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Privacy Policy
Your Consumer Privacy Commitment From The State Bank of Delano
Protecting your privacy is very important to everyone at the State Bank of Delano. We want you to understand what information we collect and how we use it. In striving to be your financial partner, we use technology to deliver products and services, as well as to manage and maintain your information. Earning your trust is our greatest asset. Therefore, we promise to protect the privacy of your personal information. We will not disclose any of your personal information to nonaffiliated third parties.
WHAT INFORMATION WE COLLECT
In order to serve you, we collect nonpublic personal information about you from the following sources:- Information we receive from you on applications, other loan or account forms, and through electronic delivery systems;
- Information from your transactions with us and others; and
- Information we receive from a consumer reporting agency.
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WHAT INFORMATION WE DISCLOSE
We do NOT disclose any nonpublic personal information about our customers or former customers to anyone, except as permitted by law, such as:- At your request, or to complete your transactions, including sharing information with third parties we engage to help deliver our service to you;
- With credit bureaus and others who ask for credit references in accordance with customary business practices; and
- Information that we disclose as a banking organization (e.g., to service providers, processors, regulatory agencies, bank auditors and government requests, such as subpoenas.)
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YOUR MEDICAL INFORMATION
We do not share your medical or health information with anyone except to process transactions or to provide services you have requested or initiated.
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SERVICE PROVIDERS AND JOINT MARKETERS
When we conduct business with third parties, we require vendors and suppliers to maintain similar standards of conduct regarding the privacy of personally identifiable customer information provided to them. We disclose the following information to service providers and joint marketers as permitted by law:- Information we receive from you on applications or other forms, such as your name, address, social security number, assets, and income;
- Information about your transactions with us or others, such as your account balance and payment history; and
- Information we receive from a consumer reporting agency, such as your creditworthiness and credit history.
We will not share your information with any service provider or joint marketer unless they agree to keep your information confidential. To further protect your information in these instances, we require service providers and joint marketers to sign a contract with us stating that your information will not be shared outside of their relationship with the State Bank of Delano.
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THE CONFIDENTIALITY, SECURITY, AND INTEGRITY OF YOUR NONPUBLIC PERSONAL INFORMATION
At the State Bank of Delano, use of personally identifiable customer information is limited to those employees with a business reason to know such information. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information. State Bank of Delano employees are educated on the importance of maintaining the confidentiality of customer information. Employees who do not maintain our privacy standards will be subject to disciplinary measures.
We require our employees to protect the privacy of your nonpublic personal information regardless of the medium used to obtain this information. When you enroll in online banking or apply online for products and services, you will be asked to provide personal information. We will retain the information you provide online as well as the content of all electronic mail, including your email address, in order to respond to your inquiry. However, we will not disclose any nonpublic personal information we obtain through electronic delivery systems to nonaffiliated third parties, unless permitted or required by law.
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YOUR TRUST IS OUR GREATEST ASSET
We continually strive to maintain complete and accurate information about you and your accounts. Should you discover that our records contain inaccurate information, please notify us immediately at (763) 972-2935. We will investigate your concerns and correct any inaccuracies.
We are committed to respect your privacy and protect the information you give to us. Your trust in the State Bank of Delano and all of our employees is very important. We will protect your privacy and adhere to our policy of not sharing your personal information with nonaffiliated third parties. We reserve the right to revise our privacy policy. However, we will promptly notify you of any changes.
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Frequently Asked Questions
Q: Why did I get an opt out form from my other bank and not from The State Bank of Delano?
A: Protecting your privacy is very important to The State Bank of Delano. Because we do not share your personal information with anyone, except as permitted by law, there is nothing to opt out of.
Q: What kind of information do you collect?
A: The kind of information we collect depends upon your financial needs and the products and services you request. For example, when you apply for a loan or open an account with us, we need information about your financial status – such as your place of employment, income, monthly expenses and personal assets and debts outstanding – to process your requests. In addition, in order to make your banking as convenient and efficient as possible, we maintain information about your transactions with us, your account balance, and repayment history.
Q: How do you obtain the information?
A: Much of our information comes directly from you when you fill out a loan application, account application, enroll in on-line banking, or apply for on-line products or services. We also obtain information from credit bureaus and other creditors regarding your credit and repayment history.
Q: Who has access to customer information?
A: We have strict internal policies against unauthorized use or disclosure of customer information. Customer information is accessible only to employees who need it to conduct your financial affairs. We emphasize the importance of confidentiality through our code of conduct, employee training, and privacy policy. We require the businesses with which we have a relationship to maintain the confidentiality of consumer information. We carefully select the companies we work with and have them sign a strict confidentiality agreement.
Q: Why do you need this information?
A: We maintain information and data about you to maintain the security of your accounts and to protect you and the entire institution against fraud. We need clear and accurate information to be able to positively identify you and authenticate your transaction in order to prevent access to your accounts by unauthorized individuals.
We are also required by laws and regulations to gather certain information. For example, we are required by federal regulation to obtain a tax identification number (generally a social security number) for many of our accounts, including all savings, checking or investment accounts that pay interest.
Q: What do I do if I see any inaccurate information in my statements?
A: We work hard to assure that your information is current, accurate, and as complete as possible. If you see any inaccuracy in your statements or in any other communications from us, please notify us immediately at 763-972-2935. We will investigate your concerns and correct any inaccuracies in a timely manner.
Q: Are there any regulations on disclosure of account information?
A: Yes. In some cases, such as a fraud investigation or in response to a valid search warrant or subpoena, we may be required by law to provide certain information to law enforcement agencies. There are also laws and regulations that affect the sharing of information with service providers (such as check printers and data processors).
Q: Will my medical records be shared with anyone outside of The State Bank of Delano?
A: No. We recognize that when consumers provide medical information for a specific purpose, they do not wish it to be used for other purposes, such as making a credit decision. If a customer provides personal medical information, we will use it only for the purpose for which it is intended.
Q: Do you share information with outside (third-party) companies?
A: We do NOT share your information with anyone, except as permitted by law. We use third parties to help us process your financial transactions and to provide you with a full range of financial products and services. For example, we use third parties to print your checks and to process your account transactions. In addition, we share information with credit bureaus and others who ask for credit references in accordance with customary business practices. We also disclose information as a banking organization to regulatory agencies, bank auditors and government requests, such as subpoenas.
Q: Will third parties keep my information confidential?
A: We will not share customer information with any company that does not agree to keep your information confidential. We carefully select the third-party companies we work with and any information that is shared is always subject to a strict confidentiality agreement.
Q: If The State Bank of Delano doesn't share information with third parties, why did I get a solicitation from a credit card company called MBNA?
A: Our goal is to provide you with as many banking services as possible. We have contracted with another financial institution, Maryland Bank National Association, in order to provide you with credit card services. Because MBNA is another financial institution, they must comply with the same privacy regulations as The State Bank of Delano. To further protect your information, we require all service providers and joint marketers to sign a contract with us stating that your information will not be shared outside of their relationship with The State Bank of Delano.
Q: Why did I receive a solicitation from a funding corporation offering me a cash advance based on the appraised value of my home?
A: These companies are not affiliated with, associated with, or endorsed by The State Bank of Delano. They do, however, mention our name in their letters, which is why it looks like The State Bank of Delano shared information with them. These companies are getting our customer's information from public records at courthouses. They are able to pull information by looking at Deeds of Trust, which contain such information as the name of the financial institution holding the mortgage (e.g. The State Bank of Delano).
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More Privacy Information
For more information about how the government is working
to protect your privacy please check out the Federal Trade Commission
site at www.ftc.gov
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For comments & questions contact info@delanobank.com.
Copyright © State Bank of Delano. All rights reserved. Privacy Statement
1300 Babcock Blvd | P.O. Box 530 | Delano, MN 55328
763-972-2935 | 1-888-820-2027
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