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United Commerce Bank Privacy Policy and Disclosure Notice
This notice is being provided to you in compliance with federal law. The
directors, management, and staff of United Commerce Bank are concerned about and
respect the privacy of customers’/consumers’ personal financial information. We
understand that our customers furnish sensitive information to the bank in the
course of daily business, and the bank is committed to treating such information
responsibly. We know that our customers expect privacy and security for their
personal and financial affairs.
The bank will take all the necessary steps to safeguard sensitive information
that has been entrusted to us by our customers. The following privacy policy and
disclosure outlines the bank’s practice regarding personally identifiable
financial information for consumers and those consumers who become our
customers.
TYPES OF INFORMATION THE BANK COLLECTS
| At United Commerce Bank we collect nonpublic, personal information about you
from many sources, including the following: |
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Information we receive from you on applications or other forms. |
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Information about your transactions with us, our affiliates, or
others. |
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Information we receive from a consumer reporting agency. |
| Nonpublic, personal information does not include that which is available from
government records, widely distributed media, or government-mandated
disclosures. |
TYPES OF INFORMATION THE BANK DISCLOSES
| The bank does not now, nor does it intend in the future, to disclose any
personal financial information on current or previous customers, to any
nonaffiliated or affiliated third party. By law the bank may disclose certain
personally identifiable information without allowing consumers the right to opt
out of the bank’s sharing agreements in the following circumstances: |
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To companies who perform transaction processing for the bank in the
following circumstances: |
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If the transaction, service, or product is requested or authorized
by the consumer. |
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To maintain or service a consumer’s account as part of a private
label credit card or other loan extension program. |
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In connection with a securitization, secondary market sale
(including servicing rights), or similar transaction related to a
consumer. |
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To disclose information necessary to enforce the bank’s legal or
contractual rights or the rights of any other person who is engaged in
the financial transaction. |
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To disclose information required in the ordinary course of banking
business, such as the settlement of claims or benefits, the confirmation
of information to the consumer or the consumer’s agent, and the billing,
processing, or clearing of items in the normal course of business. |
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To provide information to insurance rate advisory organizations,
guaranty funds or agencies, agencies that are rating the bank, persons
who are assessing the bank’s compliance with industry standards, and the
bank’s attorneys, accountants, and auditors. |
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To the extent permissible under the Right to Financial Privacy Act. |
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To a consumer reporting agency under the Fair Credit Reporting Act. |
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To comply with federal, state, or local laws, rules, and other
applicable legal requirements. |
SAFEGUARDING CUSTOMER INFORMATION
At United Commerce Bank we protect consumer privacy by ensuring that only
employees who have a business reason for knowing information have access to it.
For example, information in loan files can only be accessed by employees who
work in the loan origination or loan operations departments. All employees have
a copy of this policy and are trained at least annually regarding the importance
of safeguarding customer information. If we change our policy or practice by,
for example, adding a category of information that we will disclose to a third
party, we will notify existing customers and give them an appropriate time
period to opt out of the disclosure. If you have questions regarding this policy
please contact us at (812) 336-2265.
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