Patriot Act

Member Notice:

To our account holders and potential account holders:

In accordance with Section 326 of the USA Patriot Act of 2001, which requires the Lenco Credit Union to help the government fight the funding of terrorism and money laundering activities, Lenco Credit Union is required to obtain basic identifying information from you and verify that information when you open a new account.

This means the Lenco Credit Union staff will ask you for some basic information such as your name, address, date of birth, and other information designed to help us identify you. Lenco Credit Union staff will also ask to see documents identifying you such as a social security card, driver’s license, passport, and/or some other government-issued document.

In some cases, identification will be requested for those individuals conducting business with Lenco Credit Union prior to the effective date of the member identification requirements. This is because original documentation was not obtained with the opening of the account or Lenco Credit Union is unable to form a reasonable belief that it knows the true identity of the existing account holder.

In all cases, protection of our member’s identity and confidentiality is the Credit Union’s pledge to you. Lenco Credit Union appreciates your patience and understanding as we all do our part in complying with the new account identification procedures required by the federal USA Patriot Act of 2001.

Respectfully,

The Board of Directors, Staff and Members of the Lenco Credit Union

USA Patriot Act (Section 326)

Pursuant to the USA Patriot Act, Section 326, Lenco Credit Union is required to verify the identity of individuals applying for membership and opening new accounts or services with the credit union. Information we are required to obtain include:

  • Name
  • Street address (and mailing address, if different from street address)
  • Identification number (SSN, passport number and country of issue, alien ID card number)
  • Date of birth (birth certificate required for minor accounts)
  • Copy of current government issued photo ID (driver’s license, state ID, military ID, etc.)

Additional data may also be gathered depending on the type of account to be opened. Data on existing members may be gathered as an additional product or service is requested.

The USA Patriot Act also requires Lenco Credit Union to maintain all records of any documentary evidence used for verifying the member for at least five years after the date an account is closed.

Confidentiality of the information maintained by the credit union will be maintained as required under our Privacy Policy.

To obtain a copy of the USA Patriot Act in its entirety please visit:

http://www.fincen.gov/statutes_regs/patriot/

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PRIVACY POLICY

WHAT DOES LENCO CREDIT UNION DO WITH YOUR PERSONAL INFORMATION?

 

Please Note:

  • Call 517-263-0851 or toll-free 866-905-3636 and a Member Service Representative will assist you with your opt-out or
  • Visit us online lenco.org and click on “Contact Us” to send a secure message letting us know your opt-out preferences or
  • Write us at O. Box 338, Adrian MI 49221.

If you are a new Lenco Credit Union member, we can begin sharing your information 30 days from the date we sent this notice.

When you are no longer a Lenco Credit Union member, we continue to share your information as described in this notice.

However, you can contact us at any time to limit our sharing.

QUESTIONS? Call 517-263-0851 or toll free at 866-905-3626 or go to www.lenco.org.

Who is providing this notice?                   Lenco Credit Union

 

Revised 05/31/21