Customer Identification Program

To help the Government fight the funding of terrorism and money laundering activities, the USA PATRIOT ACT requires all financial institutions to verify the identity of every person who seeks to open an account or become a signatory on an account with this institution. All persons are subject to the identity verification requirements even though they may be a long term customer of and well known to the institution.

For the purpose of the regulation, an "account" includes every formal banking relationship that entails ongoing services, dealings or transactions. Some examples are deposit accounts, loans, trust relationships or safe deposit box rental.

If you request to open an account or become a signatory on an account with Summit Credit Unions and Summit Credit Unions has not previously verified your identity under the new regulatory requirements, Summit Credit Unions will request documentary verification of your identity, such as a driver's license or passport and/or it will verify your identity through other non-documentary methods. Similar identification requirements apply to business entities such as corporations and partnerships.

Summit Credit Unions is required to retain a copy of any document it relied on to verify your identity.