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Privacy Policy
Our Privacy Commitment to You
Lake-Osceola State Bank and its affiliated company, Lake-Osceola Mortgage Corporation, value customer relationships. The basis of each customer relationship is built on trust. We are committed to protecting the privacy of our customers’ information. When you provide us with information, you can be sure that we will hold that information in strict confidence. We have developed a policy to ensure your personal privacy. This policy applies to non-public personal information we gather concerning individuals obtaining financial products or services from us primarily for personal, family or household purposes.
Confidentiality and Security of Non-public Personal information
We restrict access to your personal and account information to those employees who need to know that information to provide products or services to you. We maintain physical, electronic and procedural safeguards that comply with federal standards to guard your non-public personal information.
Non-public Personal Information We Collect
We collect non-public personal information about you in order to establish and service your account. We also collect information so that we may provide you the highest level of service. We collect the following categories of non-public personal information about you from the following areas:
- Information we receive from you on applications, other forms, and through our web site such as your name, address, social security number, assets and income;
- Information about your transactions with us, our affiliated companies, and others such as your account balance, payment history; and
- Information we receive from a consumer-reporting agency such as your creditworthiness and credit history.
We may disclose all the information we collect, as described above, to companies that perform marketing services on our behalf or to other financial institutions with whom we have joint marketing agreements.
Fair Credit Reporting Act Notice*
Opt-Out of Sharing within our Two Companies, Lake-Osceola State Bank and Lake-Osceola Mortgage Corporation
Our two companies are financial service providers. We always have the right to share, within our two companies, identifying and contact information from your application, and information about our transactions, and experiences with your account. If you do not want us to share, within our two companies, the other information we obtain from your application, such as asset information, and the information we obtain from consumer reporting agencies, please notify us in writing. If you desire to Opt-Out of information sharing we must have your request in writing sent to the following address.
PO Box A
Baldwin, MI 49304
What Happens If You Opt-Out?
It is important that you understand what information will be affected if you choose to opt-out of sharing. The Fair Credit Reporting Act controls information shared within our two companies. Under the Fair Credit Reporting Act, you have the right to opt-out of sharing certain non-public personal information within our two companies, Lake-Osceola State Bank and Lake-Osceola Mortgage Corporation. If you opt-out, we will not share non-public personal information we obtain from our application or information we obtain from consumer reporting agencies within our two companies except that we will continue to share, within our two companies, information about our experiences or transactions with you,
Non-Public Personal Information We Disclose
- We do not disclose non-public personal information about you to other non-affiliated third parties or anyone else except as permitted by law.
- If you decide to close your account or become an inactive customer, we will still adhere to the same practices described in this notice.
- We are committed to continue to provide quality products and services while still maintaining your privacy. If you have any questions about our policy, please contact us at (231) 745-4601.
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 will also ask to see your drivers’ license or other identifying documents. In some instances, we may use outside sources to confirm this information. Our Privacy Policy and Federal Law protect the information you provide.
We, our, and us when used in this notice means Lake-Osceola State Bank and Lake-Osceola Mortgage Corporation.
If you have any questions about how we collect and use information about you, please feel free to call or visit any one of our offices.
©2010 Lake-Osceola State Bank | 790 Michigan Ave., Baldwin, MI 49304 | (231) 745-4601