NOTICE OF YOUR FINANCIAL PRIVACY RIGHTS
The following privacy policy outlines our Bank's practice regarding personally identifiable financial information for Bank customers and consumers. We understand that our customers furnish sensitive information to the Bank in the course of our daily business, and the Bank is committed to treating such information responsibly. We know that our customers expect privacy and security for their personal and financial affairs.
We, our, and us, when used in this notice, mean Merchants Bank of Bangor.
We will tell you the sources of the information we collect about you and what measures we take to secure that information.
We first define some terms.
Nonpublic personal information means information about you that we collect in connection with providing a financial product or service to you. Nonpublic personal information does not include information that is available from public sources, such as telephone directories or government records. Hereafter, we will use the term "information" to mean nonpublic personal information as defined in this section.
An affiliate is a company we own or control, a company that owns or controls us, or a company that is owned or controlled by the same company that owns or controls us. Ownership does not mean complete ownership, but means owning enough to have control.
A nonaffiliated third party is a person we do not employ or a company that is not an affiliate of ours. This is also known as nonaffiliated third party, or simply, an "other party."
We collect nonpublic personal information about you from the following sources:
- Information we receive from you on applications or other forms
- Information about your transactions with us
- Information about your transactions with our affiliates
- Information about your transactions with other parties
- Information we receive from a consumer reporting agency
We do NOT disclose any nonpublic personal information about our customers to anyone, except as permitted by law. Examples of this might include disclosures necessary to service your account or prevent unauthorized transactions.
Legislators who drafted the privacy laws recognized the need for financial institutions to disclose customer information in specific situations to effectively conduct banking business. The laws permit us, in limited situations, to disclose nonpublic personal information with financial service providers, non-financial companies and others. Check printing services are an example of the type of information disclosure permitted by law. To enable Merchants Bank to order checks on behalf of our customers, we may disclose nonpublic personal information such as their name, address and account number with a check printing company. To provide loan coupon books for our customers, we may disclose personal and account information with the coupon printing company. This type of disclosure is permitted by law and necessary to conduct business effectively.
To further protect your privacy, the Bank has entered into written agreements with nonaffiliated third party service providers that require the third party to maintain the confidentiality and security of the information disclosed and not to use such information other than to carry out the purposes for which the bank disclosed such information.
The Bank may disclose the following types of information about current or former customers to service providers:
- Identification information, such as name, address and telephone number
- Deposit or loan account information, such as your account number and account balance
Federal law allows financial institutions to disclose the information listed above with companies that perform services on our behalf. This information is not protected by the opt-out provision as permitted by law.
We ultilize Lehigh Valley Financial Group to assist us in making customers aware of MNB Investment Services products and services. Since few of our customers like getting unwanted mail or telephone calls, we, together with Lehigh Valley Financial Group, try to contact only those customers who are most likely to benefit from the service. To identify these customers, we may use personal customer information.
The Bank may disclose the following types of information about current or former customers to service providers:
- Information we received from you on applications, such as name, address and telephone number
- Deposit or loan account information, such as your account number and account balance
To further protect your privacy, the Bank and Lehigh Valley Financial Group has entered into a written agreement to ensure that the third party maintains the confidentiality and security of the information disclosed and not to use such information other than to carry out the purposes for which the bank disclosed such information.
Federal law allows financial institutions to disclose the information listed above with companies that perform marketing services on our behalf. This information is not protected by the opt-out provision as permitted by law.
The Bank will NOT provide your nonpublic personal information to any nonaffiliated third party for the purpose of their independent telemarketing or direct mail marketing of any non-financial products or services. We do NOT sell customer information to other companies for marketing purposes.
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 standards to guard your nonpublic personal information.
We do not disclose any nonpublic personal information about former customers to anyone, except as permitted by law.
