Somerset Federal Credit Union Privacy Policy
Having information readily available is helpful for us to serve you better. But having your personal information on file also comes with a responsibility to protect your privacy. Somerset Federal Credit Union takes this responsibility very seriously.
Our Commitment to You
Our sole purpose is to provide you with financial products and services to meet your financial goals. In the process, we respect your right to confidentiality and take every possible measure to ensure that your personal information remains personal. Our Privacy Policy, stated below, describes our policies and practices that protect your privacy and enable us to share information to make available additional financial products and services.
Information We Collect About You
We collect information about you from the following sources:
- Information we receive from you on applications and other forms.
- Information about your transactions with us.
- Information we receive from a consumer reporting agency.
Disclosure of Information to Parties That Provide Service to Us:
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 a joint marketing agreements so that we may provide our members competitive products and services.
We may also disclose nonpublic personal information about you under circumstances as permitted or required by law. These disclosures typically include information to process transactions on your behalf, conduct the operations of our credit union, follow your instructions as you authorize or protect the security of our financial records.
If you decide to terminate your membership with the Somerset Federal Credit Union we will not share information we have collected about you, except as permitted or required by law.
How We Protect Your Information
We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic and procedural safeguards that comply with federal regulations to guard your nonpublic personal information.
What You Can Do to Help Protect Your Privacy
The Somerset Federal Credit Union is committed to protecting the privacy of its members and customers. You can help by following these simple guidelines:
- Protect your account numbers, card numbers, PINs (personal identification numbers) and passwords. Never keep your PIN with your debit or credit card which can provide free access to your accounts if your card is lost or stolen.
- Use caution when disclosing your account numbers, social security numbers, etc. to other persons. If someone calls you, explains the call is on behalf of the credit union and asks for your account number, you should beware. Official credit union staff will have access to your information and will not need to ask for it.
- Keep your information current. It is important that we have current information on how to reach you. If we detect potentially fraudulent or unauthorized activity or use of an account, we will attempt to contact you immediately. If your address or phone number changes, please let us know.
Special Information Applicable to Electronic (Internet) Banking
Somerset Federal Credit Union's Privacy Policy also applies to members' confidential and private information with regard to both traditional and non-traditional (i.e., Internet) banking activities. However, due to the unique nature of the Internet and the ease with which information can be exchanged, Somerset Federal Credit Union feels it is important for members to be aware of the unique issues surrounding Internet Banking.
To better serve our Internet Banking members:
- SFCU requires members to utilize specific access codes and passwords for access to confidential and private information. It is the member's responsibility to safeguard access IDs and passwords.
- SFCU utilizes encryption, firewall, router, third party verification procedures and other sophisticated security software and hardware to help prevent unauthorized eavesdropping of and access to members' confidential and private information.
- SFCU utilizes up-to-date computer virus protection software to help prevent the spread of computer viruses.
- SFCU utilizes "Multifactor Authentication" to help authenticate our members' identities and to help facilitate the exchange of information between SFCU systems and our members' systems.
- SFCU reminds all of our members that confidential and private information may be compromised in both traditional and non-traditional banking activities. SFCU can only establish policies and procedures to help restrict use of and access to confidential and private information. If any SFCU members believe that confidential and private information has been compromised, please contact Somerset Federal Credit Union immediately so that the potential breach can be investigated.
Let us know if you have questions. Please do not hesitate to call us (1-508-678-2851) - we are here to serve you!
