Magyar Bank Privacy Policy
At Magyar Bank, we are committed to providing you with the personal, responsive service you deserve, while at the same time keeping your personal information secure and confidential. It's important for you to know that we do not share nonpublic personal information with nonaffiliated third parties. This policy will help you understand how we protect your information.
IMPORTANT INFORMATION ABOUT YOUR PRIVACY
Notice Of Your Financial Privacy Rights
We, our, and us, when used in this notice, mean Magyar Bank. This is our privacy notice for our customers. When we use the words "you" and "your" we mean the following types of customers:
- All of our consumer customers who have a continuing relationship with us, such as:
- Deposit account
- Loan account
- Safe deposit box
- Retail installment contract we hold and service
- Self-directed Individual Retirement Account where we act as custodian or trustee
- Financial, investment, or economic advisory services (for a fee)
- Home mortgage brokerage
- Alternative investments
- All former customers
We will tell you the sources for nonpublic personal information we collect on our customers. We will tell you what measures we take to secure that information.
We first define some terms.
Nonpublic personal information means information about you that we collect in connection with providing a financial product or service to you. Nonpublic personal information does not include information that is available from public sources, such as telephone directories or government records.
An affiliate is a company we own or control, a company that owns or controls us, or a company that is owned or controlled by the same company that owns or controls us. Ownership does not mean complete ownership, but means owning enough to have control.
A nonaffiliated third party is a company that is not an affiliate of ours.
THE INFORMATION THAT WE COLLECT
We collect nonpublic personal information about you from the following sources:
- Information we receive from you on applications or other forms
- Information about your transactions with us
- Information about your transactions with our affiliates
- Information about your transactions with nonaffiliated third parties
- Information from a consumer reporting agency
NONPUBLIC PERSONAL INFORMATION
We do not disclose your nonpublic personal information to anyone, except as permitted by law.
AUTHORIZED SHARING
We may disclose all of the information we collect, as described above to companies and non-affiliated third parties that perform marketing services on our behalf or to other financial institutions with whom we have joint marketing agreements.
Federal law allows us to disclose this information to companies that perform marketing services on our behalf. You do not have a right to opt out of the disclosure of this information. We may also disclose nonpublic personal information about you to nonaffiliated third parties as permitted by law.
Types of BusinessesHere are the types of businesses with whom we may disclose nonpublic personal information for outside marketing purposes:
- Service providers that perform marketing services for us
- Telemarketing companies
- Direct sales companies
Here is why we may disclose nonpublic personal information about you to companies that perform marketing services on our behalf:
- To provide our customers with information about additional products and services
NONPUBLIC PERSONAL INFORMATION AND FORMER CUSTOMERS
If you decide to close your account(s) or become an inactive customer, we will follow the privacy policies and practices as described in this notice.
THE CONFIDENTIALITY, SECURITY AND INTEGRITY OF YOUR NONPUBLIC PERSONAL INFORMATION
We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information. Questions: Contact our Privacy Officer James Mazillo (732) 342-7600 x146.
