Magna Bank places great importance in protecting customer information. Because of the trust and confidence you place in us by selecting Magna Bank as your financial institution, we want you to understand what type of information we collect, how we use information we collect, and how we protect your information.

Information We Collect

We collect nonpublic personal information about you from the following sources:

• Information we receive from you on applications and other forms;
• Information about your transactions with us, our affiliates, or others; and
• Information we receive from a consumer reporting agency.

“Nonpublic personal information” is nonpublic information about you that we obtain in connection with providing a financial product or service to you. For example, nonpublic personal information includes information regarding your account balance, payment history, and overdraft history.

Information We Disclose

We do not disclose any nonpublic personal information about our customers or former customers to anyone, except as permitted by law, such as sending information returns to the Internal Revenue Service, responding to subpoenas, and providing information to consumer reporting agencies; i.e. credit bureaus.

We may disclose information we collect, as described above, to companies that perform marketing services on our own behalf or to other financial institutions with which we have joint marketing agreements.

Procedures that Protect the Confidentiality and Security of Your Information

We restrict access to nonpublic personal information about you to those employees and vendors who need to know such 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.

To maintain the trust and confidence you place in us, Magna Bank is committed to the protection of your personal information. If you should close your account(s) or become an inactive customer, we will continue to adhere to the privacy policies and practices as described in this notice.