Facts: What does Community Credit Union do with your personal information?
Financial companies choose how they share your information. Federal law gives members 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 products or services you have with us. This information can include:
Social Security number and income
Account balances and payment history
Credit history and credit score
All financial companies need to share members' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their members' personal information; the reasons Community Credit Union chooses to share; and whether you can limit this sharing.
|Reasons we can share your personal information||Does Community Credit Union share?||Can you limit this sharing?|
|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||Yes||No|
|For our marketing purposes - to offer products and services to you||Yes||No|
|For joint marketing with other financial companies||Yes||Yes|
|For our affiliates' everyday business purposes - information about your transactions and experiences||No||We don’t share|
|For our affiliates' everyday business purposes - information about your creditworthiness||No||We don’t share|
|For non-affiliates to market to you||Yes||Yes|
To limit our sharing
Please note: If you are a new member, we can begin sharing your information 30 days from the date we sent this notice. When you are no longer our member, we continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing.
Who We Are (Who is providing this notice?)
Community Credit Union
What We Do
How does Community Credit Union 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 Community Credit Union 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 non-affiliates to market to you
State laws and individual companies may give you additional rights to limit sharing.
What happens when I limit sharing for an account I hold jointly with someone else?
Your choices will apply to everyone on your account.
Companies related by common ownership or control. They can be financial and non-financial companies.
Community Credit Union has no affiliates.
Companies not related by common ownership or control. They can be financial and non-financial companies.
Non-affiliates we can share with can include insurance companies.
A formal agreement between nonaffiliated financial companies that together market financial products or services to you.
Our joint marketing partners can include insurance companies.
Truth In Savings Disclosure
Except as specifically described, the following disclosures apply to all of the deposit accounts.
The dividend rate and Annual Percentage Yield on your accounts as of the last Dividend Declaration Date are stated on your statement. The total amount of dividends to be paid on an account is based on the dividend rate and the frequency of compounding for a 365-day period of the term of the account. The Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union's Board of Directors.
Nature of Dividends
Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.
Dividend Compounding and Crediting
Dividends will be compounded and credited as stated in your Rate and Fee Schedule. The dividend period for each account is also stated in your Rate and Fee Schedule. The dividend period begins on the first calendar day of each month and ends on the last calendar day of each month.
Accrual of Dividends
Dividends will begin to accrue on cash deposits and non-cash deposits (ex. checks) on the business day the Credit Union receives provisional credit. If you close your account before accrued dividends are credited, accrued dividends may not be paid on all accounts on the day the account is closed.
The minimum balance required to open each account is stated in your Rate and Fee Schedule. Dividends and minimum balances are also calculated using the Average Daily Balance Method. The Average Daily Balance Method is determined by adding the full amount of principal in the account for each day of the period and dividing that figure by the number of days in that period.
The Following Disclosure applies to the Following Account
Money Market Account: If your Average Daily Balance was $2,500.00 - $24,999.99, the dividend rate and annual percentage yield paid on the entire balance is shown on your Rate and Fee Schedule. If your average daily balance was $25,000.00 - $74,999.99, the dividend rate and annual percentage yield paid on the entire balance is shown on your Rate and Fee Schedule. If your average daily balance was $75,000.00 and over, the dividend rate and annual percentage yield on the entire balance is shown on your Rate and Fee Schedule. If your balance falls below $2,500.00, no dividends will be paid for that dividend period.
The Following Disclosures applies to the Following Account
Health Savings Account: If your Average Daily Balance was $100.00 - $1,000.00, the dividend rate and annual percentage yield paid on the entire balance is shown on your Rate and Fee Schedule. If your average daily balance was $1,000.01 - $5,000.00, the dividend rate and annual percentage yield paid on the entire balance is shown on your Rate and Fee Schedule. If your average daily balance was $5,000.01 - $10,000.00, the dividend rate and annual percentage yield paid on the entire balance is shown on your Rate and Fee Schedule. If your average daily balance was greater than $10,000.00, the dividend rate and annual percentage yield paid on the entire balance is shown on your Rate and Fee Schedule. If your balance falls below $100.00, no dividends will be paid for that dividend period.
Account limitations for each account are specified on your Rate and Fee Schedule. For a share savings account in which transfer limitations apply, no more than six (6) pre-authorized, automatic or telephone transfers may be made from these accounts to another of yours or to a third party in any month, and no more than three (3) of these six (6) transfers may be made by check, draft or debit card to a third party. If you exceed these limitations, your account may be subject to a fee, may be denied additional transfer or be closed.
Your account is nontransferable and nonnegotiable. The funds in your account may not be pledged to secure an obligation of owner, except obligations with the Credit Union.
The rates and yields appearing in the Rate and Fee Schedule at the time you opened your account are accurate and effective for accounts as of the date indicated on the inside. If you have any questions or require current rate information on your accounts, please call Community Credit Union at 207-783-2096.
If you have a dispute with Community Credit Union regarding your deposit or share account, you may contact us at 207-783-2096 and attempt to resolve the problem directly. If we fail to resolve the problem, communicate the problem and the resolution you are seeking to:
Maine Bureau of Financial Institutions
Consumer Outreach Program
36 State House Station
Augusta, ME 04333-0036
To file a complaint electronically, you may contact the Maine Bureau of Financial Institutions at http://www.maine.gov/pfr/financialinstitutions/complaint.htm
The Maine Bureau of Financial Institutions will acknowledge receipt of your complaint promptly and investigate your claim. You will be informed of the results of the investigation.