Privacy Policy
- What does Local Bank do with your personal information?
Why? 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.
What? 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 income
- Account balances and payment history
- Credit History and employment information
When you are no longer our customer, we continue to share your information as described in this notice.
How? All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Local Bank chooses to share; and whether you can limit this sharing.
Reasons we can share your personal information
- Local Bank does share your personal information For our everyday business purposes – such as transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus. You cannot limit sharing.Local Bank also shares you personal information for affiliates everyday business purposes – information about your creditworthiness. You can limit sharing.Local Bank does not share personal information for our marketing purposes – to offer our products and services to you, For joint our marketing with other financial companies, For affiliates everyday business purposes – information about your transactions and experiences and For our non-affiliates to market to you.
Children’s Online Privacy Protection Act
The Children’s Online Privacy Protection Act (COPPA) was passed to give parents increased control over what information is collected from their children online and how such information is used. The law applies to websites and services directed to, and which knowingly collect information from, children under the age of 13. Local Bank’s website and online services are not directed to children under the age of 13, nor is information knowingly collected from them.
For information on COPPA protections, visit the Federal Trade Commission’s website. https://www.ftc.gov/business-guidance/privacy-security/childrens-privacy
Who We Are
Local Bank
How does Local Bank 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.
We also maintain other physical, electronic and procedural safeguards to protect this information and we limit access to information to those employees for whom access is appropriate
How does Local Bank collect my personal information?
We collect your personal information, for example, when you:
- Provide employment information
- Give us your income information
- Give us your contact information
- Give us your wage statements
- Provide your mortgage information
We also collect your personal information from others such as credit bureaus, affiliates, and other companies.
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.
How we use collected information
No mobile information will be shared with third parties/affiliates for marketing/promotional purposes. All other categories exclude text messaging originator opt-in data and consent; this information will not be shared with any third parties.
We may collect and use Users personal information for the following purposes:
- To improve customer service: Information you provide helps us respond to your customer service requests and support needs more efficiently.
- To personalize user experience: We may use information in the aggregate to understand how our Users as a group use the services and resources provided on our Site.
- To improve our Site: To send messaging to those individuals when they have consented to such messaging.
- To complete the services requested: Information is used to complete the service requested by the user.
How users consent to messaging
The user fills out a form on the website where they can consent to receive notification messages from our company. There is also a box they can check to receive product updates and/or marketing messages. The messaging disclosure is displayed to users by this form.
By submitting your phone number, you are authorizing us to send you text messages and notifications. Message frequency may vary. Message/data rates apply. Reply STOP to unsubscribe to a message sent from us.
Definitions
Affiliates: Companies related by common ownership or control. They can be financial and nonfinancial companies.
- Local Bank does not share with our affiliates.
Nonaffiliates: Companies not related by common ownership or control. They can be financial and nonfinancial companies.
- Local Bank 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 companies such as credit card companies.