Truth in Lending Disclosure

United Federal Credit Union's filed agreement for Truth in Lending Disclosure discloses a 18% purchase APR, no annual fee and a 2.99% introductory rate. That purchase rate ranks near the 34th percentile across this corpus of 4,587 filings.

What the agreement puts on the record

What follows is drawn entirely from United Federal Credit Union's CFPB filing for Truth in Lending Disclosure. The filing runs two pages.

Terms captured from the document include a purchase rate, a balance transfer rate, an annual fee line, a late payment maximum and a foreign transaction fee. A cash advance rate and a penalty rate are not stated.

Introductory pricing

An introductory rate of 2.99% appears without a disclosed duration.

Among the 763 filings here that disclose an introductory rate, 2.99% sits at about the 79th percentile.

Behind the promotion sits a 18% purchase rate. On $2,500 that is in the region of $493 a year once the window closes.

How the purchase rate compares

18% puts the purchase APR near the 34th percentile across 2,280 agreements, so it sits below the middle of the distribution.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

To be precise about which number this is: the filing identifies it as the rate that takes over after the introductory period, not the introductory rate.

The cost of carrying a balance

At the disclosed purchase APR, $1,000 revolving for a full year costs something like $197 in interest.

The corpus median purchase rate is 21.99%, which on the same $1,000 would cost about $246 a year. This filing saves roughly $49 annually against that benchmark.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

Fees, and what triggers them

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

The filing discloses a 17.74% balance transfer rate without an accompanying fee figure.

Foreign transactions carry no fee. Only about 22% of the filings here that disclose a foreign transaction fee set it at zero, so this is a genuine point of difference.

Default pricing

Late payments are capped at $39 under this filing, about the 63rd percentile of late fee maximums in the corpus.

Paying in full

21 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. With a corpus median of 25 days, this window is narrower than the norm.

No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.

The limits of this document

Absent from the captured terms: anything about cash advances and penalty pricing. The original document is the place to look for any of these.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

Where the authority sits

Everything here is a reading of the filed agreement, two pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

At 18% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.