Privacy Policy

FACTS	WHAT DOES CENTURY 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 Credit scores Payment history Overdraft history Credit history Wire transfer instructions
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 Century Bank chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information	Does Century 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	Yes	No
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	Yes	Yes

To limit our sharing	Call Toll- free 866-823-6887 or select Opt Out below. Please note: If you are a new customer, we can begin sharing your information 30 days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing.
Questions?	Call 866-823-6887 or chat live

What We Do
How does Century 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 Century Bank collect my personal information?	We collect your personal information, for example, when you Apply for a loan Give us your contact information Seek financial or tax advice Make a wire transfer Seek advice about your investments
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.
What happens when I limit sharing for an account I hold jointly with someone else?	Your choices will apply to everyone on your account.

Definitions
Affiliates	Companies related by common ownership or control. They can be financial and non-financial companies. Century Bank does not share your personal information with our affiliates
Nonaffiliates	Companies not related by common ownership or control. They can be financial and non-financial companies. Nonaffiliates we share with can include credit card companies and direct marketing companies.
Joint Marketing	A formal agreement between nonaffiliated financial companies that together market financial products or services to you. Our joint marketing partners include credit card companies and direct marketing companies.

Definitions

Affiliates

Companies related by common ownership or control. They can be financial and non-financial companies.

Century Bank does not share your personal information with our affiliates

Nonaffiliates

Companies not related by common ownership or control. They can be financial and non-financial companies.

Nonaffiliates we share with can include credit card companies and direct marketing companies.

Joint Marketing

A formal agreement between nonaffiliated financial companies that together market financial products or services to you.

Our joint marketing partners include credit card companies and direct marketing companies.

Other Important Information
For Massachusetts Customers. We will not share personal information from deposit or share relationships with nonaffiliates either for them to market to you or for joint marketing - without your authorization.

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Q:	What is pre-approval?
A:	A pre-approval from your bank outlines the loan amount you may be able to borrow and helps your real estate agent focus your search on properties you will likely qualify to purchase. Century Bank provides this service at no cost to you.
Q:	How long is the mortgage application process?
A:	Once your application is received, it typically takes 30 to 45 business days to close on the loan.
Q:	What are the advantages of a Fixed Rate Mortgage?
A:	With a fixed rate mortgage your monthly principal and interest payment will never increase during the life of the loan.
Q:	What are the advantages of an Adjustable Rate Mortgage (ARM)?
A:	An ARM may come with a lower monthly payment amount than a fixed rate mortgage, which means you may qualify for a larger mortgage.
Q:	Why would I want a Fixed Rate Mortgage vs. ARM?
A:	The type of mortgage you choose depends on your needs when you are buying a home. A Century Bank Borrowing Specialist will help you understand the best mortgage for your situation.
Q:	What is a down payment?
A:	The down payment on the purchase of a home is the amount of cash you pay up front with the bank financing the remainder of the purchase price. Your Century Bank Borrowing Specialist will discuss all loan and down payment options available to you.
Q:	What is Private Mortgage Insurance (PMI)?
A:	PMI is required when your down payment is less than 20% of the purchase price of a home. Your Century Bank Borrowing Specialist will tell you if this insurance applies to your situation and, if so, will estimate the cost for you.
Q:	What is an appraisal?
A:	An appraisal is a report on a property’s estimated value made by a certified appraiser. When you apply for a Century Bank mortgage loan, we will initiate the appraisal process for you.
Q:	What is escrow?
A:	Escrow is an account the bank holds in your name for amounts collected monthly along with your mortgage payments to cover taxes and/or insurance. When these obligations are due, the bank makes the payments for you.
Q:	What is a point?
A:	A point is a percentage of a mortgage amount, paid by the borrower to obtain the mortgage. Most of Century Bank’s loans do not come with points.
Q:	What are closing costs?
A:	Closing costs are the fees and expenses associated with a mortgage transaction. The fees may include appraisal, credit report, attorney services, title insurance, and points, if applicable. Your Century Bank lending expert will provide you with an estimate of these costs when you submit your loan application.
Q:	What is a home inspection?
A:	A home inspection is optional but always a good idea. As the buyer of a property, you hire a professional home inspector to examine it and identify potential problems with the infrastructure that you should be aware of before you agree to complete the purchase.
Q:	What is a jumbo loan?
A:	A jumbo loan is a mortgage that exceeds the maximum loan amount established by Fannie Mae (the Federal Home Loan Mortgage Corporation). Jumbo loans are also referred to as non-conforming loans.
Q:	Does Century Bank offer special programs for first-time home buyers?
A:	Yes, let your Century Bank Borrowing Specialist know that you’re buying your first home because you may qualify for special programs that could include more flexible lending criteria.

Privacy Policy

WHAT DOES CENTURY BANK DO WITH YOUR PERSONAL INFORMATION?

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