Disclosures
Community Powered Federal Credit Union is committed to making available financial products and services that will enable our members to meet their financial needs and reach their financial goals. Whether at a branch, at an ATM, on the telephone, or online through the internet, protecting personal information and using it in a manner consistent with member’s expectations is a high priority to everyone associated with Community Powered Federal Credit Union.
Member privacy is important to us. At Community Powered Federal Credit Union we are committed to providing you with the finest products backed by excellent service. While information is fundamental to our ability to provide products and services we fully recognize the importance of protecting your personal and financial information.
To ensure that members can rely on the quality products and services available through Community Powered Federal Credit Union and its affiliated companies, we have enacted the following privacy policy:
Community Powered Federal Credit Union will collect only the personal information necessary to conduct our business. That means just what is necessary to provide competitive financial products and services and nothing more.
Community Powered Federal Credit Union will restrict the access to non-public members’ information solely to staff who need to know this information, and are trained in the proper handling of non- public information. Staff who violate the policies are subject to disciplinary action.
Community Powered Federal Credit Union will protect your personal information. Our credit union will maintain strong security controls to ensure that your information in our files and computers is secure. When appropriate, we will use security coding techniques (such as Personal Identification Numbers) to protect against unauthorized access to personal records, to ensure the accuracy and integrity of communications and transactions, and to protect member confidentiality.
Community Powered Federal Credit Union members will always have access to their information. As a member of Community Powered Federal Credit Union, you will always have the opportunity to review your information. When notified of an error, we will promptly make changes to ensure that our records are complete and accurate.
Community Powered Federal Credit Union will only share information when absolutely necessary. We will share information used to administer the products and services we provide when; required to do so by a government agency or regulatory body, or court order; by legal requirement a credit reporting bureau requires such; we partner with other business to offer a broader array of products and services; we receive your written permission to provide information to a third party.
Community Powered Federal Credit Union will only partner with businesses that follow strict confidentiality policies. The businesses we select will offer products designed to enhance our members’ economic well-being. Under no circumstances will we authorize those partners to charge your account for any fees without your express consent. Community Powered Federal Credit Union will not sell our member’s information to telemarketing firms or other third parties.
Community Powered Federal Credit Union will offer you a choice in how your information is used. Any member of our credit union may elect to keep their information from being shared with our business partners. We will inform you on how to exercise your choice, and we will take all reasonable steps to make sure that your requests are honored. At least once a year we will remind all of our members of these rights.
The Patriot Act requires credit unions to take extra security precautions to help the government fight the funding of terrorism and money laundering activities.
Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. These new procedures are designed to prevent crimes, such as identity theft and account fraud that terrorists commit to finance their operations.
Your understanding and cooperation are appreciated.
When an account is opened or changed, you will be asked for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying government issued documents.
The definition of an account covers a broad range of regular financial transactions such as deposit, transaction, asset, or credit accounts – or other extension of credit. The required verification may be a temporary inconvenience for some, but a strong deterrent for terrorists and other criminals.
Rest assured that we will only request the information required by the law and that we will use the information only for purposes complying with the law. Your privacy is our top concern, and we will respect and protect it as always, consistent with the law’s requirements.
Read more about the Patriot Act here.
The HMDA data about our residential mortgage lending are available online for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, age, and income of applicants and borrowers; and information about loan approvals and denials. These data are available online at the Consumer Financial Protection Bureau’s website (www.consumerfinance.gov/hmda). HMDA data for many other financial institutions are also available at this website
This disclosure documents your consent to conduct transactions electronically and to electronically receive disclosures and notices relative to the accounts you are applying to open with us online. The disclosure also describes your rights relative to conducting transactions electronically and to electronically receiving disclosures and notices, as well as the consequences of withdrawing your consent. We recommend you print and retain a copy of this disclosure and all the disclosures and agreements related to this transaction.
Once you consent, you will be able to apply to open accounts online. If you do not consent, you will not be able to apply online. However, regardless of whether you consent, you will still be entitled to apply to open an account through other methods that we permit, such as in person.
You understand, prior to consenting, that:
- Your consent applies only to disclosures and notices regarding your accounts, including your periodic account statements;
- Unless you consent, you have the right to receive all required disclosures in paper or non-electronic form;
- Even after consent, if you want to receive a paper copy of the disclosure in addition to the electronic disclosure you can obtain one free of charge by calling us or writing us at the number or address listed below;
- You can withdraw your consent at any time by calling or writing us at the number or address listed below, and
- By consenting to conduct transactions and receive disclosures and notices electronically you agree to provide us with the information (such as current email address) needed to communicate with you electronically and update us as to any changes in such information by calling or writing us at the number or address listed below.
Community Powered Federal Credit Union
1758 Pulaski Highway
Bear, DE 19701
Phone: (302) 368-2396
Toll-Free: (877) 368-2396
We reserve the right to provide any disclosures or notices in writing, rather than electronically. Except as otherwise provided in this or other agreements, by law, or on our website, you cannot give us notices electronically, and all notices from you must be in writing.
