Privacy Policy



Introduction

PSB Bank is committed to respecting the privacy rights of all its current, past and prospective customers ("Customers").This PSB Bank Privacy Policy affirms our commitment to privacy. It describes how the Personal Information of Customers is collected, used and disclosed. Personal information is defined as information about an identifiable individual. Personal information can include things such as your name, address, telephone number, email address, date of birth, annual income, credit and transaction history.

Scope

This Privacy Policy applies no matter how Customers choose to interact with PSB Bank, whether in person, online, by mail or over the telephone.

The PSB Bank Principles of Privacy

1. Accountability

PSB Bank is responsible for the Personal Information under its control and will designate one or more persons to ensure organizational accountability for compliance with the Principles of Privacy. All PSB Bank employees are accountable for the protection of Customers’ Personal Information.

2. Identifying Purposes

PSB Bank will identify the purposes for which Personal Information is collected at or before the time the information is collected.

3. Consent

Consent is required for PSB Bank’s collection, use or disclosure of Personal Information, except where required by law. In addition, when Customers apply for a product or service offered by PSB Bank, consent is deemed to be granted. Express consent may be obtained verbally, in writing, or through electronic means. Alternatively, consent may be implied through the actions of Customers or continued use of a product or service following PSB Bank notification of changes.

4. Limiting Collection

Personal information collected will be limited to that which is necessary for the purposes identified by PSB Bank.

5. Limiting Use, Disclosure and Retention

PSB Bank will not use or disclose Personal Information for purposes other than those for which the information was collected, except with the Customer's consent or as required by law. PSB Bank will retain personal information only for as long as is necessary to fulfill the purposes for collecting such information and compliance with any legal requirements. PSB Bank employs retention standards that meet these requirements. PSB Bank will destroy Personal Information when it is no longer required.

6. Accuracy

Personal Information will be maintained by PSB Bank in an accurate, complete and up-to-date format as is necessary for the purpose(s) for which the Personal Information was collected and is to be used.

7. Safeguards

PSB Bank will protect Personal Information with security safeguards appropriate to the sensitivity of such information.

8. Openness

PSB Bank will make readily available its policies and practices relating to the collection and management of Personal Information.

9. Customer Access

PSB Bank will inform Customers of the existence, use and disclosure of their Personal Information and will provide access to their personal information, subject to any legal restrictions. PSB Bank may require written request for access to Personal Information and in most cases will respond within thirty days of receipt of such requests. Customers may verify the accuracy and completeness of their Personal Information, and may request the Personal Information be corrected or updated, if appropriate.

10. Challenging Compliance

Customers are welcome to direct any questions or inquiries concerning PSB Bank’s compliance with PSB Bank’s Privacy Policy to e-mail comming soon.

What Types of Personal Information May be Collected and Used
In providing services to Customers, PSB Bank may need to collect Personal Information. In most cases, consent to do so is granted by the Customer when applying for a product or service. Depending on the product or service being requested, the following Personal Information may be collected from any source. This is not an exhaustive list.

• Identification information such as name and date of birth;
• Contact information such as your name, address and personal home numbers;
• Documents to verify your identity such as a driver's license, passport or utility bill;
• Current financial figures such as annual income, assets, liabilities;
• Health information if a customer would like to apply for certain insurance products;
• Information on third parties such as a spouse or children;
 • Information about authorized persons when dealing with a legal entity such as a corporation;
  
Why PSB Bank Collect Personal Information
PSB Bank is committed to providing innovative financial products and services. Customers may request or apply for new products or services, or require these services provided by PSB Bank be maintained (collectively the "Services"). PSB Bank collects and uses Personal Information for the purpose of providing its Services.

PSB Bank may review and analyze Personal Information which is provided by or collected about the customer for the following purposes:

• Verify Customer identity;
• Check and verify employment;
• Obtain a credit report and exchange information with a credit bureau;
• Understand Customer needs;
• Determine the suitability and eligibility of Services to the Customer;
• Send Customers information about products and services;
• Set up and manage services;
• Provide Services on an ongoing basis;
• Meet legal and regulatory requirements;
• Manage and assess our risks and to prevent or detect fraud or criminal activity.

Your Personal Information Is Used for Proper Purposes Only

PSB Bank will safeguard your Personal Information and use it only for the purpose(s) it was collected or as permitted under applicable laws and this privacy policy. PSB Bank will not sell, lease or give away your personal information.

Refusing or Withdrawing Consent

Subject to some restrictions, Customers can at anytime refuse to consent, or continue to consent to the collection, use or disclosure of their Personal Information by notifying PSB Bank. Withdrawal of consent may impact PSB Bank's ability to provide or continue to provide Services. Customers cannot refuse collection, use and disclosure of their Personal Information if such Personal Information is required to:

• Fulfill the terms of any contractual agreement made by the Customer;
• Be collected, used or disclosed as required by any law; or
• Be collected, used or disclosed as required by any regulators, including self regulatory organizations.

Questions, Complaints And Access

If you need to update or correct your address, phone number or payment information please contact the PSB Bank Customer Service Department at 432-2002.