Privacy Statement

Rev. 01/2014

FACTS WHAT DOES OXFORD UNIVERSITY BANK DO WITH YOUR PERSONAL INFORMATION?
Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
What?

The types of personal information we collect and share depend on the product or service you have with us. This information can include:

  • Social Security number and account balances
  • transaction or loss history and payment history
  • overdraft history and income

When you are no longer our customer, we continue to share your information as described in this notice.

How? All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons Oxford University Bank chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information Does Oxford University Bank share? Can you limit this sharing?
For our everyday business purposes—
such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus
 
Yes No
For our marketing purposes—
to offer our products and services to you
No We don't share
For joint marketing with other financial companies Yes No
For our affiliates' everyday business purposes—
information about your transactions and experiences
No We don't share
For our affiliates' everyday business purposes—
information about your creditworthiness
No We don't share
For nonaffiliates to market to you No We don't share
Questions? Call 662-234-0622 or go to www.oubol.com/policies.htm

Who we are
Who is providing this notice?

We are a state-chartered bank and our primary federal regulator is the Federal Deposit Insurance Corporation (FDIC).


What we do
How does Oxford University Bank protect my personal information?

To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.

How does Oxford University Bank collect my personal information?

We collect your personal information, for example, when you

  • open an account or deposit money
  • apply for a loan or make a wire transfer
  • show your driver's license

We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.

Why can't I limit all sharing?

Federal law gives you the right to limit only

  • sharing for affiliates' everyday business purposes—information about your creditworthiness
  • affiliates from using your information to market to you
  • sharing for nonaffiliates to market to you


State laws and individual companies may give you additional rights to limit sharing. We only disclose information about you as the law permits.


Definitions
Affiliates Companies related by common ownership or control. They can be financial and nonfinancial companies.
  • Oxford University Bank has no affiliates
Nonaffiliates Companies not related by common ownership or control. They can be financial and nonfinancial companies.
  • Oxford University Bank does not share with nonaffiliates so they can market to you.
Joint marketing A formal agreement between nonaffiliated financial companies that together market financial products or services to you.
  • Our joint marketing partner is Card Assets, LLC, our credit card vendor.

Other important information
Oxford University Bank does not disclose any nonpublic personal information about our customers or former customers to anyone, except as permitted by law.

When is Personal Information Collected On-line?

On-line Banking and Bill Pay
When you bank On-line with our bank or use our On-line Bill Pay service, our bank and our business partners who help us deliver these services to you will have access to your Personal Information. This information is retained on either our bank’s or our partners’ systems in order to provide you with the services you have requested.

Applications
When you apply On-line for products or services, or when you enroll in On-line banking, you will be asked for Personal Information in order to process your application. The bank and its business who help provide you with the product or service may retain this information.

Planners and Calculators
When you use various calculators, planners or questionnaires on our web site, you may be asked for Personal Information in order to complete the requested analysis or evaluation. The provider of the calculator, planner or questionnaire may retain this information.

E-mail
When you send us e-mail, we will retain the content of the e-mail, your e-mail address, and our response in order to handle any follow-up questions you may have.

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How does your bank use the Personal Information you Provide On-line?
Or bank has the highest regard for the privacy of it customers. As a result, we safeguard the privacy of users of our On-line services, just as we do throughout the rest of our businesses.

Our bank will use Personal Information, as appropriate in the normal course of our business, to provide you with the products and services you have requested. We will aslo use Personal Information to identify you, to communicate with you, to help us respond to your questions and to understand which our bank’s products and services will best meet your needs.

Do you sell Personal Information transmitted On-line to people outside of your bank?
Our bank will not sell Personal Information to a third party for the purpose of solicitation or provide Personal Information to a third party for its own, independent use. We may, however, share Personal Information with our business partners in order to deliver products and services, which you have requested, and in order to communicate with you about our bank, its products and its services.

Can I be taken off any solicitation lists?
Sometimes we send our customers information about products and services that we believe will be interesting to them. If you do not wish to receive this information, please call us at (662)234-6668.

Can I check my Personal Information to see if it is correct?
If you have any reason to believe that your Personal Information retained at our bank is incorrect, please call us at (662)234-6668. We will investigate the problem and, if appropriate, update the bank’s records.

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Excessive Expenditures Policy
Adopted September 14, 2009
Revised June 9, 2010

Oxford University Bank will not engage in excessive spending on entertainment or events that are considered unnecessary for business purposes. Excessive entertainment or an excessive event is quantitatively defined as any single occurrence or event where the per capita expenditure exceeds $2,500. Trade association conferences, conventions, training, off-site planning meetings and off-site board of directors meetings are a necessary and customary component of the successful operation of the bank and therefore not considered excessive events.

Excessive or unnecessary expenditures for travel are prohibited. Employees and directors are encouraged to travel to and from business meetings, conferences, conventions, events, etc. in a bank provided vehicle. Absent the availability of a bank provided vehicle, employees and directors are encouraged to travel in personal vehicles and will be reimbursed for mileage at the per mile rate defined by the Internal Revenue Service. Employees and directors will be reimbursed for fuel costs when a bank vehicle is used. When air travel is most cost effective or required due to the distance of the event, employees and directors will travel coach unless they’ve received prior approval to travel in a different class. Use of a private aviation service is prohibited unless there is no other alternative available. The Board of Directors will review the circumstances surrounding the use of a private aviation service, should this occur, and will determine if the circumstances necessitated its use and if the employee or director is entitled to reimbursement for the expense.

Conservative budgeting and careful selection of service providers are practiced when the need arises for maintenance, repair or replacement of office equipment, appliances or furnishings. Enhancement, renovation or construction of facilities is undertaken when deemed necessary by executive management for purposes such as: providing efficient and convenient service to customers, enhancing operational efficiency, complying with applicable fire codes and ADA requirements, maintaining a safe, sanitary and clean work environment, enhancing the public image of the organization or expanding the business operation. The proposed enhancement, renovation or construction shall be similar in quality to the existing facilities or offices of the institution. Expenses for renovation, enhancement or construction require the prior approval of the CEO or their designee. Projects expected to exceed 25,000.00 require the prior approval of the Board of Directors. In the event of an unforeseen disaster, the CEO or their designee may authorize any repair or expense required to secure the safe and effective operation of the bank without prior approval.

Expenses incurred by the bank for other activities or events in which employees and/or directors participate should: enhance professional development, provide reasonable performance incentives, encourage business development, aid in customer retention, support marketing and public relations agendas or demonstrate community goodwill and involvement. Expenditures of this nature are not considered excessive and may be approved by any member of executive management. Expenditures of this type exceeding 2500.00 require the approval of the Chief Executive Officer or their designee.

Section 111 of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5221) requires that recipients of TARP investments develop a written policy placing limitations on what certain individuals or government agencies may deem to be luxury or excessive expenditures. This policy meets that requirement. This policy does not alter any provision in any employment contract that was in place prior to February 2009 regarding the use of expense accounts or bank provided automobiles. This policy is not intended in any way to limit or restrict the normal and customary expenditures of the bank for business development, employee morale, training or the ongoing operation of the bank. 1All employees of Oxford University Bank, the sole subsidiary of Lafayette Bancorp, Inc., are subject to this policy and accountable for compliance with it. This policy shall be enforced by the Compensation Committee of the Board of Directors of Lafayette Bancorp, Inc. Suspected violations of this policy shall be promptly reported to the acting Chairman of said committee. This policy was adopted by the Board of Directors of Lafayette Bancorp, Inc, Oxford University Bank, on the 14th day of September, 2009 and revised by same for inclusion of footnote 1 on June 9, 2010.

1 Revised for inclusion 6/9/10

NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS

All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules.

The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

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