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 Housatonic Teachers’ Federal Credit Union and have not previously verified your identity under the new regulatory requirements, Housatonic Teachers Federal Credit Union 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.
Housatonic Teachers Federal Credit Union is required to retain a copy of any document it relied on to verify your identity.
Housatonic Teachers Federal Credit Union’s mission is to promote the Credit Union concept as the practical approach to financial well-being of people; pursue quality and innovation in financial services, with excellence in service and the delivery of those services; provide an organization for employee growth and public respect while maintaining the highest ethical standards.