Privacy Principles

At Luther Burbank Savings, we have always emphasized the importance of personal and individual privacy. The following privacy policies have been adopted to sustain our commitment to our customers.

1. Recognition of Your Expectation of Privacy. We recognize that you expect privacy and security for your personal and financial information. We maintain standards and procedures designed to prevent misuse of this information.

2. Our Collection, Retention, and Use of Information about You. We collect, retain, and use information about you only where we reasonably believe that it will help administer your business or provide quality products and superior services.

3. Our Maintenance of Accurate Information. We have procedures to help assure that your financial information is accurate, current, and complete in accordance with reasonable business standards. We also have procedures to respond to your requests to correct inaccurate information in a timely manner.

4. Employee Access to Information. Only authorized Luther Burbank Savings employees, who are trained in the proper handling of customer information, have access to customer information. We regularly educate our employees about the importance of confidentiality and customer privacy through standard operating procedures and our policies on ethics. We take appropriate disciplinary measures to enforce employee privacy responsibilities.

5. Security Procedures to Protect Information. We maintain security standards and procedures designed to guard against unauthorized access to and disclosure of confidential client information.

6. Restrictions on Disclosing Information to Parties Outside Our Affiliated Banks and Companies. We do not reveal specific information about your accounts or other personally identifiable data to parties outside our affiliated companies for their independent use unless: (1) you request or authorize it in writing; (2) the information is provided to help complete a transaction initiated by you; (3) the information is provided to a reputable credit reporting agency consistent with regular bank practices; or (4) the disclosure otherwise is permitted or required through a legal document.

7. Maintaining Your Privacy in Business Relationships with Parties Outside Our Affiliated Banks and Companies. Our outside vendors, hired to provide support related to our products or services, have limited access to customer information. These vendors and service companies agree to safeguard our confidential information about you and your products and services with us and must abide by applicable law.

8. Disclosing Our Privacy Commitment to You. We have prepared these Privacy Principles to provide you with a better understanding of our commitment to maintaining your confidential information.

These Privacy Principles apply to individuals, and we reserve the right to change them, along with related provisions, at any time.