However rapidly we may respond to changes in technology and data processing, we at Dakota State Bank also take pride in our adherence to the more old-fashioned virtue of customer confidentiality. When a customer opens an account with us, that customer provides us with private financial and personal information, and we are committed to maintaining the confidentiality of that information. Our customers are not only protected by federal and state laws, but by Dakota State Bank’s commitment to uphold both the spirit and the letter of those laws. Our commitment is described in this Customer Privacy Statement.
First, we define the following terms:
- We, our, and us means Dakota State Bank.
- 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. Dakota State Insurance Agency is an affiliate of Dakota State Bank.
- A nonaffiliated third party is a company that is not an affiliate of ours.
Information Collection
As a financial institution, the Dakota State Bank maintains information and data about our customers for several reasons. We have learned that the more we know about our customers, the better we can understand their often unique financial needs and provide them with appropriate products and superior service.
We also collect and analyze customer information as the first step in product development. Our goal is to spot trends or changes in the way our customers manage their finances. With this constantly updated information, we are able to create new products and services or improve existing ones, giving you more effective money management tools.
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 or others;
- Information about your transactions with nonaffiliated third parties; and
- Information we receive from a consumer reporting agency.
There are some cases in which we gather information to comply with laws and regulations governing the financial industry. For example, we are required by federal regulations to obtain a tax identification number (generally a social security number) for many of our accounts, including all savings, checking, or investments accounts that pay interest.
We use some of the data we collect to maintain the security of your account(s) and to protect the privacy of your financial information. We must be able to positively identify you and your products and services to prevent access by unauthorized individuals.
We restrict access to your personal and account information 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 regulations to guard your nonpublic personal information.
Accuracy of Information
We are committed to maintaining complete and accurate information about our customers, and we employ reasonable measures to ensure the accuracy, timeliness, and thoroughness of this information. If you think any information we have about you or your account(s) may be incorrect, please notify us immediately. We will take prompt action to make the appropriate corrections and to notify anyone with whom we may have shared inaccurate information.
Sharing Customer Information
We do not disclose any nonpublic personal information about customers or former customers to anyone, including non-affiliated third parties, except as permitted by law. For example, we are required to share your financial information with parties named in a lawsuit or administrative action when we are served with a subpoena or court order and with federal or state regulatory authorities, such as banking examiners or the Internal Revenue Service, as authorized by federal or state law. Consistent with the practice of other financial institutions, we also share information about you and your account(s) with us with reputable credit reporting agencies as authorized under federal law and with others who may receive certain information from us under particular circumstances, but only as lawfully permitted or required.
Employee Access
An important part of our employee orientation program is the emphasis we place on customer confidentiality. All of our employees are aware of their responsibility with respect to customer information. Only employees who need customer information to perform their duties are authorized to access customer information.
Protection of Information
Dakota State 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.
If you decide to close your account(s) or become an inactive customer, we will adhere to the privacy policies and practices as described in this policy.
E-MAIL SECURITY
Information sent through e-mail is not secure. E-mail options may be provided in this website, but should not be used to send confidential information to us. E-mail should only be used to communicate non-sensitive or non-confidential information to us. If confidential information is requested through an e-mail, it will be provided to you in a more secure manner, rather than by an e-mail reply.
Your e-mails to Dakota State Bank may be stored to meet legal and regulatory requirements. Your e-mail address will not be used for marketing solicitations by Dakota State Bank nor will your e-mail address be sold or given to any other organization.
ON-LINE BANKING SECURITY
Dakota State Bank works with an outside company to provide our customers with on-line banking. Both the outside company and Dakota State Bank are committed to providing you this service without compromising your information. In order to access on-line banking, you will need a personal ID and a password. To help protect your information, it is recommended that you not share your ID or password with others, that you change your password on a regular basis, and that you not leave your computer signed on to your on-line banking. |
