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Loan Application

 
( * Indicates Required Information )
Married applicants may apply for a separate account. If you are applying for Individual Credit, you must complete the Applicant section about yourself and the Co-Applicant section about your spouse if:
  1. You live in or the property pledged as collateral is located in a community property state (AZ, CA, ID, LA, NM, NV, TX, WA, WI),
  2. Your spouse will use the account, or
  3. You are relying on your spouse's income as a basis for repayment.

If you are relying on income from alimony, child support or separate maintenance, complete the Co-Applicant section to the extent possible about the person on whose payments you are relying.

If you are applying for Joint Credit with another person, complete the Applicant and Co-Applicant sections.

TYPE AND AMOUNT OF CREDIT YOU'RE REQUESTING
Is this your first loan from us? yes no
Amount/Credit Limit Requested: $ *
Approximate Time to Repay:    How Many? Periods: *
Loan Type:
Security Offered: *(for secured credit only)
Type of Credit: Individual Joint

PAYMENT PROTECTION COVERAGE (Check if desired)

Find out more about Payment Protection Insurance and why it's a better consumer value when offered through your credit union.

Check coverage(s) desired. We will disclose the cost of this Payment Protection Insurance - Credit Disability and Credit Life - to you. A separate enrollment form which discloses the terms and conditions must be signed for coverage to become effective.

Yes No Do you want your loan protected for you and your family if you become disabled?
Yes No Do you want your loan protected for you and your family in the event of your death?
TELL US ABOUT YOURSELF
Applicant
Co-Applicant
Name: * Name:
CU Account #: * CU Account #:
Social Security #: * Social Security #:
Please indicate your marital status if you are applying for Joint Credit, secured credit or if you live in a community property state:
Married Separated
Unmarried (Single - Divorced - Widowed)
Please indicate your marital status if you are applying for Joint Credit, secured credit or if you live in a community property state:
Married Separated
Unmarried (Single - Divorced - Widowed)
Driver's License #: *
State:
*
Driver's License #:
State:
Birth Date: * Birth Date:
Home Phone: *
Business Phone:
*
Home Phone:
Business Phone:
Present Address: *
Years There:
Own Rent *
Present Address:
Years There:
Own Rent
Monthly Rent/House Payment:$ *
Monthly Income: $ * Monthly Income: $
Employment Information
Name of Employer
Length of time with Employer
Address
City State Zip State: Zip:
Phone number

Please fax a recent pay stub to 281-870-9251

When applying for a vehicle loan, give the year, make and model (if known)
Year: Make: Model:
Personal Reference # 1
 

Name

Address

Phone Number

Personal Reference # 2
 

Name

Address

Phone Number

E-mail Address: (required)
Please indicate the method you would prefer us to use when we respond:
Phone E-Mail

By submitting this loan request, you agree that the information is correct to the best of your knowledge. You also agree to notify us of any changes to your name, address or employment.

You authorize the credit union to obtain credit reports in connection with this request.

TERMS USED IN THIS AGREEMENT: "You" and "your" mean any person who signs this Agreement or uses the card. "Credit Union" means BP Federal Credit Union. "The card" means any credit card issued to you or those designated by you and under the terms of this Agreement. "Use of this card" means any procedure used by you, or someone authorized by you, to make a purchase or obtain a cash advance whether or not the purchase or advance is evidenced by a signed written document. "Unauthorized use of the card" means use of the card by someone other than you who does not have actual, implied or apparent authority for such use, and from which you received no benefit.

EXTENSIONS OF CREDIT: If your application is approved, the Credit Union may, at its discretion, establish a Credit Card account in your name and cause one or more cards to be issued to you or those designated by you. You can use your account to buy goods and services or to obtain cash advances any place the card is honored. In addition, if available, we can send you a supply of Convenience Checks and you can get an advance from your account simply by writing a Check. Any Check written by you must be in an amount not less than $100. You authorize the Credit Union to pay for your account all items reflecting credit purchases and cash advances obtained through the use of the card or your Convenience Checks.

CONVENIENCE CHECKS: If available, you may use the Convenience Checks to obtain a cash advance or purchase goods or services up to your available credit limit. You understand and agree that if you write a Convenience Check which would cause the outstanding balance in your account to exceed your credit limit, such Check will be dishonored and will be returned unpaid by the Credit Union. Convenience Checks may be used like any other checks; however, you agree that you will not make any payment on your account with a Convenience Check. All Convenience Checks will be treated as a cash advance for the purpose of computing FINANCE CHARGES. You understand the Convenience Checks paid by the Credit Union will not be returned to you.

CREDIT LIMITS: You promise that payments made for your account resulting from use of the card will, at no time, cause the outstanding balance in your account to exceed your credit limit as set forth at the bottom of the application or as adjusted from time to time at the discretion of the Credit Union.

PROMISE TO PAY: You promise to repay the Credit Union all payments made for your account resulting from the use of the Card plus a FINANCE CHARGE on the unpaid balance. At the end of each monthly billing cycle, you will be furnished with a periodic statement showing (i) the "previous balance" (the outstanding balance in the account at the beginning of the billing cycle), (ii) the amount of all cash advances, purchases and FINANCE CHARGES posted to your account during the billing cycle, (iii) the amount of all payments and credits posted to your account during the billing cycle, and (iv) the "new balance" which is the sum of (i) and (ii) less (iii).
You agree to pay on or before the "payment due date" shown on the periodic statement either the entire "new balance", or a minimum payment equal to 2% of the "new balance", or $20 whichever is greater. If the "new balance" is $20 or less, you will pay it in full.

COST OF CREDIT: You will pay a FINANCE CHARGE for all advances made against your account at the periodic rate of: MasterCard, .032876% per day, which is a corresponding ANNUAL PERCENTAGE RATE of 12%; Visa, .032876% per day, which is a corresponding ANNUAL PERCENTAGE RATE of 12%; Gold MasterCard, .032876% per day, which is a corresponding ANNUAL PERCENTAGE RATE of 12%; Visa Gold, .032876% per day, which is a corresponding ANNUAL PERCENTAGE RATE of 12%; Cash advances incur a FINANCE CHARGE from the date of the transaction. New purchases will not incur a FINANCE CHARGE on the date they are posted to the account if you have paid the account in full by the due date shown on your previous monthly statement or if there was no previous balance. No additional FINANCE CHARGE will be incurred whenever you pay the account in full by the due date. The FINANCE CHARGE is figured by applying the periodic rate to the "balance subject to FINANCE CHARGE" which is the "average daily balance" of your account, including certain current transactions. The "average daily balance" is arrived at by taking the beginning balance of your account each day and adding any new cash advances, and, unless you pay your account in full by the due date shown on your previous monthly statement or there is no previous balance, adding in new purchases, and subtracting any payments or credit and unpaid FINANCE CHARGES. The daily balances for the billing cycle are then added together and divided by the number of days in the billing cycle. The result is the "average daily balance". The FINANCE CHARGE is determined by multiplying the "average daily balance" by the number of days in the billing cycle and applying the periodic rate to the product. You may pay any amounts outstanding at any time without penalty for early payment. Rates are effective 10/1/98.

LATE PAYMENT FEE: If any payment is past due for a period of more than fifteen (15) days, you will be charged a late charge of $10.00.

OVER-THE-CREDIT-LIMIT FEE: If you make a purchase or obtain a cash advance which causes the outstanding balance in your account to exceed your credit limit, you will be charged an over-the-credit-limit fee of $10.00 per monthfor as long as you exceed your credit limit. Any charge made under this paragraph will be added to the balance of your account and treated as a credit purchase.

LIABILITY FOR UNAUTHORIZED USE: You may be liable for the unauthorized use of your card. You will not be liable for the unauthorized use that occurs after you notify the Credit Union (or the Credit Union's designee) orally or in writing, of the loss, theft, or possible unauthorized use. In any case, your liability will not exceed $50.00.

CREDITING OF PAYMENTS: All payments received by 2:00 p.m. Central Standard Time (during your designee's business day at the address designated for payment on the periodic statement) will be credited to your account as of the date of the receipt. If payment is made at any location other than said designated address on the periodic statements, credit for such payment may be delayed up to five (5) days. Payment will first be applied to insurance premiums, the FINANCE.CHARGE owing, and then to pay off the unpaid balance. A $20 fee will be assessed on all checks returned for insufficient funds.

SECURITY: As security for any advances to you or on your behalf, you pledge to the Credit Union all present and future shares or deposits you have in any account in the Credit Union in which you have an interest. You authorize the Credit Union to take that money and apply it to what you owe if you are in default. The Credit Union may, but does not have to, allow you to withdraw a portion of your shares or deposits without affecting its security interest. Collateral securing other loans with the Credit Union will also secure payments for your account under this Agreement.

DEFAULT: You will be in default: (1) if you fail to make any payment on time; (2) if you exceed your authorized credit limit; (3) if you fail to keep any promises you have made under this or any other agreement with the Credit Union; (4) if you are the subject of an order for relief under Title II of the U.S. Code (Bankruptcy); (5) if anyone tries, by legal process, to take any of your money in the Credit Union; (6) if you have given the Credit Union false or inaccurate information in obtaining your card; or (7) if anything happens which the Credit Union reasonably believes endangers your ability to repay what you owe.

ACCELERATION: If you are in default, the Credit Union may call any amounts you still owe immediately due and payable plus FINANCE CHARGES which shall continue to accrue until the entire amount is paid. You waive presentment, demand, notice of intention to accelerate, and notice of acceleration of the maturity of any amounts owing under this Agreement. The card and the Convenience Checks remain the property of the Credit Union at all times, and you agree to immediately surrender the card and the Convenience Checks on the demand of the Credit Union. You agree to pay all reasonable costs of collection, including court costs and attorney fees, imposed, and any cost incurred in the recovery of the card.

CONFORMING CHARGES TO APPLICABLE LAW: Notwithstanding any other provisions contained in this Agreement, the Credit Union does not intend to charge, and you shall not be required to pay any amount of FINANCE CHARGES or other fee or charge that is in excess of the maximum permitted by applicable law. Any payments in excess of the maximum shall be refunded to you or credited against your principal balance at the option of the Credit Union.

NON-WAIVER: The Credit Union can accept late payment(s) or partial payment(s) or check(s) or money order(s) marked "Payment in Full" without losing any of its rights under this Agreement. The Credit Union can also delay enforcing any of its rights under this Agreement without losing them.

ADDITIONAL PROVISION: Each provision of this Agreement must be considered as part of the total Agreement and cannot, in any way, be severed from it. However, you also agree that should any part of this Agreement be found invalid, it will in no way affect the remainder of this Agreement. You understand that the validity, construction and enforcement of this Agreement shall be governed by the laws of the State of Texas.
The Credit Union does not warranty any merchandise or services purchased by you with the Card. All purchases and cash advances are extended at the option of the merchant or cash advancing financial institution and the Credit Union is not responsible for refusal of any merchant or financial institution to honor your card.

TERMINATION OR CHANGES: The Credit Union can, by written notice, terminate this Agreement at any time. You may terminate this Agreement, by written notice, as to future advances at any time. Termination by either party shall not affect your obligation to repay any payments made for your account resulting from the use of the Card as well as FINANCE CHARGES and other related charges.

PLAN AGREEMENT CHANGE: The Credit Union may change or modify the terms of this Agreement, including the periodic rate, from time to time, upon written notice to you at your last known address as shown on the Credit Union records and all such changes or modifications shall become effective upon the date and in the manner specified in the notice. Any change may effect current and future balances and will be subject to the special conditions contained in this notice.
By signing this Agreement and any other related documents or using the card, each person agrees to all the terms and conditions and promises to perform all the obligations, requirements and duties contained in this Agreement. The person signing as Borrower acknowledges receipt of a copy of this Agreement.

effective 10/1/98

©CUNA MUTUAL INSURANCE SOCIETY, 1980, 82, 84, 86, 89. ALL RIGHTS RESERVED CSTLR1 6857 _ Internet Loan Request

 

 
580 West Lake Park Blvd. • Suite 150 • Houston, TX 77079 info@bpfcu.org
   
 
 Local Phone: (281) 870-8000 • Toll Free (888) 907-1413 Fax (281) 870-9251
   
     
 
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Page Updated: June 16, 2008
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