Ulster Savings Bank has always taken pride in our ability to protect the important information concerning our customers. When a customer opens an account with us, that customer provides us with private, personal and financial information, and we are committed to maintaining the confidentiality of that information. It is the job of the entire staff of Ulster Savings Bank to ensure that this vital information is protected from inappropriate use by anyone. Our customers are protected by both federal and state laws concerning their private information, but most importantly by Ulster Savings Bank and our commitment to them as described in the following Customer Privacy Policy:

Information Collection

Ulster Savings Bank maintains information and data about our customers for many reasons. We have learned that the more we know about our customers, the better we can understand their needs and then provide them with the appropriate services required to fulfill those needs. Customer service, the cornerstone of Ulster Savings Bank, is our most important asset.

We also collect and analyze customer information as the first step in product development. Our marketing department uses this information to spot trends or changes in the way our customers manage their finances. With this constantly updated information, we are able to create new products and services or improve existing ones, giving our customers more effective money management tools and more choices concerning their investments.

We are required by law under certain circumstances to collect information such as a taxpayer identification number or a social security number for many of our accounts, including savings accounts, checking accounts, or investment accounts that pay interest. We use this data to maintain the security of our customers' accounts and protect the privacy of their financial information. We use this information to positively identify the customer and their accounts and services, to prevent access by unauthorized individuals.

Accuracy of Information

Ulster Savings Bank is committed to maintaining a complete and accurate information package on each of our customers. The information we gather when accounts are opened at any of our offices is entered into our data base and doubled checked for accuracy. If a customer receives any information from the bank that they feel is incorrect, they should notify us immediately. We will take prompt action to make the appropriate corrections and to notify anyone with whom we may have shared inaccurate information. We have a responsibility to our customers to report complete and accurate information, and we take that responsibility very seriously.

Sharing Customer Information

In our continuing effort to provide our customers with superior service and offer products we think will be useful, we will share customer information with only the wholly owned subsidiaries of Ulster Savings Bank. Our insurance company, our tax services, and our financial services and investments subsidiaries may share the information obtained by Ulster Savings Bank. If personally identifiable information is provided to one of our subsidiaries, we will insist that the subsidiary adhere to the same standard of privacy policies as contained in this privacy policy. As a result of this sharing, our customers may receive from time to time statement stuffers or messages concerning new or enhanced products, special promotional offers, and certain discounts they may not have known about or been eligible to receive, if we did not share this information. We want to assure our customers that we will try to limit the use and collection of customer information to only what is necessary to conduct our business, provide excellent service, or offer our customers opportunities that we think will be useful to them. Our customers have our commitment to use their private information only in accordance with the principles outlined in this policy.

If in the future, Ulster Savings Bank does decide to share information with an outside entity, we will first inform our customers of the process, and then we will give each of our customers the opportunity to "opt-out" of this program. At that point they will be assured if they do indeed "opt-out" of that particular program they will not receive any promotional information from that outside source. At the present time we will not share any identifiable information with any outside source other than wholly owned subsidiaries of Ulster Savings Bank or as directed by the balance of this policy.

Sharing Information with Other Companies

We are required by law to share our customers' financial information with parties named in a lawsuit or administrative action when we are served with a subpoena or court order and with federal or state regulatory agencies, such as bank examiners, or the Internal Revenue Service. We also share information about our customers with the reputable credit reporting agencies, or to verify information our customers have requested from us for other financial institutions in the form of account verifications. We will share our customers' account information with only reputable firms, and only as lawfully permitted or required. If personally identifiable information is shared with either credit reporting agencies or other financial institutions, or other entities that service our bank, we will insist that the third party comply with our privacy policies as outlined in this document.

Employee Access

All of our employees are instructed as to their responsibility to maintain the confidentiality of our customers' important financial information. Only those employees that need customer information to perform their duties are authorized access to that information. They are instructed to use the utmost care to ascertain the identity of the person requesting the information, and that the information is being used for lawfully permitted uses. Access to our customers' personal information is limited to those with a business reason to know this information.

Protection of Information

Ulster Savings Bank is committed to protecting our customers' financial and personal information. All of our operational and data processing systems are held in a secure environment that protects our customers' account information from being accessed by third parties. We maintain and grant access to customer information only in accordance with the criteria outlined in this privacy policy. We are dedicated to providing our customers with the best products and services available, and as your community bank, we will continue our tradition of giving back to the communities we serve. We will notify our customers on an annual basis concerning our privacy policy, and if any changes are made to it, our customers will be notified immediately.

Ulster Savings Bank Online Banking Privacy Policy

Ulster Savings Bank is committed to providing the highest level of security and privacy regarding the collection and use of our online banking customers' personal information, as well as that of all visitors to our website. Personal information may be collected through the submission of account applications, online banking transactions, or through the use of online financial tools such as interactive calculators. A detailed description of Ulster Savings Bank Online Banking Privacy Policy is provided below. If you have additional questions regarding the privacy of your personal information, contact us at marketing@ulstersavings.com.

Respect of Right to Privacy

Ulster Savings Bank respects your right to privacy and takes every precaution to provide you with the same level of privacy within our virtual branch that you receive through more traditional bank delivery channels.

Collection and Use of Personal Information

The collection of personal information online is designed to protect access to your personal accounts and to assist the bank in providing you with the products and services you want and need. All personal information collected and stored by the bank is used for specific business purposes—to protect and administer your personal accounts and transactions, to comply with state and federal banking regulations, and to help the bank better understand your financial needs in order to design or improve our products and services.

Employing stringent security measures in the collection of your personal information, all Ulster Savings Bank online account applications are submitted to the bank’s secure administration site through an encrypted direct line to the bank. Once received by the bank, only approved personnel may open and process the application. Furthermore, auditing mechanisms have been put into place to further protect your information by identifying which employee(s) accessed and in any way modified—for example, updated or added to—your personal information.

Maintenance of Accurate Information

It is in the best interest of both you and the bank to maintain accurate records concerning your personal information. For this reason, Ulster Savings Bank allows you to update your personal information online, at anytime, through the submission of encrypted email requests sent to the bank’s secure administration site. Notifications are immediately sent to approved bank personnel alerting them to the receipt of your request. This procedure allows Ulster Savings Bank to update your personal information within a timely manner.

Limited Employee Access to Personal Information

Ulster Savings Bank limits employee access to your personal information to only those bank administrators with a business reason for knowing such information. Ulster Savings Bank also educates all employees about the importance of confidentiality and customer privacy. In addition, individual user names and passwords are used by approved bank personnel to access your personal information online, providing audit trails to further safeguard the privacy of your personal information.

Third-Party Disclosure Restrictions

Ulster Savings Bank follows strict privacy procedures in regard to protecting your personal information. In addition, the bank requires all third parties with a business need to access this information to adhere to similar and equally stringent privacy policies. Personal information may be supplied to a third party: to process a customer transaction; if the customer requests it; if the disclosure is required or allowed by law (i.e. exchange of information with reputable reporting agencies, subpoena, or the investigation of fraudulent activity, etc.); or for marketing purposes of which the customer has been previously informed and has been given the opportunity to decline.

Disclosure of Privacy Policies

Ulster Savings Bank is committed to ensuring the privacy of its customers’ personal information. For more information regarding the Ulster Savings Bank Online Banking Privacy Policy, contact marketing@ulstersavings.com.