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PRIVACY POLICY
St. Cloud Federal Credit Union is committed to making available financial products and services that will enable members to meet their financial needs and reach their financial goals. We understand that our members furnish sensitive information to the credit union in the course of daily business, and the credit union is committed to treating such information responsibly. We know that our members expect privacy and security for their personal and financial affairs.
St. Cloud Federal Credit Union will take all the necessary steps to safeguard information that has been entrusted to us by our members. Protecting personal information and using it in a manner consistent with member expectations is a high priority for everyone associated with the credit union.
This policy outlines practices regarding personally identifiable financial information for members and others with which we establish a "member relationship" pursuant to CFT 716 of NCUA's Rules and Regulations. To ensure that our members can rely upon the quality of products and services we make available, St. Cloud Federal Credit Union stands behind this privacy policy.
Types of Information the Credit Union Collects
We collect non-public personal information directly from members, joint owners, co-borrowers, and guarantors on various applications and forms, for example, membership applications, loan applications, and requests for information about accounts or products and services. Non-public information does not include information the credit union obtains from government records, widely distributed media, or government-mandated disclosures.
We collect information as a result of transactions between the credit union and individuals and as a result of providing our products and services. This includes transaction information from checks, debit cards, credit cards, automated teller machine (ATM) cards, on-line banking, voice response, and wires or automated clearinghouse (ACH) transactions.
We gather and analyze data regarding usage of our website by means of "cookies". These cookies do not collect personally identifiable information, and we do not combine information collected through cookies to determine a person's identity or e-mail address. We use cookies to determine if anyone has previously visited our website as a way of measuring the usefulness of our sight.
We collect information from a consumer reporting agency.
Types of Information the Credit Union Discloses
By law we may disclose certain personally identifiable information without allowing the member the right to opt out of the credit union's data sharing agreements in the following circumstances:
To companies that process transactions for the credit union
To enforce the credit union's legal or contractual rights or the rights of any other person who is engaged in a financial transaction
To a consumer reporting agency under the Fair Credit Reporting Act
To comply with federal, state, or local laws, rules, and other applicable legal requirements
As required in the ordinary course of business, such as the settlement of claims or benefits, and the billing, processing, or clearing of items
To insurance organizations, agencies that are rating the credit union, persons that are assessing the credit union's compliance with industry standards, and the credit union's attorneys and auditors
As permitted by law, to credit union service providers with whom we have joint marketing agreements, to other affiliates to help us administer our business or provide product information, and to other third parties, but only to administer products and services, to conduct our business, or when legally required. Examples of third party vendors include check printing companies, credit bureau agencies, credit and debit card administrators, etc.
Safeguarding Member Information
St. Cloud Federal Credit Union will partner only with businesses that follow strict confidentiality requirements. Any third party vendor that we partner with will be required to supply the credit union with a privacy statement that assures the credit union that they will not share our members' information with anyone else. Under no circumstances will we partner with any third party vendor who cannot meet these confidentiality requirements, nor will we ever sell member information.
St. Cloud Federal Credit Union will protect members' personal information. We will maintain strong security controls to ensure that member information in our files and computers is protected. Where appropriate, we will use security-coding techniques to protect against unauthorized access to personal records, ensure accuracy and integrity of communications and transactions, and protect member confidentiality.
We protect member privacy by ensuring that only employees who have a business reason for knowing information have access to it. The credit union's management team is responsible for maintaining internal procedures to ensure that our members' information is protected.
Members will always have access to their information. Members will always have the opportunity to review their information and make necessary changes to ensure that our records are complete and accurate.
All employees have a copy of this policy and are trained at least annually on the safeguarding of member information. The management team and appropriate department managers will take disciplinary action against any employee who violates the credit union's privacy policy and procedures.
Adopted 3/26/2001; updated 11/2007
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