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Privacy Policy

What Does Preferred 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 and Account transactions Transaction history and Payment history 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 Preferred Bank chooses to share; and whether you can limit this sharing.

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 and Account transactions
Transaction history and Payment history

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 Preferred Bank chooses to share; and whether you can limit this sharing.

Reasons We Can Share Your Personal Information	Does Preferred 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 our affiliates to market to you	NO	WE DON'T SHARE

Who We Are
Who is providing this notice?	Preferred Bank; https://www.preferredbank.com/about-us/our-company

What We Do
How does Preferred Bank protect my information?	To protect your nonpublic 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 restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you.
How does Preferred Bank collect my information?	We collect your personal information, for example, when you open an account or deposit money pay your bills or apply for a loan use your debit or credit card We also 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 purposes – information about your creditworthiness affiliates from using your information to market you sharing for non-affiliates to market you

What We Do

How does Preferred Bank protect my information?

To protect your nonpublic 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 restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you.

How does Preferred Bank collect my information?

We collect your personal information, for example, when you

open an account or deposit money
pay your bills or apply for a loan
use your debit or credit card

We also 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 purposes – information about your creditworthiness
affiliates from using your information to market you
sharing for non-affiliates to market you

Definitions
Affiliates	Companies related by common ownership or control. They can be financial and non-financial companies. Preferred Bank does not have any affiliates
Non‑Affiliates	Companies not related by common ownership or control. They can be financial and non-financial companies. Preferred Bank does not share with non-affiliates.
Joint Marketing	A formal agreement between non-affiliated financial companies that together market financial products or services to you. Preferred Bank does not jointly market.

Questions?
If you have any questions please call (888) 673-1808 or visit us at www.preferredbank.com