We know that our members expect privacy and security of their personal information. The directors, management and staff of Community Source Federal Credit Union are committed to treat such information responsibly. The credit union will take the necessary steps to safeguard sensitive information that has been entrusted to us by our members. The following privacy policy and disclosure outlines the credit union’s practices regarding personally identifiable information for members and others with whom we establish a relationship, pursuant to 12 CFR §716.

Types of Information the Credit Union Collects

The credit union collects nonpublic personal information directly from members, joint owners, co-borrowers, and guarantors on various applications and forms — for example, membership enrollment forms, loan applications, and requests for information about accounts or products and services.

We also collect information as a result of transactions occurring from the use of our products and services or those of our affiliates. This would include transaction information from share drafts (checks), debit cards, credit cards, automated teller machine (ATM) cards, and electronic transfers (for example, using eBranch or automated clearinghouse (ACH) transactions).

Note: Information the credit union obtains from government records, widely distributed media or government-mandated disclosures are not considered nonpublic personal information.

Types of Information the Credit Union Discloses

The credit union may share personal information about current or former members as permitted or required by law with our affiliates or certain nonaffiliated third parties who:

• Facilitate or process transactions
• Provide assistance in loan underwriting and securitization
• Process outgoing mails
• Market our services or products to members

If the credit union shares information with a non-affiliated third party, the credit union will enter into a written agreement with the third party that will require the third party to maintain the confidentiality of the information in the same manner the credit union would and restrict its use.

The credit union will not provide our members’ personal information to non-credit union companies for the purpose of their independent telemarketing or direct mail marketing of any nonfinancial products or services.

The credit union may disclose the following types of information about current or former members to our affiliates and certain nonaffiliated third parties:

• Identification information, such as names, addresses, and telephone numbers, social security number, birth dates, gender, and such other data as may be required to facilitate transactions requested by our members, or to offer products or services to our members.
• Transactional information.
Deposit or loan account experience, credit history, and other relevant information.

Safeguarding Member Information

The credit union is committed to ensuring the quality of service we provide and the protection of member personal information. We maintain physical, electronic, and procedural safeguards to protect member personal information. This includes applications and transactions the credit union accepts electronically (online, by phone, or fax, or via automated teller machines). All directors, committee members, management and credit union employees will review, at least annually, the importance of safeguarding member information. If we change our policy or practice by, for example, adding a category of information that will be disclosed to a third party, the credit union will notify existing members and give them an appropriate time period to opt out of the disclosure.

Contracts with Non-Affiliated Third Parties

All contracts executed by the Credit Union will comply with the requirements of 12 CFR §716, and will require that all third parties meet our standards for safekeeping our members’ confidential financial information.

Opt Out of Sharing Agreements

Following is a copy of the credit union’s Opt Out of Sharing agreement that will accompany the Privacy Policy Notice that is given to consumers prior to establishing membership with the credit union and at least once annually, and when any changes are made to the privacy policy.

Download Opt Out of Sharing Agreements Form