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.

Facts: What does Magyar 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
income
account balances
payment history
credit history
credit scores

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 Magyar Bank chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information	Does Magyar 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	Yes	No
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

Questions?

Call 1-888-990-BANK

What we do:

How does Magyar 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. We also maintain other physical, electronic and procedural safeguards to protect this information and we limit access to information to those employees for whom access is appropriate.

How does Magyar Bank collect my personal information?

We collect your personal information, for example, when you

open an account or deposit money
pay your bills or apply for a loan
use your credit or debit card

We also collect your personal information from others, such as credit bureaus, affiliates, 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.

What happens when I limit sharing for an account I hold jointly with someone else?

Your choices will apply to everyone on your account—unless you tell us otherwise.

Definitions:

Affiliates: Companies related by common ownership or control. They can be financial and nonfinancial companies.

Magyar Bank does not share with our affiliates

Nonaffiliates: Companies not related by common ownership or control. They can be financial and nonfinancial companies.

Magyar Bank does not share with non-affiliates so they can market to you.

Joint marketing: A formal agreement between nonaffiliated financial companies that together market financial products or services to you.

Magyar Bank doesn’t jointly market

Other Important Information

Magyar Bank does not knowingly market to or solicit information from children under the age of 13 in accordance with the Children’s Online Privacy Protection Act.

Magyar Bank shall comply with NJ Statute 17:16K 1 through 6 known as the “Electronic Funds Transfer Privacy Act” which states a financial institution may disclose certain information relative to an electronic fund transfer or account to a third party.

If you have any questions or concerns about how Magyar Bank protects your personal information, please call us at 1-888-990-2265.

Effective November 2024