PRIVACY POLICY

Prairie Sun Bank (the “Bank”) is implementing this privacy policy because 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 29, 2000. Bank management reviewed a variety of issuances from federal banking agencies, 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.


COLLECTION AND USE OF INFORMATION

The Bank collects, retains and uses information about customers only when it is lawful and useful for our standard business purpose such as opening and maintaining accounts, providing loans, providing additional financial products or services and advising you of new products or services.

For example, we will obtain personal information about you when you apply for a loan, and we may obtain a credit report from a third party.



MAINTENANCE OF ACCURATE INFORMATION

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 call or write us. We will correct any erroneous information in a timely manner.


EMPLOYEE ACCESS TO INFORMATION AND ENFORCEMENT

Bank limits employee access to customer personal information to only those with a business reason for knowing such information. Bank also educates all employees about the importance of confidentiality and customer privacy.


RESTRICTIONS ON DISCLOSURES OF ACCOUNT INFORMATION

The Bank will only disclose information to third parties about your credit, your accounts, and your transactions under any one of the following conditions:

1. When it is necessary for completing a transaction initiated by you.

2. To verify the existence and conditions of the account or loan for reputable information reporting agencies.

3. In order to comply with a government agency directive, court order, or regulatory examination.

4. When you give the bank permission.

5. In order to protect you, your interests, the interests of the Bank, or if we suspect fraud or illegal activity.


SAFEGUARDING THE SECURITY OF CUSTOMER INFORMATION

Operating policies and procedures described in the Internal Control Policy states that customer balances will only be released as explained in this privacy policy.


MAINTAINING CUSTOMER PRIVACY IN 
BUSINESS RELATIONSHIPS WITH THIRD PARTIES

The Bank will take steps to ensure protection of customer information. Except as otherwise stated in this policy, the Bank will not sell or share customer information with third parties.

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 strongly encourages all third parties with a business need to access personal information to adhere to similar and equally stringent privacy policies.


DISCLOSURE OF PRIVACY PRINCIPLES TO CUSTOMERS

It is the policy of the Bank to communicate our privacy policy to our customers. We will periodically review the methods available for communicating the Bank’s privacy policy and determine whether the Bank’s current practices are meeting the needs of the Bank and our customers.

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