Under the Gramm-Leach-Bliley Act (“GLBA”), businesses that engage in or assist with certain financial transactions for their customers must provide them with information regarding their privacy policies and practices. These businesses also must employ and maintain adequate safeguards to protect their former and current customers’ nonpublic personal information. Cherry Cove Land Development Company, Inc. (“Cherry Cove”) respects the privacy of its customers and seeks to protect the security and confidentiality of their nonpublic personal information. Nonpublic personal information includes any personally identifiable financial information that a financial institution collects about an individual in connection with providing a financial product or service, unless that information is otherwise lawfully made publicly available. Cherry Cove therefore takes this opportunity to satisfy its obligations under the GLBA, but more importantly, to provide further details to its customers about the GLBA, the type of information that it collects, and its disclosure practices.

Title V of the GLBA generally prohibits any financial institution, directly or through its affiliates, from sharing nonpublic personal information about its customers with a nonaffiliated third party unless that institution provides its customers with a notice of its privacy policies and practices. Financial institutions include certain businesses that lease real property, and arrange, effect or facilitate financial transactions for the account of third parties.
Depending on the types of services you use, we may collect nonpublic personal information about you from the following sources:

  • Information we receive from you on applications or other forms, such as your name, address, telephone number, driver’s license number, social security number, age, marital status, bank account and credit card numbers, unlisted addresses and phone numbers, assets and income;
  • Information about your transactions with us, our affiliates or others, such as loan applications, employment history, payoff amounts, sales contracts, tax forms and returns, and HUD-1’s;
  • Information we receive from a consumer reporting agency, such as your credit report;
  • Information we receive from others involved in your transaction, such as the real estate agent or lender; and
  • Information we receive from a cookie obtained in using our website.

We do not disclose any nonpublic personal information about our customers or former customers to anyone, except as permitted by law.
We restrict access to nonpublic personal information about you, within our company, to those employees who need to know that information in order to provide products or services to you. We maintain administrative, physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information. We reinforce our privacy policy with our employees. We are committed to protecting your nonpublic personal information.

Feel free to contact us if you have questions.