- Introduction To The Privacy Policy
- Recognition Of Customers’ Expectation Of Privacy
- Customer Benefits Of Institution’s Information Management Practices
- Maintenance Of Accurate Information
- Limitations On Employee Access To Information
- Protection Of Information Via Established Security Procedures
- Restrictions On The Disclosure Of Account Information
- Maintaining Customer Privacy In Business Relationships With Third Parties
- Providing Privacy Information To Customers
And Responding To Inquiries
1) Introduction To The Privacy Policy
At Southport Bank, our mission is to meet the needs of our customers. As financial services professionals entrusted with sensitive non-public, personal and financial information, we respect the privacy of consumers, customers and former customers. We are committed to treating the nonpublic, personal and financial information responsibly. It is the Bank's policy not to share specific information about consumers, customers or former customer accounts or any other personally identifiable data to unaffiliated third parties except as allowed by law. Our Customer Information Privacy Principles below serve as standards for all Southport Bank employees for the collection, use, retention and security of individual customer information.
2) Recognition Of Customers’ Expectation Of Privacy
At Southport Bank, we believe the confidentiality and protection of consumers, customer and former customer information is one of our fundamental responsibilities. And while information is critical to providing quality service, we recognize that one of our most important assets is our customers' trust. Thus, the safekeeping of customer information is a priority for Southport Bank.
3) Customer Benefits Of Institution’s Information Management
Practices
Information about consumers and customers is accumulated from a variety of sources. Some information is provided to Southport Bank directly by customers themselves. Other data is developed by Southport Bank as a function of providing a product or service to a customer. Still other information is obtained from outside sources. We will limit the use and collection of information about our customers and former customers to that which is necessary to make business decisions, provide products, services and other opportunities to our customers, or is required by law. This means that we will use information to help us identify and mitigate potential risks or loss to Southport Bank. We will use information to help identify additional products or services which we believe customers might want to know about. We will use this information only in accordance with the principles set out in this policy.
4) Maintenance Of Accurate Information
We continually strive to maintain complete and accurate information about you and your accounts. The bank has adopted procedures to ensure that customer information is accurate and have established error resolution procedures in cases where information is outdated or is otherwise inaccurate. Should you believe that our records contain inaccurate or incomplete information about you, please notify us. We will investigate your concerns and correct any inaccuracies.
5) Limitations On Employee Access To Information
Each Southport Bank employee is required to follow our Company's "Code of Conduct," which states that all nonpublic, personal consumer, customer and former customer information is considered private and privileged and is used solely for the purpose of providing you with the finest service available.
6) Protection Of Information Via Established Security Procedures
Southport Bank is committed to the security of your financial and personal information. All of our operational and data processing systems are in a secure environment that protects your account information from being accessed by third parties. We maintain and grant access to customer information only in accordance with our internal security standards.
7) Restrictions On The Disclosure Of Account Information
It is the Bank's policy not to reveal specific information about consumers, customer and former customer accounts or any other personally identifiable data to unaffiliated third parties for their independent use, except for the exchange of information with reputable information reporting agencies to maximize the accuracy and security of such information or in the performance of bona fide corporate due diligence or business matter, unless (1) the information is provided to help complete a customer-initiated transaction; (2) the customer requests or permits it; (3) the disclosure is required by or allowed by law (e.g. subpoena, investigation of fraudulent activity, request by a regulator, etc.); or (4) the customer has been informed about the possibility of disclosure for marketing or similar purposes through a prior communication and given the opportunity to decline (i.e. "opt out"). We will not disclose personal financial information to nonaffiliated third parties for their independent telemarketing or direct mail marketing of non-financial products and services.
8) Maintaining Customer Privacy In Business Relationships With Third
Parties
When the Bank conducts business with third parties, it requires its vendors and suppliers to maintain similar standards of conduct regarding the privacy of personally identifiable customer information provided to them.
9) Providing Privacy Information To Customers And Responding To Inquiries
Southport Bank recognizes and respects the privacy expectations of our customers. We want our customers to understand our commitment to privacy in our use of customer information. As a result of our commitment, we have developed these Privacy Principles, which are made readily available to our customers. Customers who have questions about these Privacy Principles or have a question about the privacy of their customer information should call Southport Bank at 262-942-1111 or mail us at P. O. Box 68, Kenosha, WI 53141.
