IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING OR CHANGING AN ACCOUNT WITH CENTENNIAL BANK

Section 326 of the USA PATRIOT ACT requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account or changes an existing account. This federal requirement applies to all new customers and current customers. This information is used to assist the United States government in the fight against the funding of terrorism and money-laundering activities.

What this means to you: when you open an account or change an existing account, we will ask each person for their name, physical address, mailing address, date of birth, and other information that will allow us to identify them. We will also ask to see each person’s driver’s license and/or other identifying documents.  In addition, for legal entity accounts we will require identification on beneficial owners and the controlling person.

 

IMPORTANT INFORMATION ABOUT OPENING A LEGAL ENTITY ACCOUNT WITH CENTENNIAL BANK

Section 326 of the USA PATRIOT ACT requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account for a covered Legal Entity.  New Rules under the Bank Secrecy Act will aid the government in the fight to combat terrorism and other national security threats.

Each time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number and identification documents) for:

  • Each individual that has beneficial ownership (25% or more) in Legal Entity; and
  • One individual that has significant managerial responsibility for the Legal Entity.

We proudly support all efforts to protect and maintain the security of our customers and our country.