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Privacy Policy |
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Cryovac Federal Credit Union Privacy Policy The following privacy principles were established to maintain the security, integrity and confidentiality of your personal financial information. The type of information we collect: This information helps us: To satisfy certain regulatory requirements. Example: When you open an account that pays interest, we are required by the Internal Revenue Service to obtain your social security number. To better understand you so that we may provide you with additional or improved products and services. Example: We require information concerning your credit history and your assets to determine if you qualify for loan approval. We do not share and never have shared the non-public personal information of our current or previous members with affiliates or non-affiliated third parties except as permitted or required by law. How is that information protected? In order to prevent unauthorized access to your information, we maintain security standards and procedures that conform to industry practices. These security standards and procedures are routinely tested to verify the integrity of our systems. Our website contains links to other sites. CFCU is not responsible for the privacy practices or the content of such Web sites. CORRECT/UPDATE CONTACTING THE WEBSITE Cryovac Federal Credit Union Attn: Bernice Huskey U.S. Patriot Act This notice is to inform you of the passage and soon to be enacted legislation called the U.S. Patriot Act and how it will affect you. What is the U.S. Patriot Act? The U.S. Patriot Act was enacted in response to the terrorist acts of September 11th, 2001. The intent is for banks, credit unions and other financial institutions to verify the identity of all people who do business with them. It has become clear that terrorist groups have used our banking industry to funnel money to commit crimes. How does this affect you? The Act was passed in an effort to improve public safety and should not directly affect most people. We will, of course, ask to verify your identification occasionally (once the Act takes affect and periodically thereafter). This is a good safety precaution for you as a member anyway due to increases in identify theft over the past several years. I’ve been a member for years, why are you checking my identification? We understand your feeling that it seems silly to check the I.D. of someone we have known for years. However, to guarantee that nobody “slips through the cracks” the law was written so that all customers and members identities are verified. This will not have to be done each and every time you come into our office but it will have to be done periodically. Please bear with us and we hope you’ll understand the need for us to comply with the U.S. Patriot Act. The intent of the law is to help guarantee a more secure country and to make certain the banking system is not inadvertently aiding people or groups who wish us harm. What does the credit union do with our identification? We are required to keep proof at the credit union that we have verified your identification. We are just supposed to keep a record that we are complying with the Act. Our member base is periodically checked against a list of known or suspected terrorists. This act should have little or no affect on law-abiding citizens. |
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