Visa Platinum Secured Members 1st Federal Credit Union

Members 1st Federal Credit Union's filed agreement for Visa Platinum Secured Members 1st Federal Credit Union discloses a 18% purchase APR and a $25 annual fee. Against the 4,587 filings on this site, that rate lands around the 34th percentile.

On the face of the filing

Visa Platinum Secured Members 1st Federal Credit Union is one of the agreements Members 1st Federal Credit Union has on file with the CFPB. The filing runs three pages, and It is issued on the Visa network.

On the record here: a purchase rate, a cash advance rate, an annual fee line, a late payment maximum and a foreign transaction fee. It is silent on a balance transfer rate, a penalty rate and a grace period.

A secured agreement

Secured cards work against a deposit held by the issuer. The rate and fee figures summarised here say nothing about the size of that deposit or the terms attached to it, both of which are matters for the agreement text itself.

Securing the line has not placed this agreement at the bottom of the market — 18% ranks near the 34th percentile across every filing indexed here.

The purchase rate in context

18% puts the purchase APR near the 34th percentile across 2,280 agreements, so it undercuts the typical filing.

Translating the rate into money

The purchase rate turns a $1,200 revolving balance into roughly $237 of annual interest.

Priced at the median of 21.99%, that balance would generate about $295 in a year — so this agreement comes in around $58 cheaper for the same debt.

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.

Default pricing

Late payments are capped at $15 under this filing, about the 11th percentile of late fee maximums in the corpus.

Charges beyond interest

$25 a year is the disclosed annual fee, which ranks near the 78th percentile of the fees filed across this corpus.

For scale, $25 is approximately what $139 of revolving balance would cost in interest over twelve months at this card's 18% rate.

For cash advances the filing discloses a cash advance fee of 1% and a cash advance APR of 18%.

A balance transfer costs 1% of the amount transferred up front. The filing does not separately state the rate applied to transferred balances. Shifting $3,000 across attracts something like $30 in fees on day one.

The filing sets a 1% foreign transaction fee, which adds roughly $10 to $1,000 spent outside the United States.

How it sits in the issuer's own range

6 separate Members 1st Federal Credit Union filings appear in the corpus.

What the filing does not tell you

Absent from the captured terms: a grace period and penalty pricing. The original document is the place to look for any of these.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

Where the authority sits

The original filing, 3 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

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. Note that the $25 annual fee falls due whether the card is used or not.