Our Privacy Policy

The following privacy principles were established to maintain the security, integrity and confidentiality of your personal financial information. Be advised that the Privacy Policy does not apply to business accounts.

The type of information we collect

We routinely collect and retain the information we obtain from you on applications, your transaction history with us or others (for deposits, loans, etc.) and from consumer reports. This information helps us:

• To establish and administer your accounts. (Example: We ask for personally identifying information to protect your accounts from fraud.)
• To satisfy certain regulatory requirements. (Example: When you open an account that pays interest, we are required by the Internal Revenue Service to obtain your social security number.)
• Better understand you so that we may provide you with additional or improved products and services. (Example: We require information concerning your credit history and your assets to determine if you qualify for loan approval.)

How we put this information to use for you:

• To provide you with the highest quality service. Information allows us to respond quickly to your needs and to maintain accurate, up-to-date account records.
• To protect you. We use information to confirm your identity when you contact us, and to safeguard against unauthorized access to your accounts.
• To make you aware of services that may be of value to you. We use information to identify the most effective solutions to your financial needs.

The Severn Savings Bank Family

The Severn Savings Bank Family is made up of Severn Savings Bank and Severn Financial Services, which is a subsidiary of Severn Savings Bank. Severn Savings Bank and Severn Financial Services work together to provide you with the highest quality service and effective solutions to your finance needs. To do so, we may share some information we obtained about you (as previously described) within the Severn Family. Information may be shared with Severn Financial Services to provide insurance and investment products and services.

Companies outside the Severn Family

If we believe that an outside company can help us to meet your needs, we may hire it to perform specialized functions for us, such as printing checks or producing ATM and debit cards. Also, we may partner with other financial institutions to offer, endorse or sponsor financial products and services jointly, such as mortgage brokers and insurance agents. In all situations referenced here, we share the information we obtain about you (as described previously) only to the extent necessary to allow these companies to perform services for us, or to provide you with products or services.

How is that information protected?

Access to your personally identifiable financial information is limited to employees with a specific business reason for utilizing this data. Our employees are educated about the importance of maintaining confidentiality and customer privacy. If necessary, we take appropriate disciplinary steps to enforce our employees' responsibility to protect your very personal information. In order to prevent unauthorized access to your information, we maintain security standards and procedures that conform to industry practices. These security standards and procedures are routinely tested to verify the integrity of our systems.

Disclosure of Information

Companies Outside the Severn Family

In this policy, we've described how we may share some information about you with carefully selected companies outside the Severn Savings Family in order to offer you products and services we don't offer, endorse or sponsor ourselves. If you'd prefer, you can direct us not to share any information for these purposes, and we will honor your request.

Within the Severn Family

As we've described, the companies in the Severn Family may share some information about you with each other to provide you with products and services to help meet your needs, and to make your banking more convenient. If you prefer, you can direct us to not share certain information with the Severn Family of companies — namely credit-related information from other financial institutions or information that you have provided to us — and we will honor your request. Please note that if you exercise this option, we may still share some information within the Severn Family, but only to the extent allowed by law, such as that which relates to your transactions and experiences with us.

Your rights to limit information sharing

If you'd like to limit the amount of your information that we share within the Severn Family and/or with outside companies, you may do so by using our "Opt-Out" Notice, or by calling us at 1-800-752-5854 x 2029. You will be required to provide us with your name and your Severn account number, or the last four digits of your social security number, in order to put the limitation on information sharing into effect. This limitation on information sharing only applies to your personal (not business) accounts at Severn Savings Bank.

Marketing Opt-Out provided by the Severn Family of Companies.

Federal law also gives you the right to limit some but not all marketing offers from the Severn Family of companies. We are required by Federal law to let you know of your choice to limit marketing offers. You may limit Severn Savings Bank affiliates such as Severn Financial Services from marketing their products and services to you based on your personal information that they receive from other members of the Severn Family. This information may include income data, account history or your credit score.

Once we hand-deliver, mail or electronically deliver, if agreed upon by you, the notice to opt-out, we will allow you a reasonable opportunity, such as 14 days for non-electronic notices, to opt-out. For an isolated transaction, such as the purchase of a cashier's check, we allow you a reasonable opportunity if we provide you with the required notices at the time of the transaction and request that you decide as a necessary part of the transaction, whether to opt-out before completing the transaction. You can opt-out of information sharing at any time, and you only need to do so once, regardless of the number of accounts you have with us. If you have previously opted-out, you need not do so again. Your decision to do so will be honored for as long as you have any accounts with any of the companies within the Severn Family and for a period of seven years after you close your accounts with us — unless you advise us in writing to remove the limitations.

Residents of California, Vermont and New Mexico

Residents of the states of California, Vermont and New Mexico are provided additional rights according to state law. As a result, residents of California, Vermont and New Mexico do not have to take any further action to limit the sharing of information — such limits are already in place. For residents of these states, Severn Savings Bank will not share any of our consumers' non-public personal financial information (other than as permitted by law) with affiliated or nonaffiliated third parties, unless authorized by our consumer to do so, using our "Opt-In" Notice.