Privacy Policy

Overview

At The Bank of Marion, the basis of each customer relationship is trust.  We have an obligation to honor each customer’s trust, beginning with protecting the confidential information that is shared with us.  We believe that privacy of customer information should not be compromised.  At the same time, we want to offer a wide array of financial products and services to accomplish each customer’s financial goals.  We believe we can do both through the privacy policy outlined below.

Customer Privacy Principles

At The Bank of Marion, we believe the confidentiality and protection of customer information is one of our fundamental responsibilities.  And while information is critical to providing quality service, we recognize that one of our most important assets is our customer’s trust. 

Information We Collect at The Bank of Marion

We accumulate information about our customers from a variety of sources.  We gather personally identifiable information through loan and deposit accounts, information regarding financial status of customers, such as employment, income, etc. may be collected from the customer in person, by mail or through our web site.  The Bank of Marion develops other data as a function of providing a product or service to the customer.  Still other information is obtained from outside sources, such as credit bureaus and other creditors.

How We Use This Information

We Collect, retain, and use information about customers only where we reasonably believe that it will help us to:

  1. Mitigate potential risks or loss to The Bank of Marion;
  2. Protect and administer records, accounts and funds;
  3. Comply with certain laws and regulations;
  4. Help us design or improve our products and services; or
  5. Understand the customer’s financial needs so that we can provide quality products and superior service.
Restrictions on the Disclosure of Account Information

It is the Bank’s policy not to reveal specific information about customer accounts or other personally identifiable data to unaffiliated third parties for their independent use, except for the exchange of information with reputable information reporting agencies to maximize the accuracy and security of such information or in the performance of bona fide corporate due diligence or business matter, unless:

  1. The information is provided to help complete a customer initiated transaction;
  2. The customer requests or permits it in writing;
  3. The disclosure is required by or allowed by law (e.g., subpoena, investigation or fraudulent activity, request by regulator, etc.); or
  4. The customer has been informed about the possibility of disclosure for marketing or similar purposes through a prior communication and given the opportunity to “opt in” (written consent) and given the opportunity to “opt out” (decline).

Limitations on Employee Access to Information

At The Bank of Marion, employee access to personally identifiable customer information is limited to those with a business reason to know such information, either to assist you in the completion of transactions or in the sale of additional financial services.  Employees are trained on the importance of maintaining confidentiality of customer information and on these Privacy Principles.  Because of the importance of these issues, all of The Bank of Marion employees are responsible for maintaining the confidentiality of customer information and employees who violate these Privacy Principles will be subject to disciplinary measures.

Protection of Information via Established Security Procedures

At The Bank of Marion, we are committed to the security of each customer’s financial and personal information.  All of our operational and data processing systems are in a secure environment that protects account information from being accessed by third parties.  We safeguard information according to established security standards and procedures.

Maintaining Customer Privacy in Business Relationships with Third Parties

When The Bank of Marion conducts business with third parties, it requires its vendors and suppliers to maintain similar standards of conduct regarding the privacy of personally identifiable customer information provided to them.

Security Policy Testing

The compliance and audit functions will evaluate and test the program to assess the risks to customer information.  The bank will perform internal and external audits of this security program to evaluate its adequacy.  The result of these reviews will be reported directly to the board of directors of the bank.

Providing Privacy Information to Customers and Responding to Inquiries

At The Bank of Marion, we recognize and respect the privacy expectations of our customers.  We want our customers to understand our commitment to privacy in our use of customer information.  As a result of our commitment, we have developed this Privacy Policy.  The Bank of Marion provides a copy of this policy when we establish a customer relationship with a consumer, and thereafter on at least an annual basis.

Online Security

The Bank of Marion also offers many Internet Banking Services such as account access, online bill pay and loan applications.  By providing these services the Bank collects and uses information provided by you in order to provide the services to you.  The Bank of Marion is committed to providing you this service in a secure and confidential manner.

The Bank of Marion offers online services through FundsXpress.   All connections to the internet are between FundsXpress and the customer and FundsXpress and The Bank of Marion.  All connections use a Secure Socket Layer connection.  The Secured Socket Layer uses a digital signature to insure that no one can send a false message.  The Secured Socket Layer also uses the highest level of encryption supported by the customer’s browser to encrypt all information before it is delivered.  This insures that only the browser that logged on can receive information.  As an additional security measure the Website requires a two-factor authentication process before a customer can access account information.
                               
This website may provide links to other websites.  The Bank of Marion is not responsible for any activity performed on these sites.  The Bank of Marion encourages you to read the privacy statement on any website you visit that is linked to our Website.

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