Merchants Bank Privacy Policy Notice

 

FACTS

WHAT DOES MERCHANTS BANK & MERCHANTS TRUST COMPANY DO WITH YOUR PERSONAL INFORMATION?

Why?

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.

What?

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 credit history
  • Payment history and transaction history
  • Wire transfer instructions

When you are no longer our customer, we continue to share your information as described in this notice.

How?

All financial companies need to share non public personal information to run their everyday business. In the section below, we list the reasons financial companies can share their non public personal information; the reasons Merchants Bank & Merchants Trust Company choose to share; and whether you can limit this sharing.

Reasons we can share your personal information Does Merchants Bank share? Can you limit this sharing?

For our everyday business purposes – Such as to process your transaction, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus

Yes No

For our marketing purposes – To offer our products and services to you

Yes No

For joint marketing with other financial companies

No N/A

For our affiliates’ everyday business purposes – Information about your transactions and experiences

N/A N/A

For our affiliates’ everyday business purposes – Information about your creditworthiness

N/A N/A

For our affiliates to market to you

N/A N/A

For nonaffiliates to market to you

No N/A

Questions?

Call 800-322-5222.

Who we are

Who is providing this notice?

Merchants Bank and Merchants Trust Company

What we do

How does Merchants Bank & Merchants Trust Company 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 Merchants Bank & Merchants Trust Company collect my personal information?

We collect your personal information, for example, when you

  • open an account or apply for a loan
  • open a trust relationship, or use your debit card
  • apply for financing

We also collect your personal information from others, such as credit bureaus or when verifying information you provide to us.

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.

Definitions

Affiliates

Companies related by common ownership or control. They can be financial and nonfinancial companies.

  • None

Nonaffiliates

Companies not related by common ownership or control. They can be financial and nonfinancial companies.

  • None

Joint marketing

A formal agreement between nonaffiliated financial companies that together market financial products or services to you.

  • Merchants Bank & Merchants Trust have no such agreements.

Other important information

CREDIT BUREAU REPORTING NOTICE

We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report.

CUSTOMER IDENTIFICATION PROGRAM NOTICE IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

To help the 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.

What this means for you: 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.

 

Effective 1/7/14