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Missoula Federal Credit Union Privacy Policy
Missoula Federal Credit Union cares about you, your right to privacy,
and the confidentiality of your personal information. We also care
about your financial security. That’s why we are offering every
product and service possible to help you meet your financial goals—even
those that require us to partner with third parties to deliver them,
such as brokerage and financial planning services, insurance services
and other financial services we are not able to directly offer you.
Missoula Federal Credit Union has placed the protection of your
personal information as a high priority. We know you expect more
from your credit union and we endeavor to meet and even exceed those
expectations.
This notice describes our policies that will protect your privacy
in a manner consistent with providing you with the financial products
and services you need. This notice also provides you with an opportunity
to inform us that you do not want us to disclose certain information
about you to other parties. This is referred to as an ‘opt out’
process and is further described below in Section Seven. Throughout
this notice the word ‘information’ refers to personal information
about you that may not be publicly available.
We may also disclose information for certain other specific purposes
and this is not described in this notice. These disclosures are
permitted under the law and generally include information necessary
to process transactions on your behalf, such as check printing,
information that is disclosed with your consent, information requested
under subpoena or other legal proceedings, or disclosures necessary
to protect the security of our financial records.
Please choose one of the links below, or scroll down to read the
entire policy.
1. Information that
we collect about you
2. Information about you that we disclose to
others
3. Parties to whom we disclose this information
4. Disclosure of information to parties to
make additional financial services available to our members
5. Promotional offers we share with you
6. How we protect your information
7. How to opt out of certain disclosures of information
about you
1. Information that we collect about you:
As a financial institution MFCU collects and maintains information
and data about you for several reasons. We have learned that the
more we know about our members, the better we can understand your
unique financial needs and thus provide you with appropriate products
and superior service. For example, if we knew you were a homeowner
in need of financing, we would recommend that you consider a home
equity loan or credit line as an alternative to an installment loan
because of its potential tax benefits for you. We also collect and
analyze member information to spot trends or changes in the ways
our members manage their finances. With this constantly updated
information, we are able to create new products and services or
improve existing ones to give you more effective money management
tools. There are some cases where we gather information to comply
with laws and regulations governing the financial industry. For
example, we are required by federal regulations to obtain a tax
identification number (generally a social security number) for many
of our accounts, including all share, share draft or certificate
accounts that pay interest. Most importantly, we use some of the
data we collect to maintain the security of your account(s) and
to protect the privacy of your financial information. We must be
able to positively identify you and your products and services to
prevent access by unauthorized individuals.
We collect information about you from the following sources:
- Membership application form(s) and other form(s) we use to open
your membership share account.
- Application forms used to open other types of accounts at MFCU,
such as share draft accounts and Individual Retirement Accounts.
- Application forms used to obtain loans, credit cards, checking
cards, or other services from our credit union.
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Information created as a result of you being a member of our
credit union. This includes the account numbers of accounts
you have with us. This also includes information about transactions
that have occurred on these accounts or on credit cards or other
loans you have with us.
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Credit reporting agencies.
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Other sources to verify information that you provide on an
application form. This may be obtained from your current or
past employers, or from other institutions where you conduct
financial transactions.
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2. Information about you that we disclose
to others:
In order to provide you with financial products and services in
a cost-efficient manner, we may disclose information about you to
others (described further under "Parties to whom we disclose
the information). The following are the sources of this information,
along with some examples of the content of the information:
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Financial information supplies on application forms, such as
income and assets.
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Other identifying information about you, such as name, age,
address, telephone number, social security number, and employment
history.
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Other transaction information, such as account balances, deposits,
withdrawals, ATM activity, payment history, and credit card
usage.
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Information from credit reports, such as credit history and
other indications of creditworthiness.
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3. Parties to whom we disclose the information:
We may disclose information to various outside parties. Generally,
we share this information in order to complete transactions on your
behalf or as required by law. The following are types of businesses
they parties are engaged in, along with some example of the businesses:
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Other providers of financial products and services with which
we have a credit union relationship, such as those that provide
mortgage, appraisal, credit card, student loan, and insurance
services.
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Parties that collect information on loans, such as credit bureaus.
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Providers of item processing and statement preparation services.
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Parties that process transactions performed on your behalf,
such as ATM/Checking card, VISA, and Bill Pay transactions,
as well as check printing.
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4. Disclosure of information to parties
to make additional financial services available to our members:
Missoula Federal Credit Union strives to be your trusted source
for financial services. There are, however, specific financial services
we cannot directly provide you, such as brokerage, financial planning
and insurance services. In an effort to make these types of opportunities
available to you at reasonable rates, we have partnered with companies
we trust and deem worthy of your patronage. (As described below
under “How we protect your information” we have policies in place
to protect the confidentiality of information that is disclosed.)
We will, from time to time, share member information with these
partners to offer products and services tailored to your specific
needs. They types of information we share include:
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Identifying information about you, such as name and address.
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Demographic information such as age, income, and household
size.
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Product usage information such as length of membership, product
mix, and product usage data.
This information helps target ‘best fit’ product offerings for
your particular situation to ensure you receive appropriate information.
We want to assure you that we carefully monitor and limit the use
and collection of member information to only what is necessary to
conduct our business, provide superior service and offer opportunities
we think you might find useful. You have our promise to use your
information only in accordance with the principles outlined in this
policy.
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5. Promotional offers that we share
with you:
If we have a promotional offer or product which we think would be
of interest to you, we may let you know by mail or by phone and
sometimes with the help of a third party communication company.
In all cases, we only work with approved vendors who meet our security
and privacy concerns and who agree, in writing, to hold all member
information confidential and to allow us to check their adherence
to our strict standards.
Many members find these special offers helpful, as they are informative
and sometimes communicate special pricing. However, if you would
prefer not to receive any offers at all, you may opt out of them
by following the opt out procedures described in the Opt-Out Form.
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6. How we protect your information:
Only our employees or other authorized individuals will have access
to information about you and only to the extent that they have need
for the information. We prohibit our employees or other individuals
from giving this information to anyone else in a manner that would
violate the law or our privacy policy. We do not provide information
about you to anyone else unless we first verify who they are and
assure ourselves that they have the legal right to obtain the information.
We regularly train our employees to ensure that your information
is protected.
We also have safeguards in place to protect this information against
natural disasters, hazards or threats. With regard to transactions
that take place on the Internet, we have additional security devices
in place to ensure the accuracy, integrity and confidentiality of
the information.
We are committed to maintaining complete and accurate information
about our members, and we employ reasonable measures to ensure the
accuracy, timeliness and thoroughness of this information. If you
think any information we have about you or your account(s) may be
incorrect, please notify us immediately. We will take prompt action
to make the appropriate corrections and to notify anyone with whom
we may have shared inaccurate information.
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7. How to opt out of certain disclosures
of information about you:
You may opt out of certain disclosures of information about you
that is described in this notice. These opt out rights do not apply
to disclosures of information to parties that are affiliated with
our credit union. The opt out rights also do not apply to disclosures
of information for certain other specific purposes, such as:
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Information to process transactions on your behalf, such as
check printing.
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Information that is disclosed with your consent.
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Disclosures necessary to protect the security of our financial
records.
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Disclosures required by legal actions or subpoenas.
You may opt out of the disclosures described in Section Four and/or
Seven at any time. If you wish to opt out, please complete the form
below. Once we receive your request, we have a reasonable amount
of time to stop the disclosures. You may always contact
us for assistance if you wish to later revoke your opt out election.
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