Privacy Policy

Facts

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What does the Sherwood State Bank do with your personal information?

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Why?

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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.

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What?

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The types of personal information we collect and share depends on the product or service you have with us. This information can include:

  • Social Security number and income
  • Account balances and payment history
  • Credit history and credit scores

When you are no longer our customer, we continue to share your as described in this notice.

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How?

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All financial companies need to share customers' personal information to run their everyday business. In the below, we list the reasons financial companies can share their customers' personal information; the reasons The Sherwood State Bank chooses to share, and whether you can limit this sharing.

Reasons we can share your personal information
Does The Sherwood State 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
Yes
No
For our affiliates’ everyday business purposes—information about your creditworthiness
Yes
We do not share
For our affiliates to market to you
Yes
Yes
For non-affiliates to market to you
No
We do not share

To limit our sharing

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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.

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Questions?

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Call 800-899-9531

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What we do
How does The Sherwood State 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.  We restrict access to your personal and account information to those employees who need to know that information to provide products or services to you.  Employees who violate these standards will be subject to disciplinary measures.
How does The Sherwood State Bank collect my personal information?
We collect your personal information, for example, when you:
  • open an account or deposit money
  • pay your bills or apply for a loan
  • make deposits or withdrawals from your account
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.
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 non-affiliates 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?
An opt-out request by any party on a joint account will apply to all parties on the joint account.
Definitions
Affiliates
Companies related by common ownership or control. They can be financial and nonfinancial companies.
  • The Sherwood State Bank may share information with its affiliates Sherwood Banc Corporation, an Ohio Bank Holding Company and Sherwood Financial Services, LLC, an Ohio Insurance Company.
Non-affiliates
Companies not related by common ownership or control. They can be financial and nonfinancial companies.
  • The Sherwood State Bank does not share with non-affiliates so they can market to you.
Joint marketing
A formal agreement between non-affiliated financial companies that together market financial products or services to you.
  • Our joint marketing partners include insurance companies.

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