Patriot Act

Information Regarding U.S. Patriot Act:
To assist the government in fighting the funding of terrorism and money laundering activities, the US PATRIOT ACT, a Federal law, requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account, including business accounts. We are also required to retain copies of documents used to verify identity.

What this means to you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents. If you are opening an account on behalf of a business, documents relating to the business may also be requested. Thank you in advance for your cooperation.

U.S. Patriot Act Customer Identification Program
Following the September 11, 2001 attacks on the World Trade Center, Congress passed a variety of laws to control terrorism. One such law, the "USA Patriot Act" was passed to provide the appropriate tools to intercept and obstruct terrorism and to prevent terrorist financing and money laundering. Section 326 of the act requires financial institutions to establish procedures for identifying and verifying the identity of persons who open new accounts.

Bay Area Credit Union will comply with this act by establishing a customer identification program using the following criteria:

1. Name, street address, social security number and date of birth must be provided to the credit union for all account owners.

2. Two forms of identification will be requested. One must be a valid picture ID such as a driver's license, state ID, or passport. A social security card must be presented if the individual's social security number is not included on the photo ID. Non-citizens must provide an alien registration, passport or visa.

3. Information will be verified through Chex Systems and checked against OFAC list. Information collected will be documented on an account card. A copy of the photo ID will be attached and filed with the account card. Bay Area Credit Union retains all new account cards permanently.