CHELSEA STATE BANK
CUSTOMER INFORMATION PRIVACY PRINCIPLES
(Privacy Policy)
A. Mission Statement on Privacy and Confidentiality:
At Chelsea State Bank, our mission is to meet the desires of our customers. As financial services professionals entrusted with sensitive financial information, we respect the privacy of our customers and are committed to treating customer information responsibly. Our Customer Information Privacy Principles serve as standards for all Chelsea State Bank employees for collection, use, retention, and security of individual customer information.
B. Recognition of our Customer’s Expectation of Privacy:
At Chelsea State Bank, we believe the confidentiality and protection of customer information is one of our fundamental responsibilities. And while information is critical to providing quality service, we recognize that one of our most important assets is our customer’s trust. Thus, the safekeeping of customer information is a priority for Chelsea State Bank.
C. Customer Benefits of our Information Management Practices:
Information about consumers is accumulated from a variety of sources. Some information is provided to Chelsea State Bank directly by our customers. Other data is developed by Chelsea State Bank as a function of providing a product or service to a customer. Still other information is obtained from outside sources. We will limit the use and collection of information about our customers to that which is necessary to administer our business, provide superior service, and offer opportunities that we think will be of interest to customers. This means that we will use information to help identify and mitigate potential risks or loss to Chelsea State Bank. We will use information to help us identify additional products or services which we believe customers might want to know about. We will use this information only in accordance with the principles set out in this Policy.
D. Maintenance of Accurate Information:
We continually strive to maintain complete and accurate information about you and your accounts. Should you ever believe that our records contain inaccurate or incomplete information about you, please notify us. We will investigate your concerns and correct any inaccuracies.
E. Limitations to Employee Access to Information:
At Chelsea State Bank, employee access to personally identifiable customer information is limited to those with a business reason to know such information. Employees are educated on the importance of maintaining the confidentiality of customer information and on these Privacy Principles. Because of the importance of these issues, all Chelsea State Bank employees are responsible for maintaining the confidentiality of customer information and employees who
violate these Privacy Principles will be subject to disciplinary measures.
F. Protection of Information via Established Security Procedures:
We safeguard information according to established security standards and procedures, and we continually assess new technology for protecting information. Our employees are trained to understand and comply with these information principles.
G. Restriction on the Disclosure of Account Information:
We do not reveal specific information about your accounts or other personally identifiable data to unaffiliated companies for their independent use unless; 1) you request or authorize it; 2) the
information is provided to help complete a transaction initiated by you; 3) the information is provided to a reputable credit bureau or similar information reporting agency; or 4) the
disclosure otherwise is lawfully permitted or required. We do not provide account or personal information to unaffiliated companies for the purpose of independent telemarketing or direct
mail marketing of any non-financial products or services of those companies.
H. Maintaining Customer Privacy in Business Relationships with Third Parties:
When the Bank conducts business with third parties, it requires its vendors and suppliers to
maintain similar standards of conduct regarding the privacy of personally identifiable customer
information provided to them.
I. Providing Privacy Information to Customers and Responding to Inquiries:
Chelsea State Bank recognizes and respects the privacy expectations of our customers. We want our customers to understand our commitment to privacy in our use of customer information. As
a result of our commitment, we have developed these Privacy Principles which are made readily
available to our customers. Customers who have questions about these Privacy Principles or
have a question about the privacy of their customer information should call Chelsea State Bank
at 734-475-1355 or e-mail us at www.csbonline.com.
Approved: June 11, 2002
