The Community Loan Company - Privacy Policy

The directors, management, and employees of The Community Loan Company recognize and respect the privacy expectations of our customers. The confidentiality and security of your personal information is important to us, and we have taken steps to ensure your continued confidence in our institution. We have established policies and guidelines to maintain the highest level of confidence.

It is our policy to collect, retain, and use information about customers only where such information is necessary and allowed by law to administer the business of providing products, services, and other financial opportunities to our customers.

The Community Loan Company has established procedures to ensure the accuracy of customers’ financial information and that it is current and complete in accordance with reasonable commercial standards. It is our policy to address any requests to correct any inaccurate information in a timely manner.

The Community Loan Company maintains appropriate security standards and procedures regarding unauthorized access to customer information. It is the policy of our company to take disciplinary measures to enforce employee privacy responsibilities.

The Community Loan Company obtains information from applications, transaction information, and consumer report information.

The Community Loan Company does not, nor intends in the future, to disclose any personal financial information or other personally identifiable data of any current or former customer to any nonaffiliated third party except as permitted by law. If any personal financial information or other personally identifiable data is provided to a third party, it is our policy to insist that the third party adhere to similar privacy principles that provide for keeping such information confidential.

By law in certain situations we may disclose personally identifiable information. These situations include, but are not limited to:

  • Permissible under the Fair Credit Reporting Act, we may share information regarding our transactions and experiences with you with other organizations that are our affiliates. This information includes data, such as payment history on loans held by our company.
  • To a consumer reporting agency under the Fair Credit Reporting Act.
  • To companies who perform transaction processing for our company:
    • If the transaction, service or product is requested or authorized by you
    • To maintain service on your account
    • In connection with securing a transaction, secondary market sale, (including servicing rights), or similar transaction related to a consumer
  • Disclosures that are necessary to enforce our company’s legal or contractual rights or any other person’s rights who is engaged in carrying out the financial transition or providing a service.
  • Disclosures required in the ordinary course of business, such as settlement of claims or benefits, providing information to the consumer or his/her agent, and to bill, process, or clear items in the normal course of business.
  • To provide information to persons that are assessing our company’s compliance with industry standards, and the company’s attorneys, accountants, consultants and auditors.
  • To the extent permissible under the Right to Financial Privacy Act.
  • To protect against or prevent actual or potential fraud, unauthorized transactions, claims, or other liability.
  • To comply with federal, state, or local laws, rules, and other applicable legal requirements.

The Community Loan Company makes this policy, and its management and employees stand ready to assist you with any concerns regarding your financial privacy expectations.