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Opting Out of Information Sharing

Opting Out of Information Sharing

Federal regulations allow financial institutions, insurance companies, and brokerage firms to share much of your personal information with third parties IF they first

  1. have explained their privacy policies to you and
  2. have given you an opportunity to opt-out of this information sharing.

They must tell you their privacy policies when they begin a relationship with you and remind you of their policies once each year.

DCU will never sell your information. We value your trust and take significant steps to protect your privacy. We never sell our mailing lists or the financial information of our members. Our Privacy Policy spells this out. Unfortunately, there are firms that do put profit before trust.

How to opt out to protect yourself

If you want to opt out of having a company share your information, you must follow the company's policy. Different companies have different ways to opt out of information sharing. Some may offer a toll free number, others an unsubscribe link on the company website, while others might require you to fill out a form and return the form to a specific address.

Below is an outline of a letter you can use to opt out of information sharing with the other financial institutions, insurance companies, and brokerage firms you deal with.

[Your full name]
[Your full street address]
[City, State ZIP]
[Month, Date Year]

[Name of the company]
[City, State ZIP]

Attn: "OPT OUT" Department

Dear Sir or Madam:

Regarding these accounts:
[list your name, the name of each account, and the account number here]

I am asserting my rights under the Financial Services Modernization Act and the Fair Credit Reporting Act to "opt out" of the following two uses of my personal information:

  1. You do not have permission to disclose personally identifiable information with your non-affiliated third-party companies or individuals.
  2. You do not have permission to disclose my credit worthiness to any affiliate.

Please respond to me in writing stating that you will comply with these instructions. If I have not received a letter within thirty days specifically denying my instructions, I will assume your records have been noted to comply with this letter.


[your signature and date]
[Your name]

Mail your letter in a sealed envelope to each company. Use only your return address (not your Social Security number or account number) on the return envelope.

For more information, see "Privacy Choices for Your Personal Financial Information" on the Federal Trade Commission website.