Privacy Policy

Important information about the personal data your credit union collects and how it is used

Democracy Federal Credit Union (Democracy FCU) knows how important it is to you for us to provide the highest quality and variety of products and services available. We also know that it is equally important that we safeguard the privacy of your nonpublic personal information.

Democracy FCU will collect and keep information on you only if it serves a specific business purpose or our Credit Union's mission. We are required by law to provide this notice to you to explain how we collect, use, and protect your nonpublic personal information.

Categories of Nonpublic Personal Information That We Collect

We collect nonpublic personal information about you from the following sources:

  • Information we receive from you on applications or other forms, such as: your name, address, email address, social security number, assets, and income.
  • Information about your transactions with us, our affiliates, or others, such as: your account balance, payment history, parties to transactions, and credit card usage.
  • Information we receive from a consumer-reporting agency, such as: your creditworthiness and credit history.

Nonpublic Personal Information That Our Credit Union Discloses

We do not disclose any nonpublic personal information, as described above, about our members or former members to anyone, except when permitted or required by law.

In providing various products it may be necessary for us to work with our affiliates or outside vendors. In doing so, we will share information with them in order to fulfill a request made by you or to offer a product that we believe may be of interest to you.

Democracy FCU requires that these third parties keep your nonpublic personal information in strict confidence and prohibits them from sharing it with any other party. Our Credit Union does not sell any information about you to any third parties, including telemarketing companies.

Categories of Affiliates To Whom We May Disclose Nonpublic Personal Information

Our affiliates are engaged in the businesses of providing mortgage and branch services.

Opt Out

After reading our Privacy Policy, you may prefer that we do not disclose nonpublic personal information about you to non-affiliated third parties. To do this you may opt out of those disclosures by directing us not to make those disclosures (other than disclosures permitted by law). You may opt out of these disclosures at any time. This opt out, by law, will not apply to disclosures that are legally permitted, disclosures to other financial institutions that have joint marketing agreements with us, disclosures we make to companies that perform services on our behalf, or companies that process or service transactions you request or authorize.

If you wish to opt out of the disclosures to non-affiliated third parties, please complete and submit the below information via email or to the address below. Once we receive your request, allow us 20 business days from the date we receive your opt out disclsoure to make the necessary changes for your request. You may always contact us for assistance if you wish to later revoke your opt out election.

By signing this disclosure you are prohibiting us from sharing your information with non-affiliated third parties except where already permitted by law. This notice will remain in effect until you advise the bank otherwise and it applies to any and all accounts, inquiries, or loans made to you as an applicant or co-applicant.

Please date, sign, and return this form to:

Democracy Federal Credit Union
Attn: Supervisory Committee
P.O. Box 273
Alexandria, VA 22313-0273

_____________________________________________       _____________________________________________

Printed Name & Date                                                    Signature

How We Protect Your Information

All Democracy FCU employees are informed of their responsibility to protect the confidentiality of your nonpublic personal information. Employees may access your nonpublic personal information only when necessary for business reasons. We have implemented security measures to protect against unauthorized access to your information. Article XIX, Section 2 of the Democracy FCU bylaws requires the Credit Union's officers, directors, members of committees, and employees to "hold in confidence all transactions of this Credit Union with its members and all information respecting their personal affairs, except when permitted by state or federal law." We maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information.

In addition to providing the security of your account information, Democracy FCU also works to ensure the accuracy of the account information we maintain on file. You always have access to the account information that we have. If you have reason to dispute any information or question our commitment to you on member privacy, please address your correspondence to the Supervisory Committee:

Democracy Federal Credit Union
Attn: Supervisory Committee
P.O. Box 273
Alexandria, VA 22313-0273

All Democracy FCU employees are informed of their responsibility to protect the confidentiality of your account information. Employees may access your account information only when necessary for business reasons. We have implemented security measures to protect against unauthorized access to your information.

The Credit Union may have to make changes to our member information privacy policy from time to time. If such changes become necessary we will make the updated policy available on our Web site. A copy of the member information privacy policy can be made available to you upon request at any time.