Online Privacy
Preferred Credit Union is committed to protecting the privacy of our members. In general, you can visit us on the World Wide Web without disclosing to us who you are or revealing any information about yourself. There are several areas, however, that will collect certain information about you and we want you to know how we handle that information.
If you visit our website, Preferred Credit Union collects and stores information on the domain you use to access our website, the Internet address of the site from which you linked directly to the site, and the date and time of your visit. This information is used to measure the number of visitors to the various pages on our site to better serve our membership.
Email Security
If you send an email, Preferred Credit Union collects and stores personally-identifying information in order to process your email, form or application. This information is not sold to any third parties. Due to the volume of email activity, these messages are deleted after they are answered. Contact Disclaimer: Please do NOT include any personal information such as your account number or scoial security when contacting us via email.
Links to other Sites
Preferred Credit Union may provide links to other websites. These links are provided as a convenience to our members and the privacy and security policies may vary on these linked websites. We encourage you to read the privacy and security policies of all websites you visit, especially before providing any personal information.
WHAT DOES PREFERRED CREDIT UNION DO WITH YOUR PERSONAL INFORMATION?
FACTS
Why?
Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
At Preferred Credit Union, we respect the privacy of our members. We recognize the importance of maintaining the confidentiality of your personal financial information. This notice describes the privacy policy and practices followed by Preferred Credit Union. This notice explains what types of member information we collect and under what circumstances we may share it.
What?
The types of personal information we collect and share depend on the accounts or services you have with us. This information can include:
- Name, address, social security number, and income
- Account balances and transaction history
- Credit history and credit scores
When you are no longer our member, we will not share your information except as permitted or required by law as described in this notice.
How?
All financial companies need to share members’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their members’ personal information; the reasons Preferred Credit Union chooses to share; and whether you can limit this sharing.
| Reasons we can share your personal information | Does Preferred Credit Union share? | Can you limit this sharing? |
| For our everyday business purposes— such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
| For our marketing purposes— to offer our products and services to you | Yes | No |
| For joint marketing with other financial companies | Yes | No |
| For our affiliates’ everyday business purposes— information about your transactions and experiences | Yes | No |
| For our affiliates’ everyday business purposes— information about your creditworthiness | No | We don’t share |
| For nonaffiliates to market to you | No | We don’t share |
Questions?
Call (800) 328-4131, send us an email at memberservice@preferredcu.orgor write to us at:
Preferred Credit Union, 3767 Sparks Dr. SE, Grand Rapids MI 49546.
What we do | |
| How does Preferred Credit Union protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. We also restrict access to nonpublic personal information about you to those employees and volunteers who need to know the information to provide products or services to you. |
| How does Preferred Credit Union collect my personal information? | We collect your personal information, for example, when you
We also collect your personal information from others, including credit bureaus or other companies. |
| Why can’t I limit all sharing? | Federal law only gives you the right to limit only:
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
| Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies.
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| Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies.
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| Joint marketing | A formal agreement between Preferred Credit Union and a nonaffiliated financial company where we jointly market financial products or services to you.
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DISCLOSURE OF INFORMATION TO PARTIES THAT PROVIDE SERVICES TO US
We may disclose all of the information we collect about you as permitted or required by law. The disclosure of this information typically includes processing transactions on your behalf, as you authorize to provide you with a product or service, to conduct the operations of this credit union, and to protect the security of your and our financial records.
We only do business with companies that agree to maintain the confidentiality of your information and we limit their use of your information to what is necessary to provide you with products or services. At no time are these companies ever authorized to access or charge your account without your authorization.
PROTECTING THE CONFIDENTIALITY, SECURITY AND INTEGRITY OF NONPUBLIC PERSONAL 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 or procedural safeguards that comply with federal regulations to guard your nonpublic personal information.
We maintain strict confidentiality of all information collected from consumers that perform transactions at ATMs we own or operate. We do not disclose or otherwise use such information, except to perform or complete the transaction authorized by the consumer, or as required by law.
PARTIES WHO RECEIVE INFORMATION FROM US
We do not disclose any nonpublic personal information about our members to nonaffiliated third parties, except as permitted by law.
DISCLOSURE OF INFORMATION ABOUT FORMER MEMBERS
If you decide to close your account(s) or become an inactive member, we will follow the privacy policies and practices as described in this notice.
Your savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.
BIOMETRIC INFORMATION PRIVACY POLICY AND CONCENT
Scope and Overview
This policy outlines how Preferred Credit Union, its vendors, and/or the licensor of the Preferred Credit Union’s consumer verification software processes biometric data collected from you for identity verification and fraud prevention purposes.
Biometric Data Defined
As used in this policy, biometric data includes “biometric identifiers” and “biometric information”. “Biometric identifier” means a retina or iris scan, fingerprint, voiceprint, or scan of hand or face geometry. As the term is used in this policy, the selfie photograph you upload to the software for use in the biometric algorithm is considered a “biometric identifier.” “Biometric information” means any information, regardless of how it is captured, converted, stored, or shared, based on an individual’s biometric identifier used to identify an individual.
Disclosure and Authorization Policy
To the extent that Preferred Credit Union, its vendors, and/or the licensor of the Preferred Credit Union’s consumer verification software collect, capture, or otherwise obtain biometric data relating to a consumer, Preferred Credit Union must first:
– Inform each consumer that Preferred Credit Union, its vendors, and/or the licensor of the Preferred Credit Union’s consumer verification software are collecting, capturing, or otherwise obtaining the employee’s biometric data, and that the Preferred Credit Union is providing such biometric data to its vendors and the licensor of the Preferred Credit Union’s consumer verification software;
– Inform the consumer of the specific purpose and length of time for which the consumer’s biometric data is being collected, stored, and used; and
– Receive consent by the consumer authorizing Preferred Credit Union, its vendors, and/or Preferred Credit Union’s consumer verification software to collect, store, and use the consumer’s biometric data for the specific purposes disclosed by the Preferred Credit Union, and for Preferred Credit Union to provide such biometric data to its vendors and the licensor of the Preferred Credit Union’s consumer verification software.
Preferred Credit Union, its vendors, and/or the licensor of the Preferred Credit Union’s consumer verification software will not sell, lease, trade, or otherwise profit from employees’ biometric data; provided, however, that the Preferred Credit Union’s vendors and the licensor of the Preferred Credit Union’s consumer verification software may be paid for products or services used by Preferred Credit Union that utilize such biometric data.
This policy is intended to comply with all federal, state, and local laws.
Purpose for the Collection of Biometric Data
Preferred Credit Union, its vendors, and/or the licensor of Preferred Credit Union’s consumer verification software collect, store, and use biometric data solely for identity verification and fraud prevention purposes.
Disclosure
Preferred Credit Union will not disclose or disseminate any biometric data to anyone other than its vendors and the licensor of the Preferred Credit Union’s consumer verification software providing products and services using biometric data without/unless:
– First obtaining consumer consent to such disclosure or dissemination;
– The disclosed data completes a financial transaction requested or authorized by the consumer;
– Disclosure is required by law or ordinance; or
– Disclosure is required pursuant to a valid warrant or subpoena issued by a court of competent jurisdiction.
Security
Preferred Credit Union shall use a commercially reasonable standard of care to store, transmit and protect from disclosure any biometric data collected. Such storage, transmission, and protection from disclosure shall be performed in a manner that is the same as or more protective than the manner in which Preferred Credit Union stores, transmits and protects from disclosure other confidential and sensitive information, including personal information that can be used to uniquely identify an individual or an individual’s account or property, such as genetic markers, genetic testing information, account numbers, PINs, driver’s license numbers and social security numbers.
Retention
Preferred Credit Union shall retain consumer biometric data only until, and shall request that its vendors and the licensor of Preferred Credit Union’s consumer verification software permanently destroy such data when, the first of the following occurs:
– The initial purpose for collecting or obtaining such biometric data has been satisfied, such as verification of consumer identity;
– Request of consumer to destroy the biometric data; or
– Within 30 days of consumer’s provisioning of biometric data.
Contact Information
If you have any questions about our use, storage, or security of your biometric data you can contact us at: MemberService@PreferredCUorg.
BIOMETRIC INFORMATION CONSUMER CONSENT
As outlined in the “Biometric Information Privacy Policy”, I understand and consent to the collection, use, retention, storage, and/or disclosure or re-disclosure of data or images from biometric verification technology by Preferred Credit Union, its vendors, and/or the licensor of the Preferred Credit Union’s consumer verification software. I acknowledge that I have been given a copy of the Policy, or that the Policy has been made accessible to me, and I have had an opportunity to review it and request any additional information concerning the Preferred Credit Union’s procedures and safeguards for collecting, maintaining, using, disclosing, sharing, storing, and/or destroying this data.
