 In
response to the terrorist attacks on September 11, 2001 President
Bush signed the USA Patriot Act into law. The main purpose of the
Act is to prevent and detect money laundering and the financing
of terrorism. Also, it is anticipated that the Act will benefit
all of us by reducing the growing incidence of fraud and identity
theft.
One section of the Act that affects each of us is the requirement
that all financial institutions must verify the identity of anyone
seeking to open an account or seeking to be a signatory on an account.
Identification is also required of anyone with an existing account
when a new account is opened or when he/she will be added as a signatory
on an account unless verification of identity was previously documented.
With the cooperation of members and other account holders, vendors,
employees, and other financial institutions we can all reduce the
possibility of money laundering, financing terrorism, fraud, and
identity theft.
The Credit Union pledges, as always, to protect the confidential
information of its account holders as described in the Credit Union's
Privacy Policy.
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