- From member applications or other forms (examples: name, address, social security number, income)
- Member transactions with the credit union or others (examples: account balance, payment history)
- Information we receive from a consumer reporting agency (examples: credit worthiness, credit history)
- Information obtained when verifying the information provided on applications or other forms that may be obtained from current or past employers, or from other institutions where financial transactions are conducted.
Former Member Information
IUAWFCU will not share information about members who have terminated their relationship with the credit union, unless permitted or required by law to do so. Annual privacy notices will no longer be sent to those who have terminated their relationship with IUAWFCU.
Information Disclosed to Third Parties
In order to conduct the business of the credit union, we may disclose all of the information we collect, as described above, to companies that perform marketing or other services on our behalf or to other financial institutions with whom we have joint marketing agreements so that we may provide members competitive products and services. We may also disclose nonpublic personal information as permitted or required by law. These disclosures typically include information to process transactions on the member’s behalf, conduct the operations of our credit union, follow member’s instructions as we are authorized, or protect the security of our financial records. To protect our member’s 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 the information we provide to other third parties.
Contracts with Affiliates
Under both the Gramm-Leach-Bliley and the NCUA Privacy Regulations, IUAWFCU may share member information with affiliates of this credit union. The term “affiliate” means “any company that controls, is controlled by, or is under common control with another company.” However, agreements in regards to keeping member information confidential have been addressed.
Safeguarding Member Information
IUAWFCU will maintain security measures consistent with the requirements of federal and state regulations, including risk management systems designed to prevent unauthorized access, both internal and external, to member information. IUAWFCU has procedures in place to protect member information systems in the event of a natural disaster or technical failure.
Credit Union Employees
IUAWFCU has contracted with a service provider to install and/or maintain our member information system. IUAWFCU exercised due diligence in selecting our service provider to ensure that proper security measures are in place to protect member information. IUAWFCU may regularly monitor service providers to ensure that they continue to satisfy their obligations.
Protection of Member Account Numbers
IUAWFCU will only share account numbers or access codes as authorized or required by law.
Nonmember Consumer Information
IUAWFCU does not provide services to nonmembers.
Joint Marketing Agreements
IUAWFCU may enter into joint marketing agreements to provide member information to nonaffiliated third parties to perform services for the credit union or functions on behalf of the credit union. IUAWFCU includes language in these joint marketing agreements prohibiting third parties from using or disclosing member information for purposes other than in the ordinary course of business to carry out the purposes for which the information was provided. Approved by the Board of Directors on, Friday, July 27, 2001, at the regularly scheduled Board Meeting.