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Privacy Policy

Notice of Privacy Practices for Credit Union Members

OFCU's COMMITMENT - Our Promise to You!

Otero Federal Credit Union (OFCU) is owned by its members and is run by a volunteer board of directors you elect. You can be confident that your financial privacy is a top priority of this credit union. We are required by law to give you this privacy notice to explain how we collect, use, and safeguard your personal financial information.

Information We Collect and Disclose About You

We collect the following nonpublic personal information about you from a variety of sources:

  • From membership applications, loan applications, credit card applications, debit card applications, and other forms, we obtain information such as name, address, social security number, assets, and income.
  • From application forms used to open other types of accounts at our credit union, such as checking and IRA accounts, we obtain information such as name, address, social security number, assets, and income.
  • From your transactions with us, or from other companies that work closely with us to provide you with financial products and services, we obtain information such as your account balances, payment history, parties to transactions, and credit card usage.
  • From consumer reporting agencies, we obtain information such as your creditworthiness and credit history.
  • From verifications of information you provide on applications and other forms, we obtain information from current or past employers, other financial institutions and other references, guarantors, co-signers, and other sources listed on the application.

Otero Federal Credit Union may disclose all the information we collect as permitted or required by law. Among other lawfully permitted disclosures, the law permits us to disclose the above-described nonpublic personal information to companies that perform marketing services on our behalf and/or to other financial service providers with whom we have joint marketing agreements. The law also permits us to disclose the above-described nonpublic personal information to credit reporting services and bureaus. Other disclosures permitted by law typically include the disclosure of information to process transactions on your behalf, disclosures to conduct the operations of our credit union, disclosures required to follow your instructions as you authorize, and disclosures to protect the security of our financial records.

Disclosure of Information About Former Members

If you terminate your membership with Otero Federal Credit Union, we will not share information we have collected about you, except as permitted or required by law.

Information About an Important Disclosure That Does Not Apply to OFCU

When you receive notices of privacy practices from other financial institutions or financial service providers, you may be given the opportunity to "opt out" of certain disclosures other than those permitted by law. At OFCU the only disclosures of nonpublic personal information we make are those that are permitted by law that do not require an "opt out" notice. Be assured that if OFCU ever revises its Privacy Policy to allow disclosures that require an "opt out" notice, you will be given the opportunity to exercise your right to "opt out."

How We Protect Your Information

We restrict access to nonpublic personal information about you to those employees who have a specific business purpose in utilizing your data. Our employees are trained in the importance of maintaining confidentiality and member privacy. We maintain physical, electronic, and procedural safeguards that comply with federal regulations and leading industry practices to safeguard your nonpublic personal information.

What You Can Do to Help Protect Your Privacy

  • Do not give out personal information such as your account or credit card numbers unless you have initiated the contact.
  • Report lost or stolen checks immediately and examine new checks to assure none were stolen during shipment.
  • Store your checks in a safe location.
  • Destroy unused financial solicitations before discarding them.
  • Guard your ATM/Check/Credit Card numbers and treat your receipts with care. Do not leave them behind or throw them in the trash where they become accessible to thieves.
  • Make sure your mailbox is secure and promptly remove mail when delivered.
  • Contact the major credit reporting companies at least annually to review your file. A copy of your credit report is available for free at  
    The 3 major credit bureaus are:
    1. Equifax: 800-685-1111
    2. Experian: 800-397-3742
    3. TransUnion: 800-916-8800
  • If you have become a victim of identity theft or know someone who has, take these steps immediately:
    1. Contact us to protect your accounts
    2. Contact your other financial institutions/credit card issuers
    3. Contact the Social Security Fraud Hotline at 1-800-269-0271

Credit union members and the public may receive copies of this notice of privacy practices by contacting the credit union.

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