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Laneco Federal Credit Union collects nonpublic personal information about it's members in a variety of ways. This information may be shared with affiliated and non-affiliated third parties from time to time but under certain guidelines and restrictions.
We are committed to providing our member with competitive products and services to meet their financial needs, which necessitates that we share information about them to complete transactions and to provide certain financial opportunities. In order to provide these services, we have entered into agreements with our vendors that provide either services to us or additional financial products to our members. Under these agreements, we may disclose all of the information we collect which is detailed in this policy, to companies that perform marketing or other services on our behalf or to other financial institutions with whom we have joint marketing agreements.
Protecting our members' privacy is a priority for Laneco Federal Credit Union and therefore, we only work with companies that agree to maintain strong confidentiality protections and limit the use of information we may provide. We do not permit these companies to sell to other third parties the information we provide to them.
This policy provides details on the types of information collected and shared and the safeguards taken to protect our members' personal information at all times.
INFORMATION COLLECTED:
 Information we receive on membership and loan applications and other forms;
Information from transactions performed with us;
Information received from a consumer reporting agency
Information obtained when verifying the information provided on an application or other
Form such as information from current and past employers or from other institutions where
Members conduct financial transactions.
INFORMATION SHARED:
Information we receive on membership and loan applications and other forms;
Information from transactions performed with us;
Information received from a consumer reporting agency;
Information obtained when verifying the information provided on an application or other form such as current and past employers or other institutions where you conduct financial transactions;
Any information not detailed above as permitted or required by law.
WHO WE MAY PROVIDE INFORMATION TO:
Data Processors
Check Printers
IRS
Examiners
State Data Matching Program
Statement Processors
Collection Agents
Credit Bureau
Auditors
Financial Institutions
Insurance Companies
Financial Advisor
Marketing Firms
Any other entity as required by law
FORMER MEMBER INFORMATION
Laneco Federal Credit Union will not share information for members who have terminated their membership except as permitted or required by law.
PROTECTION OF INFORMATION
Laneco Federal Credit Union restricts access to nonpublic personal information of its members to those employees who have a specific business purpose in utilizing the data. Our employees are trained in the importance of maintaining confidentiality and member privacy. We maintain physical, electronic and procedural safeguards that comply with federal regulations and leading industry practices to safeguard nonpublic personal information of our members.
SUMMARY
Laneco Federal Credit is owned by its members and governed by a board of directors which are elected by its members. Members should be confident that their financial privacy is a top priority of the credit union. The credit union is required by law to provide notice to explain how we collect, use and safeguard the personal financial information of our members. This notice is provided in a document entitled "Privacy Notice and Disclosure."
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