Privacy Policy

What does Somerville Bank Do With Your Personal Information?

Why?

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.

What?

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

Social Security Number
Account balances
Payment history
Transaction or loss history
Credit history
Overdraft history

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

How?

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 SOMERVILLE BANK chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information

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
Does Somerville Bank share? Yes
Can you limit this sharing? No

For our marketing purposes- to offer our products and services to you
Does Somerville Bank share? No
Can you limit this sharing? We don’t share

For joint marketing with other financial companies
Does Somerville Bank share? No
Can you limit this sharing? We don’t share

For our affiliate’s everyday business purposes- information about your transactions and experiences
Does Somerville Bank share? No
Can you limit this sharing? We don’t share

For our affiliate’s everyday business purposes- information about your creditworthiness
Does Somerville Bank share? No
Can you limit this sharing? We don’t share

For nonaffiliates to market to you
Does Somerville Bank share? No
Can you limit this sharing? We don’t share

What we do

How does Somerville 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.

We also maintain other physical, electronic, and procedural safeguards to protect this information and we limit access to information to those employees for whom access is appropriate.

How does Somerville Bank collect my personal information?
We collect your personal information, for example, when you

Apply for a loan
Make deposits or withdrawals from your account
Apply for financing
Provide account information
Show your driver’s license

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

Why can’t I limit all sharing?
Federal law gives you the right to limit only

sharing for affiliates’ everyday business purpose-information about your creditworthiness
affiliates from using your information to market to you
sharing for nonaffiliates 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 nonfinancial companies.

Somerville Bank has no affiliates

Nonaffiliates
Companies not related by common ownership or control. They can be financial and nonfinancial companies.

Somerville Bank does not share with nonaffiliates so they can market to you.

Joint marketing
A formal agreement between nonaffiliate financial companies that together market financial products or services to you.

Somerville Bank doesn’t jointly market.