Why We Collect Personal Information. ACU and our affiliates and partners in the Canadian Credit Union system collect, use or disclose your personal information to: • verify your identity. • provide you the products and services you request. • develop, offer, manage and provide products and services that meet your needs. • determine your eligibility for products and services you request or which we believe may benefit you. • detect and prevent fraud and other criminal activity, and to help safeguard your and our financial interests, including through internal audits. • help us collect debts or enforce obligations which are owed or guaranteed by you to us. • meet other purposes we indicate on our website or otherwise communicate to you. • meet our regulatory requirements. • carry out any other purpose that you authorize or that is required or permitted by law. The information we request depends on the product or service you want. Much of the personal information we ask for is either mandatory by law or vital for us to be able to do business with you. Here is a summary of the types of personal information we collect, and how that information is used. Social Insurance Number (SIN) In order to comply with the Canada Revenue Agency’s income reporting requirements, we must collect your SIN when you open a savings account or apply for an RRSP, RRIF or TFSA or other product that earns investment income. Financial Information Your financial information is also necessary to assess your eligibility for credit products you request, such as a line of credit, loan or mortgage. At the same time, it helps us give you the most appropriate financial planning advice about investments and other products and services. Product-Specific Information Some products and services require you to provide a specific type of information. For example, information about your health may be required to determine your eligibility for insurance products. Identification Information Knowing your birth date and other identification information, such as your name, address and occupation, helps identify you and reduces the risk that someone will impersonate you. We are required by anti-money laundering laws to cite and record details of certain documents, such as photographic ID and other personal documents.
Why We Collect Personal Information. We collect personal information to establish and operate your account(s) with us. We obtain most of the information directly from you with your consent. The decision to provide us with your personal information always rests with you. We may, however, be limited in our ability to provide you with certain products and services, if you decline to provide us with information essential to fulfill your request.
