The USA Patriot Act requires
credit unions to take extra security precautions to help the government fight
the funding of terrorism and money laundering activities. Federal law requires
all financial institutions to obtain, verify, and record information that
identifies each person who opens an account. These new procedures are designed
to prevent crimes such as identity theft and account fraud that terrorists
commit to finance their operations against the U.S. and its citizens.
When an account is opened or
changed, you will be asked for your name, address, date of birth, and other
information that will allow us to identify you. We will also ask to see your
driver’s license or other identifying government issued documents. The
definition of an account covers a broad range of regular financial
transactions such as deposit, transaction, asset, or credit accounts or other
extension of credit. The required verification may be inconvenient for some,
but a strong deterrent for terrorists and other criminals.
You can be rest assured that we
will only request information required by law, and that we will use the
information only for purposes of complying with the law. Your privacy is our
top concern. We will respect and protect it as always, consistent with the
law’s requirements.
Thank you for your
understanding and help in this critical effort. The war on terrorism will be
fought on many fronts, and this is one of them.
Fax: 219-942-3447
