PRIVACY POLICY 

GraCo Federal Credit Union will fully comply with the provisions of both the Gramm-Leach-Bliley Act and the NCUA Privacy Regulations. In doing so, GraCo Federal Credit Union has prepared a privacy policy, will provide privacy disclosures, and, where required, give members the opportunity to opt-out of certain disclosures. 

Information collected and how it is used: 
 Information Collected -GraCo FCU will collect information necessary to provide our members products and services, or as required by law. GraCo FCU collects information about members and their account(s) from the following sources:

  • from member applications (loans, accounts, services, etc.) or other forms; 
  • member transaction(s) with the credit union, our affiliates, or others; and/or 
  • information we receive from a consumer reporting agency.

Former Member Information GraCo FCU will not share information about members who have terminated their relationship with the credit union, unless permitted or required by law to do so.
Annual privacy notices will no longer be sent to those who have terminated their relationship with GraCo FCU. 

Information Disclosed to Third Parties Member information is not shared with non-affiliated third parties. GraCo FCU does not share member information with non-affiliated third parties unless authorized or permitted by law. If GraCo FCU shares information in the future that requires an opt -out form to be sent to members, one will be provided. 

GraCo FCU reserves the right to share confidential member information with attorneys, accountants, auditors, consumer reporting agencies, and, to the extent permitted by the law, to law enforcement agencies and other official bodies without triggering a right for members to receive an opt -out form. 

Contracts with affiliates Under both the Gramm-Leach-Bliley Act and NCUA Privacy regulations, GraCo FCU may share member information with affiliates of GraCo FCU. The term "affiliate" means "any company that controls, is controlled by, or is under common control with another company.  However, GraCo FCU has provided in its contracts with these affiliates that member information will be kept confidential. 

Fair Credit Reporting Act GraCo FCU reserves the right to share information about the creditworthiness related to GraCo FCU's transactions or experiences with members without triggering a right for such members to receive a disclosure and an opt-out form. 

Safeguarding Member Information 
  Credit Union Security -GraCo FCU will maintain security measures consistent with the requirements of federal and state regulations, including risk management systems designed to prevent unauthorized access, both internal and external, to member information. 

GraCo FCU has procedures in place to protect member information systems in the event of a natural disaster, intentional destruction, or technical failure. 

GraCo FCU regularly tests the efficacy of its member information systems to ensure proper working order. These tests may be conducted by independent third parties or staff independent of those that have developed or maintained our security programs. 

GraCo FCU restricts access to areas that contain member information. 

Credit Union Employees and Officials -GraCo FCU employees with access to member information will receive a copy of GraCo FCU's privacy policy, and will be notified of the importance of maintaining the confidentiality of member information.

GraCo FCU has established procedures to eliminate internal and external unauthorized access to member information. 

GraCo FCU's employees will be informed of and will have access to information regarding the proper procedures for filing reports to the appropriate regulatory and law enforcement agencies. GraCo FCU may conduct background checks on its employees to ensure compliance with our security program. GraCo FCU thoroughly investigates any allegations of employee misconduct. 

GraCo FCU limits access to sensitive information to specific employees to ensure confidentiality of member information. 

Individuals other than credit union employees,  including board members and volunteers, may have limited access to member information. GraCo FCU has established confidentiality controls in order to protect improper access to, and distribution of, member information. 

Third Party Vendors GraCo FCU has contracted with service providers to install and/or maintain our member information system, to process our Visa credit and debit cards, to process our A TM transactions, and to track the insurance policies required for collateralized loans. GraCo FCU has  exercised due diligence in selecting our service providers to ensure that proper security measures are in place to protect member information. GraCo FCU may regularly monitor service providers to ensure that they continue to satisfy their obligations. 

Protection of Member Account Numbers 
GraCo FCU will only share account numbers or access codes as authorized or required by law. 

Joint Marketing Agreements GraCo FCU may enter into joint marketing agreements to provide member information to non-affiliated third parties to perform services for the credit union or functions on behalf of the credit union.

 GraCo FCU includes language in these joint marketing agreements prohibiting non-affiliated third parties from using or disclosing member information for purposes other than in the ordinary course of business to carry out the purposes for which the information was provided. Contact GraCo FCU with questions at 989-463-1247 or Toll Free at 866-463-1247 or visit our office located at 305 W. Downie in Alma.

 


Privacy Policy