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Privacy StatementAt Lake Shore Savings, protecting the privacy and confidentiality of your personal information is important to us and our employees. You have chosen to do business with Lake Shore Savings, and we recognize our obligation to keep the information you provide to us secure and confidential. Protecting your privacy at Lake Shore Savings, along with your financial assets, is one of our most important responsibilities. We value your business and the trust you have in Lake ShoreSavings. This Privacy Policy applies to (and in this Privacy Policy "we," "us" and "our" refer to) Lake Shore Savings Bank and all affiliated companies including Lake Shore Bancorp. As required by federal law, we send our privacy notice to our current consumer customers on an annual basis. This privacy notice replaces all privacy notices previously issued by us and may be amended by us at any time. If we make a material change to our privacy policy, we will provide our current consumer customers with a revised privacy notice that explains our new policy. A copy of our privacy policy is available on request or by visiting our Web site at www.lakeshoresavings.com. Information That We Collect If you apply for a loan or a new account we ask you to provide information about your financial status, such as employment, income, monthly expenses, and assets, as well as identifying information, such as your address, telephone number, and Social Security number. We collect nonpublic personal information about you from the following sources: - Information we receive from you on applications or other forms - Information about your transactions with us - Information about your transactions with nonaffiliated third parties - Information from a consumer reporting agency such as credit scores or credit histories How We Use This Information The information we collect is used to help us deliver the services you've requested. Who Has Access to This Information-Within Lake Shore Savings Lake Shore Savings Bank employees are permitted access to the information they need to perform their jobs on your behalf. We maintain strict internal policies against unauthorized disclosure or use of client information by employees. Companies That You Ask Us to Share With From time to time, we may make available the following kinds of non-public personal information about our customers to companies that perform services on our behalf (for example, check printing and data processing companies.) Outside Service Providers We have arrangements with companies that are essential for our own services to operate properly. For example, we work with firms that enable Online Banking, and process account statements for Lake Shore clients. These companies work at our direction, and only receive the client information necessary for them to perform these functions. They are required to safeguard your information and only use it for authorized purposes, and within the guidelines established to protect client information. Consumer Reporting Agencies (Credit Bureaus) It is standard banking industry practice and within federal and state law for Lake Shore Savings to routinely provide data about client loan repayment and transactions to these agencies and other creditors. We may report information about your account(s) to credit bureaus. Late payments, missed payments, or other defaults on your account(s) may be reflected in your credit report. Courts and Government Bodies Certain federal and state laws may require us to share information about you. For example, if you are involved in a legal matter with a third party, we may be ordered to provide information to a court or other party. In these circumstances, only the specific information required by law, subpoena, or court order will be shared. Former Clients We treat information about our former customers the same as we treat information about our current customers. How We Protect Your Privacy Online Lake Shore Savings will never send emails asking for personal or account information, such as passwords, Social Security numbers, PINs, credit or Check Card numbers. In most instances, we will not send you emails unless you have initiated an email dialogue with us; you have previously requested us to communicate with you in this manner; and/or the email is about your relationship with the bank. Fraudulent emails and Web sites can appear to be from legitimate companies and include their images and logos. They often have a sense of urgency about them and state that if you fail to update or confirm certain information, access to your accounts will be suspended. These emails are not authorized by Lake Shore Savings and are fraudulent. How You Can Protect Your Privacy The most effective privacy policy is the precautions you take to guard against the disclosure and unauthorized use of your account and personal information: - Never provide personal information (including Social Security numbers or account and credit card information) over the phone unless you have initiated the call and know with whom you are speaking. - Safeguard checks, account statements, and ATM, credit and debit cards. Report any lost or stolen items immediately. - Memorize personal identification numbers (PINs) and avoid writing PINs, Social Security numbers, or credit card 'account numbers where they can be easily found – including personal checks. - Destroy any preapproved credit offers that you don't intend to respond to. - Review your credit report regularly to confirm that all information is accurate. For a free copy of your credit report, contact www.annualcreditreport.com or 1-877-322-8228. If you have questions, concerns, or comments about our privacy practices or the way your information is maintained and used, we'd like to hear from you. Please write us at: Lake Shore Savings Bank Attn: Information Security Officer 128 East 4th Street Dunkirk, NY 14048 Revised 3/2009 |
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