Saco & Biddeford Savings Institution believes that privacy is a significant component of any banking relationship. We realize the importance of handling your information in a confidential manner. Furthermore, we know that you expect us to collect and maintain your personal information responsibly. We strive to meet those expectations. In this day and age of the “information superhighway”, we want you to be assured that we are still committed to the old-fashioned concept of customer privacy. This commitment is described below.

The Right to "Opt Out"
You have probably heard about the “right to opt out.” The right to opt out gives you the opportunity to say “No” before your financial institution shares your nonpublic personal information except as permitted by law. We are pleased to say that we do not sell this information or otherwise share it in ways further than those permitted by law. As a result, “opt out” does not apply to anything that we do. If, at some later time, we change our practices regarding this, we are required to notify you of the opportunity to opt out at that time. Until that point, we are restricted from information sharing as if you had “opted out” already. We have no current plans to use the information in that way.

Collection of Information
We routinely collect, maintain, and use information about you in order to conduct our business with you and to provide products and services to you. This may include “nonpublic personal information” about you from the following sources:

• Information we receive from you on applications or other forms;
• Information about your transactions with us, our affiliates, or others;
• Information we receive from a consumer reporting agency.

“Nonpublic personal information” includes information that you provide to us in order to obtain a financial product or service from us, information resulting from transactions between you and us, and information that we obtain about you in connection with providing a financial product or service to you.

Disclosure of Information
We do not disclose any nonpublic personal information about our customers or former customers to anyone, except as permitted by law. Some examples of situations where we may be required to disclose information include (but are not limited to):

• Response to subpoenas and court orders.
• Annual information provided to the Internal Revenue Service regarding interest you earn on your accounts with us.
• Requirements of federal or state regulatory authorities.

We may disclose nonpublic personal information about you to third parties to assist us in servicing your loan or account with us. In addition, we routinely share information with reputable credit reporting agencies as authorized under federal and state law. Also, we may disclose all of 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 agreements. We require that these companies or financial institutions share our commitment to protecting the confidentiality of your information.

Finally, we may reveal information about you and your account(s) when you authorize us to do so.

Protection of Your Information
Throughout our systems, we maintain appropriate physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information. We restrict access to nonpublic personal information about you to those employees who need to know that information in order to provide products or services to you. Because of the importance of safeguarding customer information, we educate all of our employees regarding the significance of our privacy policy.

The protection of your information is important to us. If you have any questions about our privacy policy or our handling of your confidential information, please contact one of our branch managers.