The CARD Act of 2009
What does it mean to you?


By now, many of our members have seen or heard about the Credit Card Accountability, Responsibility, and Disclosure Act of 2009 (aka the CARD Act). This new Act has many consumer-friendly provisions and is great news for cardholders around the country.

The question many of our members might ask is - "How will the CARD Act affect my ACU accounts?" Our answer is easy - very little! Many of the new rules have been staples of our lending and Visa programs since their inception, so you can expect your experience to remain largely unchanged. However, there are some minor changes we want to point out:

Loan Payments
       If you have a loan with us, you may notice a new due date and payment amount on your statement. The CARD Act requires us to provide a new statement 21 days prior to the due date of your loan. To comply, we have adjusted all open end loans to utilize a single monthly payment. If you make regular payments on a weekly or biweekly schedule, you should continue to make your regularly scheduled payments. Your loan payment was calculated so that your existing payment schedule will always keep your loan current.

  

ACU Platinum Visa Card
       If you have our Visa Platinum credit card, you can expect even fewer changes. The CARD Act prevents credit card companies from participating in many practices that increase the rates and fees charged of their cardholders. While many credit card companies are eliminating or restructuring rewards programs and raising interest rates and fees to maintain their profits, ACU Platinum Visa cardholders can expect all the benefits and features they have always received to continue.
Don't have an ACU Platinum Visa? Now is the perfect time to apply.
Our card features no annual fee, free balance transfers, an attractive rewards
program, and best of all - a rate that is less than half of the national average*.
Visit our website or call a loan officer today to apply.

 *Source: CreditCards.com Weekly Credit Card Rate Report 09/10/2009

If you have any questions about how your account may have been affected by the CARD Act, please call us at 800-245-8112.