Carolina Mountains Credit Union (CMCU) Privacy Policy and Agreement

Privacy of Consumer Financial Information
Carolina Mountains Credit Union (CMCU) shall protect the confidentiality, security and integrity of each member’s nonpublic personal information consistent with state and federal laws. For purposes of this Privacy Policy, a "member" shall include a member of CMCU as defined in the CMCU Bylaws, as well as a "member" as that term is defined in applicable federal regulations promulgated under the Gramm-Leach-Bliley Act (12 CFR §716.1 et seq.) (The "Regulations"). Other terms used herein but not specifically defined in this Privacy Policy shall have the meanings given them in the Regulations.

CMCU shall take careful and reasonable measures to protect the accuracy and privacy of all member information used in conducting its business.

CMCU will collect or maintain information about its members that is essential for prudent business purposes.

Responsibilities
CMCU officers, directors, volunteers, committee members and employees are required to hold in confidence all credit union transactions with members and all information regarding members’ personal business.

It is the responsibility of all officers, directors, volunteers, committee members and employees to protect confidential member information.

It is the responsibility of all officers, directors, volunteers, committee members and employees to identify any potential area of exposure and to take steps to report such discovery and to assist in correcting the condition that could permit any potential security breach.

It is, further, the responsibility of all officers, directors, volunteers, committee members and employees to report any actual or threatened release of confidential information and to take steps as may be immediately available to prevent or halt such release.

Sharing and Collecting Information
CMCU does collect nonpublic personal information about members from the following sources:
Information we receive from members on applications and other forms:

Information about members’ transactions with us or others;

Information received from a consumer reporting agency; and

Information obtained when verifying the information a member provides on an application or other form. This information may be obtained from members’ current or past employers, or from other institutions where a member conducts financial transactions.

CMCU prohibits disclosure of members’ nonpublic personal information to third (other than our affiliates) except:
When such disclosure is necessary to complete transactions requested or authorized by a member.

To verify the existence and condition of a member’s account for a third party (such as a credit bureau) as permitted by law.

To comply with any court order or applicable law or regulations.

When given written permission by a member. Federal law protects the information CMCU provides to credit reporting agencies and its use is strictly governed by the Fair Credit Reporting Act to protect the credit union.

With respect to a non-affiliated third party who proposes to provide services to CMCU only after that service provider has executed a written contract agreeing not to disclose or use the information obtained for any purpose other than fulfilling the services contract.

CMCU does not and will not provide nonpublic personal information about its members to nonaffiliated third parties for any purpose except as permitted by law.

Internet Privacy Protection
CMCU uses multiple levels of security, beginning with the member’s browser and ending with the credit union’s operating system, that together act as a virtual information vault inside the credit union. Information received via online applications is secured within the mail server and passwords are required for access.

CMCU uses "firewalls" that are designed to protect account information from unauthorized access from outside the credit union.

A copy of the CMCU Web site Privacy Statement as displayed on the Home Page is attached hereto as Exhibit 1.

Administration and Amendments
Protecting member privacy is an ongoing process and CMCU will continuously review the measures taken to safeguard member information.

In the event that CMCU intends to disclose nonpublic personal information about its members to a nonaffiliated third party and under present law and regulations CMCU is required to give members an opportunity to "opt out" of such disclosure, CMCU shall send to each member an Opt Out Notice form which shall allow each member to prevent the disclosure of his/her nonpublic personal information.

Since no policy can address every possible contingency and circumstances, CMCU management shall use it good faith business judgment in administering this Privacy Policy, and expects that all officers, directors, volunteer, employees and committee members will use good faith in their actions to protect the privacy of members.

CMCU reserves the right to amend this policy at any time in any respect.

At least once a year, the membership will be notified of CMCU’s Privacy Policy and, if necessary, the procedure to opt out of any disclosure to nonaffiliated third parties. All members will be sent an initial Privacy Notice with the March 2001, quarterly statement, and a notice will be sent at least annually thereafter. A copy of the initial Privacy Notice is attached as Exhibit 2.

 
Opt Out Notice
We may disclose the following information to companies that perform marketing services on our behalf or to other financial institutions with whom we have joint marketing agreements. 
Information we receive from you on applications or other forms, such as your name, address, social security number, assets, and income. 
   Information about your transactions with us, our affiliates, or others, such as your account balance, payment history, parties to transactions,and credit card usage. 
   Information we receive from a consumer-reporting agency, such as your creditworthiness and credit history.
   If you prefer that we not disclose nonpublic personal information about you to nonaffiliated third parties, you may opt out of the disclosures, that is, you may direct us not to make those disclosures (other than disclosures permitted by law). If you wish to opt out of disclosures to nonaffiliated third parties, you may call the following toll-free number:1-800-233-6730.