Privacy Policy
Our Consumer Privacy Promise
At Founders Bank & Trust and its subsidiary Founders Mortgage Company, LLC, protecting the privacy and confidentiality of your personal information is important to us. We value our business and the trust you put in our corporate family. To offer you the most valuable and convenient financial products and services, we collect, maintain, and use information about you on a routine basis. We recognize that you have a right to expect that your personal financial information will remain private and secure. Thus, the safekeeping of customer information is a priority for us. To help you better understand how your personal information is used and protected. we are providing you with the following statement describing our policies and practices with respect to the privacy of customer information.
Information We Collect
As your trusted financial institution, we collect, retain, and use nonpublic personal information about individual customers, as allowed by law, to provide products and services to our customers. We collect nonpublic, personal information from the following sources:
- Information we receive from you on applications or other forms and through other means (such as your name, address, phone number, social security number, assets, liabilities and income)
- Information about your transactions with us, our affiliates, or others (such as your account balance, transaction activity, payment history, parties to transactions and credit card usage)
- Information we receive from a consumer reporting agency (such as your creditworthiness or credit history).
Information We Share
We do not disclose any nonpublic personal information about our customers to anyone, except as permitted by law. We limit who receives customer information and what type of information is shared. And we pledge to conduct the sharing of your information in strict adherence to applicable law.
Within our Corporate Family
Our corporate family is made up of a number of financial service providers and non-financial companies (affiliates). The Founders Bank & Trust corporate family includes:
- Banks
- Founders Bank & Trust
- Mortgage Companies
- Founders Mortgage Company, LLC
- Financial Services
- Founders Trust Financial Services, Inc.
These companies work together to provide the products and services you want and need, and we may share all categories of nonpublic personal information we collect (as described previously) with our affiliates to this end. Under the Fair Credit Reporting Act, we may share certain customer transaction and experience information (“experience information”) without restriction. This information comes from our account records and includes such things as your:
- Name
- Address
- Account balances
- Account activity
- Types of accounts
- Deposit history
Unless you tell us otherwise, we also may share other customer information (“non-experience information”) such as:
- Information we receive from you on applications or other forms and through other means (such as your income, social security number, marital status, and age);
- Information we obtain from a consumer report (such as your credit score or credit history);
- Information we obtain to verify representations made by you (such as your open lines of credit); and
- Information we obtain from a person regarding their employment, credit, or other relationship with you (such as your employment history).
By sharing information about you, your accounts and your relationships among our family of companies, we can save you time and money by making it easier for you to do business with us. For example, if you have an account with one of our companies and want to open an account with another of our companies, we may share information so that you might not need to furnish the same information twice. Also, by understanding you and your relationship, we can better meet your needs and determine your eligibility for other products and services that could be of value to you.
With Companies that Work For or With Us
We may share all categories of nonpublic personal information we collect (as previously described) with companies that work for us to provide you products and services that you’ve requested or already have with us. These companies may include financial service providers such as insurance companies and payment processing companies, and non-financial companies such as check printing and data processing companies. We may also share all categories of nonpublic personal information we collect (as previously described) with companies that work for or with us to provide marketing and other services on our behalf or other financial institutions with whom we have joint marketing arrangements.
All of these companies work on our behalf or with our sponsorship. They are contractually obligated to keep the information that we provide to them confidential and to use the information only to provide the service we’ve asked them to perform for you and us.
With Outside Parties in Other Situations
We may also disclose all categories of nonpublic personal information we collect (as previously described) to government agencies, consumer reporting agencies, and other outside parties as permitted or required by applicable laws and regulations. These disclosures are made for specific, limited purposes, such as to protect your information and accounts, to manage risk, in connection with a legal process, to make certain information a matter of public record, for the sale of your account to another financial institution, and in connection with audits and examinations.
Honoring Your Preferences
We are committed to protection of customer information and to using or sharing it in ways that will improve or expand upon the services we provide to you. We also want you to know that we will uphold our lawful rights regarding how your customer information may be shared.
As previously described, we may share “non-experience” information about you with certain corporate family members. This information makes it easier for you to do business with us and helps us meet your financial needs by offering the right products and services to you. If you prefer that we do not share this information with companies in our corporate family, you may “opt out” of this type of sharing. Simply notify us of your preference.
Information of Former or Inactive Customers
Our policies and practices regarding the collection, use, and disclosure of information about former and inactive customers are the same as those for existing, active customers. Our information about former customers, however, is used less and less over time and is eventually removed from our records.
Protecting Your Information
We understand that the protection of your nonpublic personal information is of the utmost importance and that guarding your privacy is our obligation. We restrict employee access to customer information to only those employees who have a business reason to know such information in the course of providing products or services to you. We also educate our employees about the importance of confidentiality and customer privacy, and we require their commitment to this principle. In addition, we maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information. We protect the physical security of workplaces and records, maintain backup copies of customer data, use computer virus detection and eradication software, and employ hardware, software, and other technical means to guard against unauthorized entry into our computer systems.
Ensuring Information Accuracy
We continually strive to maintain complete and accurate information about you and your accounts. We have established procedures to ensure that your financial information is accurate, current and complete, in keeping with reasonable commercial standards. Should you ever believe that our records contain inaccurate or incomplete information about you, please notify us. We will promptly investigate your concerns and correct any inaccuracies.
Online Privacy and Security
Our commitment to your privacy extends to all areas of operations, including our Internet activities. This privacy policy is also available for review when you visit Founders Bank & Trust online at www.foundersbt.com.
We reserve the right to change our privacy policy at any time. A revised policy statement will only apply to data collected subsequent to its effective date. Current effective date is January 1, 2005.
Customer Identification Program
(Effective September 2003)
To help our government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.
When you open an account, we will ask for your Name, Address, Date of Birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
