NORTHEAST SECURITY BANK 

Sumner / Fredericksburg / Decorah / Fairbank 

 

PRIVACY POLICY 

 

Northeast Security Bank recognizes and respects our responsibility to protect our customers’ private information.  The success of a financial institution like ours depends heavily on the level of trust and confidence it enjoys with its depositors and shareholders.  In continuing our commitment to provide quality service to our customers, Northeast Security Bank has adopted the following privacy policy.  This privacy policy applies to individuals and Northeast Security Bank reserves the right to amend it at any time.  If your relationship with Northeast Security Bank changes and/or is terminated, we will continue to adhere to the privacy practices described in this policy. 

 

Our Collection, Use and Retention of Customer Information  

We collect, use and retain information about our customers only where we reasonably believe it would be useful in administering our business, and providing products, services, and other opportunities to our customers.  We collect and retain information only for specific business purposes – and will tell you why we are collecting and retaining it upon your request.  We use information to protect and administer our customers’ records, accounts, and funds; to comply with certain laws and regulations; to help design or improve our products and services; and to understand your financial needs to help us provide you with quality products and outstanding service.  Nonpublic personal information is nonpublic information about you that we obtain in connection with providing a financial product or service to you.  For example, nonpublic personal information includes information regarding your account balance, payment history, etc.  We may collect nonpublic personal information about you from the following sources: 

 

• Information we receive from you on applications or other loan and account forms; 

• Information about your transactions with us, our affiliates or others; and 

• Information we receive from third parties such as credit bureaus. 

 

Disclosure of Customer Information 

We are permitted under law to disclose specific information about your accounts or other personally identifiable data to either affiliated or non-affiliated third parties in the following circumstances: 

 

• When you have requested or authorized it; 

• When the information is provided to help complete a transaction initiated by you; 

• When the information is provided to a reputable credit bureau or similar credit reporting agency; 

• When the disclosure is lawfully permitted or required (for instance, in accordance with a court order, or a regulatory examination); 

• When the information is disclosed to either affiliated or non-affiliated third parties to assist us in servicing your loan or account with us; 

• When the information is disclosed to our affiliates and the information is about our experiences or transactions with you or your accounts; and 

• In any other circumstance permitted or required by law. 

 

Information We Disclosure for Joint Marketing Purposes 

We may disclose all of the information we collect, as described above, to companies that perform marketing services on behalf or to other financial institutions with whom we have joint marketing agreements.   

 

Safeguarding the Security of Customer Information 

We maintain physical, electronic, and procedural information safeguards that comply with federal standards to protect nonpublic personal information.  We continually evaluate and assess new technology for protecting information. 

 

Limited Employee Access to Information 

We have procedures and security levels that limit employee access to personally identifiable information to those with a business reason to know such information.  The importance of confidentiality and customer privacy is addressed with utmost seriousness.  Appropriate disciplinary measures are taken to enforce employee privacy responsibilities.  

 

Maintenance of Accurate Information  

We have implemented procedures to ensure that our customers’ financial information is accurate, current, and complete in accordance with commercial standards and federal law.  We also have procedures for responding to requests to correct inaccurate information in a timely manner, and to update information and remove non-current information.  Customers should notify us immediately at (563) 578-3251/ PO Box 269, Sumner, IA 50674-0269 if they believe our records contain inaccurate or incomplete information. 

 

Our Privacy Policy and You 

If you have questions about this policy or concerns about the privacy of your information, please contact us at (563) 578-3251.