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Dear Valued Customer:
At GSL Savings Bank protecting the privacy and confidentiality of your personal
information is important to us. We value your business and the trust you put in
GSL Savings Bank. To offer you the financial products and services you seek, we
collect, maintain and use information about you on a routine basis. To help you
better understand how your personal information is protected here at GSL Savings
Bank, we are providing you with the following statement describing our practices
and policies with respect to the privacy of customer information. In the event
you terminate your customer relationship with us or become an inactive customer,
we will continue to adhere to the policies and practices described in this
notice.
If you have any questions or need more information, please contact any one of
our officers.
Very truly yours,
Alan L. Williams
President
IMPORTANT INFORMATION - CUSTOMER PRIVACY POLICY
CUSTOMER EXPECTATIONS
We value our banking relationship customers. Our goal is to serve them as
effectively and conveniently as possible, and to make sure they feel confident
that information about their banking relationships with us is treated with the
utmost care.
Trust, privacy and confidentiality are the watchwords of our banking philosophy
and are the foundation blocks of our success. We know that they expect us to
meet the highest standards of performance, and we work diligently to meet their
expectations.
PERMISSIBLE REASONS TO COLLECT AND MAINTAIN INFORMATION ABOUT OUR CUSTOMERS
The Bank may routinely collect or retain information that includes customer: (1)
name, address, telephone number, social security number, annual income, current
and past employers; (2) answers to questions on deposit and loan applications;
and (3) deposit and loan balances, overdraft history, account activity, and
payment history with the Bank. We collect information from consumer reporting
agencies regarding credit and checking account histories. We also may retain
information about the types of products and services purchased from us to learn
about the financial needs and interests of our customers. We may share this
information with others to the extent permitted by law and in accordance with
our information sharing practices.
LIMITING EMPLOYEE ACCESS TO INFORMATION
The Bank has implemented procedures that limit employee access to personally
identifiable information to those employees with a business reason to know such
information about our customers. All department managers will inform employees
about the importance of confidentiality and customer privacy through department
standard operating procedures, special training programs, our “Code of Ethics
Policy” and our Information Security Policy. Bank management is directed to take
appropriate disciplinary measures to enforce employee privacy responsibilities.
SECURITY PROCEDURES TO PROTECT INFORMATION
Bank management is directed to maintain security standards and procedures to
help prevent unauthorized access to confidential information about customers.
The Bank will update and test “systems” on an ongoing basis to ensure the
protection and integrity of customer information. The Bank is committed to the
security of customer 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. Our employees are trained to
understand and comply with the Bank’s Information Security policies.
We prohibit our employees and vendors from giving information about our
customers in a manner that would violate any applicable law or this Privacy
Policy. We do not provide information about customers to anyone without first
verifying who he or she is and whether he or she may have legal right to the
information.
RESTRICTION ON DISCLOSING INFORMATION TO PARTIES OTHER THAN AFFILIATED BANKS
AND COMPANIES
The Bank will not disclose account numbers, balances or social security numbers
on deposit accounts or transaction accounts to nonaffiliated third parties in
order for them to sell their products or services. We may give account number to
consumer reporting agencies because we are allowed or are required to do so by
law. We share information with affiliates and subsidiaries in order to offer
additional products and services. We may share information about customers with
certain nonaffiliated companies that are the Bank’s agents. We do this to
provide convenient access to products and services, or because these companies
help us perform necessary business functions or services. Law permits this
sharing. These agents are required to keep confidential any information about
our customers that we give them.
ENDING CUSTOMER RELATIONSHIP
When a customer ends their relationship with the Bank, or when we end our
relationship with a customer, we will treat the information we have about a
former customer as if they were still our customer.
OPT-OUT RIGHTS
Currently, the Bank and its affiliates do not share nonpublic personal
information except as permitted by law, therefore the Bank does not have a
requirement to provide to the customer an opt-out notice.
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