Academic Federal Credit Union Privacy Policy
Academic Federal Credit Union is owned by its members. It is governed by a Board of Directors elected by the membership. Members can be confident that financial privacy is a top priority of this institution. This privacy notice describes Academic FCU’s policy and practices about members’ personal information.
Academic FCU is committed to providing members with products and services to meet their financial needs.
This sometimes requires that Academic FCU shares information about members among the office staff and others as appropriate. Access to members’ information will be reasonably limited to those employees who have a business reason for such access.
Academic FCU sometimes enters into joint marketing agreements with other companies that provide financial and other services, through it, to its members. Academic FCU may share information collected (see below) with these companies.
In order to protect members’ privacy, Academic FCU only works with companies that agree to maintain strong confidentiality protections and it limits the amount of information provided. Academic FCU does not permit these companies to transmit to third parties the information provided to them.
Information That Academic FCU Collects
Academic FCU collects nonpublic personal information about members from the following sources:
Information provided by members on applications or other forms,
Information about members’ transactions with Academic FCU,
Information received from a consumer reporting agency, and
Information obtained when verifying the information a member provides on an application or other forms. This may be obtained from members’ current or past employers, or from other institutions where members conduct financial business.
The Confidentiality of Members’ Nonpublic Personal Information
Academic FCU restricts access to nonpublic personal information about members to those employees who need to know that information to provide products or services. Academic FCU maintains physical, electronic, and procedural safeguards that comply with federal regulations to guard members’ nonpublic personal information.
Nonpublic Personal Information for Current and Former Members and Nonaffiliated Third Parties
Since Academic FCU values its member relationships, it will not disclose members’ nonpublic personal information to third parties, except as permitted by law. Academic FCU does not disclose nonpublic personal information about former members.
Authorized Sharing – Joint Marketing
Academic FCU may disclose the following information to other financial institutions with which it has joint marketing agreements:
Nonpublic personal information received from a member on an application or other form, such as name, address and Social Security number.
Nonpublic personal information about members’ transactions with our institution, such as type of accounts.
Federal law allows Academic FCU to share the information above with other financial institutions with which it has joint marketing agreements. Members do not have the right to opt out of the disclosure of this information. Academic FCU may also disclose nonpublic personal information about members to nonaffiliated third parties as permitted by law.
Types of Businesses
The type of businesses with whom Academic FCU may share nonpublic personal information includes providers of financial services (such as insurance agents) and companies offering non-financial services (such as publishers).