U.S. Patriot Act

The USA Patriot Act requires financial institutions, including credit unions, to establish minimum procedures for identifying and verifying the identity of member seeking to open new financial accounts or to add new signatories to financial accounts.

The purpose of the Customer Identification Program is to protect the U.S. financial system from money laundering and terrorist financing. Also, the program would help protect members against fraud, including identity theft. The program will be used in conjuction with the credit union's Bank Secrecy Act / Money Laundering / OFAC Policies and Procedures.

Each individual who establishes a new account with the credit union, or who adds a signatory to existing accounts must provide the credit union with the following information PRIOR TO OPENING THE ACCOUNT. There are no exceptions:

  • Name
  • Date of Birth
  • Social Security Number, Individual Taxpayer ID number. Driver's license, passport, military ID, employer ID card, etc. must be provided to the Credit Union within 30 days of opening an account or the account will be closed. If the account is being opened on the behalf of a minor, the parent or guardian must provide a form of identification, such as a social security card and birth certificate.

Note: For existing members, the credit union does not have to verify identity when the member opens a new account or becomes a signatory on an account when:

  1. Identity has been previously verified, and / or
  2. There is reasonable belief that the identity of the member is known to the credit union.

If you have any questions concerning the Patriot Act, please call or come by the Credit Union and speak to a member of our staff.