Privacy Statement

Privacy Statement

Cornerstone Credit Union’s Privacy Commitment to You.

Doing business with a financial institution involves providing information about yourself.  At Cornerstone Credit Union, you have control over how your information is obtained, used and given out.  Your information is kept confidential and your privacy is protected.


We obtain information about you to:

  • Identify you 
  • Understand your needs and eligibility for products and services
  • Open, maintain and administer your account and provide you with financial services that meet your needs
  • Determine credit worthiness
  • Administer and manage security and risk in relation to your account and the financial services provided to you
  • Comply with legal and regulatory requirements
  • Assist in dispute resolution
  • Offer and provide you with other products and services of the credit union and its affiliates and service suppliers


If you are an individual member/customer:

  • the Income Tax Act requires us to ask for your SIN when opening an interest-bearing or investment account
  • we may use your SIN for credit matching purposes
  • we may verify some of the information you give us with your employer or your references


You can expect us to protect your privacy

Your information and the business you do with us is kept in strict confidence.  Only authorized personnel have access to your information.  We collect, use and disclose personal information only for purposes that a reasonable person would consider appropriate in the circumstances.  We do not sell your information to third parties.  Our procedures and systems are designed to protect your information from error, loss and unauthorized access.  We keep your information only as long as it is needed.  We monitor our compliance with applicable privacy legislation.


You can give - or withdraw - your consent

We need to get your express or implied consent before obtaining or using information about you, or disclosing this information to anyone.  (There are exceptions, such as when we are required or permitted by law, or it is necessary for our protection.)  You can withdraw this consent whenever you want, unless legal requirements prevent this or we are legally entitled to use the information without consent.  The provision of a Social Insurance Number for credit matching is optional and we will not deny service if you do not provide your Social Insurance Number for that purpose.

You may also ask us to stop using your Social Insurance Number for credit matching purposes at any time.

There are some exceptions to continue to have credit with the credit union; you must allow us to update your credit information.  Not allowing us to use information about you may mean we cannot provide certain products or services that may be of use to you. 


You can review and make corrections to your information

You can review your information held by the credit union and make corrections to it.  Call us or put your request in writing.  There may be a charge for such a request: if so, we will advise you beforehand.  We will respond to your request within 30 days.  If we need to extend the time, or we have to refuse your request, we will tell you why, subject to any legal restrictions.

You can choose not to receive direct marketing.

We may tell you about products or services through direct mail, telephone, or other means.  If you do not wish us to do so, contact the credit union directly.  This will not limit information that we may send to you with your account statement, or discussions with your service representative/advisor.


You can tell us you don’t want us to share information with our partners and affiliated Co-operative Financial Institutions.

Sharing your information enables us to bring suitable products and services of our partners and other members of the co-operative family of financial service providers to your attention, such as mutual funds and RESPS.  The credit union will share your information with our partners and within the Co-operative family of financial institutions, unless prohibited by law or you advise us otherwise. 

Let us know if you don't want us to use information about you as set out above, by calling the credit union directly.


The 10 Principles of Cornerstone Credit Union
 

Cornerstone Credit Union has created a detailed Privacy Code.  This code includes 10 principles to ensure we respect the confidentiality of your personal information.  This Code is based on the Canadian Standards Association Code for the Protection of Personal Information (CAN/CSA-Q830-96) and Schedule 1 of the Personal Information Protection and Electronic Documents Act.  It describes how Cornerstone Credit Union subscribes to the principles of the CSA and Federal legislative Codes. A copy of Cornerstone Credit Union’s approved code can be accessed HERE.

 

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