USA PATRIOT ACT


 

Procedures for Opening a New Account

Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. This important measure is taken to help the government combat funding for terrorism as well as money laundering activities.

What does this mean for prospective members?

When you open an account, we will need you to provide your name, address, date of birth and other information that will allow us to identify you. You may also be asked for your driver's license or other identifying documents.
 

How does this affect long-term members?

We know it may seem odd to verify identification of someone we've known for years.  However, to guarantee that nobody “slips through the cracks” the law was written so that all customer and member identities are verified.  This will not have to be done every time a branch is visited, but it will be done periodically.

What does the Credit Union do with identification documents?

We are required to keep proof that we have verified identification.  Our member base is periodically checked against a list of known or suspected terrorists.  This act should have little or no affect on law-abiding citizens.

We hope you’ll understand the need for us to comply with the USA PATRIOT Act to help guarantee a more secure country, making certain the banking system is not inadvertently aiding people or groups who wish us harm.

 

 

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