Hours of Operation:

Monday - Friday
9:00 am - 5:00 pm

Phone: 920.722.6162

Fax: 920.722.2699

Audio Response: 1.800.837.7533

CONE Credit Union
U.S. Patriot Act Policy

CONE CU complies with the U.S. Patriot Act

1. CONE CU will exercise due diligence and observe all requirements for foreign correspondent accounts and private banking accounts of non-U.S. persons.
   
   
2. CONE CU will exercise enhanced due diligence requirements which are applicable to banks with offshore licenses or in jurisdictions that are non-cooperative or of primary money-laundering concern.
   
   
3. CONE CU will not maintain a correspondent account in the U.S. for, or on behalf of, a foreign bank that does not have a physical presence in any country.
   
   
4. CONE CU will cooperate with other financial institutions, regulatory authorities and law enforcement authorities in sharing information which may be helpful in the pursuit of criminal or suspected criminal activities.
   
   
5. CONE CU will retain records to make information and account documentation available to regulators and law enforcement.
   
   
6. CONE CU will establish minimum procedures for identifying and verifying the identity of customers.
   
   
   1. Every new member and every member (including individuals, corporations, partnerships, groups and trusts) seeking to open an account, whether or not they actually do, will be required to provide photo ID, showing positive identification including the member’s name, address, date of birth and an identification number (for U.S. persons, a Social Security number).
      
      
   1. For non-U.S. persons, one or more of the following: a taxpayer identification number, passport number and country of issuance, alien identification card number or number and country of issuance of any other government-issued document evidencing nationality or residence and bearing a photograph or similar safeguard.
      
      
   2. For non-persons, a tax identification or EIN number will fulfill this requirement. For businesses, an EIN must be provided within five (5) weeks of opening the account.
      
      
   3. All applicants for membership will be required to provide a home address. P.O. Box numbers will not suffice, even if this is their permanent mailing address.
      
      
   4. Applicants who do not join in person (by phone, by mail, over the Internet, etc.) will be limited to five (5) transactions for an aggregate of less than $5,000 until they can provide positive identification.
      
      
   5. Applicants who cannot provide positive identification within five (5) weeks will have their accounts closed. A Suspicious Activity report will be filed if the member tries to do more than five (5) transactions or a total of transactions in excess of $5,000 before providing positive identification.
      
      
   2. Members with signature authority over business accounts are required to furnish substantially similar information, which will be copied and kept on record to corroborate that the members are who they say they are. They must provide a residential address in addition to the business address.
      
      
   3. If a private banking customer is from a jurisdiction where it is well known through publicly available sources that current or former political figures have been implicated in large-scale corruption, it may be appropriate to probe regarding employment history and sources of funds to a greater extent than for a customer from a jurisdiction with no such history. Such memberships must be approved by senior management.
      
      
   4. Members who do not have an identification record on file will be asked to provide such when they add signatories to an account or apply for a loan.
      
      
   5. In requiring this information, factors must be taken into consideration, including the need to guard the U.S. financial system against terrorist financing and money laundering, the legitimate privacy interests of customers and the need for these regulations to be effectively integrated into the daily operations of financial institutions.
      
      
      1. If the new account is opened for a member who is already a member or a signatory on another account of record, the requirement may be waived.
         
         
      2. If the member can be positively identified by other means to show that this is the person who s/he claims to be, the requirement may be waived.
         
         
      3. In such cases, a notation will be placed on their permanent record of how the identity of the person was ascertained.
         
7. If the Credit Union cannot establish positive identification, the account will not be opened.
   
   
8. The Credit Union will follow strictly the Bank Secrecy Act provisions in combating money-laundering activities.
   
   
9. CONE Credit Union will file yearly certification to enable information sharing.
   
   
10. The Credit Union will inform members of the new requirements by posting a sign in the lobby, posting the information on its website and describing the new requirements in its newsletter.
    
    
11. The Internal Auditor or other person(s) designated by the Board of Directors will audit for Patriot Act compliance yearly.
    

If after reading this notice you have questions, please contact us at:

(920) 722-6162

or write to:

Scott Sauer
CONE Credit Union
211 Walnut St.
Neenah,  WI 54956

Let us know if you have questions. Please do not hesitate to call us -- we are here to serve you!

Return to Top