Disclosures

Policy Statement

At Bonvenu Bank, our mission is to meet the desires of our customers. As financial services professionals entrusted with sensitive financial information, we believe that your privacy should not be compromised. At the same time, we want to offer you the array of financial products and services you need to accomplish your financial goals. We believe that both can be accomplished through the establishment of standards outlined in this policy for the collection, use, retention, and security of individual customer information.

Customer Expectations

We recognize the customer’s right to expect privacy and security for their personal and financial affairs. The bank will take all necessary steps to safeguard sensitive information that has been entrusted to us by our customers. To that end, the bank has adopted the following standards and procedures intended to prevent misuse of customer information.

Permissible Reasons To Collect and Maintain Information About Our Customers

The bank will and should collect, retain and use information about our customers only when the bank believes it will help administer our business and in providing products, services, and other opportunities to customers. We will collect and retain information about our customers for a specific business purpose and also, to comply with certain laws and regulations.

Maintenance of Accurate Information

The bank will strive to maintain accurate and complete customer information. We pledge to respond to requests to investigate and to correct, information believed to be inaccurate in a timely manner or as prescribed by law. Information will not be furnished to a consumer-reporting agency if we know it to be inaccurate and/or incomplete.

Limitation on Employee Access to Information

Customer information is considered private & privileged and employees will have access limited to the business reason to know such information. Department Managers are responsible for the daily oversight of employee access of customer information. Training is provided to all employees emphasizing the confidentiality of customer information. Employees violating customer confidentiality will be subject to appropriate disciplinary measures.

Restrictions on the Disclosure of Account Information

Bonvenu Bank places limits detailed below on who receives specific information about customer accounts or otherwise personally identifiable information. We do not reveal information to parties outside our affiliated banks and companies unless:

• The customer authorizes it or permits it.
• The information is provided to help complete a customer-initiated transaction.
• The information is provided to a reputable credit bureau or similar information-reporting agency.
• The disclosure otherwise is lawfully permitted or required (e.g. subpoena).

Maintaining Customer Privacy in Business Relationships With Third Parties

When we do conduct business with a third party, we will require our vendors and suppliers to adhere to similar privacy principles & standards regarding customer information.

Cookie Policy

A Cookie is a small file placed on the user’s computer or mobile device. By using our website and mobile app you agree to the use of cookies. You can opt-out of cookies by activating the setting on your browser or mobile device.

The benefits for using cookies: personalize the customer experience, provide relevant content, monitor the use of the website, analyze trends. Please review our privacy policy on sharing personal information.

NMLS

Bonvenu Bank’s NMLS number is 412577. A list of all individual Mortgage Loan Originators can be made available upon request by contacting the bank.

Children's Information

We respect the privacy of children, and we comply with the practices established under the Children’s Online Privacy Protection Act. We do not knowingly collect or retain personally identifiable information from consumers under the age of thirteen.

Beneficial Ownership

In May 2016, the U.S. government issued a new rule regarding the beneficial ownership of legal entity customers effective May 11, 2018.

All banks are required to identify the beneficial owners and the individual with primary control (controlling person) of a legal entity customer opening, establishing, or modifying a new or existing account, loan, or contracted bank product or service.

In order to meet these requirements, Bonvenu Bank now collects more information from legal entity customers. Any time a new or existing account, loan, or contracted bank product or service is opened, established, or modified for a legal entity, we will request information about the beneficial owners and controlling person of the legal entity. The required information includes name, address, date of birth, identification number, and other information that will help identify those individuals. This information will need to be collected whether or not the person identified as a beneficial owner or a controlling individual is, or will be, a Bonvenu Bank customer.

All information collected is securely stored and handled with the same privacy standards that Bonvenu Bank has always maintained.

Helpful information:

• The new regulation impacts all legal entities opening, establishing, or modifying a new or existing account, loan, or contracted bank product or service at any bank, credit union or financial institution.
• Legal entities are required to identify and attest to all beneficial owners that meet specific requirements, as well as the controlling person (e.g., CEO, CFO, President, General Manager, etc…).
• Bonvenu Bank will collect information regarding the beneficial owners and controlling person of legal entities whether or not they have a relationship with the bank.