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Helpful Information

M1 Bank knows the importance of keeping your information safe. Find helpful information to protect you and your finances.

 

10 Rules for Strong Password

  1. Don’t tell your passwords to anyone! Nobody should ask for your passwords, and you should never give your passwords to anyone.
  2. Don’t use simple dictionary words, pets’ names, or people’s names for passwords. Avoid easy-to-guess numbers, such as your age, zip code, birthday or anniversary.
  3. Use passwords that are at least 20 characters long. Do not write them down where they can be easily found.
  4. Create a “pass phrase” instead of just one word (for example, $3 for the pirate hat). Or think up a few nonsense words that you can remember easily (for example, Betty was smoking tires and playing tuna fish).
  5. Use a different password for each website. Do no use simple patterns like “password1”, “password2”, “password3”, or “amazon4me”, “netflix4me”, “yahoo4me” for different sites—those are too easy to guess.
  6. Change your passwords for sensitive websites (such as your online banking or credit cards) every 60-90 days. Do not use easy-to-guess patterns when you change them.
  7. If you think someone may have learned your password, change it immediately. Then check the websites where you use that password for any signs of misuse—starting with your online banking.
  8. Sometimes websites ask you to enter the answer for a “security question” you can use if you forget your password. Make your answer to the security question just as hard to guess as your password.
  9. If you bank or webmail offers you extra security features, use them!
  10. Use the password procedures your company requires, and at home consider using a password manager like KeePass or Password Safe. Password managers make your Interest use a lot safer and easier.

Identity Theft

Identity Theft is a very prevalent problem in society today. Identity theft occurs when someone steals your personal information to establish credit, purchase items, or borrow money in your name. We have taken all of the precautions needed of us to protect you from identity theft. This brochure gives you the information you need to help protect yourself against identity theft.

Protecting your information from Identity Theft

  1. Safeguard your financial information – such as checking and credit card numbers, and your Social Security number. Unless you know the person or organization you’re dealing with, don’t give it out, even to someone claiming to be from your bank.
  2. Report lost or stolen checks immediately. Review new deliveries of checks to make sure none have been stolen in transit.
  3. Notify your bank of suspicious phone inquiries – such as those asking for account information to “verify a statement” or “award a prize”.
  4. Shred financial solicitations – or financial statements before disposing of them.
  5. Deposit your mail into a secure, official Postal Service collection box.
  6. If regular bills fail to reach you – call the company to find out why. Someone may have filed a false change-of-address notice to divert your mail and steal your identity.
  7. If your bills include questionable items – investigate immediately. This is often the first sign of identity theft fraud.
  8. Avoid phishing scams. Never reply directly or click on a link in response to an email that asks for personal or financial information. If you are concerned about your account contact the company or institution via a web site you know to be genuine. Remember – your bank will never contact you “out of the blue” to ask for personal financial information.

Measures your bank takes

Measures are in place at your bank to protect your identity against theft and fraud.

  • Privacy Policies – Our privacy policies protect your personal and financial information. These policies are stringent and enforced, with employee training provided regularly.
  • Internal Confidentiality – Access to nonpublic information about you is limited to employees who need to know that information to provide you with products and services.
  • Information Security – Keeping your financial information secure is one of our most important responsibilities. We maintain physical, electronic and procedural safeguards to protect customer information.

Free Credit Reports

The Fair and Accurate Credit Transactions Act (FACT Act) requires each of the three credit reporting companies to provide you with a free copy of your credit report, at your request, once every 12 months.

You can get your report at:

Annual Credit Report

www.annualcreditreport.com

 1-877-322-8228

Equifax

www.equifax.com

1-800-685-1111

Experian

www.experian.com

1-888-397-3742

TransUnion

www.transunion.com

1-800-888-4213

You should order a credit report from all three credit companies because they get their information from different sources.

You can also get a free report if:

  • A company takes adverse action against you, such as denying you credit
  • Your report is inaccurate because of fraud
  • You are unemployed and plan to look for a job within 60 days
  • You are on welfare

If you find inaccuracies in your report:

  • Tell the credit reporting company - they must investigate right away, and must forward your data to the company that provided the inaccurate information.
  • Tell the creditor in writing that you dispute the item

An employer or prospective employer cannot get a copy of your report without your written consent.

Check List for Victims

If you are a victim of identity theft you should do the following:

  • File a police report
  • Contact your banker
  • Notify credit bureau fraud units
  • Place a fraud alert statement on your credit report
  • Request that credit bureaus identify accounts closed due to fraud as “closed at consumer’s request”.
  • Request free credit reports (fraud victims are entitled to two free credit reports from each of the credit bureaus).
  • Report check theft to check verification companies
  • Check post office for unauthorized change of address requests
  • Follow-up contacts with letter and keep copies of all correspondence.

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