Collection of Personal Information
In the course of doing business, First Federal may collect nonpublic personal information about you from the following sources:
Information we receive from you on applications or other forms, such as your name, address, assets, Social Security number and income.
Information about your transactions with us; this may include: your account balance, payment history, transactions and debit and ATM card usage.
Information we receive from consumer reporting agencies, such as your creditworthiness and credit history.
Information through Internet session cookies.
Federal Law allows banks to disclose their customers’ nonpublic personal information under certain exceptions within the Privacy Rule. One of the exceptions allows banks to share with a nonaffiliated financial company without allowing the customer the ability to opt out of the sharing. The following requirements must first be met:
The financial company must market financial products or services offered under a joint agreement between the bank and the financial company. The joint agreement must be a written agreement under which the bank and the financial company “jointly offer, endorse, or sponsor” a financial product or service.
The bank must provide each customer with a privacy notice including a separate statement describing our joint marketing.
The bank must have a written contract that restricts the financial company from disclosing or using our customers’ nonpublic personal information for any purpose other than to offer financial products and services to our customers.
An Internet session cookie is unique customer identifying information necessary to navigate online. The only instance First Federal uses an Internet cookie is to determine the length of time you have had an inactive online banking session. For example, if your online banking session is greater than a certain length of time, the system utilizes an automatic logoff function. The automatic logoff function increases your security by preventing others to proceed with online activity.
Information We May Disclose
To offer you new products and services, or to protect against potential fraud, we may disclose all of the above information we collect to companies that perform these services on our behalf. These companies are contractually obligated to keep your customer information confidential and to use this information only to provide the services we have asked them to perform for you and us.
Internal Security Controls
We restrict access to nonpublic personal information to provide products or services to you. We maintain physical, electronic and procedural safeguards that comply with federal standards to guard your nonpublic personal information. First Federal limits employee access to your personal information to only those bank personnel with a business reason for knowing such information. First Federal also educates all employees about the importance of confidentiality and customer privacy. In addition, individual user names and passwords are used by approved bank personnel to access your personal information, providing audit trails to further safeguard the privacy of your personal information.
Maintenance of Accurate Information
It is in the best interest of both you and First Federal to maintain accurate records concerning your personal information. For this reason, First Federal allows you to update your personal information online, at any time, through the submission of encrypted e-mail requests sent to the secure administration site. Notifications are immediately sent to approved bank personnel alerting them to the receipt of your request. This procedure allows First Federal to update your personal information within a timely manner.