Privacy Policy

Dear Members,

Buduchnist Credit Union Limited, carrying on business as BCU Financial (“BCU Financial”), and its affiliates, including the BCU Wealth Management division, have always respected the rights of its members to privacy and your right to control the collection, use and disclosure of your personal information.

To ensure the highest standards of privacy, BCU Financial has adopted the Credit Union Code for the Protection of Personal Information, related Policies and Procedures and appointed a Privacy Officer.

Summary of Principles

Credit Union Code for the Protection of Personal Information

1. Accountability

We have designated a Privacy Officer who is accountable for our compliance with the principles of the Code and the appropriate privacy legislation: The Personal Information Protection and Electronic Documents Act (PIPEDA).

2. Identifying Purposes

Before or at the time we ask you for personal information, we will identify the purposes for which it will be used or disclosed. The purposes are further identified in BCU Financial’s Member service Agreement and include:

To understand your needs and to develop, offer and manage products and services that meet those needs;

To determine the suitability and your eligibility for member products and services;

To evaluate your credit standing and to share or exchange reports and information with credit reporting agencies;

To detect and prevent fraud, and to help safeguard the financial interests of the credit union and its members;

To meet legal and regulatory requirements.

3. Consent Regarding Personal Information

In accordance with government legislation, that is effective January 1, 2004, we need your consent for the continuing use of your personal information to manage your accounts. Your consent can be express or implied. Express consent can be verbal or written.

An example of express consent is, when you sign a credit application thereby giving your written consent for us to obtain a credit report.

An example of implied consent is, when BCU Financial offers a BCU Financial Member Card with attached conditions, and if you use the card, we can conclude that you have consented to the conditions.

Please note, that in the event we do not obtain your express consent, we will reserve the right to imply your consent for the specified purposes outlined above, until such time as you either provide further written consent, or limit or withdraw your consent.

You should be aware that if you decide to withdraw or refuse your consent, our ability to communicate with you will be diminished and we may not be able to: (1) properly service your account, (2) provide our products or services, (3) establish and/or maintain an on-going business relationship.

4. Consent to Receive Emails

The privacy policy of BCU Financial and its affiliates is regularly updated and adheres to the Canadian Anti-Spam Legislation (CASL) which took effect on July 1, 2014.

During the three-year grace period, which ends on July 1, 2017, the Canadian government has allowed senders of emails to operate on an implied consent basis, after which express consent will have to be gained.

However, BCU Financial’s email policy already exceeds these standards.  We respect the rights of our members and clients and our privacy policy is based on an opt-in method of address collection, thereby protecting your right of consent and privacy.

5. Limiting Collection

The collection of personal information is limited to only the purposes we’ve identified to you, and will be collected by fair and lawful means.

6. Limiting Use, Disclosure and Retention

We will only use or disclose your personal information with your consent (or as required by law). And we will only retain your information as long as necessary to fulfill identified purposes.

Under no circumstances does BCU Financial sell or share personal member information with any unrelated third party for marketing purposes.

7. Accuracy

We will keep your information accurate, complete and up-to-date. In order to achieve this, we request that members provide us with notification of any changes, for example new address of telephone number.

8. Safeguards

We will protect your personal information with appropriate security safeguards.

9. Openness

We will make specific, understandable information readily available to you about our personal information policies and procedures. A request may be made to the Privacy Officer to provide further information.

10. Individual Access

When you request it, we will give you access to the existence, use and disclosure of your information. You are entitled to question its accuracy and completeness, and its uses.

11. Challenging Compliance

You are entitled to question the Privacy Officer about our compliance with any of these principles.

Should you have any questions about the use of your personal information please do not hesitate to contact me directly at:

416-763-7009.

Thank you for your cooperation.

Sincerely yours,

Bohdan Cup

privacyofficer@bcufinancial.com