Privacy Policy

Last Updated: December 2024

Effective Date:January 1, 2024

1. Information We Collect

1.1 Personal Information

We collect personal information that you provide to us directly when you open an account, apply for our services, or interact with us. This information may include:

• Full name, date of birth, and government-issued identification numbers
• Contact information including address, email, and phone number
• Social Insurance Number (SIN) or Tax Identification Number (TIN)
• Employment information and income details
• Financial information including account balances and transaction history
• Beneficiary and authorized user information

1.2 Automatically Collected Information

When you visit our website or use our digital services, we automatically collect certain information, including:

• Device information (IP address, browser type, operating system)
• Usage data (pages visited, time spent, click patterns)
• Location data (with your consent)
• Cookies and similar tracking technologies

1.3 Information from Third Parties

We may receive information about you from third parties such as consumer reporting agencies, identity verification services, fraud prevention services, and other financial institutions as permitted by law.

2. How We Use Your Information

We use your personal information for the following purposes:

2.1 Service Delivery

• Opening and managing your accounts
• Processing transactions and providing requested services
• Verifying your identity and preventing fraud
• Communicating with you about your accounts and services
• Providing customer support and responding to inquiries

2.2 Legal and Regulatory Compliance

• Complying with applicable laws, regulations, and legal processes
• Meeting anti-money laundering and counter-terrorism financing requirements
• Reporting to regulatory authorities as required
• Maintaining records as required by law

2.3 Business Operations

• Assessing and managing risk
• Conducting internal audits and quality assurance
• Developing and improving our products and services
• Analyzing usage patterns and customer preferences
• Protecting against fraud, unauthorized transactions, and other liabilities

2.4 Marketing and Communications

With your consent, we may use your information to send you promotional materials, newsletters, and information about products and services that may interest you. You can opt out of marketing communications at any time.

3. Information Sharing and Disclosure

We do not sell your personal information. We may share your information in the following circumstances:

3.1 Service Providers

We may share information with trusted third-party service providers who perform services on our behalf, including payment processors, data analytics providers, IT service providers, and marketing agencies. These providers are contractually obligated to protect your information and use it only for the purposes we specify.

3.2 Legal Requirements

We may disclose your information when required by law, regulation, legal process, or governmental request, including to law enforcement agencies, regulatory authorities, and courts.

3.3 Business Transfers

In the event of a merger, acquisition, reorganization, or sale of assets, your information may be transferred to the acquiring entity, subject to the same privacy protections outlined in this policy.

3.4 With Your Consent

We may share your information with third parties when you have given us explicit consent to do so.

4. Data Security Measures

We implement comprehensive security measures to protect your personal information from unauthorized access, disclosure, alteration, and destruction:

4.1 Technical Safeguards

• 256-bit SSL/TLS encryption for data transmission
• Advanced encryption standards (AES) for data at rest
• Multi-factor authentication for account access
• Regular security audits and vulnerability assessments
• Intrusion detection and prevention systems
• Secure data centers with physical access controls

4.2 Administrative Safeguards

• Strict access controls limiting employee access to personal information
• Comprehensive employee training on privacy and security
• Background checks for employees with access to sensitive data
• Regular privacy and security policy reviews
• Incident response and breach notification procedures

4.3 Physical Safeguards

• Secure facilities with controlled access
• Video surveillance and alarm systems
• Secure document storage and disposal procedures
• Visitor management and escort protocols

5. Your Privacy Rights

You have the following rights regarding your personal information:

5.1 Right to Access

You have the right to request access to the personal information we hold about you. We will provide you with a copy of your information in a commonly used format within 30 days of your request.

5.2 Right to Correction

You have the right to request correction of inaccurate or incomplete personal information. We will make reasonable efforts to correct your information promptly upon verification of the requested changes.

5.3 Right to Deletion

You may request deletion of your personal information, subject to legal and regulatory retention requirements. We will retain certain information as required by law or for legitimate business purposes.

5.4 Right to Withdraw Consent

Where we process your information based on consent, you have the right to withdraw that consent at any time. This includes opting out of marketing communications.

5.5 Right to Object

You have the right to object to certain processing of your personal information, including processing for direct marketing purposes.

5.6 Right to Data Portability

You have the right to receive your personal information in a structured, commonly used, and machine-readable format and to transmit that information to another organization.

6. Compliance with Financial Regulations

Meridian Credit Union - Vaughan Branch complies with all applicable privacy and financial regulations, including:

6.1 Canadian Privacy Laws

• Personal Information Protection and Electronic Documents Act (PIPEDA)
• Provincial privacy legislation where applicable
• Anti-Spam Legislation (CASL)

6.2 Financial Services Regulations

• Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA)
• Financial Consumer Agency of Canada (FCAC) requirements
• Office of the Superintendent of Financial Institutions (OSFI) guidelines
• Provincial credit union regulations

6.3 Data Retention

We retain your personal information for as long as necessary to fulfill the purposes outlined in this policy and to comply with legal and regulatory requirements. Specific retention periods vary depending on the type of information and applicable regulations, typically ranging from 7 to 10 years for financial records.

7. Cookies and Tracking Technologies

We use cookies and similar tracking technologies to enhance your experience on our website and digital platforms:

7.1 Types of Cookies We Use

• Essential Cookies:Required for website functionality and security
• Performance Cookies:Help us understand how visitors use our website
• Functional Cookies:Remember your preferences and settings
• Marketing Cookies:Used to deliver relevant advertisements (with your consent)

7.2 Managing Cookies

You can control and manage cookies through your browser settings. Please note that disabling certain cookies may affect the functionality of our website and your ability to access certain features.

8. Third-Party Links and Services

Our website may contain links to third-party websites and services. We are not responsible for the privacy practices of these third parties. We encourage you to review the privacy policies of any third-party sites you visit. This Privacy Policy applies only to information collected by Meridian Credit Union - Vaughan Branch.

9. Children's Privacy

Our services are not directed to individuals under the age of 18. We do not knowingly collect personal information from children. If we become aware that we have collected information from a child without parental consent, we will take steps to delete that information promptly.

10. International Data Transfers

Your personal information is primarily stored and processed in Canada. In some cases, we may transfer information to service providers located in other countries. When we do so, we ensure appropriate safeguards are in place to protect your information in accordance with this Privacy Policy and applicable laws.

11. Changes to This Privacy Policy

We may update this Privacy Policy from time to time to reflect changes in our practices, technology, legal requirements, or other factors. We will notify you of material changes by posting the updated policy on our website and updating the "Last Updated" date. We encourage you to review this policy periodically. Your continued use of our services after changes are posted constitutes your acceptance of the updated policy.

12. Contact Information for Privacy Concerns

If you have questions, concerns, or requests regarding this Privacy Policy or our privacy practices, please contact us:

How to Submit a Privacy Request

To exercise your privacy rights or submit a privacy-related request:

1. Contact us using the information provided above
2. Provide sufficient information to verify your identity
3. Clearly describe your request or concern
4. We will respond to your request within 30 days

Filing a Complaint

If you believe we have not addressed your privacy concerns adequately, you have the right to file a complaint with the Office of the Privacy Commissioner of Canada: