Home »Privacy Policy

Privacy Policy

FACTS

 

WHAT DOES PUTNAM BANK, PSB HOLDINGS, INC., AND PUTNAM BANK MORTGAGE SERVICING COMPANY DO WITH YOUR PERSONAL INFORMATION?

 

Why?

Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some, but not all, sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.

 

What?

The types of personal information we collect and share depend on the product or service you have with us.  This information can include:

  • Social Security number, assets and income
  • Account balances and payment history
  • Credit history and credit scores

 

How?

All financial companies need to share customers’ personal information to run their everyday business.  In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Putnam Bank chooses to share; and whether you can limit this sharing.

 

Reasons we can share your personal information

Does Putnam Bank share?

Can you limit this sharing?

For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus.

 

Yes

 

No

For our marketing purposes – to offer our products and services to you.

 

Yes

 

No

For joint marketing with other financial companies.

Yes

Yes

For our affiliates’ everyday business purposes – information about your transactions and experiences.

 

Yes

 

No

For our affiliates’ everyday business purposes – information about your creditworthiness.

 

Yes

 

Yes

For our affiliates to market to you.

No

No

For our non-affiliates to market to you.

No

No

 

 

To limit our sharing

Please note: If you are a new customer, we can begin sharing your information [30] days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice. However, you can contact us any time to limit our sharing.

Questions

Call 800-377-4424 or go to https://www.putnambank.com

Who we are

Who is providing this notice?

Putnam Bank, 40 Main Street, PO Box 151, Putnam, CT 06260

What we do

How does Putnam Bank protect my personal information?

To protect your personal information from unauthorized access and use, we use security measures that comply with federal law.  These measures include computer safeguards and secured files and buildings.

How does Putnam Bank collect my personal information?

We collect your personal information, for example, when you -

  •  Open an account, make deposits or withdrawal from your account;
  •  Show your government-issued ID or driver’s license;
  •  Pay your bills on-line, apply for a loan or use your debit card

We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.

Why can’t I limit all sharing?

Federal law gives you the right to limit only –

  • Sharing for affiliates everyday business purposes – information about your creditworthiness.
  • Affiliates from using your information to market to you.
  • Sharing for non-affiliates to market to you.

What happens when I limit sharing for an account I hold jointly with someone else?

Your choices will apply to everyone on your account – unless you tell us otherwise.

Definitions

Affiliates

Companies related by common ownership or control. They can be financial and
nonfinancial companies.

  • Our affiliate, as related by common ownership and control, includes Putnam Bank (PB) Mortgage Servicing Company, a wholly owned subsidiary of the PSB Holdings, Inc. Our affiliate is located at 50 Canal Street, Putnam, CT 06260 and is staffed with the same (dual) employees as the Putnam Bank. These (dual) employees provide consumer loan services to Putnam Bank customers.

Non-affiliates

Companies not related by common ownership or control. They can be financial and non-financial companies.

  • Putnam Bank does not share with non-affiliates.

Joint Marketing

A formal agreement between nonaffiliated financial companies that together market financial products or services to you.

  • Our joint marketing partners include 1) The Independent Bankers Bank (TIB) Card Services. Through TIB, Putnam Bank is able to provide our customers with credit card options.  2) East Commerce Solutions, Inc.  East Commerce Solutions, Inc. provides Merchant Credit Card processing services to business and commercial customers.