First National Bank of Walker (the "Bank") is implementing this privacy
policy because a fundamental component of the bank/customer relationship
is a customer´s trust in this institution and because we respect the
expectations of our customers regarding privacy and confidentiality.
Protecting your privacy, along with your financial assets, is at the
core of our business. You have chosen to do business with us, and
we recognize our obligation to limit access to the information you
provide us.
This policy
has been adopted by the Bank´s board of directors as of the 3/21/01
board meeting. Bank management reviewed a variety of issuances from
federal banking agencies, as well as the U.S. Banking Industry Privacy
Principles, and carefully considered the policy in light of the
bank´s particular needs, including the bank´s size, bank´s involvement
with third parties, and the needs of our customers.
COLLECTION
AND USE OF INFORMATION
The Bank
collects, retains and uses information about customers only when
it is useful and lawful for our standard business purposes, when
we believe it is allowed by law, reasonably useful in administering
our business and providing products, services and other opportunities
to our customers. Our "business" referred to in the preceding sentence
includes opening and maintaining accounts or providing loans, investment
accounts, insurance coverage or providing additional financial products
or services advising you of new products or services.
MAINTENANCE
OF ACCURATE INFORMATION
Keeping your account information accurate and up to date is very
important. If you ever find that your account information is incomplete,
inaccurate or not current, please call (218-547-1160) or write us
at: First National Bank of Walker, PO Box 520, Walker, MN 56484
or any of our branch locations. We will correct any erroneous information.
EMPLOYEE
ACCESS TO INFORMATION AND ENFORCEMENT
Bank limits
employee access to customer personal information to only those bank
administrators with a business reason for knowing such information.
Bank also educates all employees about the importance of confidentiality
and customer privacy. All Bank employees are required to sign a
confidentiality statement when they are hired. In addition, to insure
that employees understand the importance of this issue to our customer,
the bank also conducts annual training sessions regarding privacy
and confidentiality.
SAFEGUARDING
THE SECURITY OF CUSTOMER INFORMATION
The Bank maintains physical, electronic and procedural safeguards
that comply with federal standards and regulations to guard your
information.
RESTRICTION
ON DISCLOSURES OF ACCOUNT INFORMATION
The Bank will disclose information to third parties about your credit,
your accounts, and your transactions under any one of the following
conditions:
-
When
it is necessary for completing a transaction initiated by you.
-
To
verify the existence and conditions of the account or loan for
reputable information reporting agencies.
-
In
order to comply with a government agency directive, court order,
or regulatory examination.
-
When
you give the bank permission.
-
When
it is consistent with your agreement or contract with the Bank.
-
In
order to protect you, your interests, the interests of the Bank,
or if we suspect fraud or illegal activity.
MAINTAINING
CUSTOMER PRIVACY IN BUSINESS RELATIONSHIPS WITH THIRD PARTIES
The Bank follows strict privacy procedures in regard to customer
information and will take the necessary steps to ensure protection
of customer information. Except as otherwise stated in this policy,
the Bank will not sell or share customer information with third
parties. In some cases it may be necessary to share information
with third party business partners. This may be necessary to provide
you with requested products or services. The Bank requires all third
parties with a business need to access personal information to adhere
to similar and equally stringent privacy policies. If the Bank uses
a third party business partner, service company, or other business
partner to prepare account documentation, service accounts, or for
other purposes, we will make reasonable efforts to verify the business
partner treats customer information in a manner no less stringent
than the Bank. All new third party businesses that require non-public
personal information on our customers or former customers will be
required to meet our privacy requirements before the Bank will engage
in business activities.
DISCLOSURE
OF PRIVACY PRINCIPLES
It is the policy of the Bank to communicate our privacy policy to
our customers. We will periodically review the methods available for
communicating the Bank´s privacy policy and determine whether the
Bank´s current practices are meeting the needs of the Bank and our
customers. The bank will send out their privacy disclosure to all
customers of the Bank on an annual basis. In addition, the Bank will
give a copy of the privacy disclosure to all new customers of the
Bank.
COMPLIANCE
On an ongoing basis the Bank will perform an internal assessment to
ensure the privacy policy is in compliance and is being followed
