Privacy Policy

Wilmington Savings Bank Privacy Policy

Statement of Intent

It is the policy of Wilmington Savings Bank (“Bank”) to comply fully with the Privacy of Consumer Financial Information regulation.

Policy Statement

It is the policy of the Bank that both the financial records of our customers and the relationships between the Bank and our customers are confidential. Customers have a reasonable expectation of privacy from the federal government scrutiny. The Act does not cover attempted access by state governmental agencies, local law enforcement officials, or private individuals. The Act only applies to federal agency requests for information on customers that are individuals or partnerships of five or fewer individuals.

The Bank has a duty to protect the confidential nature of our customers’ financial records. As such, it is the general policy that employees shall not divulge financial information or records to anyone outside the bank except as specifically authorized and consistent with the requirements of this Act, and other laws and regulations regarding the privacy of customer information.

Financial institutions choose how they share personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell a consumer how the Bank may collect, share, and protect their personal information. The Banks privacy policy applies to all consumers of the Bank. This includes all of consumer customers who have a relationship with us, such as:

• Deposit Accounts
• Loan Accounts
• Safe Deposit Boxes

Reasons the Bank shares customer personal information

• Everyday business purposes such as: process transactions, maintain account(s), respond to court orders and legal investigations, and report to credit bureaus
• To offer products and service
• Joint marketing with other companies

Terms and Definitions

For purposes of this policy, the Bank uses the following terms and definitions:

• Non-public personal information means information about customers that we collect in connection with providing a financial product or services. Nonpublic personal information does not include information that is available from public sources, such as telephone directories or government records.
• An affiliate is a company related by common ownership or control. They can be financial and non-financial companies. The Bank does not currently have any affiliates.
• A non-affiliate is a company that is not related by common ownership or control. They can be financial and non-financial companies.
• Joint Marketing is a formal agreement between nonaffiliated financial companies that together market financial products or services to you.

What the Bank Does:

• To protect our customer’s personal information from unauthorized access and use, the Bank uses security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. The Bank also restricts access to nonpublic personal information about our customers to those employees who need to know that information in order to provide products or services.
• The Bank collects customer personal information when a customer:
  • Opens an account, deposits money, pays their bills, apply for a loan, use a credit or debit card.
• The Bank collects nonpublic personal information about our customers from the following sources:
  • Information we receive from the customer on applications or other bank forms,
    information about customer transactions within the Bank, information about
    customer transactions with nonaffiliated third parties, and information from
    consumer reporting agencies.

Federal law gives the customer the right to limit only:

• Sharing for affiliates’ everyday business purposes – information about their creditworthiness
• Affiliates from using the customer information for marketing purposes
• Sharing for non-affiliates marketing
• When a customer limits sharing for an account that is held by others as well, the decision applies to everyone on the account.

The Bank will share customer personal information for everyday business purposes and to offer products and services for the Bank. This includes joint marketing with other financial companies. This sharing cannot be limited by the consumer and is permitted by law.