Patriot Act

Metrum Community Credit Union riot Act Customer Identification Program

All financial institutions are now required to comply with the Patriot Act Customer Identification Program (CIP) on new accounts. This regulation relates to the identification and verification of any person who applies to open an account.

How this can affect you as a member
If you or a family member opens a new account with MCCU, additional identification will be requested. When applying for a loan and the co-maker or owner of collateral is not a member of MCCU, they will be asked for additional identification.

Account is defined as any formal credit union or business relationship established to provide ongoing services, dealings, and/or other financial transactions.

Member is defined as an individual or other persons such as businesses and trusts, or a signatory on an account; i.e. joint owners, co-signers, and/or owners of collateral.

The following are examples of requirements the credit union must meet when a new account is being opened or additional identification is requested:

A. Verify member identification– the member needs to provide identifying information to the credit union. Name, address, date of birth, and some type of officially issued identification number.

B. When the credit union is unable to verify identification– the credit union will not open an account for, or use as a co-signer or owner of collateral, anyone who we cannot verify their identification as stated above.

C. Notification to the membership– the credit union will notify the membership of this policy on an annual basis.

For a complete copy of this policy, please contact the credit union at 303-770-4468.