Patriot Act and Consumer & Credit Risk Reports
USA Patriot Act
Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account, including joint owners. If you apply for any of Transit Employees Federal Credit Union’s (TEFCU) products and services, including membership, we will ask for your name, address, date of birth, social security number, and other information that will allow us to identify you. We will ask to see a valid driver’s license or other valid identification. Approval of your application may be delayed pending further verification of your identity. We proudly support all efforts to protect and maintain the security of our members.
Consumer & Credit Risk Reports
By submitting an application, you authorize TEFCU to obtain consumer and credit risk reports for purposes of evaluating the membership application and reviewing any TEFCU account you open. You also authorize TEFCU to obtain a consumer credit report and credit risk management data analysis to evaluate your creditworthiness so that you may be considered for other TEFCU products and services. You understand these reports may be used in decisions to deny account applications, close accounts, and/or restrict accounts or services. We do not disclose information about you to third parties, except as required or permitted by law.