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Privacy Policy

At Local 20 IBEW Federal Credit Union, we value the trust you have placed in us, and we intend to continue to earn your trust each day.  That's why we welcome this opportunity to describe our privacy policies and steps we take to protect your personal information.  You can be confident that your financial privacy is a top priority at Local 20 IBEW Federal Credit Union.

Our mission is to provide you with superior products and services, along with the peace of mind knowing that your privacy is secure.  We understand your concerns about guarding information about you and your account.  We want to assure you that we have taken steps, and will continue to take steps, to safeguard that information.


LOCAL 20 IBEW FCU WILL PROTECT YOUR PERSONAL INFORMATION

We restrict access to non-public 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 leading industry practices to safeguard your personal information.



LOCAL 20 IBEW FCU WILL COLLECT ONLY THE PERSONAL INFORMATION THAT IS NECESSARY TO CONDUCT OUR BUSINESS

That means just what is necessary to provide competitive financial products and services-no more.  This information comes from the following sources:

  • Information we receive from you on applications and other forms, such as your name, address, social security numbers, assets and income;
  • Information about your transactions with us, our affiliate or others, such as your account balance, payment history, parties to transactions, and credit card usage;
  • Information we receive from a consumer reporting agency, such as your credit worthiness and credit history; and
  • Information obtained when verifying the information you provide on an application or other forms, such as from your current or past employers or from other institutions where you conduct financial transactions.

LOCAL 20 IBEW FCU WILL ONLY SHARE INFORMATION WHEN ABSOLUTELY NECESSARY

We do not disclose any non-public personal information about our members and former members to anyone, except as required or permitted by law.  We may disclose information we collect to companies that perform marketing services on our behalf or to other financial institutions with which we have joint marketing agreements.  Our disclosures typically include information to conduct the operations of Local 20 IBEW Federal Credit Union, follow your instructions as you authorize, protect the security of our financial records, or process transactions on your behalf.  The reasons we may share information:

  • Assist us in providing service and account maintenance.
  • Help design and improve our products.
  • Offer products and services that may be of interest to you.

We do not sell member information to any person or firms for any reasons.


OPT OUT NOTICE NOT APPLICABLE

According to the Gramm-Leach-Bliley Act and the Fair Credit Reporting Act, financial institutions that engage in certain practices must provide opt out notices to their accountholders.  Because we do not participate in those types of practices, opt out notices are not applicable to Local 20 IBEW Federal Credit Union.  Except under limited circumstances, Local 20 IBEW Federal Credit Union does not share non-public, personal information with nonaffiliated third parties.  We only work with companies that agree to maintain strong confidentiality.  We do not permit these companies to sell your information to third parties or use the information for any purpose other than intended.  Local 20 IBEW Federal Credit Union is dedicated to protecting your privacy.

Approved On: 09/23/2003

 
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