Privacy Policy

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.

How does Covenant Bank 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.

How does Covenant Bank collect my personal information?

We collect your personal information, for example, when you:

Open an account or deposit money
Pay your bills or apply for a loan
Use your credit or debit card

We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.

What does Covenant Bank do with my personal information?

The types of personal information we collect and share depend on the product or service you have with us. The information can include:

Social Security number and income
Account balances and payment history
Credit history and credit scores

When you are no longer our customer, we continue to share your information as described in this notice.

All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Covenant Bank chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information	Does Covenant Bank share this information?	Can you 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	Yes	No
For our marketing purposes – to offer our products and services to you	Yes	No
For joint marketing with other financial companies	No	N/A
For our affiliates’ everyday business purposes – information about your transactions and experience	No	N/A
For our affiliates’ everyday business purposes – information about your creditworthiness	No	N/A
For our affiliates to market to you	No	N/A
For our non-affiliates to market to you	No	N/A

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 non-affiliates 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 non-financial companies.

Non-affiliates: Companies not related by common ownership or control. They can be financial and non-financial companies.

Covenant Bank does not share your personal information with non-affiliates so they can market to you.

Joint marketing: A formal agreement between non-affiliated financial companies that together market financial products or services to you.

Non-deposit Investment Product Disclosure

We are pleased to offer our customers a variety of non-deposit investment and insurance products and services through our non-affiliate relationship with Community Brokerage Services, Inc.

Non-deposit investment products are NOT DEPOSITS and are NOT INSURED BY FDIC. They are NOT GUARANTEED by Covenant Bank or Community Brokerage Services, Inc.

Investment/Securities products CARRY INVESTMENT RISK, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED.

For additional information, please call us at 773-533-6900.

FDIC Insures Your Deposits Up To $250,000

On July 21, 2010 the maximum deposit insurance amount was raised to $250,000. The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category. For additional information regarding FDIC’s deposit insurance coverage use the FDIC’s Electronic Deposit Insurance Estimator (EDIE) and deposit insurance publications located on the FDIC’s website “Are My Deposits Insured?” In addition, you can call the FDIC at 1-877-ASK-FDIC (1-877-275-3342).

Notice of Changes in Temporary FDIC Insurance Coverage for Transaction Accounts

All funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules.

The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts (“IOLTAs”). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

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