FACTS

What Does Preferred Bank Do With Your Personal Information?
Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
What? The types of personal information we collect and share depend on the product or service you have with us. This information can include:

  • Social Security number and income
  • Account balances and payment history
  • Credit history and credit score

    • When you are no longer our customer, we continue to share your information as described in this notice.
    How? All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Preferred Bank chooses to share; and whether you can limit this sharing.
    Reasons we can share your personal information Does Preferred Bank share? Can you limit this sharing?
    For our everyday business purposes - such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus Yes No
    For our marketing purposes - to offer our products and services to you No We Don't Share
    For joint marketing with other financial companies No We Don't Share
    For our affiliates’ everyday business purposes - information about your transactions and experiences No We Don't Share
    For our affiliates' everyday business purposes - information about your creditworthiness No We Don't Share
    For our affiliates to market to you No We Don't Share
    For nonaffiliates to market to you No We Don't Share

    Who We Are

    How does Preferred Bank protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.
    How does Preferred Bank collect my personal information? We collect your personal information, for example, when you

  • Open an account or Deposit money into an account
  • Pay your bills or apply for a loan
  • Use your debit card

    We also collect your personal information from others, such as credit bureaus or other companies.
    • Why can't I limit all sharing? Federal law gives you the right to limit only

  • Sharing for affiliates’ everyday business purposes—information about your creditworthiness
  • Affiliates from using your information to market to you
  • Sharing for nonaffiliates to market to you

    State laws and individual companies may give you additional rights to limit sharing.
    • Definitions
    Affiliates Companies related by common ownership or control. They can be financial and nonfinancial companies.

  • Preferred Banks has no affiliates
    • Nonaffiliates Companies not related by common ownership or control. They can be financial and nonfinancial companies.

  • Preferred Bank does not share with nonaffiliates so they can market to you
    • Joint Marketing A formal agreement between nonaffiliated financial companies that together market financial products or services to you.

  • Preferred Bank has no formal joint marketing agreements.

    • Thanks for choosing Preferred Bank