Introduction. Cross River Bank knows that you expect privacy and security for your personal financial information. This privacy policy, is designed to inform you of the types of information we collect from our customers, how we use that information and the circumstances under which we will share it with third parties.
We Respect Your Privacy. Cross River Bank respects your privacy and is committed to treating your information responsibly. We believe many consumers appreciate receiving offers of products and services that may be useful to them. At the same time, we understand the need to safeguard sensitive information that you have provided to us. We treat our customer and our former customer information as described in this required notice.
Information Collection. Cross River Bank collects information about you that we reasonably believe will be necessary or useful in processing or administering the products and services you have requested from us, or in providing other opportunities that we think will be of interest to you.
We collect customer information from the following sources: (1) information we receive from you on applications or other forms, such as your name, address, social security number, assets and income, (2) information about your transactions with us, our affiliates or others, such as your account balance, payment history, and parties to transactions, debit card usage, and (3) information we receive from third parties, including consumer reporting agencies, such as your credit worthiness and credit history.
Our online services use features of your Internet browser called "cookies" and "flash objects". Cookies and Flash Objects are files that are placed in your computer's browser memory or placed on your hard drive. We may use these features on our web site or online banking service to verify your identity, remember personal settings including your preferences, to offer you additional options or enhance your online experience, and to improve our products and services. We also use them for marketing site personalization, and tracking of online applications and programs. Our server recognizes and records the domain name from which visitors to our site accessed the Internet and the names of the pages visited while at our site. It does not, however, collect and store your electronic mail address or other nonpublic personal information. Finally, we also may use cookies to track the effectiveness of advertisements for Cross River Bank products and services, referred to as banner ads that we may place on Cross River Bank web sites. Cookies used for tracking advertising effectiveness do not collect nonpublic personal or confidential information.
Information Sharing with Third Party Marketing Service Providers and Joint Marketers. Cross River Bank may disclose the information we collect, as described above, to companies that perform marketing services on our behalf or to other financial institutions with whom we have joint marketing arrangements. The third party service providers who receive this information are required to use the information we share with them only to provide services to us, or as otherwise permitted by law.
Information Sharing. Other than as described above, Cross River Bank does not share customer information with any affiliated or nonaffiliated third parties except as permitted by law. An example of when Cross River Bank may share customer information as permitted by law would be to complete a transaction you requested, such as ordering a property appraisal as a part of your loan application. Another example would be reporting your annual interest, earned or paid, to the IRS.
Maintenance of Accurate Information. We have established procedures designed to ensure that your customer information is as accurate and complete as possible. If you believe that our records contain inaccurate or incomplete information about you, please notify us by calling toll-free at 1-877-55CRB55 or by sending a written inquiry to Cross River Bank c/o Online Banking Department; 885 Teaneck Rd., Teaneck, NJ 07666.
Confidentiality and Security. We restrict access of your customer information to those associates (persons employed by Cross River Bank) who have a business reason for knowing such information. We educate our associates about the importance of confidentiality and privacy of customer information.
We maintain physical, electronic and procedural safeguards that comply with federal standards to protect your customer information from unauthorized access.
In Summary. We appreciate your business and want you to understand our commitment to maintaining the privacy of your customer information, as expressed in this Privacy Policy. This Privacy Policy applies only to individual consumers and not to businesses. We reserve the right to amend the policy at any time. If you have questions, please contact Customer Service at 1-877-55CRB55.
FIDC. Cross River Bank is a member of the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your deposits if an FDIC-insured bank or savings association fails.
WHAT IS INSURED BY THE FDIC?
All types of deposits held by Cross River Bank are covered by FDIC insurance including:
Checking Accounts
NOW Accounts
Savings Accounts
Money Market Savings Accounts
Certificates of Deposit
Outstanding Cashier's Checks, Money Orders, Loan Disbursement Checks, Interest Checks and Drafts issued by Cross River Bank
WHAT AMOUNT OF INSURANCE COVERAGE DO I HAVE FOR MY ACCOUNTS? (As of May 26, 2009)
Basic Insurance:
Basic Insurance effective through December 31, 2013: (1) Basic FDIC insurance has been increased from $100,000 to $250,000 per depositor, per insured financial institution.
(2) Cross River Bank is participating in the FDIC Transaction Account Guarantee Program (TAGP), a program that temporarily provides an additional and separate 100% guarantee of unlimited FDIC insurance coverage on deposits held in traditional, noninterest-bearing consumer and business deposit checking accounts. IOLTA/IOLA accounts and NOW accounts with interest rates of 0.5% or less. (Interest-bearing Money Market Accounts and NOW accounts with interest rates more than 0.5% are not included.)
Basic Insurance On January 1, 2014: (1) Basic FDIC insurance will go back to $100,000, except for retirement accounts, which will remain at $250,000.
(2) The separate, unlimited FDIC 100% guarantee of insurance coverage for noninterest-bearing consumer and business checking accounts, IOLTA/IOLA accounts and NOW accounts with interest rates of 0.5% or less, will be effective through 06/30/2010.
Coverage Over Basic Insurance:
The FDIC provides separate insurance coverage for deposit accounts held in different categories of ownership. In addition to the separate, unlimited insurance coverage on noninterest - bearing consumer and business checking accounts, it is possible to qualify for more than the current $250,000 in coverage at one insured bank if you own deposit accounts in different ownership categories. The ownership categories are (1) single; (2) joint; (3) revocable trust (informal revocable trusts such as "Payable-on-death" accounts and formal revocable trusts such as living/family trusts created for estate planning purposes); (4) irrevocable trusts; (5) certain retirement plans; (6) employee benefit plans; (7) business (corporation, partnership, unincorporated associations); and (8) government.
If you still have questions, please contact the FDIC toll-free at 1-877-ASK-FDIC (877-275-3342) from 8:00 am until 8:00 pm (Eastern Time) or contact them online at www.fdic.gov.
The information and content provided here about FDIC insurance is for informational purposes only and is provided as a convenience to you. Cross River Bank makes no warranties or representations as to its accuracy and bears no liability for your use of this information. Cross River Bank does not endorse and is not responsible for the content, links, privacy policy, or security policy of any non-Bank website link included here. The information being made available to you here is not intended, and should not be construed as legal, tax, or investment advice, or a legal opinion. You should contact your legal, tax and/or financial advisors to help answer questions about your specific situation or needs prior to taking any action based upon this information.
