We are committed to providing you with competitive products and services to meet your financial needs, which necessitates that we share information about you to complete your transactions and to provide you with certain financial opportunities.
To achieve this, we have entered into agreements with other companies that provide either services to us or additional financial products or services for you to consider. Under these arrangements, we disclose all of the information we collect, as described below, to companies that perform services on our behalf or to other financial institutions with whom we have joint marketing agreements. To protect your privacy, we only work with companies that agree to maintain strong confidentiality protections and limit the use of information we provide. We do not permit these companies to sell or share the information with other parties.
Information We Collect and Disclose About You
We collect the following non public personal information about you from a variety of sources and may disclose all the information we collect to companies that perform services on our behalf , to other financial companies, such as insurance companies, mortgage service companies, and securities broker-dealers with whom we have joint marketing agreements, or to our affiliates:
- From membership and loan applications and other forms, we obtain information such as name, address, Social Security number and employment.
- From your transactions with us or other companies that work closely with us to provide financial services, we obtain information such as your account balances, payment history, parties to transactions, and credit card usage.
- From consumer reporting agencies we obtain information such as your credit worthiness and credit history.
- From verification of information you provide on applications and other forms, we obtain information from current or past employers, other financial institutions and other sources listed on the application.
We may also disclose information we collect about you under other circumstances as permitted or required by law. These disclosures typically include information to process transactions on your behalf, conduct the operations of our credit union, follow your instructions as you authorize, or protect the security of our financial records. If you terminate your membership with Novation Credit Union, we will not share information we have collected about you, except as permitted or required by law.
How We Protect Your Information
We restrict access to nonpublic personal information about you to those employees who have a specific business purpose in utilizing your data. Our employees are trained in the importance of maintaining confidentiality and member privacy.
We maintain physical, electronic, and procedural safeguards that comply with federal regulations and lending industry practices to safeguard your nonpublic personal information.
What You Can Do to Help Protect Your Privacy
Novation Credit Union is committed to protecting your privacy. You can help by
following these simple guidelines.
- Protect your account numbers, card numbers, PINs (personal identification numbers) and passwords.
- Use caution when disclosing your account numbers, Social Security number, etc, to other persons. The staff of Novation Credit Union will never call you to ask for your account number or PIN.
- Keep your information current. It is important that we know how to reach you. If we detect potentially fraudulent or unauthorized activity on an account, we will attempt to contact you. If your address or phone number changes, please let us know.
Future Affiliations and the Right to Opt Out
Novation Credit Union reserves the right to enter into relationships with nonaffiliated third parties to further enhance the services we provide. In doing so, we may disclose nonpublic personal information about you to these companies. As of the effective date of this policy the credit union has no relationships of this kind nor any plans to enter into one. In the event that we did enter into such a relationship, if you prefer that we do not disclose nonpublic personal information about you to such nonaffiliated third parties (other than those permitted by law), you may opt out of those disclosures by doing one of the following:
Once we receive your request, we will act as quickly as possible to stop disclosures. You may opt out of these disclosures at any time. This opt out option by law will not apply to disclosures that we make to companies that perform services on our behalf. You may always contact us for assistance if you wish later to revoke your opt out election. For a joint account, either of you may exercise the right to opt out. Novation Credit Union will treat an opt out request from any one party to an account as if all account holders directed us to not make disclosures to non-affiliated third parties to which the opt out right applied.
Effective June 2008
Novation Credit Union