1. Purpose and Policy Statement
The purpose of this Privacy Policy is to describe how Everest Federal Credit Union collects, uses, protects, and shares the personal and financial information of our members and consumers.
EFCU is committed to protecting member privacy. We view this commitment seriously and will not disclose nonpublic personal information to nonaffiliated third parties unless the Credit Union satisfies strict notice and security requirements, or as permitted by law.
2. Information We Collect ("The What")
To provide you with competitive financial products and services, we collect non-public personal information about you from the following sources:
- Applications and Forms: Information you provide to us on applications for membership, loans, or other services (e.g., Name, Address, Social Security Number, Income, Phone Number).
- Transactions: Information about your account balances, payment history, overdraft history, and debit/credit card usage.
- Consumer Reporting Agencies: Information we receive from credit bureaus regarding your creditworthiness and credit history.
- Verification Services: Information we receive from third parties to verify your identity and employment.
3. How We Use Your Information ("The How")
We use the personal information we collect for "Everyday Business Purposes" to effectively run the Credit Union and serve you. These purposes include:
- Processing your transactions and maintaining your account(s).
- Responding to court orders and legal investigations.
- Reporting to credit bureaus.
- Protecting against fraud and unauthorized transactions.
- Servicing your loans and providing account statements.
4. Information We Share ("The Who")
We may share the information we collect with the following categories of third parties to conduct business on your behalf:
- Service Providers: Companies that provide data processing, core banking software, statement printing, and check/card processing services.
- Financial Service Partners: Insurance agents (e.g., for credit life/disability or GAP insurance) and credit reporting agencies.
- Government Agencies: Entities such as the U.S. Department of Treasury (OFAC) or State Child Support Enforcement agencies, as required by federal or state law.
We do NOT sell your personal information to third parties.
4.1. Special Provision: SMS/Text Messaging Data
In compliance with telecommunications standards and consumer protection laws, EFCU adheres to strict limitations regarding mobile phone data:
"SMS opt-in consent and the phone numbers collected for SMS purposes are NOT shared with third parties or affiliates for marketing purposes."
We will not share your mobile information with third parties for their own marketing/promotional purposes.
5. Security and Confidentiality
EFCU restricts access to your non-public personal information to those employees who need to know that information to provide products or services to you.
- Employee Training: Our employees are educated on the importance of maintaining the confidentiality of member information and on the principles reflected in this Privacy Policy.
- Safeguards: We maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your non-public personal information.
6. Website and Online Privacy
When you submit information via our website (e.g., contact forms, loan applications):
- Encryption: We use secure protocols (HTTPS) to protect data transmitted to us.
- Cookies: We may use cookies to improve website functionality, but we do not track your activity across unrelated third-party websites.
7. Member Rights and Opt-Out
Under federal law (NCUA Part 716), you have the right to limit some, but not all, sharing.
- Sharing for Everyday Business Purposes: You cannot opt out of sharing necessary to process transactions, maintain your account, or report to credit bureaus.
- Marketing: Since Everest Federal Credit Union does not sell member data or share data with non-affiliates for their marketing purposes, there is no need to opt out.