Disclosures
Member Identification Program
Section 326 of the USA Patriot Act requires CPFCU to establish a Member Identification Program including procedures to:
• Verify the identity of any person seeking to open an account to the extent reasonable and practicable;
• Maintain records of the information used to verify a person's identity; and
• Consult lists provided to CPFCU by any government agency to determine whether a person seeking to open an account appears on any such list.
For each person who opens a new account or anyone added as a signatory to an account with CPFCU, all the following identifying information will be asked for and must be provided prior to opening the account:
• Name
• Residence Address and Mailing Address
• Date of Birth
• Social Security Number / U.S. Taxpayer Identification Number
CPFCU will request as many identifying documents as needed to form a reasonable belief that we know the identity of the individual.
CPFCU will require acceptable identifying documents for any new member and for non-members who become co-signers, co-applicants, joint applicants, and guarantors on loans, if the identity is not already known by CPFCU and if identifying documents are not already on file.
For members who want to open accounts for their minor children, the parent or guardian's identity must be verified, if not already on file, and a social security number for the minor must be provided at the time of opening or within 90 days of opening the account. If the social security number is not provided within 90 days then the account will be closed and the money returned to the guardian.
The opening of a new account may be subject to handling on a case by case basis.
After identifying information is collected the credit union will request one of the following to verify the information:
• Unexpired photo ID card acceptable to the credit union (drivers license, passport, unexpired government issued photo ID, employer or school issued photo ID card)
• An acceptable document with the person's current mailing address may be requested if the address is different than the address shown on the photo ID.
The burden of proof to provide sufficient identifying document(s) will rest with the person who desires to open or to be added to an account. An account will not be opened if identification cannot be verified to an extent whereby the credit union has a reasonable belief that the identity of the person is verified.
Section 326 of the USA Patriot Act requires CPFCU to establish a Member Identification Program including procedures to:
• Verify the identity of any person seeking to open an account to the extent reasonable and practicable;
• Maintain records of the information used to verify a person's identity; and
• Consult lists provided to CPFCU by any government agency to determine whether a person seeking to open an account appears on any such list.
For each person who opens a new account or anyone added as a signatory to an account with CPFCU, all the following identifying information will be asked for and must be provided prior to opening the account:
• Name
• Residence Address and Mailing Address
• Date of Birth
• Social Security Number / U.S. Taxpayer Identification Number
CPFCU will request as many identifying documents as needed to form a reasonable belief that we know the identity of the individual.
CPFCU will require acceptable identifying documents for any new member and for non-members who become co-signers, co-applicants, joint applicants, and guarantors on loans, if the identity is not already known by CPFCU and if identifying documents are not already on file.
For members who want to open accounts for their minor children, the parent or guardian's identity must be verified, if not already on file, and a social security number for the minor must be provided at the time of opening or within 90 days of opening the account. If the social security number is not provided within 90 days then the account will be closed and the money returned to the guardian.
The opening of a new account may be subject to handling on a case by case basis.
After identifying information is collected the credit union will request one of the following to verify the information:
• Unexpired photo ID card acceptable to the credit union (drivers license, passport, unexpired government issued photo ID, employer or school issued photo ID card)
• An acceptable document with the person's current mailing address may be requested if the address is different than the address shown on the photo ID.
The burden of proof to provide sufficient identifying document(s) will rest with the person who desires to open or to be added to an account. An account will not be opened if identification cannot be verified to an extent whereby the credit union has a reasonable belief that the identity of the person is verified.