Our Commitment to Privacy

A tradition of respect for rights

Credit unions in Canada have a long history of respecting the rights of their member/owners. As co-operative financial institutions, credit unions are committed to implementing policies and procedures that maintain these rights.

Your credit union Board of Directors has adopted the Credit Union Code for the Protection of Personal Information, established Policies and Procedures, and appointed a Privacy Officer. You are entitled to review the Code, access your personal information, or contact the Privacy Officer at any time. Through these actions, what has been our accepted practice becomes our documented commitment to you, the member.

Your Personal Information

We hold personal information about members to help us meet and maintain the highest standards of financial service. This information may include your name, address, Social Insurance Number, age, use of accounts and credit history, employment records, personal references, as well as the relationship of others linked to you in account services. We obtain this information from you directly, and from the product and service arrangements you have made with or through us. Information is also obtained with your permission from credit bureaus, other financial institutions and from the personal references you provide us.

Co-operative Financial Services Partners

Your credit union also provides services in conjunction with financial services partners that include the Co-operative Financial Services Groupä of companies. These companies include: Co-operators Insurance, Co-operative Trust Company of Canada, Credit Union Electronic Transaction Services (CUETS), Credit Union Members Insurance Society (CUMIS), Credential Asset Management, Ethical Funds Inc., League Data, League Savings & Mortgage, MemberCare Financial Services, and other similar organizations that support credit union goals and values and provide useful and valuable products and services to our members.

In accordance with regulatory requirements, your credit union may be required to collect, use or disclose information with other Co-operative Financial Services Partners in providing a service.

Your personal information may also be shared with these partners so that they may promote their services to you.

We only collect the information that we absolutely need

Because of the importance placed on member confidentiality, the credit union will only collect, use or disclose information that it absolutely needs. The credit union will ask for information for the following purposes:

• To understand your financial servicing needs;

• To determine the suitability and eligibility for member products and services;

• To evaluate your credit standing and to share or exchange reports and information with credit reporting agencies;

• To detect and prevent fraud, and to help safeguard the financial interests of the credit union and its members;

• To meet legal and regulatory requirements.

• For the promotion of products and services by your credit union and/or partner companies.

We ask you for your SIN to comply with tax reporting requirements. For example, when you open a deposit account, we ask for your SIN as any interest earned must be reported. There are other purposes for which we may ask you for your SIN. For example, if you are applying for a loan or overdraft protection, we may ask for your SIN to ensure an accurate match between your personal information and your credit bureau report.

Personal Information
Consent

We need your consent.
Here’s how you can provide it

You can provide us with your express consent in a variety of ways (depending upon the sensitivity of the information) – in writing, electronically, or verbally in some instances. For current members, implied consent will apply, where we can reasonably conclude that you have given consent by deciding not to withdraw your consent. Preferably, we will obtain your express consent in writing when you apply for a new credit union service offering.

The attached form provides you with an opportunity to restrict the uses and disclosures of your personal information should you choose to do so. You can mail, fax or personally return the attached form to the credit union.

If, for any reason, you do not provide us with your written consent, and do not withdraw your consent, we will assume that we have your implied consent for the continuing use of your personal information for purposes described within this brochure, including disclosure to the Co-operative Financial Group of Companies.

You may withdraw your consent at any time, subject to legal or contractual obligations.

However, you must understand that if you make this choice, we may not be able to provide you with the product or service that you desire. For example, your credit union is required by law to provide a record of your interest earning information to the Canada Customs and Revenue Agency, therefore this information could not be limited.

Credit Union Code for the Protection of
Personal Information

Here is a summary of the 10 Principles. If you would like additional information, please contact us.

1. Accountability
We have designated a Privacy Officer who is accountable for our compliance with the principles of the Code.
2. Identifying Purposes
Before or at the time we ask you for personal information, we will identify the purposes for which it will be used or disclosed.
3. Consent
We require your knowledge and consent for the collection, use, or disclosure of personal information.
4. Limiting Collection
The collection of personal information shall be limited to that which is necessary for the purpose identified by the credit union.
5. Limiting Use, Disclosure, and Retention
If you have provided explicit limited consent, your personal information shall not be used or disclosed for purposes other than those for which it was collected or as required by law. We will retain your information only as long as necessary to fulfill identified purposes.
6. Accuracy
We will keep your information accurate, complete, and up-to-date, based on information you have provided to us.
7. Safeguards
We will protect your personal information with appropriate security safeguards.
8. Openness
We will make specific, understandable information readily available to you about our personal information policies and practices.
9. Individual Access
When you request it, we will give you access to the existence, use, and disclosure of your information. You are entitled to question its accuracy and completeness, and its uses.
10. Challenging Compliance
You are entitled and are encouraged to question the Privacy Officer about our compliance with any of these principles.

Have a question? Ask our Privacy Officer

The credit union Privacy Officer is your point of contact if you wish to raise any matters regarding the use of your personal information. The Privacy Officer is responsible for monitoring information collection and data security, and ensures that other credit union staff receive appropriate training on privacy issues and their responsibilities under the Code. The Privacy Officer also handles all privacy inquiries and personal information access requests under the Code. Access may be restricted, for example, where it contains proprietary information or contains personal information on other members. If a request must be restricted, the credit union Privacy Officer will provide you with the reasons for this, as well as any cost that may be involved in the collection of this information.

Denise Fictorie
Privacy Officer
York Credit Union Ltd
494 Queen St.
Fredericton NB, E2B 1B6