days: Monday through Friday
Excluding Federal Holidays
Phone: 800-678-4968 or 517-333-2424


As with all financial transactions, please exercise discretion when using an automated teller machine (ATM) or night deposit facility. For your own safety, be careful. The following suggestions may be helpful.

1. Prepare for your transactions in advance (for instance, by filling out a deposit slip) to
minimize your time at the ATM or night deposit facility.

2. Mark each transaction in your account record, but not while at the ATM or night deposit facility. Always save your ATM receipts. Don’t leave them at the ATM or night deposit facility because they may contain important account information.

3. Compare your records with the account statements you receive.

4. Don’t lend your ATM Card to anyone.

5. Remember, do not leave your Card at the ATM. Do not leave any documents at a night deposit facility.

6. Protect the secrecy of your Personal Identification Number (PIN). Protect your ATM
Card as though it were cash. Don’t tell anyone your PIN. Don’t give anyone information
regarding your ATM Card or PIN over the telephone. Never enter your PIN in any ATM
that does not look genuine, has been modified, has a suspicious device attached, or is operating in a suspicious manner. Don’t write your PIN where it can be discovered. For example, don’t keep a note of your PIN in your wallet or purse.

7. Prevent others from seeing you enter your PIN by using your body to shield their view.

8. If you lose your ATM Card or if it is stolen, promptly notify us. You should consult the
other disclosures you have received about electronic fund transfers for additional
information about what to do if your Card is lost or stolen.

9. When you make a transaction, be aware of your surroundings. Look out for suspicious activity near the ATM or night deposit facility, particularly if it is after sunset. At night, be sure that the facility (including the parking area and walkways) is well lighted. Consider having someone accompany you when you use the facility, especially after sunset. If you observe any problem, go to another ATM or night deposit facility.

10. Don’t accept assistance from anyone you don’t know when using an ATM or night
deposit facility.

11. If you notice anything suspicious or if any other problem arises after you have begun an ATM transaction, you may want to cancel the transaction, pocket your Card and leave. You might consider using another ATM or coming back later.

12. Don’t display your cash; pocket it as soon as the ATM transaction is completed and
count the cash later when you are in the safety of your own car, home or other secure

13. At a drive-up facility, make sure all the car doors are locked and all of the windows are rolled up, except the driver’s window. Keep the engine running and remain alert to your surroundings.

14. We want the ATM and night deposit facility to be safe and convenient for you. Therefore, please tell us if you know of any problem with a facility. For instance, let us know if a light is not working or there is any damage to a facility. Please report any suspicious activity or crimes to both the operator of the facility and the local law enforcement officials immediately.

Rev. 1/13