Financial Tools Disclosures


DISCLOSURES


We want you to stay informed, so we’ve provided the links to all of our important disclosure information. Take a look and let us know if you have questions.

It is the policy of SPCO Credit Union to maintain the confidentiality and privacy of our members to the best of our ability. While transacting financial business, it is sometimes necessary for us to transmit and receive confidential member data with 3rd party providers. We have chosen to conduct business with those 3rd party providers who are committed to maintaining member privacy and confidentiality.

Member Information

We collect information about members from the following sources:

  • Membership Applications
  • Loan Applications
  • Credit Reporting Agencies
  • Employers (past and present)
  • Other Financial Institutions

We dispense member information to the following parties:

  • Credit Reporting Agencies
  • Our Data Processing provider
  • Insurance Companies
  • Government Agencies (only when required)

SPCO Credit Union has not authorized those 3rd parties to release confidential member information to any other parties. We do not sell or distribute our membership information.

If you have any questions about our Privacy and Confidentiality Policy, please feel free to contact us at:

SPCO Credit Union
12755 N. Houston-Rosslyn Rd
Houston, TX 77086
Telephone Number: 713.455.8586
Fax Number: 713.455.8588

Customer Identification Program under the USA Patriot Act

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.As a result, when you open an account, we will request certain information that will allow us to identify you.

When you submit your Membership Application, this should include your name, date of birth, residential or business address, city, state and zip code. In addition, we will need an Identification number, which shall be:

  • for a U.S. person, a taxpayer identification number; or
  • for a non-U.S. person, one or more of the following: A taxpayer identification, passport number and country of issuance; alien identification card number; or number and country of issuance of any other government-issued document evidencing nationality or residence and bearing a photograph or similar safeguard.

We may also ask to see your driver’s license or other identifying documents to verify the above information. Acceptable primary forms of identification include an unexpired, photo ID such as:

  • State issued driver’s license
  • Concealed handgun permit
  • State issued ID
  • US Military ID
  • Passport
  • Matricular Card
  • Social Security Card (minors only)
  • US Government ID
  • Foreign Government ID

If needed, there are additional options for secondary forms of identification.

Truth in Savings

The Truth in Savings Act is a U.S. federal law that establishes uniformity in the disclosure of the terms and conditions regarding interest rates and fees, when giving out information or opening up accounts. This Act requires clear and uniform disclosure of interest rates and the fees associated with the account so that you can make meaningful comparisons between potential accounts.

The SPCO full account disclosure, including Truth in Savings, can be found here.
Truth in Savings PDF

If you have a problem with the services provided by this credit union, please contact us at:

SPCO Credit Union
12755 N. Houston-Rosslyn Rd.
Houston, TX 77086
Telephone Number: (713) 455-8586

The credit union is incorporated under the laws of the State of Texas and under state law is subject to regulatory oversight by the Texas Credit Union Department. If any dispute is not resolved to your satisfaction, you may also file a complaint against the credit union by contacting the Texas Credit Union Department at:

Texas Credit Union Department
914 East Anderson Lane
Austin, TX  78752-1699
Telephone Number: 512-837-9236
www.cud.texas.gov

The Texas Administrative Code, Title 7, Part 6, Chapter 91, Subchapter C, Rule 91.315 Members’ Access to Credit Union Documents, provides the membership access to certain credit union documents. The purpose of this policy is to ensure that SPCO Credit Union complies with that rule.

DOCUMENTS AVAILABLE TO MEMBERS:

Upon request, a member is entitled to review or receive a copy of the following documents:

  • Balance sheet and income statement – the non-confidential pages of the latest NCUA 5300 Call Report may be provided to meet this requirement
  • Summary of the most recent annual audit
  • Written board policy regarding access to the articles of incorporation, bylaws, rules, guidelines, board policies, and copies thereof; and
  • Internal Revenue Service Form 990

INSPECTION PROCEDURES:

The individual requesting access to credit union documents must be a member of the credit union. The member must provide a written request, stating which documents are requested. The credit union shall respond within 14 days and keep copies of all requests and documents for recordkeeping purposes.Member inspection rights under this section are in addition to any other member inspection rights afforded by the credit union’s charter or bylaws or other state and federal laws or regulations.

CONFIDENTIAL BOOKS, RECORDS, AND MINUTES:

Members do not have the right to inspect any portion of the books, records, or minutes of a state chartered credit union if:

  • State and/or Federal law or regulation prohibits disclosure of that portion.
  • The publication of that portion could cause the credit union predictable or substantial financial harm.
  • That portion containing nonpublic personal information, as defined in the Gramm Leach Bliley Privacy Act and NCUA Regulation 716.3 (dealing with member privacy and the disclosure of information) would constitute a clearly unwarranted invasion of personal privacy of employees or officials.

COSTS:

The credit union may charge members the direct and reasonable costs associated with search and duplication. The credit union will not charge for other costs, including indirect costs or attorney’s fees.

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