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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.
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
What We Do
How does Preferred Bank protect my information? To protect your nonpublic personal information for 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, affiliates 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 an questions please call (888) 673-1808 or visit us at www.preferredbank.com