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Privacy Statement
The Directors, management and staff of Security State Bank are concerned about and respect the privacy our customer's personal financial information. We understand that our customers furnish sensitive information to us in the course of our daily business and we are committed to treating such information responsibly. We know that our customers expect privacy and security for their personal and financial affairs.
Security State Bank will take necessary steps to safeguard sensitive information that has been entrusted to us by our customers. The following privacy policy and disclosure outlines our bank's practice regarding personally identifiable financial information for consumers, consumers who become our customers, and former customers.
TYPES OF INFORMATION WE COLLECT
At Security State Bank we collect nonpublic personal information from many sources. Nonpublic personal information does not include that which is available from government records, widely distributed media, or government-mandated disclosures
We collect nonpublic personal information about you from the following sources:
- Information we receive from our customers on applications or other forms;
- Information about transactions with us, our affiliates, or others; and
- Information we receive from a consumer reporting agency
TYPES OF INFORMATION WE DISCLOSE
Security State Bank does not now, nor does it intend in the future to disclose any personal financial information to any nonaffiliated third party. By law we may disclose certain personally identifiable information without allowing consumers the right to opt-out of the sharing agreement in the following circumstances:
- To companies who perform transaction processing for our bank in the
following circumstances:
- If the transaction, service, or product is requested or authorized by our customer
- To maintain or service your account as part of a private label credit card or other loan extension program
- In connection with a securitization, secondary market sale, (including servicing rights), or similar transaction related to a consumer
- Disclosures that are necessary to enforce our bank's legal or contractual rights or any other person's rights who is engaged in the financial transaction
- Disclosures required in the ordinary course of banking business, such as settlement of claims or benefits, providing confirmation of information to the consumer or his agent, and to bill, process or clear items in the normal course of business.
- To provide information to insurance rate advisory organizations, guaranty funds, or agencies, agencies that are rating the bank, persons that are assessing the bank's compliance with industry standards, and the bank's attorneys, accountants and auditors.
- To the extent permissible under the Right to Financial Privacy Act.
- To a consumer reporting agency under the Fair Credit Reporting Act.
- To comply with Federal, State or local laws, rules and other applicable legal requirements.
SAFEGUARDING CUSTOMER INFORMATION
At Security State Bank we protect consumer privacy by ensuring that only employees who have a business reason for knowing information have access to it. We have appointed a Financial Privacy Coordinator, Jeffrey P. Running, who is responsible for maintaining internal procedures to ensure our customer's information is protected.
All of our employees have a copy of this policy and are trained regarding the importance of safeguarding customer information. The Financial Privacy Coordinator, Jeff Running and the appropriate department manager will take disciplinary action against any employee who violates our privacy policy and procedures.
If we change our policy or practice by, for example, adding a category of information we will disclose to a third party, we will notify existing customers and give them an appropriate time period to opt-out of the disclosure.
E-Mail: Aitkin.ssb@charterinternet.net
402 Minnesota Avenue N
Aitkin MN 56431
Phone: 218.927.3765
Security State Bank is a FDIC member and an Equal Housing Lender.