Salem Co-operative Bank

Privacy Policy

Updated September 2017

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.

Information Collection

The types of personal information we collect and share depend on the product or services you have with us.   This information can include:

· Account balances

· Account information

· Payment history

· Transaction history

· Credit history

· Social security number

· Checking account information

When you are no longer our customer, we continue to share your information as described in this notice.

How We Collect Information

All financial companies need to share customers’ personal information to run their everyday business.  The section below, we list the reasons financial companies can share their customers’ personal information, the reason, Salem Co-operative Bank

chooses to share, and whether you can limit this sharing.

Reasons we can share your personal information

· 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. We also share for purposes of servicing your account or loan

or as required by law.  

· For our marketing purposes to offer our products and services to you.

Instances We Do Not Share

· For joint marketing with other financial companies.

· For our affiliates’ everyday business purposes - information about your transactions and experiences.

· For our affiliates’ everyday business purposes – information about your creditworthiness.

· For non-affiliates to market to you.

Confidentiality and Security

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.   We also maintain other physical, electronic

and procedural safeguards to protect this information and we limit access to information to those employees for whom access is appropriate. All employees at Salem Co-operative Bank sign a confidentiality agreement upon employment and adhere to a strict

code of conduct that governs the practice of protecting our customers’ data.

How Does Salem Co-operative Bank Collect 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 collect your personal information from others, such as credit bureaus, 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 non-affiliates to market to you

State laws and individual companies may give you additional rights to limit sharing.  See below for more on your rights under state law.

Definitions

· Affiliates:  Companies related by common ownership or control. They can be financial and non-financial companies.

o Salem Co-operative Bank has no affiliates.

· Non-affiliates:   Companies not related by common ownership or control.  They can be financial and non-financial companies.

o Salem Co-operative Bank does not share with non-affiliates so they can market to you.

· Joint Marketing:  A formal agreement between non-affiliated financial companies that together market financial products or services to you.

o Salem Co-operative Bank doesn’t jointly market.

Corrections and  Questions

If you have additional questions about privacy, please contact us at:

       Salem Co-operative Bank

       Attention:  Privacy Officer      

       3 South Broadway, Post Office Box #67

       Salem, New Hampshire 03079-0067

       Phone:  (603) 898-2153 or (888) 546-5827

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 policy by visiting our office or by visiting our website at:  www.salemcoop.com

Other Important Information

For Massachusetts- We will not share personal information from deposit or share relationships with non-affliates either for them to market to you or for joint marketing without your authorization.