Privacy Protection Policy
Protecting your privacy is important to the West Virginia Economic Development Authority.
The West Virginia Economic Development Authority (WVEDA) is a public body corporately organized pursuant to West Virginia Code Section 31-15-1 et seq. with the authority to originate, acquire and service loans and leases as well as provide loan insurance for the purposes set forth in W Va. Code Section 31-18-7.
Important Notice About Customer Information
The WVEDA values the trust and confidence you have placed in us as your financial assistance service provider. We want you to understand what information we collect and how we use it. We believe every customer’s personal information should be handled with care and confidentiality. To ensure that we live up to your trust, we have defined the procedures we will use to protect customer information. We also want you to understand how we obtain and use information about our customers.
WVEDA Consumer Privacy Notice
Our Consumer Privacy Notice tells you the kind of information we collect, with whom we share it, and how it is protected. The Notice applies to consumers who obtain our financial products or services. The examples that you will find throughout this Notice are for purposes of illustration only and should not be considered a complete description of our information practices.
Categories of Information We May Collect
We collect the following information about you to evaluate a transaction that you initiate with us:
- Information we receive from you on applications (either obtained on line or provided in person), personal financial statements, tax returns, and other oral, written, or electronic communications, such as your name, address, Social Security number, assets, liabilities and income.
- Information about your transactions or relationships with us, such as information about your balances and payment history.
- Information we receive from consumer reporting agencies, such as your creditworthiness and credit history.
- Authorizations you provide to us for information, such as a Tax Clearance to assess your status with the State of WV.
- Authorizations you provide to us direct debit payments due to the WVEDA.
- Information we obtain from others to verify information provided by you, such as your employment history and credit or other relationships with third parties.
Disclosure of Information To Third Parties
We do not disclose information about our customers or former customers to third parties outside of the WVEDA, except as required or permitted by law. If you close your accounts or your relationship with the WVEDA becomes inactive, we will continue to treat the information we have collected about you in accordance with this notice. Since this is our policy, there is nothing you need to do to request us not to share customer information with such third parties.
Examples of when we disclose customer information outside of the WVEDA are as follows:
- To consumer reporting agencies.
- In connection with audits.
- For fraud, security or risk control.
- To help complete a transaction you initiate, including information requested to verify the existence or condition of an account.
- To resolve disputes or inquiries about your account.
- With your consent or at your direction.
- When disclosure is required by law, such as pursuant to court order, subpoena, legal process or government agency examination or investigation, or to protect or enforce our rights.
- To companies that perform services for us in connection with your accounts, such as collection agencies.
- As otherwise necessary to service your account, or as permitted or required by law.
Our Security Procedures
We maintain physical, electronic, and procedural safeguards that comply with federal guidelines to safeguard consumer information. Our employees are bound by laws, including W. Va. Code Section 31-15-22, and policies limiting access to consumer information only for legitimate business purposes and to keep information about you confidential.
Our Privacy Protections
You may have other privacy protections under some state laws. We will comply with applicable state and federal laws regarding your personal information maintained by us.
Our Commitment
We will continue to maintain our dedication to protecting your privacy. Should you have questions concerning our Notice, you may call 1-304-558-3650 between the hours of 8:30 A.M. – 4:30 P.M. (Eastern Standard Time) weekdays.
Effective Date
This Customer Notice is effective as of 2/4/2021.