Member Privacy – A Matter of Trust.
The NBTA Credit Union has adopted a comprehensive code for the protection of personal information. Our Privacy Code is based on the standards developed and published by the Canadian Standards Association.
The following information is a simplified version of our Privacy Code. The full text of the Code is available upon request.
- Protecting Your Privacy Means
- Why personal information is collected
- Your information is obtained or used only with your consent
- Your consent can be express or implied
- You can withdraw your consent after you’ve given it
- We protect your information from error, loss and unauthorized access
- Your information is destroyed when it is no longer needed
- You can see and verify the accuracy of your information
- You can find out to whom we’ve given information about you
- We correct your information
- Questions or Concerns
Protecting Your Privacy Means:
- Your information and the business you do with us are kept in strict confidence.
- Your information is never sold to outside parties.
- You have control over how we obtain, use, and disclose information about you.
- Your privacy is respected when we market our products and services.
- Personal information on your deposit accounts is not disclosed to outside companies or organizations with the following exceptions.
Why Personal Information is Collected
Besides your name, address and telephone number, other information may be requested to:
- Establish your identification.
- Protect you and ourselves from error and fraud.
- Comply with legal requirements.
- Understand your needs and provide ongoing service.
For example, when you deposit funds with us that will earn interest, the Income Tax Act requires us to ask for your Social Insurance Number, likewise, the same Act requires individuals to provide this information to their financial institution.
In addition to collecting information the law requires us to obtain, there are other information gathering purposes which are self-evident. For example, if you are applying for a mortgage or loan, or to co-sign or guarantee for another borrower, we ask for information concerning your employment and credit history to help determine your credit worthiness. We also ask for references, which we may use to verify the information you have provided on your application.
Your information is obtained or used only with your consent.
We obtain your consent before we:
- check your employment
- obtain a credit report
- send you information about products and services by means of direct marketing (other than statement inserts or flyers accompanying other mailings)
- obtain, use or disclose to persons other than the above information about you, unless we are obligated to do so by law or to protect our interests.
- use your information in any way we didn’t tell you about previously
Your consent can be express or implied.
Express consent can be verbal or written. For example, when you sign an application for a mortgage, you are giving your written consent for us to obtain a credit report.
You imply consent when we can reasonably conclude that you’re given consent by some action you’ve taken, or when you decide not to take action. For example, if you fail to tell us that you don’t want us to send direct marketing material, we can conclude that you have no objection.
You can withdraw your consent after you’ve given it.
You can withdraw your consent any time after you’ve given it to us provided there are no legal requirements to prevent this. If, however, you have or guarantee a mortgage or other credit arrangement with us, during its term, you may not withdraw your consent to our ongoing collection, use or disclosure of information about you in connection with it. You may not withdraw your consent to the ongoing disclosure of your personal information to Credit Bureaus even after the mortgage or credit facility has been retired. This is necessary to help maintain accuracy, completeness and integrity of information held by Credit Bureaus.
In the event you refuse or withdraw your consent to the collection, use or disclosure of information about you, we may not be able to provide or continue to provide you with some products, services or information of value to you. We will not, however, unreasonably withhold products or services.
We protect your information from error, loss and unauthorized access.
Our employees are made aware of the importance of maintaining privacy of personal information. Each employee must sign an agreement acknowledging that maintaining confidentiality is a condition of employment.
All information in our computer systems has built-in security features including multiple password restrictions. The service bureau handling our computer processing uses security standards comparable to our own, and they have entered into a Confidentiality Agreement pertaining to the personal information in our clients’ files.
Other precautions, as simple as locking filing cabinets, contribute to our goal of protecting the privacy of information in our care.
Your information is destroyed when it is no longer needed.
Your information is retained only as long as we need it for the products and services you are using, to offer you products and services when you are a customer and for a reasonable time thereafter, or to comply with any legal requirements. For example, Revenue Canada requires us to maintain records of interest paid on deposits for a set number of years. We have retention standards to comply with the various legal requirements for retention of account records. We destroy your account information when it is no longer needed. When information is destroyed or disposed of, it is done in a manner which prevents unauthorized access.
You can see and verify the accuracy of your information.
You can check to verify what personal information we have on your file, and to update or correct any incorrect information. You can make your request to us to see the information we hold about you. If the information is not held at our office, the manager will arrange for you to receive the information.
There is no charge for verifying or correcting your basic information. Depending on the circumstances, there may be a charge if you request a copy of records, which have already been given to you – for example, a copy of an account statement. As soon as possible following your request, you will be advised if there is a charge to retrieve the information you have asked for.
The NBTA Credit Union will NOT provide personal information in it’s control if. it is too costly to retrieve, contains reference to other persons, is subject to solicitor-client or litigation privilege, contains the Credit Union’s own proprietary information, cannot be disclosed for legal reasons, or is used for the detection and prevention of criminal activity and dealings in proceeds of crime.
If the Credit Union denies your request for access to personal information, you will be told why and you may challenge that decision.
You can find out to whom we’ve given information about you.
- We do not keep a record when account information is disclosed to third parties for routine purposes such as computer processing; however, Confidentiality Agreements are entered into with such parties under which, they are bound by the same stringent confidentiality principles as our own employees.
- We do not keep a record of regular updates of credit information to credit bureaus.
- We do not keep a record when account information is disclosed through routine reporting to government agencies such as T-5 and other reports to Revenue Canada as required by legislation or regulation.
We correct your information.
Whenever possible, we’ll correct any information which we may have given an outside organization.
If a third party, such as a Credit Bureau, has given us information which you tell us is wrong, we will give you the name and address of that party so that you can correct the information.
Questions or concerns.
Questions or concerns about personal information held by NBTA Credit Union, or about the Credit Union’s compliance with its Privacy Code, can be answered readily at our office or directly with our Privacy Officer:
Pam Campbell, Privacy Officer
650 Montgomery St.
Fredericton, NB, E3B 5R6
Toll Free in NB: 1-800-565-5626
Should we be unable to resolve your concerns, please contact:
PO Box 9200, 6074 Lady Hammond Road
Halifax, Nova Scotia B3K 5N3
Toll Free: 1-800-668-2879
If your concerns are still not resolved, you may contact:
Office of the Superintendent of Financial Institutions
255 Albert Street, 16th Floor
Attention: Director, Public Affairs