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Privacy Policy

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Privacy Policy

At Salem Co-operative Bank, we value your trust. Your financial privacy is important to us.  The Bank recognizes that customer information is important, confidential, and personal. Protecting sensitive customer information, along with our customer’s financial assets, is at the core of our business.

The Bank has adopted the attached Privacy Policy to ensure the privacy of customer information is safeguarded and protected with the highest levels of security and appropriate discretion. The need to safeguard sensitive information about our customers is critical; therefore standards and procedures of daily operations are designed to prevent misuse of this information. All employees at Salem Co-operative Bank sign a thorough confidentiality agreement upon employment and adhere to a strict code of conduct that governs the practice of protecting our customers’ data.

What your bank can share with non-affiliates

Banks can share certain types of information about you without giving you opt out rights.  For example, your bank can provide the following to non-affiliates if:

  • The information is needed to conduct normal bank business.  For example, your bank can send personal information to outside firms that help market or deliver your bank’s products that you may not already use.
  • The information protects against fraud or unauthorized transactions, or responds to a court order.
  • The sharing of the information complies with federal, state, or local requirements.

Privacy Notices

The Bank’s privacy notice describes the basic categories of non-public, personal information it collects and what it shares with other companies.

All consumers must receive a privacy notice when a customer relationship is established, such as when opening a deposit account or obtaining a loan.  Banks are also required to send you a new privacy notice when you obtain a new product or service with them.  Most banks send a new privacy notice each year; however, your bank may not be required to do so.  For example, if the bank already limits sharing customer information, or the bank has not changed its privacy notice from the one previously delivered to you.

Updates or Changes

From time to time, we may update or amend this policy and will notify you prior to those changes as required by law. You may view the most current version of this Privacy Policy here or by visiting one of our offices. We will also mail you a free copy upon request if you call us at 603-893-3333. We thank you for remaining a valued customer of Salem Co-operative Bank.

Questions

If you have additional questions about privacy, please contact us at 603-893-3333 or visit us at 3 South Broadway Salem, New Hampshire 03079.

FACTS WHAT DOES SALEM CO-OPERATIVE BANK DO WITH YOUR PERSONAL INFORMATION?
Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
What? The types of personal information we collect and share depend on the product or service you have with us. This information can include:
  • Social Security number
  • Account balances
  • Payment History
  • Transaction history
  • Credit history
  • Checking account information
When you are no longer our customer, we continue to share your information as described in this notice.
How? All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons Salem Co-operative Bank choose to share; and whether you can limit this sharing.
Reasons we can share your personal information Does Salem Co-operative Bank share? Can you limit this sharing?
For our everyday business purposes-such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus Yes No
For our marketing purposes-to offer our products and services to you Yes No
For joint marketing with other financial companies No We don't share
For our affiliates' everyday business purposes-information about your transactions and experiences No We don't share
For our affiliates' everyday business purposes-information about your creditworthiness No We don't share
For nonaffiliates to market to you No We don't share
Who we are
Who is providing this notice? Salem Co-operative Bank
What we do
How does Salem Co-operative Bank protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.
How does Salem Co-operative Bank collect my personal information? We collect your personal information, for example, when you
  • Open an account
  • Apply for a loan
  • Make deposits or withdrawals from your account
  • Provide account information
  • Show your driver's license
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.
Why can't I limit all sharing? Federal law gives you the right to limit only
  • Sharing for affiliates' everyday business purposes - information about your creditworthiness
  • Affiliates from using your information to market to you
  • Sharing for nonaffiliates to market to you
State laws and individual companies may give you additional rights to limit sharing.
Definitions
Affiliates Companies related by common ownership or control. They can be financial and nonfinancial companies.
  • Salem Co-operative Bank has no affliates.
Nonaffiliates Companies not related by common ownership or control. They can be financial and nonfinancial companies.
  • Salem Co-operative Bank does not share with nonaffiliates so they can market to you.
Joint marketing A formal agreement between nonaffiliated financial companies that together market financial products or services to you.
  • Salem Co-operative Bank doesn't jointly market.
Other Important Information

For Massachusetts. We will not share personal information from deposit or share relationships with nonaffiliates either for them to market to you or for joint marketing – without your authorization.
Note: We may revise our privacy practices at times. We will provide you with a revised notice when required by law.