Waterbury Postal Employees Federal Credit Union is committed to providing members with financial products and services to meet their needs and to reach their financial goals.  The credit union is equally committed to protecting members’ privacy.  The following constitutes Waterbury Postal Employees Federal Credit Union’s policy on protecting the privacy of members’ nonpublic personal information.

 

The credit union collects nonpublic personal information about members from the following sources:

 

• Applications and other forms.

• Transactions with the credit union or others provided through member transactions.

• Credit reporting agencies.

• Information obtained when verifying the information provided on an application or other form(s) (information from current or past employer(s), other financial institutions, etc.).

 

Waterbury Postal Employees Federal Credit Union may disclose all of the information collected, as described above, to companies that perform marketing or other services on behalf of the credit union.  To protect member nonpublic personal information, the credit union will only use vendors that agree they will maintain strict member confidentiality of nonpublic information and only use the information for the purposes intended.  The credit union will not allow these companies to sell any nonpublic personal member information to other third parties.

 

In order to conduct the business operations of the credit union, Waterbury Postal Employees Federal Credit Union may also disclose nonpublic personal information about members under other circumstances as permitted or required by law.  These disclosures typically include information to process transactions on the member’s behalf, to conduct credit union operations, to follow members’ authorized instructions, or to protect the security of credit union financial records.

 

Restrictions on Sharing Account Numbers

Waterbury Postal Employees Federal Credit Union prohibits the sharing of account numbers with any nonaffiliated third party for use in telemarketing, direct mail marketing or marketing through electronic mail to members.

 

 

Disclosure Information About Former Members

Waterbury Postal Employees Federal Credit Union will not share nonpublic personal information that has been collected about a member once that member has terminated the credit union relationship except as permitted by law.

 

Protecting Member Information

Waterbury Postal Employees Federal Credit Union restricts access to nonpublic personal information about members to those employees who need to know that information to provide products and services to those members.  All employees, directors and members of committees of this credit union must maintain confidentiality in all transactions of the credit union with its members and all information respecting their personal affairs, except when permitted by state or federal law.  The credit union also maintains physical, electronic and procedural safeguards that comply with federal regulations to guard the nonpublic personal information of members.

 

Distribution of Policy

Waterbury Postal Employees Federal Credit Union’s privacy policy is distributed to each new member at the time of account opening. The privacy disclosure will be written in a clear, conspicuous and retainable manner.

 

Opt Out Requirement

Currently, the credit union does not disclose any nonpublic personal information to nonaffiliated third parties that would require the credit union to provide members with an option to opt out of information disclosure.  The credit has evaluated all nonpublic information that is disclosed; and at this time all disclosures fit into one of the following exceptions to the opt out requirement.

 

1. Affiliates.

2. Nonaffiliated third parties that process or service transactions.

3. Joint marketing agreements with other financial institutions (signed contract needed).

4. Nonaffiliated third party service providers (signed contract needed).

5. Laundry list exceptions.

 

If it becomes necessary to provide an opt out it will be added to the credit union’s privacy policy and disclosed to members as described above.