The USA Patriot Act
The New Horizons Federal Credit Union
Complies with the USA Patriot Act
The New Horizons Federal Credit Union (TNHFCU) has adopted a policy to comply with the requirement of the USA Patriot Act to establish the identity of individuals and entities seeking to open accounts with us.
At a minimum the TNHFCU Customer Identification Program (CIP) will require:
- Verifying your identity when you seek to open an account;
- Maintaining records of the identifying information used to identify you from unexpired government issued identification and/or non-documentary identification methods; and
- Determining whether your name appears on any government list provided to us by federal agencies.
New and existing members who establish any type of account, savings, checking, certificate of deposit, or any loan account will be subject to the CIP procedures. CIP procedures will also apply to joint owners, co-borrowers, beneficiaries, or any other person or entity establishing a forma account relationship with TNHFCU. Persons and entities may be required to provide two forms of identification which may include a current driver’s license or a current government issued identification card and a social security card or federal Employer Identification Number.
New members must provide a name, date of birth, address, ad identification prior to opening any account. TNHFCU will maintain this information for five years after the account is closed. We will take reasonable steps in verifying this information through documentary or non-documentary verification methods as required by the USA Patriot Act CIP regulations. The verification methods we will use are specified in our CIP procedures.
The New Horizons Federal Credit Union CIP program will require additional verification for individuals whose identity cannot be verified using standard verification methods. We will not open an account if the identity of the applicant cannot be determined.
New Horizons is in compliance with the Patriot Act verification requirements and we have implemented the necessary procedures to remain compliant.