Patriot Act

What is the USA Patriot Act?

Anti-terrorism legislation enacted after September 11, 2001, requires all financial institutions, including Griffith Institute Employees Federal Credit Union, to put specific procedures in place to improve security and verify the identity of all people that we do business with.   It has been found that terrorist groups use our financial institutions to funnel money and commit crimes.

What information does Members 1st obtain and why?

To comply with the USA Patriot Act, we are required to verify the identity of individuals applying for and opening new accounts or services with our Credit Union.

Information we are required to obtain includes your name, mailing and residence address, tax identification number, date of birth and a copy of a government issued photo ID. Additional information may also be gathered depending on the type of account applied for or opened.

Identification and information on existing members will be gathered as they open or use additional services offered by our Credit Union. The Act requires us to maintain records of the identification verification and to periodically update this information. Confidentiality of the information gathered and used by our Credit Union will be maintained as required under the Privacy Act.

How does this affect me?

The USA Patriot Act was passed as an effort to improve public safety and should not directly affect most people. We will ask to verify your identification occasionally.  In addition, this is a good safety precaution because of the increase in identify theft over the past several years.

I've been a member for years, why are you checking me?

To guarantee that nobody "slips through the cracks" the law is written so that all member identities are verified. This will not have to be done each time you visit, but it will be done periodically.

What Will The Credit Union Do With My Identification?

We are required to keep proof that we have verified who you are. We will keep a record to show we are complying with the USA Patriot Act. Our member base is periodically checked against a list of known or suspected terrorists. The USA Patriot Act should have little to no effect on law-abiding citizens.

The need for us to comply with the USA Patriot Act helps create a more secure country, making certain our financial institutions are not inadvertently aiding people or groups who wish us harm.