Madison Credit Union Privacy Policies
STANDARD PRIVACY POLICY
What does Madison Credit Union do with your financial information?
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 we collect
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 and account transactions
- Social Security number and account balances and payment history
- Social Security number and transaction history and credit history
When you are no longer our customer, we continue to share your information as described in this notice.
How we share your information
All financial companies need to share member’s personal information to run their everyday business. In the section below, we list the reasons financial companies can share their personal information; the reasons Madison Credit Union chooses to share their member’s information; and whether you can limit this sharing.
Reasons we share your personal information. You cannot 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
- For our marketing purposes—to offer our products and services to you
- For joint marketing with other financial companies
We do not share your personal information in the following instances
- For our affiliates’ everyday business purposes—information about your transactions and experiences
- For our affiliates’ everyday business purposes—information about your creditworthiness
- For our affiliates to market to you
- For nonaffiliates to market to you
Who we are
This privacy policy is being provided by Madison Credit Union and applies to Madison Credit Union products and services.
What we do
How does Madison Credit Union 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 restrict access to nonpublic personal information about you to those employees who have a specific business purpose in utilizing your data.
How does Madison Credit Union collect my personal information?
We collect your personal information, for example, when you:
- complete transactions or fill out forms
- apply for membership or apply for a loan
- We also may obtain information from your current or past employers or from other institutions where you conduct financial transactions.
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.
Definitions
Affiliates
Companies related by common ownership or control. They can be financial and nonfinancial companies.
- Madison Credit Union does not have any such affiliates.
Nonaffiliates
Companies not related by common ownership or control. They can be financial and nonfinancial companies.
- Our affiliates may include financial service providers such as shared branches.
Joint marketing
A formal agreement between nonaffiliated financial companies that together market financial products or services to you.
- Our joint marketing partners may include institutions such as insurance companies.
Other important information
We only work with companies that agree to strong confidentiality protections and limit the use of information we provide. We do not permit them to sell member information to other third parties.
If you terminate your membership with Madison Credit Union, we will not share information we collected about you, except where permitted by law.
Questions? Please call (608) 266-4750
BIOMETRIC INFORMATION PRIVACY POLICY AND CONSENT
Effective Date: 5/4/2023
Scope and Overview
This policy outlines how Madison Credit Union, its vendors, and/or the licensor of the Madison Credit Union’s consumer verification software processes biometric data collected from you for identity verification and fraud prevention purposes.
Biometric Data Defined
As used in this policy, biometric data includes “biometric identifiers” and “biometric information”. “Biometric identifier” means a retina or iris scan, fingerprint, voiceprint, or scan of hand or face geometry. As the term is used in this policy, the selfie photograph you upload to the software for use in the biometric algorithm is considered a “biometric identifier.” “Biometric information” means any information, regardless of how it is captured, converted, stored, or shared, based on an individual’s biometric identifier used to identify an individual.
Disclosure and Authorization Policy
To the extent that Madison Credit Union, its vendors, and/or the licensor of the Madison Credit Union’s consumer verification software collect, capture, or otherwise obtain biometric data relating to a consumer, Madison Credit Union must first:
Inform each consumer that Madison Credit Union, its vendors, and/or the licensor of the Madison Credit Union’s consumer verification software are collecting, capturing, or otherwise obtaining the employee’s biometric data, and that the Madison Credit Union is providing such biometric data to its vendors and the licensor of the Madison Credit Union’s consumer verification software;
Inform the consumer of the specific purpose and length of time for which the consumer’s biometric data is being collected, stored, and used; and
Receive consent by the consumer authorizing Madison Credit Union, its vendors, and/or Madison Credit Union’s consumer verification software to collect, store, and use the consumer’s biometric data for the specific purposes disclosed by the Madison Credit Union, and for Madison Credit Union to provide such biometric data to its vendors and the licensor of the Madison Credit Union’s consumer verification software.
Madison Credit Union, its vendors, and/or the licensor of the Madison Credit Union’s consumer verification software will not sell, lease, trade, or otherwise profit from employees’ biometric data; provided, however, that the Madison Credit Union’s vendors and the licensor of the Madison Credit Union’s consumer verification software may be paid for products or services used by Madison Credit Union that utilize such biometric data.
This policy is intended to comply with all federal, state, and local laws.
Purpose for the Collection of Biometric Data
Madison Credit Union, its vendors, and/or the licensor of Madison Credit Union’s consumer verification software collect, store, and use biometric data solely for identity verification and fraud prevention purposes.
Disclosure
Madison Credit Union will not disclose or disseminate any biometric data to anyone other than its vendors and the licensor of the Madison Credit Union’s consumer verification software providing products and services using biometric data without/unless:
First obtaining consumer consent to such disclosure or dissemination;
The disclosed data completes a financial transaction requested or authorized by the consumer;
Disclosure is required by law or ordinance; or
Disclosure is required pursuant to a valid warrant or subpoena issued by a court of competent jurisdiction.
Security
Madison Credit Union shall use a commercially reasonable standard of care to store, transmit and protect from disclosure any biometric data collected. Such storage, transmission, and protection from disclosure shall be performed in a manner that is the same as or more protective than the manner in which Madison Credit Union stores, transmits and protects from disclosure other confidential and sensitive information, including personal information that can be used to uniquely identify an individual or an individual’s account or property, such as genetic markers, genetic testing information, account numbers, PINs, driver’s license numbers and social security numbers.
Retention
Madison Credit Union shall retain consumer biometric data only until, and shall request that its vendors and the licensor of Madison Credit Union’s consumer verification software permanently destroy such data when, the first of the following occurs:
The initial purpose for collecting or obtaining such biometric data has been satisfied, such as verification of consumer identity;
Request of consumer to destroy the biometric data; or
Within 30 days of consumer’s provisioning of biometric data.
Contact Information
If you have any questions about our use, storage, or security of your biometric data you can contact us at: creditunion@madisoncu.com.
BIOMETRIC INFORMATION CONSUMER CONSENT
As outlined in the “Biometric Information Privacy Policy”, I understand and consent to the collection, use, retention, storage, and/or disclosure or re-disclosure of data or images from biometric verification technology by Madison Credit Union, its vendors, and/or the licensor of the Madison Credit Union’s consumer verification software. I acknowledge that I have been given a copy of the Policy, or that the Policy has been made accessible to me, and I have had an opportunity to review it and request any additional information concerning the Madison Credit Union’s procedures and safeguards for collecting, maintaining, using, disclosing, sharing, storing, and/or destroying this data.
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