Welcome! Here’s Important Information
About Your Holiday Loan

Please read the information below and acknowledge your acceptance by clicking ‘Accept and Continue’ at the bottom of the page. Then provide a few pieces of information and get ready to enjoy your extra cash!

In this CLOSED-END LOAN DISCLOSURE & AGREEMENT, the words “you” and “your” refer to the borrower. This document, along with the terms of credit offered under the Note constitute the “agreement” between the borrower and Rancho Federal Credit Union with respect to the terms of credit offered under the loan. You agree to these terms:

You promise to pay to the Credit Union all monies borrowed with this loan plus a finance charge according to the terms disclosed.

PAYMENTS MARKED “PAID IN FULL”: The Credit Union may accept checks, money orders, or other types of payments marked “paid in full” or using other language to indicate full satisfaction of any indebtedness, without being bound be this language and waiving any rights under this Agreement. Full satisfaction of indebtedness may be accepted be the Credit Union only in a written agreement, signed by an authorized employee of the Credit Union.

LATE CHARGE-If you are late in making a payment, you promise to pay the late charge disclosed above.

DEFAULT-You will be in default if you do not make a payment of the amount required on or before the date it is due. You will be in default if you break any promise you make in connection with this loan. You will be in default if something happens that we believe may seriously affect your ability to repay what you owe us. You will be in default if you die, file for bankruptcy, or a receiver is appointed for your property, or you are insolvent. When you are in default, we may demand immediate payment of the entire unpaid balance.

PLEDGE OF SHARES-You pledge all present and future shares and deposits in the Credit Union. In case you default, we may apply any shares and deposits to the payment of all sums you owe at the time of default, including costs of collection and reasonable attorney’s fees. The pledge of shares does not include funds held in an IRA.

COLLECTION COST- You promise to pay all cost of collecting the amount you owe under this agreement including court costs and reasonable attorney fees.

Other fees and charges that may apply are disclosed in the Schedule of Fees. Should any of these fees or charges apply to your obligations under this Agreement, these fees and charges may/may not be included in the FINANCE CHARGE. For example, if you make a loan payment that is returned, you agree to pay a Returned Item Fee.

DELAY IN ENFORCING RIGHTS-We can delay enforcing any of our rights any number of times without losing the ability to exercise our rights later. We can enforce this Agreement against your heirs or legal representatives.

The Credit Union may enforce this Agreement against your heirs, successors, assigns, executors or administrators, and legal representatives, if necessary.

This Agreement is made in California and is governed by the laws of the State of California to the extent that California law is not inconsistent with controlling federal law. In the event of a lawsuit, you agree that the Credit Union may sue you in the place where its office is located.

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