Financial companies choose how they share your personal information. Federal law gives
consumers the right to limit some but not all sharing. Federal law also requires us to tell you
how we collect, share, and protect your personal information. Please read this notice carefully
to understand what we do.
Rev. 11/2020
FACTS
Why?
All financial companies need to share members’ personal information to run their everyday
business. In the section below, we list the reasons financial companies can share their
members’ personal
information; the reasons Spectrum CU chooses to share; and whether you
can limit this sharing.
How?
Call 800-782-8782 or go to spectrumcu.org
Questions?
WHAT DOES Spectrum Credit Union (“Spectrum CU”)
DO WITH YOUR PERSONAL INFORMATION?
Reasons we can share your personal information
Does Spectrum CU share?
Can you limit the sharing?
For our everyday business purposes – such as to
process your transactions, maintain your account(s),
respond to court orders and legal investigations, or
report to credit bureaus
YES NO
For our marketing purposes – to offer our products
and services to you
YES
YES
For joint marketing with other financial companies
YES YES
For our affiliates’ everyday business purposes –
information about your transactions and experiences
NO WE DON’T SHARE
For our affiliates’ everyday business purposes –
information about your creditworthiness
NO WE DON’T SHARE
For nonaffiliates to market to you
NO WE DON’T SHARE
The types of personal information we collect and share depend on the product or service you
have with us. This information can include:
■
Social Security number and Employment Information
■
Credit History and Checking Account Information
■
Credit Scores and Transaction History
What?
■
Call 800-782-8782 – our menu will prompt you through your choice(s) or
■
Visit us online: spectrumcu.org
Please note:
If you are a new customer, we can begin sharing your information 30 days from the date we
sent this notice. When you are no longer our customer, we continue to share your information
as described in this notice.
However, you can contact us at any time to limit our sharing.
To limit our sharing
Page 2
Who we are
Who is providing this notice?
Spectrum Credit Union (“Spectrum CU”)
What we do
How does Spectrum CU
protect my personal information?
To protect your personal information from unauthorized access and use, we
use security measures that comply with federal law. These measures include
computer safeguards and secured files and buildings.
Spectrum regularly
tests and assesses its information security measures
and adopts upgrades and enhancements as necessary.
How does Spectrum CU
collect my personal information?
We collect your personal information, for example, when you:
■
open an account or deposit money or pay your bills
■
apply for a loan
■
use your credit or debit card
Why can’t I limit all sharing? Federal law gives you the right to limit only:
■
sharing for affiliates’ everyday business purposes–information about
your creditworthiness
■
affiliates from using your information to market to you
■
sharing for nonaffiliates to market to you
State laws and individual companies may give you additional rights to
limit sharing.
Definitions
Affiliates Companies related by common ownership or control. They can be financial
and nonfinancial companies.
■
Spectrum Credit Union has no affiliates
Nonaffiliates Companies not related by common ownership or control. They can be
financial and nonfinancial companies.
■ Spectrum Credit Union does not share with nonaffiliates so they
can market to you
Joint marketing A formal agreement between nonaffiliated financial companies that
together market financial products or services to you.
■ Our joint marketing partners include credit card and insurance
companies
What happens when I limit sharing
for an account I hold jointly with
someone else?
Your choices will apply to everyone on your account.
