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  • Home > personal banking > Privacy > Privacy Policy



    • Libro recognizes the importance of privacy protection for our Owners personal information
    • Libro understands the need for transparency with Owners regarding their privacy and personal information


    • Uphold principles of the Model Code for the Protection of Personal Information and Electronic Documents Act
    • Ensure transparent and accountable practices are in place with staff members regarding privacy and protecting Owner information
    • Ensure Owners are aware of our privacy policy and commitment to them through our Owner Service Agreement


    • Meet and exceed regulatory privacy requirements
    • Owners entrust Libro with their personal information
    • Privacy issues handled quickly and effectively

    Formal Policy Statements

    Duties and Responsibilities

    Libro upholds the following principles in accordance with the Model Code for the Protection of Personal Information,(PIPEDA) CAN/CSA-Q830-96

    1. Privacy
      1. The Board of Directors appoints the Vice President Enterprise Risk Management as the designated Libro Privacy Officer
      2. The Privacy Officer ensures compliance with principles and the Act. In addition, other individuals within Libro may be delegated to act on behalf of the Privacy Officer from time to time
    2. Identifying Purposes
      1. Personal information provided by Owners will be used for the following purposes:
        1. Confirm identity of the Owner
        2. Determine Owner’s qualifications for selected services
        3. Fulfill legal reporting requirements
        4. Protect both Owner and Libro from losses due to error or fraud
        5. Understand Owner better through proactive financial statuses, goals, needs and wants
        6. Share with third parties, subject to this or similar privacy policies, in order to provide service to Owners who buy and sell selected portfolios of deposits, loans or other products
    3. Consent
      1. Libro obtains consent from new Owners to collect, store, use and exchange or disclose personal information for the above stated purposes
      2. Consent is obtained through acknowledgement and acceptance of the Service Agreement
      3. Owners agree to the publication, distribution and acceptance of new versions of the Service Agreement as published time to time
    4. Collection of Information
      1. Libro collects only personal information that is necessary to achieve purposes stated above, through open, fair and lawful means
    5. Use, Disclosure and Retention of Information
      1. If information is used for a purpose other than one stated above, then separate explicit consent is required from the Owner
      2. If an Owner’s personal information is disclosed or exchanged with another party Libro will ensure that such party accepts and complies with this policy
      3. Libro retains Owner’s personal information for as long as necessary, to achieve stated purposes and to comply with legislation and regulations
      4. When information is no longer needed Libro will destroy paper and electronic files in a secure way that eliminates the possibility of information contained in such files from being accessed
    6. Accuracy
      1. Libro will use best efforts to maintain the accuracy and up to date Owner information
      2. Libro will update Owner personal information when advised by the Owner or when Libro learns of a change
    7. Safeguards
      1. Libro stores personal information in electronic and paper files to which only authorized personnel have access
      2. Files are stored in a secure and vaulted room
      3. Annually Libro staff, Owner Representatives and Directors sign a Code of Conduct
    8. Openness
      1. This policy is publicly posted and accessible via Libro’s website and paper copies are available on request
      2. Libro will outline and explain specific practices and details upon Owner request
    9. Individual Access
      1. During business hours Owners may view their paper and electronic files
      2. Owners may review information contained in such files and comment on its accuracy, correctness and suggestions for revision
    10. Compliance
      1. Owners may contact the Privacy Officer with questions, suggestions or opinions regarding compliance with this policy
      2. The Privacy Officer may be contacted at 217 York St., 4th Floor, London ON, N6A 5P9 Attn: Privacy Officer or at 1-800-265-5935
      3. The Privacy Officer is responsible for monitoring applicable legislation and taking steps to ensure policies, procedures and safeguards remain in compliance

    Specific Authorities and Delegations

    • The Audit and Risk Committee is responsible for oversight of this policy
    • The Privacy Officer is authorized to respond to requests for personal information and amendments thereto: complaints, questions and challenges regarding this policy and Libro’s practices and procedures for the collection, use, disclosure, retention and destruction of personal information

    Resolving and Reporting Privacy Issues

    • Minor privacy issues are, if possible, initially handled and resolved with Owners at branch level
    • Unresolved and significant privacy issues are reported promptly to the Privacy Officer and/or Deputy Privacy Officer and/or other Leadership Team members
    • The Privacy Officer and/or designated support staff determine the severity and complexity of the issue and organize resources to initiate a quick response and resolution with input and assistance from other Libro staff
    • The Privacy Officer ensures significant privacy issues are resolved with the Owners concerned and reported to the Audit and Risk Committee, immediately in the case of a breach of privacy, at their next meeting otherwise and summarized in an annual report to the Committee

    As appropriate, this policy and its protections and standards also apply to non-owners dealing with the credit union, in such cases the term Owner refers to non-owners equally. For the purposes of this policy Libro refers to Libro Credit Union Limited and any related companies, subsidiaries or successors.

    To: Privacy Officer

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