Privacy Policy
Lenders Cooperative's Privacy Policy governs the practices and procedures we have put into place to safeguard personal information we may gather and use when you visit the LC family of Websites (collectively, the Site). We reserve the right to change our Privacy Policy and related disclosures from time to time. We will update any privacy information on this page when and if our Policy changes. Your continued use of the Site and or services available through this Site after such modifications will constitute your: (a) acknowledgement of the modified Policy; and (b) your agreement to abide and be bound by that Policy. You can access the full policy here.
Privacy Summary Disclosure Notice
How We Collect and Use Information
We do not collect any PII about you unless you voluntarily provide it to us; however, you may be required to provide certain PII to us when you elect to use certain products or services available on the Site. You can access the full summary here.
Contact Us
If you have any questions about this Policy or our privacy disclosure notice, please feel free to contact us atPrivacy@thesummitgrp.com
Cookies
Depending on how you use our Site, we may store cookies on your computer in order to collect certain aggregate data about our users and to customize your specific user experience. You can set your browser to refuse all cookies or to indicate when a cookie is being sent; however, certain aspects of the Site may not function properly if you elect to disable cookies.
Data Analytics
Like many companies, websites and applications, Lenders Cooperative uses Google services to improve our Site content and to support certain products or services. This integration shares certain collected information with Google. You can learn more about how Google uses this information and how you can control the information collected by Google via this collaboration here.
Do Not Track (DNT)
Certain laws require companies to provide notice visitors to websites on how it responds to user “do not track” (DNT) settings. LC currently does not respond to DNT signals in browsers, because no industry wide DNT standard has been adopted.
Release of Information
We will not sell, trade, or rent your PII to others. Occasionally law enforcement or judicial authorities may require us to provide PII. We fully cooperate with law enforcement agencies in identifying those who use our services for illegal activities.
User Choices
We may, from time to time, send you information regarding new products and services that we feel may interest you. This may occur through occasional calls, direct mail, or emails about our products and services. If you do not wish to receive solicitations from us, you can opt-out by emailing us at Privacy@thesummitgrp.com
Information Collected for Clients
Certain products and services we offer provide our clients with the ability to solicit, engage with, or service their own customers or potential customers. In providing these products or services, LC collects and has access to certain PII that our clients’ customers or potential customers provide to our clients in the normal course of business. We employ commercially reasonable methods to protect the security and integrity of this information.
Internal Controls
Independent Control Testing
We take the trust your organization places in us seriously. In addition to our own rigorous internal control management and continual improvement processes, LC also annually engages an independent third-party auditor to review all or portions of our internal control environment and supporting practices.
SOC2® Reports
- Many of LC’s clients rely on us to maintain certain controls known as “Trust Services Criteria” that protect various areas of our business. LC engages a certified public accounting firm to assess these criteria annually and to report on their results. This means that an independent third-party auditor reviews LC’s control environment every year and draws a conclusion as to the existence and effectiveness of these controls over a period of time. This conclusion, the control environment description, and the testing results are summarized in an annual SOC2® Type2 report.
- Our SOC® 2 Report assesses the design, effectiveness, and reliability of LC’s internal processes and control environment. The report indicates the organization has undergone a rigorous, in-depth audit of its internal control activities by an independent accounting and auditing firm. By undergoing an annual SOC®2 audit, STG obtains a comprehensive audit report disclosing the controls and processes in place that provides the independent auditor’s opinion regarding the operational effectiveness of the processes and procedures applied to the business activities that are subject to the described internal controls.
Availability of LC’s SOC2® Reports
To request a copy of LC’s current SOC2® Type 2 report you will need to complete a non-disclosure agreement. Once you have completed this online request, LC will provide access to the report. You can start this request here.
Independent Control Testing
LC invests a great deal of time and effort into our SOC audit process, as well as supporting processes that exist outside of the audit period (e.g., preparing bridge letters). We have prepared an FAQ that you can find here, which addresses frequent questions we receive about LC’s SOC® audits, the timing and length of the testing period, the assessment criteria, the annual reports, and accompanying bridge letters.