Your Privacy is important to us.
NOTICE OF YOUR FINANCIAL PRIVACY RIGHTS
We, our, and us, when used in this notice, mean First Federal Savings & Loan Association of Lorain.
This is our privacy notice for our customers. When we use the words “you” and “your” we mean the following types of customers:
Our consumer customers who have a continuing relationship by purchasing or holding financial products or services such as a(n):
- Deposit account
- Loan account
- Credit card account
- Safe deposit box
- Self-directed Individual Retirement Account
- Financial, investment, or economic advisory services
We will tell you the sources of the information we collect about you. We will tell you what measures we take to secure that information.
We first define some terms.
Nonpublic personal information means information about you that we collect in connection with providing a financial product or service to you. Nonpublic personal information does not include information that is available from public sources, such as telephone directories or government records. Hereafter, we will use the term “information” to mean nonpublic personal information as defined in this section.
An affiliate is a company we own or control, a company that owns or controls us, or a company that is owned or controlled by the same company that owns or controls us. Ownership does not mean complete ownership, but means owning enough to have control.
A nonaffiliated third party is a person we do not employ or a company that is not an affiliate of ours. This is also known as nonaffiliated third party, or simply, an “other party”.
THE INFORMATION WE COLLECT
THE CONFIDENTIALITY, SECURITY, AND INTEGRITY OF YOUR INFORMATION
We restrict access to information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic, and procedural safeguards to protect this information.
YOUR INFORMATION AND OUR AFFILIATES
We may disclose information about you to our affiliates. Here are the kinds of information and the source of that information:
Transaction and experience information from our account records:
Information about your transactions and experience with us, such as
- Name
- Address
- Account balances
- Types of accounts
Federal law allows us to disclose the information listed above with our affiliates. You do not have a right to opt out of this information.
Types Of Affiliates
We may disclose information about you to the following types of affiliates:
Financial service providers, such as:
- Securities broker-dealers
- Insurance agents
Reasons For Disclosure
We may disclose information about you to our affiliates to provide you with information about additional products and services.
YOUR INFORMATION AND OTHER PARTIES
We will not disclose information about you to anyone except as disclosed in this policy to anyone except as disclosed in this policy or as permitted by law. Examples of this might include disclosures necessary to service your account or prevent unauthorized transactions.
INFORMATION ABOUT FORMER CUSTOMERS
We do not disclose information about former customers, except as permitted by law.
A NOTE CONCERNING IDENTITY THEFT
According to the Federal Trade commission, identity theft is the fastest-growing crime in the country. Our ability to feel safe is becoming more difficult with terrorism and crime on a steady increase.
But there is hope…
The USA PATRIOT ACT has paved the way for financial institutions to help prevent fraud, identity theft, and the spread of terrorism. It requires financial institutions to obtain more information from an individual or legal entity to help establish identity.
Your cooperation is needed when you open a new account or request a loan. You may be asked more questions to establish and confirm your identity. It may also be required for you to provide one or more of the following types of identifications:
Driver’s license
Passport and country of issuance
U.S. taxpayer identification (ID) number
Alien ID card
Any other government-issued document evidencing nationality or residence
