Your Right to Financial Privacy
Use of Terms: "Nonpublic personal information" refers to any personally identifiable information that SoAFCU obtains about you in the course of providing services to you. "You and your" refers to current members, former members, or someone who may have applied for a loan but was declined.
Spirit of Alaska Federal Credit Union collects personal information from the following sources:
- Information we receive from you on applications or other forms. Information about your transactions with us or others. Information we receive from consumer reporting agencies such as credit bureaus and agencies involved in fraud prevention and credit abuse. Third parties used to verify information that you provide to us, such as employers or other creditors.
- Third parties with whom we have arrangements to provide services to you such as financial institutions whose ATMs you use, merchants who accept your SoAFCU credit or debit card, or mortgage lender/investors who may purchase or service your mortgage loan.
Disclosure of Personal Information:
We may disclose nonpublic personal information about you under the following general conditions:
- To the extent necessary to provide the services that you request.
- As required by our external auditors, legal advisors, insurers and regulatory agencies such as the National Credit Union Administration (NCUA).
- When we are required by law such as under a court order, levy, subpoena or by any other validly issued legal process.
- To third parties which are integral in providing services to you such as credit bureaus, check printers, credit life and disability insurance providers, collateral appraisers, plastic card processors, the Federal Reserve and other financial institutions that process your checks, automated clearinghouse (ACH) transactions and ATM transactions.
- When we have your permission to do so.
- We may report information about your account to the credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report.
If you decide to terminate your membership or become an inactive member; we will adhere to the privacy policies and practices as described in this notice. SoAFCU restricts access to your personal and account information to those employees who need to know that information to provide products and services to you.
Maintenance and Security of Your Information: SoAFCU maintains physical, electronic and procedural safeguards that comply with federal regulations to guard your nonpublic personal information. We rely on industry standard 128-bit SSL (Secure Sockets Layer) encryption to protect all information exchanged between SoAFCU and its membership via E-teller or other Internet services. However, e-mail between the credit union and members used to answer questions, follow up on suggestions or to improve the level of service provided is not secure and is subject to interception by unauthorized individuals. Members may communicate sensitive or personal information by mail or other means. We systematically review measures taken to safeguard your personal information. These reviews may result in updating informational security practices and internal control systems. Spirit of Alaska Federal Credit Union will exercise reasonable procedures to assure the accuracy of member records and your personal information. Inaccurate information, when brought to our attention, will be corrected promptly. (Last update 3-07)