Facts: What does Peoples State Bank of Madison Lake do with your personal information?
Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
The types of personal information we collect and share depend on the product or service you have with us. This information can include:
• Social Security number and overdraft history
• account balances and payment history
• credit history and transaction history
When you are no longer our customer, we continue to share your information as described in this notice.
All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Peoples State Bank chooses to share; and whether you can limit this sharing.
We do not share your personal information…
... for our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus.
… for our marketing purposes – to offer our products and services to you.
… for joint marketing with other financial companies.
… for our affiliates’ everyday business purposes – information about your transactions and experiences.
… for our affiliates’ everyday business purposes – information about your creditworthiness.
… for our affiliates to market to you
… for nonaffiliates to market to you
How does Peoples State Bank protect my personal information?
To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.
How does Peoples State Bank collect my personal information?
We collect your personal information, for example, when you:
• open an account or deposit money
• pay your bills or apply for a loan
• use your credit or debit card
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.
Why can’t I limit all sharing?
Federal law gives you the right to limit only:
• sharing for affiliates’ everyday business purposes – information about your creditworthiness
• affiliates from using your information to market to you
• sharing for nonaffiliates to market to you
State laws and individual companies may give you additional rights to limit sharing.
Companies related by common ownership or control. They can be financial and nonfinancial companies. Peoples State does not share with our affiliates.
Companies not related by common ownership or control. They can be financial and nonfinancial companies. Peoples State Bank does not share with nonaffiliates so they can market to you.
A formal agreement between nonaffiliated financial companies that together market financial products or services to you. Peoples State Bank doesn’t jointly market.
*NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS
By operation of federal law, effective January 1, 2013, noninterest-bearing transaction accounts no longer will be insured by the FDIC as a separate ownership category. Thereafter, NIBTA deposits at an IDI will be aggregated with any other deposits held by the same person in the same ownership category, with the total insured up to the standard maximum deposit insurance amount, which is currently $250,000.
For more information, visit www.fdic.gov.
Web site and all contents © Copyright PSB Madison Lake 2013, All rights reserved.