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Privacy Policy

February 8, 2023

If you have any questions about your rights as a user of this service, you can reach the administrator by e-mail at: [email protected]

The Bank of Elk River understands the special duty that financial institutions have to safeguard our customer's sensitive information. This information may be required to be obtained by law or sought by the institution for proper business purposes, and such personal information is also vital to our ability to provide our customers with quality service.

The Bank of Elk River does not collect personal identifying information about site users except when specifically and knowingly provided by such users. Once you have provided personal identifying information, it will only be used for purposes of managing the website or for such other purposes as described at the point of data collection.

Our institution recognizes the reasonable expectation of privacy for all of our customers and the importance of protecting that privacy. The American Bankers Association, Consumer Bankers Association, and The Bankers Roundtable have developed joint industry privacy principles which are itemized below. The Bank of Elk River subscribes to these principles as one method to protect customer privacy.

The Principles

  1. Recognition of a Customer's Expectation of Privacy The Bank of Elk River recognizes and respects the privacy expectations of our customers.
  2. Use, Collection and Retention of Customer Information It is the policy and practice of the bank to collect, retain and use information about consumers and customers only where the bank believes the gathering of such information would be useful and allowed by law to administer the bank's business and/or provide products, services, or opportunities to its customers.
  3. Maintenance of Accurate Information Procedures are established to ensure that all customer financial information is accurate, current and complete in accordance with reasonable commercial standards.
  4. Limiting Employee Access to Information Only employees with a legitimate business reason for knowing personally identifiable customer information shall have access to such information.
  5. Protection of Information via Established Security Procedures We maintain physical, electronic, and procedural safeguards that comply with federal regulations to protect your nonpublic personal information.
  6. Restrictions on the Disclosure of Account Information The Bank of Elk River collects, retains, and uses information about individual customers as permitted by law and in administering our business and to provide products, services, and other opportunities to customers. This information is obtained from application information, transaction information, and consumer report information.

    Federal law allows us to disclose the information we collect, as described above, to companies that perform marketing services on our behalf or to other financial institutions with which we have joint marketing agreements.
  7. Maintaining Customer Privacy in business Relationships with Third Parties Third parties that receive personally identifiable customer information will adhere to strict privacy policies in keeping such information confidential.
  8. Disclosure of Privacy Principles to Customers The bank's privacy notice will be provided to customers initially and in the event a change has been made to the bank's privacy policy.

Effective Date: 2/2019