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Your Financial Privacy at Virginia National Bank - Consumer Accounts Only
July, 2009
At Virginia National Bank, we treat the confidentiality of our customers as a cardinal customer expectation. When Congress enacted the Gramm-Leach-Bliley Act of 1999 (the “Financial Services Modernization Act”), it required banks and other providers of financial services and products to provide annual written notice of their privacy policies. Our commitment to confidentiality is not new. We will continue to respect and protect the privacy of the information you have entrusted to us. This notice provides you with information on how VNB collects and uses your personal customer information. This notice also details how we maintain the confidentiality and accuracy of certain information.
Information We Collect
We collect non-public personal information about you from the following sources:
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Information we receive from you on applications, personal financial statements, or other oral, written or electronic communications, such as your name, address, social security number, assets and income; |
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Information about your transactions with us, our affiliates or others, such as your account balance and payment history; |
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Information we receive from a consumer reporting agency, such as information about your creditworthiness and credit history; and |
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Information we obtain from others to verify information provided by you, such as your employment history and credit or other relationships with third parties. |
Non-public personal information does not include information that is available from public sources, such as telephone directories or government records.
Information We Disclose
We do notdisclose any non-public personal information about our customers or former customers to anyone outside of Virginia National Bank, except as required or permitted by law. For example, we may disclose information we collect about you to third parties to assist us in servicing your loan or account with us, to government entities in response to subpoenas, and to credit reporting agencies. In addition, we may disclose information we collect as described above to companies that perform marketing services on our behalf (although to date no such companies have been engaged by VNB).
Disclosure within the VNB Corporate Family
Virginia National Bank has one affiliate, VNBTrust, N.A., that is considered to be within the VNB “corporate family” because of common ownership or control. Please note, however, that as to VNBTrust, N.A. and any other companies that in the future become part of the VNB corporate family, we do not plan to share with them any application and credit-related information about you without first obtaining your consent or providing you with the right to opt out of the sharing of such information. To this end, we would provide to you instructions on how to exercise your right to opt out.
For future reference, you may wish to note that to the extent permitted by law, after notice to you of our intent to change our policy and provide you with the right to opt out, we may share information about our transactions with you, as well as your identification information, with VNBTrust and other companies that in the future may become part of the Virginia National Bank “corporate family.” The law provides that we also could share with companies in our corporate family other information about you, including:
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Information we obtain from your applications or other forms, such as your assets, income, and employment history; |
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Information we obtain from a consumer reporting agency, such as your creditworthiness and credit history; and |
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Information we obtain from others to verify information provided by you, such as your credit or other relationships with third parties. |
Accuracy of Customer Information
We believe it is vitally important that the information we maintain about you is as accurate as possible. We maintain internal controls and procedures to ensure the accuracy of your information. Should you have a question or concern about the accuracy or completeness of your information, please contact us and we will take immediate steps to correct the information or amend our records.
Information Security
We endeavor to restrict access to non-public personal information about you to those employees who need such information to perform their job responsibilities. All Virginia National Bankers work pursuant to policies and a code of conduct that strongly emphasizes confidentiality. In addition, we maintain physical, electronic and procedural safeguards that comply with federal regulations and standards to guard your non-public personal information.
Former Customers
If you decide to close your account or should your relationship with us be terminated for some other reason, we will continue to treat and safeguard your information as described in this notice.
Notice of Furnishing Negative Information
We may report information about your account to credit bureaus. Late payments, missed payments or other defaults on your account may be reflected in your credit report.
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