Privacy Policy

Recognition of a Customer's Expectation of Privacy

Castle Rock Bank is implementing this privacy policy because a fundamental component of the bank/customer relationship is a customer's trust in this institution and because we respect the expectations of our customers regarding privacy and confidentiality. Protecting your privacy, along with your financial assets, is at the core of our business. You have chosen to do business with us, and we recognize our obligation to limit access to the information you provide us.

This policy has been adopted by the Bank's board of directors as of March 28, 2000. Bank management reviewed a variety of information from federal banking agencies, as well as the U.S. Banking Industry Privacy Principles, and carefully considered the policy in light of the bank's particular needs, including the bank's size, bank's involvement with third parties and the needs of our customers.

Use, Collection and Retention of Customer Information

This bank collects, retains and uses information about customers only when we believe law allows it and reasonably useful in administering our business of providing loans, and other financial products, services and opportunities to our customers. We collect and retain information about you only for specific business purposes -- and we will tell you why we are collecting and retaining it upon your request. We use information to protect and administer your records, accounts and funds; to comply with certain laws and regulations; to help design or improve our products and services; and to understand your financial needs so that we can provide quality products and superior service.

Maintenance of Accurate Information

We continually strive to maintain complete and accurate information about you and your accounts. Keeping your account information accurate and up to date is very important. If you ever find that your account information is incomplete, inaccurate, or not current, please contact us by phone at 651-463-7590 or 651-463-4014 or in person or by mail at 27925 Danville Avenue, PO Box 518, Castle Rock, MN 55010 or 22140 Chippendale Avenue, PO Box 9, Farmington, MN 55024. We will investigate your concerns and correct any inaccuracies promptly.

Limitations on Employee Access to Information

At Castle Rock Bank, employee access to personally identifiable customer information is limited to those with a business reason to know such information. Employees are educated on the importance of maintaining the confidentiality of customer information. Because of the importance of this issue, all employees of this bank are responsible for maintaining the confidentiality of customer information and those in violation will be subject to disciplinary measures.

Protection of Information via Established Security Procedures

Castle Rock Bank is committed to the security of your financial and personal information. All of our operational and data processing systems are in a secure environment that protects your account information from being accessed by third parties. We maintain and grant access to customer information only in accordance with our internal security standards.

Restrictions on the Disclosure of Account Information

We do not reveal specific information about your accounts or other personally identifiable data to parties outside our bank for their independent use unless:

1. You request or authorize it;
2. The information is provided to help complete a transaction initiated by you;
3. The information is provided to a reputable credit bureau or similar information reporting agency; or
4. The disclosure otherwise is lawfully permitted or required.

We do not provide account or personal information to other companies for the purpose of independent telemarketing or direct mail marketing of any non-financial products or services.

Maintaining Customer Privacy in Business Relationships with Third Parties

Castle Rock Bank follows strict privacy procedures in regard to protection of customer information. In some cases it may be necessary to share information with third party business partners. This may be necessary to provide you with requested products or services. The Bank requires all third parties with a business need to access personal information to adhere to similar and equally stringent privacy policies. When we use a third party business partner, service company, or other business partner to prepare account documentation, service accounts, or for other purposes, we will make reasonable effort to verify the business partner treats customer information in a manner no less stringent than the Bank.

Disclosure of Privacy Principles to Customers

Castle Rock Bank recognizes and respects the privacy expectations of our customers. We want our customers to understand our commitment to privacy in our use of customer information. To accomplish this, we have developed this Privacy Policy, which is made readily available to our customers. Customers who have questions about the privacy of their customer information should contact us at either of our offices (Castle Rock or Farmington) by phone (651-463-7590 or 651-463-4014) or in person.

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