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Previous: FIRST UNION MASTER CREDIT CARD TRUST, 8-K, 2000-10-18 |
Next: FIRST UNION MASTER CREDIT CARD TRUST, 8-K, EX-20.2, 2000-10-18 |
<PAGE> 1
EXHIBIT 20.1
FORM OF MONTHLY SERIES 1996-1 CERTIFICATEHOLDERS' STATEMENT
Series 1996-1
FIRST UNION DIRECT BANK, N.A.
FIRST UNION MASTER CREDIT CARD TRUST
The information which is required to be prepared with respect to the
Distribution Date OCTOBER 16, 2000 and with respect to the performance of the
Trust during the related Monthly Period.
Capitalized terms used in this Statement have their respective meanings
set forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C> <C>
A Information Regarding the Currrent Monthly Distribution
(Stated on the basis of $1,000 Original Certificate Principal Amount)
1 The amount of the current monthly distribution in
respect of Class A Monthly Principal 0
------------------------
2 The amount of the current monthly distribution in
respect of Class B Monthly Principal 0
------------------------
3 The amount of the current monthly distribution in
respect of Collateral Monthly Principal 13,878,041
------------------------
4 The amount of the current monthly distribution in
respect of CLASS A MONTHLY INTEREST 5,380,179
------------------------
5 The amount of the current monthly distribution in
respect of Class A Deficiency Amounts 0
------------------------
6 The amount of the current monthly distribution in
respect of Class A Additional Interest 0
------------------------
7 The amount of the current monthly distribution in
respect of CLASS B MONTHLY INTEREST 447,976
------------------------
8 The amount of the current monthly distribution in
respect of Class B Deficiency Amounts 0
------------------------
9 The amount of the current monthly distribution in
respect of Class B Additional Interest 0
------------------------
10 The amount of the current monthly distribution in
respect of COLLATERAL MONTHLY INTEREST 489,109
------------------------
11 The amount of the current monthly distribution in
respect of any accrued and unpaid Collateral monthly interest 0
------------------------
</TABLE>
<PAGE> 2
<TABLE>
<S> <C> <C>
B Information Regarding the Performance of the Trust
1 COLLECTION OF PRINCIPAL RECEIVABLES
a) The aggregate amount of Principal Collections
processed during the related Monthly
Period which were allocated in respect of the
Class A Certificates 79,492,070
------------------------
b) The aggregate amount of Principal Collections
processed during the related Monthly
Period which were allocated in respect of the
Class B Certificates 6,503,920
------------------------
c) The aggregate amount of Principal Collections
processed during the related Monthly Period
which were allocated in respect of the
Collateral Interest 10,358,060
------------------------
2 PRINCIPAL RECEIVABLES IN THE TRUST
a) The aggregate amount of Principal
Receivables in the Trust as of the end of the
day on the last day of the related Monthly
Period (ending Principal Balance) 1,906,191,734
------------------------
b) The amount of Principal Receivables in the
Trust represented by the Series 1996-1
Adjusted Investor Interest as of the end of
the day on the last day of the related
Monthly Period (09/30/00) 729,475,649
------------------------
c) The amount of Principal Receivables in the
Trust represented by the Class A Adjusted
Investor Interest as of the end of the day
on the last day of the related Monthly
Period (09/30/00) 574,293,782
------------------------
d) The amount of Principal Receivables in the
Trust represented by the Class B Investor
Interest as of the end of the day on the
last day of the related Monthly Period (09/30/00) 75,273,000
------------------------
e) The amount of Principal Receivables in
the Trust represented by the Collateral
Adjusted Interest as of the end of the day on the last
day of the related Monthly Period (09/30/00) 79,908,867
------------------------
f) The Floating Investor Percentage with
respect to the related Monthly Period 38.17%
------------------------
g) The Class A Floating Allocation with respect
to the related Monthly Period 30.05%
------------------------
h) The Class B Floating Allocation with respect
to the related Monthly Period 3.94%
------------------------
</TABLE>
<PAGE> 3
<TABLE>
<S> <C> <C>
i) The Collateral Floating Allocation with respect
to the related Monthly Period 4.18%
------------------------
j) The Fixed Investor Percentage with respect to
the related Monthly Period 58.35%
------------------------
k) The Class A Fixed Allocation with respect to
the related Monthly Period 48.14%
------------------------
l) The Class B Fixed Allocation with respect to
the related Monthly Period 3.94%
------------------------
m) The Collateral Fixed Allocation with respect
to the related Monthly Period 6.27%
------------------------
3 DELINQUENT BALANCES
The aggregate amount of outstanding balances in the Accounts
which were delinquent as of the end of the day on the last day
of the related Monthly Period:
Aggregate Percentage of
Account Total
Balance Receivables
a) 35 - 64 days 27,621,356 1.39%
-------------------- ------------------------
b) 65-94 days 14,023,649 0.71%
-------------------- ------------------------
c) 95-124 days 9,062,381 0.46%
-------------------- ------------------------
d) 125-154 days 7,473,284 0.38%
-------------------- ------------------------
e) 155 or more days 6,647,422 0.33%
-------------------- ------------------------
Total 64,828,091 3.27%
-------------------- ------------------------
4 CREDIT LOSS AMOUNT (ALLOCABLE TO SERIES 1996-1)
a) The Aggregate Credit Loss Amount for
the related Monthly Period 2,761,845
------------------------
b) The Class A Credit Loss Amount for
the related Monthly Period 2,278,522
------------------------
c) The Class B Credit Loss Amount for
the related Monthly Period 186,425
------------------------
d) The Collateral Credit Loss Amount for
the related Monthly Period 296,898
------------------------
5 INVESTOR CHARGE OFFS
a) The aggregate amount of Class A Investor
Charge Offs for the related Monthly Period 0
------------------------
b) The aggregate amount of Class A Investor
Charge Offs set forth in 5(a) above per $1,000
of original certificate principal amount 0
------------------------
</TABLE>
<PAGE> 4
<TABLE>
<S> <C> <C>
c) The aggregate amount of Class B Investor
Charge Offs for the related Monthly Period 0
------------------------
d) The aggregate amount of Class B Investor
Charge Offs set forth in 5(c above per $1,000
of original certificate principal amount 0
------------------------
e) The aggregate amount of Collateral Charge
Offs for the related Monthly Period 0
------------------------
f) The aggregate amount of Collateral Charge
Offs set forth in 5(e) above per $1,000 of
original certificate principal amount 0
------------------------
g) The aggregate amount of Class A Investor
Charge Offs reimbursed on the Transfer Date
immediately preceding this Distribution Date 0
------------------------
h) The aggregate amount of Class A Investor
Charge Offs set forth in 5(g) above per
$1,000 original certificate principal amount
reimbursed on the Transfer Date immediately
preceding this Distribution Date 0
------------------------
i) The aggregate amount of Class B Investor
Charge Offs reimbursed on the Transfer Date
immediately preceding this Distribution Date 0
------------------------
j) The aggregate amount of Class B Investor
Charge Offs set forth in 5(i) above per $1,000
original certificate principal amount reimbursed
on the Transfer Date immediately preceding
this Distribution Date 0
------------------------
k) The aggregate amount of Collateral Charge
Offs reimbursed on the Transfer Date
immediately preceding this Distribution Date 0
------------------------
l) The aggregate amount of Collateral Charge
Offs set forth in 5(k) above per $1,000
original certificate principal amount reimbursed
on the Transfer Date immediately preceding
this Distribution Date 0
------------------------
6 INVESTOR SERVICING FEE - 1.25% (ALLOCABLE TO SERIES 1996-1)
a) The amount of the Class A Servicing Fee
payable by the Trust to the Servicer for
the related Monthly Period 598,223
------------------------
b) The amount of the Class B Servicing Fee
payable by the Trust to the Servicer for
the related Monthly Period 78,409
------------------------
c) The amount of the Collateral Servicing Fee
payable by the Trust to the Servicer for
the related Monthly Period 83,238
------------------------
</TABLE>
<PAGE> 5
<TABLE>
<S> <C> <C>
d) The amount of Servicer Interchange (.75%)
payable by the Trust to the Servicer for the
related Monthly Period 455,922
------------------------
7 REALLOCATIONS
a) The amount of Reallocated Collateral Principal
collections with respect to this Distribution Date 0
------------------------
b) The amount of Reallocated Class B Principal
collections with respect to this Distribution Date 0
------------------------
c) The COLLATERAL BALANCE as of the close of
business on this Distribution Date (10/16/00) 66,030,826
------------------------
d) The CLASS B INVESTOR BALANCE as of the close
of business on this Distribution Date 75,273,000
------------------------
8 FINANCE CHARGE COLLECTIONS (MINUS SERVICER INTERCHANGE)
ALLOCABLE TO SERIES 1996-1
a) The aggregate amount of Collections of Finance
Charge Receivables processed during the
related Monthly Period which were allocated
in respect of the Class A Certificates 12,341,959
------------------------
b) The aggregate amount of Collections of Finance
Charge Receivables processed during the
related Monthly Period which were allocated
in respect of the Class B Certificates 1,349,443
------------------------
c) The aggregate amount of Collections of Finance
Charge Receivables processed during the
related Monthly Period which were allocated
in respect of the Collateral Interest 1,432,552
------------------------
9 PRINCIPAL FUNDING ACCOUNT
a) The principal amount on deposit in the Principal
Funding Account on or before the related Transfer Date
(OCTOBER 13, 2000): 460,941,624
------------------------
b) The Accumulation Shortfall with respect to the
related Monthly Period 0
------------------------
c) The Principal Funding Investment Proceeds
deposited in the Finance Charge Account on or
before the Transfer Date of the related
Monthly Period 1,918,721
------------------------
d) The amount of all or the portion of the Reserve
Draw Amount deposited in the Finance Charge
Account on or before the Transfer date of the
related Monthly Period from the Reserve Account 102,976
------------------------
10 RESERVE DRAW AMOUNT 102,976
------------------------
</TABLE>
<PAGE> 6
<TABLE>
<S> <C> <C>
11 AVAILABLE FUNDS [FINANCE CHARGE COLLECTIONS MINUS
SERVICER INTERCHANGE]
a) The amount of Class A Available Funds on deposit
in the Finance Charge Account on or before the
related Transfer Date 14,388,369
------------------------
b) The amount of Class B Available Funds on deposit
in the Finance Charge Account on the related
Transfer Date 1,349,443
------------------------
c) The amount of Collateral Available Funds on
deposit in the Finance Charge Account on the
related Transfer Date 1,432,552
------------------------
12 PORTFOLIO YIELD (YIELD MINUS CHARGE OFFS)
a) The Portfolio Yield for the related Monthly Period 21.09%
------------------------
b) The Portfolio Adjusted Yield for the related Monthly
Period 11.08%
------------------------
C FLOATING RATE DETERMINATIONS
1 LIBOR for the Interest Period ending on this
Distribution Date 6.62125%
------------------------
2 Number of days in this interest period 31
------------------------
3 Interest Factor 0.0744771%
------------------------
D CUSIP Numbers
1 Class A 337365AA8
------------------------
2 Class B 337365AB6
------------------------
</TABLE>
FIRST UNION DIRECT BANK, N.A.
SERVICER
By: /s/ JAMES H. GILBRAITH, II
--------------------------------------
James H. Gilbraith, II
Managing Director
First Union Direct Bank, N.A.
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