Privacy Policy

June 2008

Purpose

The purpose of the Privacy Policy below is to define the Bank's policy for protecting the privacy and security of confidential customer and consumer information. The following policy is sent to all customers annually, is provided to all new customers, and is posted on all Bank web sites.

For purposes of United Commercial Bank's (The Bank or "UCB") Privacy Policy, the following definitions have been incorporated into the policy:

  1. Consumer information is defined as any record about an individual, whether in paper, electronic, or other form, that is a consumer report or is derived from a consumer report and that is maintained or otherwise processed by or on behalf of the Bank for a business purpose. Consumer information also means a compilation of such records.
  2. Service provider is defined as any person or entity that maintains, processes or otherwise is permitted access to customer or consumer information through its provision of services directly to the Bank.

Privacy Policy

At United Commercial Bank ("UCB"), we value the trust that our customers (and consumers) have placed in us and recognize that keeping customer and consumer information secure is one of our most important responsibilities. This policy covers our customers' nonpublic personal information and applies to all UCB companies.

Information We Collect

We collect the following six categories of nonpublic personal information, which is defined as personally identifiable financial information that is not publicly available:

  1. Identification Information - Information we receive that identifies our customers and consumers such as names, addresses, telephone numbers, social security numbers, and e-mail addresses.
  2. Transaction and Experience Information - Information about our customers' account transactions and experience with UCB companies, as well as our communication with the Bank's customers and/or consumers. Examples include your account balances and payment history.
  3. General Information - Information, such as demographics, that is not obtained or used for the purpose of determining your eligibility for a product or service. Examples include education level and number of family members.
  4. Application Information - Information we collect from consumers and our customers on loan, deposit, or other application forms, as well as information requests obtained through our web site or portal. Examples include income, other credit accounts, and whether the customer has bank accounts at other financial institutions.
  5. Consumer Report Information - Information we receive from consumer reporting agencies. Examples include credit histories and credit scores.
  6. Information from Outside Sources - Information from other parties regarding their employment, credit, or other relationship with consumers and our customers. Examples include employment histories, payment histories, and loan balances.

Information We May Disclose

To provide our customers with better financial services, we may disclose the information that we collect, as described above, for the following purposes:

  • Sharing Among Affiliates:  We may share the following information about our current and former customers among our affiliates: identification, and transaction and experience information, but not for marketing purposes. In addition to UCB, UCB companies include financial service subsidiaries such as California Canton International Bank - Cayman Ltd. (a bank), UCB Asset Management, Inc (an investment advisory company), UCB Investment Services, Inc. (a brokerage company), and U. F. Service Corporation (a trustee company).
  • Disclosing to Service Providers: We may disclose any of the six categories of customer (and consumer) information outlined in this Policy to companies that provide the financial services we ask them to perform for our current and former customers. For example, we provide the customers' names, addresses, and account numbers to a printing company to print the customers' checks, and to a data processing company that processes the customers' transactions and generate account statements. Additionally, we provide loan documents to our customers' designated escrow companies to close loan transactions. The Bank will be responsible to ensure that service providers that have access to consumer information will dispose of the information in compliance with the Bank's information security standards.
  • Disclosing for Marketing Efforts to Non-affiliated Third Parties:  We may disclose identification, and transaction and experience information about our current and former customers to companies that perform marketing services on our behalf or other financial institutions that have joint marketing relationships with us under written agreements. For example, we may provide our customers' names and addresses to our joint marketing partners. However, we do not disclose account numbers to non-affiliated third parties for marketing purposes of any kind, including telemarketing, direct mail marketing, or electronic mail marketing.
  • Other Circumstances:  We may disclose any of the six categories of customer information to "nonaffiliated third parties" as requested or permitted by law under certain circumstances. For example, we may disclose nonpublic personal information about our current and former customers to third parties in response to your authorization, subpoenas, regulatory authorities, or other requests from law enforcement agencies. Additionally, we may disclose customer information to credit bureau, to protect against fraud, money laundering and other risks, and to provide information in connection with a proposed or actual sale, merger, or transfer of all or a portion of a business.

At this time, it is the practice of the Bank not to sell, share, transfer or disclose nonpublic personal information to or with any affiliated or nonaffiliated third parties. If the Bank were to engage in such a practice, it would comply with all applicable state and federal laws and regulations, including but not limited to any customer opt-out requirements.

We do not share the nonpublic personal information about our current and former customers that we obtain from an external source, including a credit-reporting agency.

Confidentiality and Security

We restrict access to Bank consumer and our customers' personal information to our employees for business purposes only. All employees are trained and required to safeguard such information. We maintain physical, electronic and procedural safeguards that meet or exceed federal security standards to protect our consumer and customers' personal information. In addition, we routinely reassess and upgrade our security system to ensure protection of such information.

Each of the entities that provide services and products to our customers and consumers on our behalf and have joint marketing relationships and written agreements is contractually obligated to keep our customers' information confidential and to use the nonpublic personal information only for providing services as requested by us. The confidentiality clause is stated in the contracts we signed with these entities.

Maintenance of Accurate Information

We have implemented procedures to ensure that our customer information is accurate, current and complete. We also have procedures to respond to our customers' requests to correct inaccurate or outdated information in a timely manner.

Changes in Policy and Contact Information

We will provide our customers with a copy of our privacy policy each year. This policy may change from time to time, but our customers may always review our current privacy policy at our web site at www.ibankunited.com.

For additional information regarding UCB's Privacy Policy, please call our Customer Service Representatives at 1-800-821-3899, or write to us at United Commercial Bank, P. O. Box 7670, San Francisco, CA 94120-7670, Attention: Privacy Officer.

Additional information: www.federalreserve.gov/pubs/privacy/default.htm