SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported) January 17, 2001
Universal Bank, N.A.
(Originator of the Universal Card Master Trust)
Universal Card Master Trust
(Issuer of the Asset Backed Certificates)
(Exact name of registrant as specified in its charter)
United States of America 33-93806 58-1885168
(State or Other (Commission File (IRS Employer
Jurisdiction of Number) Identification
Incorporation) Number)
200 Brookstone Centre, Suite 110
Columbus, GA 31904 31904
(Address of Principal Executive Office) (Zip Code)
Registrant s telephone number, including area code (706) 562-2200
N/A
(Former Name or Former Address, if Changed Since Last Report)
1
<PAGE>
INFORMATION TO BE INCLUDED IN THE REPORT
Items 1-4. Not Applicable
Item 5. The Certificateholder Statements for the month ending
December 31, 2000 for the Universal Card Master Trust Series
1995-3, Series 1996-1, Series 1996-3, and Series 1997-1
Certificates were distributed on January 17, 2001.
Item 6. Not Applicable.
Item 7. Exhibits.
The following are filed as Exhibits to this Report under Exhibits
20.1, 20.2, 20.3, and 20.4.
Exhibit 20.1 Monthly Servicing Report dated
January 17, 2001 with respect to the
Universal Card Master Trust
Series 1995-3.
Exhibit 20.2 Monthly Servicing Report dated
January 17, 2001 with respect to the
Universal Card Master Trust
Series 1996-1.
Exhibit 20.3 Monthly Servicing Report dated
January 17, 2001 with respect to the
Universal Card Master Trust
Series 1996-3.
Exhibit 20.4 Monthly Servicing Report dated
January 17, 2001 with respect
to the Universal Card Master Trust
Series 1997-1.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
UNIVERSAL BANK, N.A.
By: /s/ Meridith Jarrell
Name: Meridith Jarrell
Title: President & Chief
Operating Officer
2
<PAGE>
EXHIBIT INDEX
Exhibit Description Page
20.1 Monthly Servicing Report dated
January 17, 2001 with respect to the
Universal Card Master Trust
Series 1995-3.
20.2 Monthly Servicing Report dated
January 17, 2001 with respect to the
Universal Card Master Trust
Series 1996-1.
20.3 Monthly Servicing Report dated
January 17, 2001 with respect to the
Universal Card Master Trust
Series 1996-3.
20.4 Monthly Servicing Report dated
January 17, 2001 with
respect to the Universal Card Master Trust
Series 1997-1.
3
<PAGE>
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust
For the Due Period Ending December 31, 2000
==============================================================================
This Certificate relates to the Due Period ending December 31, 2000 and the
related Distribution Date.
A. Information Regarding the Total Trust
-------------------------------------
1. Trust Portfolio Yield .................................. 14.03%
Total Yield Component ............................. 18.22%
Net Credit Loss Component ......................... 4.19%
Recoveries ......................................... 0.39%
2. Principal Purchase Rate ............................... 16.96%
3. Principal Payment Rate ............................... 13.14%
4. Aggregate Amount of Principal Receivables in the Trust :
Beginning of Due Period ............................ $ 13,344,037,750
Weighted Average (used for mid-month addition) ..... $ 0
Lump Sum Addition .................................. $ 0
End of Due Period .................................. $ 13,762,389,393
Transferor's Interest .............................. $ 4,512,389,393
Aggregate Invested Amount of all Series: ............ $ 9,250,000,000
5. Delinquencies (Aggregate outstanding balances in the Accounts that
were delinquent by the time periods listed below as of the close of
business of the month preceding the Distribution Date, as a percentage
of aggregate Receivables as of the last day of the Due Period) :
Current .......................................... $ 13,044,096,494
5-34 days delinquent ........................... $ 630,627,791
35-64 days delinquent ........................... $ 201,433,079
65-94 days delinquent ........................... $ 121,278,559
95-124 days delinquent ........................... $ 87,060,678
125-154 days delinquent ........................... $ 83,675,985
155-184 days delinquent ........................... $ 46,926,364
Current ........................................... 91.76%
5-34 days delinquent ........................... 4.44%
35-64 days delinquent ........................... 1.42%
65-94 days delinquent ........................... 0.85%
95-124 days delinquent ........................... 0.61%
125-154 days delinquent ........................... 0.59%
155-184 days delinquent ........................... 0.33%
35+ days delinquent ................................ 3.80%
Page 4
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust
For the Due Period Ending December 31, 2000
==============================================================================
B. Information Regarding Group 1
-----------------------------
(Percentage Basis)
1. Portfolio Yield 14.03%
2. Weighted Average Certificate Rate 6.86%
3. Weighted Average Investor Fee Rates 1.87%
C. Information Regarding Group 1
-----------------------------
(Dollars Basis)
1. Total Investor Collections $ 549,781,820
Principal Collections $ 492,832,894
Finance Charge Collections $ 56,948,926
2. Investor Default Amount $ 13,105,168
3. Investor Monthly Interest $ 21,438,394
4. Investor Monthly Fees $ 5,843,750
Page 5
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust, Series 1995-3
For the Due Period Ending December 31, 2000
==============================================================================
This Certificate relates to the Due Period ending December 31, 2000 and the
related Distribution Date.
C2. Information Regarding Series 1995-3
------------------------------------
1. Total Investor Collections $ 110,027,059
Principal Collections $ 98,566,579
Reallocated Finance Charge Collections $ 11,460,481
2. Investor Default Amount $ 2,621,034
3. Investor Monthly Interest $ 4,358,374
4. Investor Monthly Servicing Fee $ 1,168,750
5. Excess Finance Charge Collections $ 3,337,536
*Finance charges have been reallocated based on sharing mechanics within the
Group, this amount also includes investment proceeds due to Series.
C3. Information Regarding Trigger Level
------------------------------------
Current Month
1. Series Adjusted Portfolio Yield - current month 14.18%
2. Base Rate - current month 8.84%
Coupon Component 6.97%
Servicing Component 1.87%
3. Excess Spread Percentage - 3 month average 5.34%
3 Month Averages
4. Series Adjusted Portfolio Yield - 3 month average 14.27%
5. Base Rate - 3 month average 8.99%
Coupon Component 7.12%
Servicing Component 1.87%
6. Excess Spread Percentage - 3 month average 5.28%
Page 6
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust, Series 1995-3
For the Due Period Ending December 31, 2000
==============================================================================
This Certificate relates to the Due Period ending December 31, 2000 and the
related Distribution Date.
D. Information Regarding Series 1995-3
--------------------------------------
1a. Class A Invested Amount $ 652,500,000
1b. Class B Invested Amount $ 45,000,000
1c. CIA Invested Amount $ 52,500,000
2a. Class A Monthly Interest $ 3,784,843
2b. Class B Monthly Interest $ 265,149
2c. CIA Monthly Interest $ 308,383
3a. Balance in the Class A Interest Funding Account $ 11,606,851
3b. Balance in the Class B Interest Funding Account $ 813,122
3c. Balance in the CIA Interest Funding Account $ 308,383
4a. Class A Investor Charge-offs $ 0
4b. Class B Investor Charge-offs $ 0
4c. CIA Investor Charge-offs $ 0
5. Required Amount $ 0
6a. Class A Principal Deposit to PFA (2) $ 0
6b. Class B Principal Deposit to PFA (2) $ 0
6c. CIA Principal Deposit to PFA (2) $ 0
7a. Balance in Class A Principal Funding Account (2)$ 0
7b. Balance in Class B Principal Funding Account (2)$ 0
7c. Balance in CIA Principal Funding Account (2) $ 0
--------------------------------------------------------------------------
(2) Applicable during the Accumulation Period and any Early Amortization Period
Page 7
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust, Series 1995-3
For the Due Period Ending December 31, 2000
==============================================================================
This Certificate relates to the Due Period ending December 31, 2000 and the
related Distribution Date.
E. Information Regarding Charge-offs and Distributions to Certificateholders(3)
------------------------------------------------------------------------------
1a. The total amount of the distribution to Class A
Certificateholders On the Payment Date $ 11,606,851
1b. The total amount of the distribution to Class B
Certificateholders On the Payment Date $ 813,122
1c. The total amount of the distribution to Class C
Certificateholders On the Payment Date $ 308,383
2a. The amount of the distribution set forth in item 1(a) above
in respect to principal on the Class A Certificates $ 0
2b. The amount of the distribution set forth in item 1(b) above
in respect to principal on the Class B Certificates $ 0
2c. The amount of the distribution set forth in item 1(c) above
in respect to principal on the CIA $ 0
3a. The amount of the distribution set forth in item 1(a) above
in respect of interest on the Class A Certificates $ 11,606,851
3b. The amount of the distribution set forth in item 1(b) above
in respect of interest on the Class B Certificates $ 813,122
3c. The amount of the distribution set forth in item 1(c) above
in respect of interest on the CIA $ 308,383
4a. The amount, if any, by which the outstanding principal
balance of the Class A Certificates exceeds the Class A
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 0
4b. The amount, if any, by which the outstanding principal
balance of the Class B Certificates exceeds the Class B
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 0
4c. The amount, if any, by which the outstanding principal
balance of the CIA exceeds the CIA
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 0
----------------------------------------------------------
(3) The following information, as applicable, is included
only on Payment Date.
Page 8
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust, Series 1995-3
For the Due Period Ending December 31, 2000
==============================================================================
This Certificate relates to the Due Period ending December 31, 2000 and the
related Distribution Date.
The undersigned, a duly authorized representative of Universal Card Services
Corp.('UCS'), as a Servicer pursuant to the Pooling and Servicing Agreement
dated as of August 1, 1995 (as amended and supplemented, the 'Pooling And
Servicing Agreement'), among UCS, Universal Bank, N.A., as Transferor and
Bankers Trust Company, as Trustee (the 'Trustee'), does hereby certify
the information set forth below.
1. Capitalized terms used in the Certificate have their
respective meanings as set forth in the Agreement or Series
Supplement, as applicable.
2. Universal Card Services Corp. is, as of the date hereof, the
Servicer under the Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date
occurring on January 17, 2001
5. As of the date hereof, to the best knowledge of
the undersigned, the Servicer has performed in
all material respects all its obligations under
the Agreement through the Due Period preceeding
such Distribution Date.
6. As of the date hereof, to the best knowledge of the
undersigned, no Amortization Event has been deemed
to have occurred on or prior to such Distribution Date.
7. As of date hereof, to the best knowledge of the
undersigned, no Lien has been placed on any of the
Receivables other than pursuant to the Agreement.
IN WITNESS WHEREOF, the undersigned has duly
executed and delivered this Certificate this 17 day of
January 2001
By: /s/ Andrew Lubliner
__________________________________________
Name: Andrew Lubliner
Title: Servicing Officer
Page 9
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust, Series 1996-1
For the Due Period Ending December 31, 2000
==============================================================================
This Certificate relates to the Due Period ending December 31, 2000 and the
related Distribution Date.
C2. Information Regarding Series 1996-1
------------------------------------
1. Total Investor Collections $ 146,655,871
Principal Collections $ 131,422,105
Reallocated Finance Charge Collections $ 15,233,766
2. Investor Default Amount $ 3,494,711
3. Investor Monthly Interest $ 5,764,290
4. Investor Monthly Servicing Fee $ 1,558,333
5. Excess Finance Charge Collections $ 4,449,758
*Finance charges have been reallocated based on sharing mechanics within the
Group, this amount also includes investment proceeds due to Series.
C3. Information Regarding Trigger Level
------------------------------------
Current Month
1. Series Adjusted Portfolio Yield - current month 14.13%
2. Base Rate - current month 8.79%
Coupon Component 6.92%
Servicing Component 1.87%
3. Excess Spread Percentage - 3 month average 5.34%
3 Month Averages
4. Series Adjusted Portfolio Yield - 3 month average 14.21%
5. Base Rate - 3 month average 8.94%
Coupon Component 7.07%
Servicing Component 1.87%
6. Excess Spread Percentage - 3 month average 5.28%
Page 10
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust, Series 1996-1
For the Due Period Ending December 31, 2000
==============================================================================
This Certificate relates to the Due Period ending December 31, 2000 and the
related Distribution Date.
D. Information Regarding Series 1996-1
--------------------------------------
1a. Class A Invested Amount $ 850,000,000
1b. Class B Invested Amount $ 80,000,000
1c. CIA Invested Amount $ 70,000,000
2a. Class A Monthly Interest $ 4,884,405
2b. Class B Monthly Interest $ 468,709
2c. CIA Monthly Interest $ 411,177
3a. Balance in the Class A Interest Funding Account $ 14,978,841
3b. Balance in the Class B Interest Funding Account $ 1,437,373
3c. Balance in the CIA Interest Funding Account $ 411,177
4a. Class A Investor Charge-offs $ 0
4b. Class B Investor Charge-offs $ 0
4c. CIA Investor Charge-offs $ 0
5. Required Amount $ 0
6a. Class A Principal Deposit to PFA (2) $ 0
6b. Class B Principal Deposit to PFA (2) $ 0
6c. CIA Principal Deposit to PFA (2) $ 0
7a. Balance in Class A Principal Funding Account (2)$ 0
7b. Balance in Class B Principal Funding Account (2)$ 0
7c. Balance in CIA Principal Funding Account (2) $ 0
--------------------------------------------------------------------------
(2) Applicable during the Accumulation Period and any Early Amortization Period
Page 11
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust, Series 1996-1
For the Due Period Ending December 31, 2000
==============================================================================
This Certificate relates to the Due Period ending December 31, 2000 and the
related Distribution Date.
E. Information Regarding Charge-offs and Distributions to Certificateholders(3)
------------------------------------------------------------------------------
1a. The total amount of the distribution to Class A
Certificateholders On the Payment Date $ 14,978,841
1b. The total amount of the distribution to Class B
Certificateholders On the Payment Date $ 1,437,373
1c. The total amount of the distribution to Class C
Certificateholders On the Payment Date $ 411,177
2a. The amount of the distribution set forth in item 1(a) above
in respect to principal on the Class A Certificates $ 0
2b. The amount of the distribution set forth in item 1(b) above
in respect to principal on the Class B Certificates $ 0
2c. The amount of the distribution set forth in item 1(c) above
in respect to principal on the CIA $ 0
3a. The amount of the distribution set forth in item 1(a) above
in respect of interest on the Class A Certificates $ 14,978,841
3b. The amount of the distribution set forth in item 1(b) above
in respect of interest on the Class B Certificates $ 1,437,373
3c. The amount of the distribution set forth in item 1(c) above
in respect of interest on the CIA $ 411,177
4a. The amount, if any, by which the outstanding principal
balance of the Class A Certificates exceeds the Class A
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 0
4b. The amount, if any, by which the outstanding principal
balance of the Class B Certificates exceeds the Class B
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 0
4c. The amount, if any, by which the outstanding principal
balance of the CIA exceeds the CIA
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 0
----------------------------------------------------------
(3) The following information, as applicable, is included
only on Payment Date.
Page 12
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust, Series 1996-1
For the Due Period Ending December 31, 2000
==============================================================================
This Certificate relates to the Due Period ending December 31, 2000 and the
related Distribution Date.
The undersigned, a duly authorized representative of Universal Card Services
Corp.('UCS'), as a Servicer pursuant to the Pooling and Servicing Agreement
dated as of August 1, 1995 (as amended and supplemented, the 'Pooling And
Servicing Agreement'), among UCS, Universal Bank, N.A., as Transferor and
Bankers Trust Company, as Trustee (the 'Trustee'), does hereby certify
the information set forth below.
1. Capitalized terms used in the Certificate have their
respective meanings as set forth in the Agreement or Series
Supplement, as applicable.
2. Universal Card Services Corp. is, as of the date hereof, the
Servicer under the Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date
occurring on January 17, 2001
5. As of the date hereof, to the best knowledge of
the undersigned, the Servicer has performed in
all material respects all its obligations under
the Agreement through the Due Period preceeding
such Distribution Date.
6. As of the date hereof, to the best knowledge of the
undersigned, no Amortization Event has been deemed
to have occurred on or prior to such Distribution Date.
7. As of date hereof, to the best knowledge of the
undersigned, no Lien has been placed on any of the
Receivables other than pursuant to the Agreement.
IN WITNESS WHEREOF, the undersigned has duly
executed and delivered this Certificate this 17 day of
January 2001
By: /s/ Andrew Lubliner
__________________________________________
Name: Andrew Lubliner
Title: Servicing Officer
Page 13
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust, Series 1996-3
For the Due Period Ending December 31, 2000
==============================================================================
This Certificate relates to the Due Period ending December 31, 2000 and the
related Distribution Date.
C2. Information Regarding Series 1996-3
------------------------------------
1. Total Investor Collections $ 146,470,820
Principal Collections $ 131,422,105
Reallocated Finance Charge Collections $ 15,048,715
2. Investor Default Amount $ 3,494,711
3. Investor Monthly Interest $ 5,579,240
4. Investor Monthly Servicing Fee $ 1,558,333
5. Excess Finance Charge Collections $ 4,476,841
*Finance charges have been reallocated based on sharing mechanics within the
Group, this amount also includes investment proceeds due to Series.
C3. Information Regarding Trigger Level
------------------------------------
Current Month
1. Series Adjusted Portfolio Yield - current month 13.94%
2. Base Rate - current month 8.57%
Coupon Component 6.70%
Servicing Component 1.87%
3. Excess Spread Percentage - 3 month average 5.37%
3 Month Averages
4. Series Adjusted Portfolio Yield - 3 month average 14.06%
5. Base Rate - 3 month average 8.78%
Coupon Component 6.91%
Servicing Component 1.87%
6. Excess Spread Percentage - 3 month average 5.28%
Page 14
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust, Series 1996-3
For the Due Period Ending December 31, 2000
==============================================================================
This Certificate relates to the Due Period ending December 31, 2000 and the
related Distribution Date.
D. Information Regarding Series 1996-3
--------------------------------------
1a. Class A Invested Amount $ 850,000,000
1b. Class B Invested Amount $ 80,000,000
1c. CIA Invested Amount $ 70,000,000
2a. Class A Monthly Interest $ 4,708,646
2b. Class B Monthly Interest $ 456,500
2c. CIA Monthly Interest $ 414,094
3a. Balance in the Class A Interest Funding Account $ 4,708,646
3b. Balance in the Class B Interest Funding Account $ 456,500
3c. Balance in the CIA Interest Funding Account $ 414,094
4a. Class A Investor Charge-offs $ 0
4b. Class B Investor Charge-offs $ 0
4c. CIA Investor Charge-offs $ 0
5. Required Amount $ 0
6a. Class A Principal Deposit to PFA (2) $ 0
6b. Class B Principal Deposit to PFA (2) $ 0
6c. CIA Principal Deposit to PFA (2) $ 0
7a. Balance in Class A Principal Funding Account (2)$ 0
7b. Balance in Class B Principal Funding Account (2)$ 0
7c. Balance in CIA Principal Funding Account (2) $ 0
--------------------------------------------------------------------------
(2) Applicable during the Accumulation Period and any Early Amortization Period
Page 15
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust, Series 1996-3
For the Due Period Ending December 31, 2000
==============================================================================
This Certificate relates to the Due Period ending December 31, 2000 and the
related Distribution Date.
E. Information Regarding Charge-offs and Distributions to Certificateholders(3)
------------------------------------------------------------------------------
1a. The total amount of the distribution to Class A
Certificateholders On the Payment Date $ 0
1b. The total amount of the distribution to Class B
Certificateholders On the Payment Date $ 0
1c. The total amount of the distribution to Class C
Certificateholders On the Payment Date $ 414,094
2a. The amount of the distribution set forth in item 1(a) above
in respect to principal on the Class A Certificates $ 0
2b. The amount of the distribution set forth in item 1(b) above
in respect to principal on the Class B Certificates $ 0
2c. The amount of the distribution set forth in item 1(c) above
in respect to principal on the CIA $ 0
3a. The amount of the distribution set forth in item 1(a) above
in respect of interest on the Class A Certificates $ 0
3b. The amount of the distribution set forth in item 1(b) above
in respect of interest on the Class B Certificates $ 0
3c. The amount of the distribution set forth in item 1(c) above
in respect of interest on the CIA $ 414,094
4a. The amount, if any, by which the outstanding principal
balance of the Class A Certificates exceeds the Class A
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 0
4b. The amount, if any, by which the outstanding principal
balance of the Class B Certificates exceeds the Class B
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 0
4c. The amount, if any, by which the outstanding principal
balance of the CIA exceeds the CIA
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 0
----------------------------------------------------------
(3) The following information, as applicable, is included
only on Payment Date.
Page 16
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust, Series 1996-3
For the Due Period Ending December 31, 2000
==============================================================================
This Certificate relates to the Due Period ending December 31, 2000 and the
related Distribution Date.
The undersigned, a duly authorized representative of Universal Card Services
Corp.('UCS'), as a Servicer pursuant to the Pooling and Servicing Agreement
dated as of August 1, 1995 (as amended and supplemented, the 'Pooling And
Servicing Agreement'), among UCS, Universal Bank, N.A., as Transferor and
Bankers Trust Company, as Trustee (the 'Trustee'), does hereby certify
the information set forth below.
1. Capitalized terms used in the Certificate have their
respective meanings as set forth in the Agreement or Series
Supplement, as applicable.
2. Universal Card Services Corp. is, as of the date hereof, the
Servicer under the Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date
occurring on January 17, 2001
5. As of the date hereof, to the best knowledge of
the undersigned, the Servicer has performed in
all material respects all its obligations under
the Agreement through the Due Period preceeding
such Distribution Date.
6. As of the date hereof, to the best knowledge of the
undersigned, no Amortization Event has been deemed
to have occurred on or prior to such Distribution Date.
7. As of date hereof, to the best knowledge of the
undersigned, no Lien has been placed on any of the
Receivables other than pursuant to the Agreement.
IN WITNESS WHEREOF, the undersigned has duly
executed and delivered this Certificate this 17 day of
January 2001
By: /s/ Andrew Lubliner
__________________________________________
Name: Andrew Lubliner
Title: Servicing Officer
Page 17
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust, Series 1997-1
For the Due Period Ending December 31, 2000
==============================================================================
This Certificate relates to the Due Period ending December 31, 2000 and the
related Distribution Date.
C2. Information Regarding Series 1997-1
------------------------------------
1. Total Investor Collections $ 146,628,070
Principal Collections $ 131,422,105
Reallocated Finance Charge Collections $ 15,205,965
2. Investor Default Amount $ 3,494,711
3. Investor Monthly Interest $ 5,736,490
4. Investor Monthly Servicing Fee $ 1,558,333
5. Excess Finance Charge Collections $ 4,419,566
*Finance charges have been reallocated based on sharing mechanics within the
Group, this amount also includes investment proceeds due to Series.
C3. Information Regarding Trigger Level
------------------------------------
Current Month
1. Series Adjusted Portfolio Yield - current month 14.06%
2. Base Rate - current month 8.75%
Coupon Component 6.88%
Servicing Component 1.87%
3. Excess Spread Percentage - 3 month average 5.31%
3 Month Averages
4. Series Adjusted Portfolio Yield - 3 month average 14.16%
5. Base Rate - 3 month average 8.88%
Coupon Component 7.01%
Servicing Component 1.87%
6. Excess Spread Percentage - 3 month average 5.28%
Page 18
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust, Series 1997-1
For the Due Period Ending December 31, 2000
==============================================================================
This Certificate relates to the Due Period ending December 31, 2000 and the
related Distribution Date.
D. Information Regarding Series 1997-1
--------------------------------------
1a. Class A Invested Amount $ 850,000,000
1b. Class B Invested Amount $ 80,000,000
1c. CIA Invested Amount $ 70,000,000
2a. Class A Monthly Interest $ 4,850,313
2b. Class B Monthly Interest $ 469,167
2c. CIA Monthly Interest $ 417,010
3a. Balance in the Class A Interest Funding Account $ 9,862,302
3b. Balance in the Class B Interest Funding Account $ 953,972
3c. Balance in the CIA Interest Funding Account $ 417,010
4a. Class A Investor Charge-offs $ 0
4b. Class B Investor Charge-offs $ 0
4c. CIA Investor Charge-offs $ 0
5. Required Amount $ 0
6a. Class A Principal Deposit to PFA (2) $ 0
6b. Class B Principal Deposit to PFA (2) $ 0
6c. CIA Principal Deposit to PFA (2) $ 0
7a. Balance in Class A Principal Funding Account (2)$ 0
7b. Balance in Class B Principal Funding Account (2)$ 0
7c. Balance in CIA Principal Funding Account (2) $ 0
--------------------------------------------------------------------------
(2) Applicable during the Accumulation Period and any Early Amortization Period
Page 19
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust, Series 1997-1
For the Due Period Ending December 31, 2000
==============================================================================
This Certificate relates to the Due Period ending December 31, 2000 and the
related Distribution Date.
E. Information Regarding Charge-offs and Distributions to Certificateholders(3)
------------------------------------------------------------------------------
1a. The total amount of the distribution to Class A
Certificateholders On the Payment Date $ 0
1b. The total amount of the distribution to Class B
Certificateholders On the Payment Date $ 0
1c. The total amount of the distribution to Class C
Certificateholders On the Payment Date $ 417,010
2a. The amount of the distribution set forth in item 1(a) above
in respect to principal on the Class A Certificates $ 0
2b. The amount of the distribution set forth in item 1(b) above
in respect to principal on the Class B Certificates $ 0
2c. The amount of the distribution set forth in item 1(c) above
in respect to principal on the CIA $ 0
3a. The amount of the distribution set forth in item 1(a) above
in respect of interest on the Class A Certificates $ 0
3b. The amount of the distribution set forth in item 1(b) above
in respect of interest on the Class B Certificates $ 0
3c. The amount of the distribution set forth in item 1(c) above
in respect of interest on the CIA $ 417,010
4a. The amount, if any, by which the outstanding principal
balance of the Class A Certificates exceeds the Class A
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 0
4b. The amount, if any, by which the outstanding principal
balance of the Class B Certificates exceeds the Class B
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 0
4c. The amount, if any, by which the outstanding principal
balance of the CIA exceeds the CIA
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 0
----------------------------------------------------------
(3) The following information, as applicable, is included
only on Payment Date.
Page 20
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
==============================================================================
Universal Card Master Trust, Series 1997-1
For the Due Period Ending December 31, 2000
==============================================================================
This Certificate relates to the Due Period ending December 31, 2000 and the
related Distribution Date.
The undersigned, a duly authorized representative of Universal Card Services
Corp.('UCS'), as a Servicer pursuant to the Pooling and Servicing Agreement
dated as of August 1, 1995 (as amended and supplemented, the 'Pooling And
Servicing Agreement'), among UCS, Universal Bank, N.A., as Transferor and
Bankers Trust Company, as Trustee (the 'Trustee'), does hereby certify
the information set forth below.
1. Capitalized terms used in the Certificate have their
respective meanings as set forth in the Agreement or Series
Supplement, as applicable.
2. Universal Card Services Corp. is, as of the date hereof, the
Servicer under the Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date
occurring on January 17, 2001
5. As of the date hereof, to the best knowledge of
the undersigned, the Servicer has performed in
all material respects all its obligations under
the Agreement through the Due Period preceeding
such Distribution Date.
6. As of the date hereof, to the best knowledge of the
undersigned, no Amortization Event has been deemed
to have occurred on or prior to such Distribution Date.
7. As of date hereof, to the best knowledge of the
undersigned, no Lien has been placed on any of the
Receivables other than pursuant to the Agreement.
IN WITNESS WHEREOF, the undersigned has duly
executed and delivered this Certificate this 17 day of
January 2001
By: /s/ Andrew Lubliner
__________________________________________
Name: Andrew Lubliner
Title: Servicing Officer
Page 21
