Financial Privacy Policy
The Board of Directors of Ujoelen Microfinance Bank acknowledges its customers'
expectation that their financial and personal information is private. It is the
bank's practice not to disclose customer information unless such disclosure is:
1) required by law, 2) specifically allowed by law, or 3) requested by the
customer, directly or indirectly. Further, the Board recognizes the risks
involved in failing to keep such information in the strictest confidence. For
these reasons, the directors and employees of Ujoelen Microfinance Bank are
expected to make every effort to fulfill the bank's duties in this area.
Sound banking practices and federal laws require us to gather certain nonpublic
personal information about you as a condition of establishing and maintaining a
customer relationship. For example, we gather information by requiring
applications for loan and deposit accounts; reviewing transaction activity;
obtaining reports from service and credit bureaus; and various activities aimed
at verifying the information we receive.
In order to protect the customer's privacy and to reduce the possibility of
litigation, the bank's general policy, except in situations where disclosure is
required or specifically allowed by law, is to require a written, signed (or
otherwise authenticated) authorization from the customer regarding any request
for information that is made, regardless of the source of that request
(including e-mail requests). This record shall be placed in the appropriate file
(loan, deposit account, etc.) as evidence of the proper release of the
information. Exceptions may be made only if the officer or employee has received
information that reasonably identifies the requester as the customer or as an
authorized representative of the customer. Bank procedures will include an
acceptable method of identifying the customer with reasonable certainty (drivers
license #, account #, amount of last deposit, etc.) If the requester cannot meet
the reasonable criteria selected by the bank, the information shall not be
provided.
The Federal Right to Financial Privacy Act governs the release of information to
the Federal Government, including Federal agencies and Federal courts. The Edo
Financial Privacy Act governs release of information to state agencies,
including information sought in connection with proceedings in state court. The
requirements of these statutes shall be followed.
We do make disclosures to third parties that are specifically allowed by law.
For example, that necessary to effect a transaction you requested or authorized.
For example: we may give your name, address and account number to the vendor who
prints your personal checks, we may give your loan information to a vendor who
prints a payment book and we way give information on fiduciary accounts in which
you have an interest to outside prepares to enable them to compile necessary
government filings.
All information related to requests for customer information shall be retained
for 5 years
The Financial Privacy Officer is responsible for coordinating all requests for
financial information from state and federal government agencies and in
connection with court proceedings. This officer will also coordinate with the
compliance officer in order to maintain and update this policy, and to provide
the training needed for all bank personnel.
Privacy Disclosure for
Our Internet Site
If you visit this site this is how we will handle the information we receive
from your inquiry. The information we receive depends upon what you do when you
visit our site.
If you visit our site to read or download information, such as consumer
brochures sample disclosures or press releases:
1. We will collect and store only the following information about you: the name
of the domain from which you access the internet (for example, email.com.ng, if
you are connection from a Nigerian Online account); the date and time you access
our site; and the Internet address of the web site from which you linked
directly to our site.
2. We use the information we collect to measure the number of visitors to the
different sections of our site and to help us make our site more useful to
visitors.
If you identify yourself by sending an E-mail:
1. You also may decide to send us personally identifying information, for
example, in an electronic mail message containing a special request. We use
personally identifying information from consumers in various ways to further our
consumer protection and competition activities. See our Privacy Policy for
additional information about how your customer information is handled by our
bank.
2. We want to be very clear: We will not obtain personally identifying
information about you when you visit our site, unless you choose to provide such
information to us. |
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