Iron Mountain-Kingsford Community Federal Credit Union

PRIVACY POLICY

04-01-2010

The credit union is owned by its members and run by a board of directors you elect.  You can be confident that your financial privacy is a top priority for us.  We are required by law to give this privacy notice to explain how we collect, use and safeguard your personal financial information.

 We are committed to providing competitive products and services to meet our members financial needs. To do so, we have entered into an agreement with an affiliated third party financial service provider, which provides data processing and with a non-affiliated financial service provider (an insurance agent) to offer additional products. Under these arrangements, we may disclose all of the information we collect, as described below. To protect privacy, we only work with companies that agree to maintain strong confidentiality protections and limit the use of information we provide. We do not permit these companies to sell information to other third parties.

 We may also disclose information under other circumstances as permitted or required by law. These disclosures typically include information allowing us to follow instructions pertaining to accounts, to conduct the operations of the credit union and/or to protect the security of our financial records.

We collect the following nonpublic personal information from a variety of sources and may disclose all the information we collect to other financial institutions with which we have joint marketing agreements and/or with other affiliated companies. 

• From membership and loan applications and other forms, we obtain information such as name, address, social security number and employment.

• From transactions with our affiliates, and us we obtain information such as account balances, payment history, parties to transactions, and credit card usage.

• *From consumer reporting agencies, we obtain credit history.

• *From verifications of information provided on applications and other forms, we obtain information from current or past employers, other financial institutions and other sources listed on the applications.

If membership with the credit union is terminated, we will not share information we have collected, except as permitted or required by law. 

We restrict access to nonpublic personal information to those employees and directors who have a specific business purpose in utilizing this data. We are trained in the importance of maintaining confidentiality and member privacy. We maintain physical, electronic, and procedural safeguards that comply with federal regulations and leading industry practices to safeguard members nonpublic personal information.

*This information is collected only. We will not disclose it unless required by law.