First National Bank of Winnsboro maintains information and data about our customers for several reasons. We have learned that the more we know about our customers, the better we can understand their often unique financial needs and provide them with appropriate products and superior service. For example, if we knew you were a homeowner in need of financing, we would recommend that you consider a home equity loan or credit line as an alternative to an installment loan because of its potential tax benefits for you.
We also collect and analyze customer information as the first step in product development. Our goal is to spot trends or changes in the way our customers manage their finances. With this constantly updated information, we are able to create new products and services or improve existing ones, giving you more effective money management tools.
We collect nonpublic personal information about you from the following sources:
- Information we receive from you on applications or other forms;
- Information about your transactions with us or others; and
- Information we receive from a consumer reporting agency.
There are some cases in which we gather information to comply with laws and regulations governing the financial industry. For example, we are required by federal regulations to obtain a tax identification number (generally a social security number) for many of our accounts, including all savings, checking, or investment accounts that pay interest.
We use some of the data we collect to maintain the security of your account(s) and to protect the privacy of your financial information. We must be able to positively identify you and your products and services to prevent access by unauthorized individuals.
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 regulations to guard your nonpublic personal information.
Accuracy of Information
We are committed to maintaining complete and accurate information about our customers, and we employ reasonable measures to ensure the accuracy, timeliness and thoroughness of this information. If you think any information we have about you or your accounts(s) may be incorrect, please notify us immediately. We will take prompt action to make the appropriate corrections and to notify anyone with whom we may have shared inaccurate information.
Sharing Customer Information
We do not disclose any nonpublic personal information about customers or former customers to anyone, except as permitted by law. For example, we are required to share your financial information with parties named in a lawsuit and administrative action when we are served with a subpoena or court order and with federal or state regulatory authorities, such as banking examiners or the Internal Revenue Service, as authorized by federal or state law. Consistent with the practice of other financial institutions, we also share information about you and your account(s) with us with reputable credit reporting agencies as authorized under federal law and with others who may receive certain information from us under particular circumstances, but only as lawfully permitted or required.
An important part of our employee orientation program is the emphasis we place on customer confidentiality. All of our employees are aware of their responsibility with respect to customer information. Only employees who need customer information to perform their duties are authorized to access customer information.
Protection of Information
First National Bank of Winnsboro is committed to the security of your financial and personal information. All of our operations and data processing systems are in a secure environment that protects your account information from being accessed by third parties. We maintain and grant access to customer information only in accordance with our internal security standards.
If you decide to close your account(s) or become an inactive customer, we will adhere to the privacy policies and practices as described in this notice.