Consumer Privacy Policy Statement
and Notice
Effective January 1, 2008
It is the policy of Parsons Federal Credit Union to recognize
and respect each member’s privacy and their expectation of privacy regarding
their financial information with this credit union. We understand consumers’ concern on how their information is collected, used and distributed. This policy
is to address those concerns and solicit their continuing trust and confidence
with us. This policy is also complying with the Gramm-Leach-Bliley Act (Act)
as required by all federally insured credit unions.
One of the main concerns is the use of non-public personal information once
it has been collected and the original transaction completed. Our credit union
uses the information only to the extent necessary to carry out our daily business
activities and to provide services and other opportunities to our members. We
do not have any affiliates. We acquire and keep only that information that we
have a reasonable use for or may support current or planned activities. We collect
non-public personal information about you from the following sources:
a. Information we receive from you on applications, e-mails, and other forms and documents such as your name, address, e-mail address, birth date, income, social security number;
b. Information about your transactions with us such as your credit card usage, your payment history or parties to the transaction;
c. Information we receive from a consumer reporting agency such as your creditworthiness and credit history;
d. Information obtained when verifying the information you provide on an application or other forms (this may be obtained from your current or past employers, or from other institutions where you conduct financial transactions) such as your payment history, information concerning your transactions and income;
e. Information obtained from consumer purchasing and census data providers, marketing researchers and public records such as demographic information.
f. Information obtained from our sponsoring company about potential members such as your name, address and social security number.
If you decide to terminate your membership or become an inactive member, we
will not share information we have collected about you, except as may be permitted
or required by law.
We may share some or all of the information described above
with non-affiliated third parties under the following conditions:
a. As necessary to help complete a transaction. This would include sharing information with companies that assist us in administering and bringing you our products and services such as check and statement printing companies and data processing companies. The information shared typically includes information to process transactions on your behalf, conduct our operations, follow your instructions as you authorize or protect the security of our financial records.
b. To companies that perform marketing or other services on our behalf. We have agreements with these companies that prohibit them from disclosing or using the information other than for providing these services.
c. To consumer and credit reporting companies;
d. To non-affiliated third parties as permitted or required by law;
e. To non-affiliated third parties at the member’s consent or request.
Because of the limited way we share information with non-affiliated
third parties, we are not required to provide you with the opportunity to opt-out
from the disclosure of information to non-affiliated third parties.
Keeping your information accurate and up-to-date is very
important. If you ever find out that your information is incomplete, inaccurate,
or not current, please call or write us at the telephone number shown on your
statement. We will correct your information and maintain it in a complete and
accurate manner. Personal information will not be improperly altered or destroyed.
Security standards and procedures are in place to both maintain the records
and prevent unauthorized disclosure of information. PFCU employees will only
have access to member information as needed for a particular business transaction
on a "need-to-know’ basis. Our credit union trains and educates our
employees on the importance of maintaining member privacy and trust and does
periodic monitoring and training to ensure their compliance.
The use of "cookies" on our Website
The Parsons Federal Credit Union online banking product,
CU Online, uses a temporary, or "session"cookie. These session cookies
are temporarily stored on your web browser and set to expire after you end your
session on CU Online. “Session” cookies are not used to track your
individual activity while using CU Online. Cookies are not able to retrieve
non-public personal information from your computer, and they can't retrieve
e-mail messages or other information that is not provided to us. MemberPay™,
PFCU’s Bill Payment product, uses a cookie only to remember that you have
already signed up for the product and have read and accepted the bill payment
disclosure and terms of use.
Children’s Privacy Act
The online financial services offered through the credit union’s website
are not designed for or directed toward children under age 13. We do not knowingly
solicit or collect data from children, and we do not knowingly market to children
online without express parental consent or notification. If we receive online
information from anyone that we know to be a child, we will only use the information
to respond directly to a child’s request. We recognize that protecting
children’s identities and online privacy is important and that responsibility
rests with us and with parents. If any member believes their child has provided
personally identifiable information to us, they must contact us so that we can
allow you the opportunity to review and delete such information.
The credit union recognizes it responsibility to provide
an initial and annual notice if its privacy policies and practices to each of
its members.