Privacy & Web Site Policy and Procedures

The directors, management, and staff of Maspeth Federal Savings are concerned about and respect the privacy of customers'/consumers' personal financial information. We understand that our customers furnish sensitive information to the bank in the course of daily business, and the bank is committed to treating such information responsibly. We know that our customers expect privacy and security for their personal and financial affairs.

The bank will take all the necessary steps to safeguard sensitive information that has been entrusted to us by our customers. The following privacy policy and disclosure outlines our bank's practice regarding personally identifiable financial information for consumers and those consumers who become our customers.

TYPES OF INFORMATION THE BANK COLLECTS

At Maspeth Federal we collect nonpublic, personal information about you from many sources, including the following:

• Information we receive from you on applications or other forms
• Information about your transactions with us, our affiliates, or others
• Information we receive from a consumer reporting agency

Nonpublic, personal information does not include that which is available from government records, widely distributed media, or government-mandated disclosures.

TYPES OF INFORMATION THE BANK DISCLOSES

The bank does not now, nor does it intend in the future, to disclose any personal financial information to any nonaffiliated or affiliated third party. By law the bank may disclose certain personally identifiable information without allowing consumers the right to opt out of the bank's sharing agreements in the following circumstances:

• To companies who perform transaction processing for the bank in the following circumstances:
  • If the transaction, service, or product is requested or authorized by the consumer
  • To maintain or service a consumer's account as part of a private label credit card or other loan extension program
  • In connection with a securitization, secondary market sale (including servicing rights), or similar transaction related to a consumer
• To disclose information necessary to enforce the bank's legal or contractual rights or the rights of any other person who is engaged in the financial transaction
• To disclose information required in the ordinary course of banking business, such as the settlement of claims or benefits, the confirmation of information to the consumer or the consumer's agent, and the billing, processing, or clearing of items in the normal course of business
• To provide information to insurance rate advisory organizations, guaranty funds or agencies, agencies that are rating the bank, persons who are assessing the bank's compliance with industry standards, and the bank's attorneys, accountants, and auditors
• To the extent permissible under the Right to Financial Privacy Act
• To a consumer reporting agency under the Fair Credit Reporting Act
• To comply with federal, state, or local laws, rules, and other applicable legal requirements

SAFEGUARDING CUSTOMER INFORMATION

The bank will implement procedures that limit employee access to personally identifiable information to those employees with a business reason to know such information about our customers. All department managers will inform employees about the importance of confidentiality and customer privacy through department standard operating procedures, special training programs, and our ethics policy. Bank management is directed to take appropriate disciplinary measures to enforce employee privacy responsibilities.

Bank management is directed to maintain security standards and procedures to help prevent unauthorized access to confidential information about customers. The bank will update and test the technology on an ongoing basis to ensure the protection and integrity of customer information.

If we change our policy or practice by, for example, adding a category of information that we will disclose to a third party, we will notify existing customers and give them an appropriate time period to opt out of the disclosure.