Common use of Monthly Payment Clause in Contracts

Monthly Payment. We will mail you a statement each month when transactions or an owing balance appears on your account. The statement will show your Previous Balances of Purchases, the current transactions on your account, the remaining credit available under your Credit Line, the New Balance of purchases, the Total New Balance, the FINANCE CHARGES due date, any other billed fees, and the Minimum Payment required. If you signed up to receive your statements electronically (e-statement), we will send you an electronic notification when your statement is ready for you to view. You must pay at least the Minimum Payment required by the Payment Due Date noted on your statement. The Minimum Payment will be either (a) 2.5% of your Total New Balance, or $25, whichever is greater, or (b) your Total New Balance, if it is less than $25 plus (c) any portion of the Minimum Payment(s) shown on prior statement(s) which remains unpaid. At any time your Total New Balance exceeds your Credit Limit, you must immediately pay the excess upon our demand. You may pay more frequently, pay more than the Minimum Payment or pay the Total New Balance in full before the “Payment Due” date. You will avoid FINANCE CHARGES on New Purchases if you pay the Total New Balance in full before the “Payment Due” date. All mailed payments must be made by check or money order. You agree that any payment you make may be returned to you without applying it to your Account and without presentment or protest, for any reason, including if the check or money order is (1) not drawn on the U.S. Post Office or a financial institution located in the United States; (2) missing a signature; (3) restrictively endorsed; (4) post dated; (5) not payable to TruWest Credit Union; (6) not drawn in U.S. dollars on funds on deposit in the U.S.; or (7) not paid upon presentment. You agree to pay any bank or financial institution collection fees we incur for any check payments made in U.S. Dollars drawn on a financial institution not located in the United States. All payments under this Agreement must be received at the address specified on your billing statement. Disputed payments, including those marked “Payment in Full” or otherwise restrictively endorsed must be mailed to TruWest Credit Union, PO Box 78637, Phoenix, AZ 85062-8637.

Monthly Payment. We will mail Each month you a statement each month when transactions or an owing balance appears on your account. The statement will show your Previous Balances of Purchases, the current transactions on your account, the remaining credit available under your Credit Line, the New Balance of purchases, the Total New Balance, the FINANCE CHARGES due date, any other billed fees, and the Minimum Payment required. If you signed up to receive your statements electronically (e-statement), we will send you an electronic notification when your statement is ready for you to view. You must pay at least the Minimum Payment required minimum payment due on your billing statement by the Payment Due Date noted on due date specified. If you make extra payments or larger payments, you are still required to make at least the minimum payment each month your statementAccount has a balance. The Minimum Payment will be either (a) 2.5% of your Total New BalanceIn addition, or $25, whichever is greater, or (b) your Total New Balance, if it is less than $25 plus (c) any portion of the Minimum Payment(s) shown on prior statement(s) which remains unpaid. At at any time your Total New Balance exceeds your Credit Limitcredit line, you must immediately pay the excess upon our demandamount over your credit line. You We may pay more frequently, pay more increase the minimum payment due on promotional and/or protected balances. The minimum payment due on these balances will not be greater than double the Minimum Payment or pay the Total New Balance in full before the “Payment Due” date. You will avoid FINANCE CHARGES on New Purchases if you pay the Total New Balance in full before the “Payment Due” date. All mailed payments must be made by check or money order. You agree that any standard minimum payment you make may be returned to you without applying it to your Account and without presentment or protest, for any reason, including if the check or money order is (1) not drawn percentage as indicated on the U.S. Post Office or a financial institution located in credit disclosure. The minimum payments for these balances will be calculated separately and added to the United States; (2) missing a signature; (3) restrictively endorsed; (4) post dated; (5) not payable to TruWest Credit Union; (6) not drawn in U.S. dollars on funds on deposit in the U.S.; or (7) not paid upon presentmentstandard minimum payment calculation. 13.Payment Instructions. You agree to pay any bank or financial institution collection fees we incur for any check payments made us amounts you owe in U.S. Dollars dollars. You must use a check, money order or electronic debit drawn on a financial institution not located U.S. bank or a foreign bank branch in the United StatesU.S. We will not accept cash payments through the mail. All When we receive or apply a payment, we might not restore your available credit by that amount for up to five (5) days. For mailed payments, your billing statement and the envelope it comes in gives you instructions about how, when, and where to make payments. You must follow these instructions. Your payments under this Agreement must will not be received credited to your Account before we receive it at the address specified we specify for receipt of payments and in accordance with the payment instructions. If you make a payment marked as paid in full or indicate that it is to pay all amounts you owe us, we may accept this payment and not agree that it pays all amounts you owe on your billing statementAccount. Disputed paymentsAlso, including those marked “Payment in Full” we may return this payment to you and you will still owe us the amount of the payment or otherwise restrictively endorsed must any other amounts owed on your Account. You authorize us to collect any payment check either electronically or by draft. Funds may be mailed taken from your financial institution account on the same day we receive your payment. We will keep an electronic copy of your check and securely destroy the original check. We may allow you to TruWest Credit Unionmake payments electronically through our credit card web site or with our Member Service Representatives, PO Box 78637, Phoenix, AZ 85062-8637or by using our Autopay feature. We will provide the terms for these payment services before you use them.