Privacy Policy

At Arcola First Bank, the basis of each customer relationship is trust. We know that whether you are an existing customer, or considering doing business with Arcola First Bank, you have an interest in how we collect, retain and use information about you and your relationship with us.

We have an obligation to honor your trust, beginning with protecting the confidential information you share with us. We believe that your privacy should not be compromised. At the same time, we want to offer you the array of financial products and services you need to accomplish your financial goals. We believe we can do both through the privacy policy outlined below.

At Arcola First Bank, we believe the confidentiality and protection of customer information is one of our fundamental responsibilities. And while information is critical to providing quality service, we recognize that one of our most important assets is our customers’ trust. The six Privacy Principles below have been endorsed by the major banking groups, of which Arcola First Bank is a member. We use these Privacy Principles to guide us in dealing with customer information. Following the Privacy Principles is additional information regarding what type of information Arcola First Bank collects, how it is used, and with whom and under what circumstances it will be shared.

Financial institutions should recognize and respect the privacy expectations of their customers and explain principles of financial privacy to their customers in an appropriate fashion.

Financial institutions should collect, retain and use information about individual customers only where the institution reasonably believes it would be useful (and allowed by law) to administering that organization’s business and to provide products, services and other opportunities to its customers.

Financial institutions should establish procedures so that a customer’s financial information is accurate, current and complete in accordance with reasonable commercial standards. Financial institutions should also respond to requests to correct inaccurate information in a timely manner.

4. Limiting Employee Access to Information

Financial institutions should limit employee access to personally identifiable information to those with a business reason for knowing such information

Financial institutions should educate their employees so that they will understand the importance of confidentiality and customer privacy. Financial institutions should also take appropriate disciplinary measures to enforce employee privacy responsibilities.

5. Protection of Information via Established Security Procedures Financial institutions should maintain appropriate security standards and procedures regarding unauthorized access to customer information.

Financial institutions should not reveal specific information about customer accounts or other personally identifiable data to unaffiliated third parties for their independent use, except for the exchange of information with reputable information reporting agencies to maximize the accuracy and security of such information or in the performance of bona fide corporate due diligence, unless

1) the information is provided to help complete a customer initiated transaction;

2) the customer requests it; 3) the disclosure is required by/or allowed by law (e.g., subpoena, investigation of fraudulent activity, etc.); or 4) the customer has been informed about the possibility of disclosure for marketing or similar purposes through a prior communication and is given the opportunity to “opt out.”

We accumulate information about our customers from a variety of sources. For loan and deposit accounts, information regarding your financial status, such as employment, income, etc. comes from you voluntarily, in person, by mail, or through our web site. Arcola First Bank develops other data as a function of providing a product or service to you. Still other information is obtained from outside sources, such as credit bureaus and other creditors. We may also obtain demographic and household information about you from specialized firms.

We collect, retain, and use information about you only where we reasonably believe that it will help us to:

At Arcola First Bank, we work hard to ensure that your financial information is accurate, current and complete. We also pledge to respond to requests to correct inaccurate information in a timely manner. Please let us know immediately if you believe that our records contain inaccurate or incomplete information about you, or if anything changes, such as your name and address.

At Arcola First Bank, employee access to personally identifiable customer information is limited to those with a business reason to know such information, either to assist you in completion of transactions or in the sale of additional financial services. Employees are educated on the importance of maintaining the confidentiality of customer information and on these Privacy Principles. Because of the importance of these issues, all Arcola First Bank employees are responsible for maintaining the confidentiality of customer information and employees who violate these Privacy Principles will be subject to disciplinary measures.

At Arcola First Bank, we are 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 safeguard information according to established security standards and procedures.

It is the bank’s policy not to reveal specific information about customer accounts or other personally identifiable data to unaffiliated third parties for their independent use, except for the exchange of information with reputable information reporting agencies to maximize the accuracy and security of such information or in the performance of bona fide corporate due diligence or business matter, unless

When the Bank conducts business with third parties, it requires its vendors and suppliers to maintain similar standards of conduct regarding the privacy of personally identifiable customer information provided to them.

Providing Privacy Information to Customers and Responding to Inquiries At Arcola First Bank, we recognize and respect the privacy expectations of our customers. We want our customers to understand our commitment to privacy in our use of customer information. As a result of our commitment, we have developed this Privacy Policy which is made readily available to our customers.

Arcola First Bank provides a copy of a policy notice summarizing this policy when we establish a customer relationship with a consumer, and thereafter in advance of any subsequent change to our Privacy Policy and procedures.

Customers who have questions about these Privacy Principles or have a question about the privacy of their customer information should call Arcola First Bank at 217-268-4911; write to us at Arcola First Bank, Attention Privacy Officer, P. O. Box 100, Arcola, IL. 61910. Please include your name, address and social security number.