Lakelands Federal Credit Union: Privacy Disclosure

PRIVACY POLICY AND AGREEMENT

Trust has always been the foundation of our relationship with members. To preserve your trust, we pledge to protect your privacy by adhering to the practices described below. By signing any application or agreement with us, or your use or continued use of any of our services with after receiving this document, you jointly and severally agree to the terms and conditions set forth in this Policy and Agreement. In this Agreement the terms we, our, or us means Lakelands Federal Credit Union; and the terms you or your means all members, consumers, borrowers and guarantors.

1. The Types of Information We Collect. We only collect information about our members for lawful business purposes, or as otherwise required by applicable law. We collect information about members from the following sources: (a) Applications for services, other forms and any communications you send to us including electronic messages from which we collect your name, addresses, phone numbers, social security numbers, financial data, birth date, gender and other information; (b) Transactions involving your accounts or services with us from which we collect information such as your name, account number, balance, payment history, parties to your transactions and credit card usage; (c) Consumer Credit Reports from which we collect information regarding your creditworthiness, credit history and account activity; and (d) Market Research Firms that provide us with a variety of information regarding our members such as the number of individuals in a household, home ownership.

You agree that the telephone numbers, street and e-mail addresses provided in your Membership Application and Signature Card, or any other application or communication sent to us are publicly available and will be used to provide notices, disclosures, statements, other communications (including but not limited to our responses to your e-mail communications) and offers for certain products or services.

The Credit Union’s Web Site. Use of our web site or linking to a site we sponsor requires the use of cookies, which are small pieces of information a web site stores on a visitor’s web browser to remind the site about the user the next time the site is visited. We do not store confidential or sensitive information through the use of cookies. Our use of cookies enhances our member’s online transactions and eases navigation through our web site. For certain application, such as online transactions, cookies are required to help protect the privacy of a member’s transactions by, for example, terminating the session if the member forgets to log out. We collect e-mail addresses from members who request electronic services, and from users of our web site who choose to provide their addresses.

2. The Types of Information We Disclose. To benefit our members, we share the information described in Paragraph 1., above within the Credit Union, and with certain trusted third parties described in this paragraph, who are obligated to maintain the confidentiality and security of your private information. We use the services of various third parties to assist us in offering financial services to our members. For example, we use the services of third parties for processing transactions using credit cards, checks, debit cards and other access devices; for assistance in making loans, loan underwriting; processing loan applications; appraising collateral and for processing our outgoing mail. We also work with companies that provide financial planning, investment services, extended automotive service contracts, personal and property insurance, credit counseling, retail automobile sales and travel services to members.

We share information with CUMS, Inc., a credit union service organization. This company is owned by us and other Credit Union’s through ownership of the South Carolina Credit Union League. CUMS provides the following types of services to us: item processing and collection, statement printing, mailing services, bookkeeping and accounting, consulting and business development.

We share information about individual members with CUNA Mutual Group (CMG), which is a diversified financial services company that serving Credit Unions and their Members. CMG uses this information to offer insurance services to our members. We may also share information when permitted by applicable law.

3. Security. We are committed to taking every reasonable precaution to protect individual identifying information that you provide to us. We restrict access to nonpublic personal information about you to employees who need to know that information to provide products or services to you. We also maintain physical, electronic and procedural safeguards that comply with federal regulations to guard your nonpublic personal information.

4. Notices and Joint Relationships.’ Except where expressly required by applicable law, we will provide all notices to the person (member) listed first on any application, agreement or other relevant document with us. The notice will be mailed to the address noted for said person on the application, agreement or other document. If this person (member) has agreed to receive notices and disclosures electronically, then we can send all such notices and notifications, to the e-mail or Internet address provided by said person. All joint owners, borrowers and guarantors agree to the receipt and sufficiency of any notice or notification sent according to this paragraph.

5. Modification. The Credit Union reserves the right to modify, change or amend this Privacy Policy and Agreement at any time without notice other than as expressly required by applicable law.