Customer Identification Requirements
As a financial institution, we are fully compliant with Section 326 of the USA Patriot Act. This means that all applicants for new accounts are requested to provide a current photo identification that verifies identity, including name, address, and other identifying information. This strict adherence to the law should reassure you of our commitment to your security. In some cases, identification will be requested for current account holders if original documentation was not obtained when opening the account, or is no longer current.
Opening a Legal Entity Account
Rules under the Bank Secrecy Act, require all financial institutions to obtain, verify, and record information that identifies each person who opens an account for a covered Legal Entity. The rules will aid the U.S. government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats.
Each time an account is opened for a covered Legal Entity, we will ask for name, address, and other identifying information for:
- Each individual that has beneficial ownership (25% or more) in the Legal Entity, and
- One individual who has significant managerial responsibility for the Legal Entity.
In all cases, protecting our customer’s identity and confidentiality is our pledge to you. We proudly support all efforts to preserve and maintain the security of our customers and our country.
