What does Locus Bank do with your personal information?
Financial companies choose how they share your personal information. Federal law gives consumers that obtains financial products for personal, family, or household use 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 income
- Account balances and payment history
- Credit history and credit scores
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 Locus Bank choose to share; and whether you can limit this sharing.
|Reasons we can share your personal information||Does Locus Bank 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 our products and services to you||No||We do not share.|
|For joint marketing with other financial companies||No||We do not share.|
|For our affiliates’ everyday business purposes—information about your transactions and experiences||Yes||No|
|For our affiliates’ everyday business purposes—information about your creditworthiness||No||We do not share.|
|For our affiliates to market to you||Yes||Yes|
|For nonaffiliates to market to you||No||We do not share.|
To limit our sharing
- Mail in the form below
- Email the form below
If you are a new customer, we can begin sharing your information 30 days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice.
However, you can contact us at any time to limit our sharing.
Call 877-214-3564; or go to www.locusimpact.org
Who we are
Who is providing this notice?
What we do
How does Locus 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 Locus Bank collect my personal information?
We collect your personal information, for example, when you
- Open an account
- Conduct transactions on your account such a deposit or transfer
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. See below for more information on your rights under state law.
What happens when I limit sharing for an account I hold jointly with someone else?
Your choices will apply to everyone on your account – unless you tell us otherwise.
Companies related by common ownership or control. They can be financial and nonfinancial companies.
- Locus Impact Fund
- Locus Capital, Inc.
Companies not related by common ownership or control. They can be financial and nonfinancial companies.
- Locus Bank does not share your information with non-affiliate companies so they can market to you.
A formal agreement between nonaffiliated financial companies that together market financial products or services to you.
- Locus Bank does not engage in joint marketing.
Other important information
Locus Bank is chartered, licensed or registered under the laws of State of Virginia and is subject to regulatory oversight by the Federal Reserve Board. Any consumer wishing to file a complaint against Locus Bank should contact the Federal Reserve though one of the following means: By U.S. Mail: P.O. Box 1200, Minneapolis, MN 55480; Telephone 1-888-851-1920(Toll Free) or 1-877-766-8533 (TTY); or Email: email@example.com.