California’s New Consumer Privacy Act: Know Your Rights

The majority of Americans are growing more concerned about how companies and the government collect and use their personal information, according to a recent survey by Pew Research Center. Eight in 10 consumers believe that the potential risks of data collection overshadow any potential benefits.

This sentiment is not surprising, given the data breaches that have occurred over the last few years. To increase individuals’ privacy rights, legislators passed the California Consumer Privacy Act bill (CCPA) in 2018. The law became effective Jan. 1, although enforcement begins July 1, 2020. This will give companies adequate time to comply with CCPA requirements. It’s likely that other states will follow California’s lead with their own privacy laws in the near future.The law is good news for consumers, because it allows them to have more control over their personal information and guard against identity theft. It also requires businesses to become more transparent and disclose what information they collect and why, including not being able to sell such information without consumers’ consent.

How the Law Works

CCPA gives California residents the right to:

  • Understand what personal information is collected.
  • Obtain access to the collected information.
  • Know if their personal information is for sale, and object to its sale.
  • Request a business delete personal information about them. There are many exceptions to this, based on whether or not a business needs certain information to conduct business with a consumer.
  • Expect nondiscrimination for exercising their privacy rights.

How Your Credit Union Protects You

Like many other financial institutions, we adhere to the Gramm-Leach-Bliley Act and the California Financial Information Act. In most cases, the personal information we collect remains exempt from the CCPA because we already have strict privacy guidelines in place to protect your information when using it to provide you with a financial product or service.

In order for us to maintain our financial relationship with you and service your accounts, we can’t delete most of your personal information. Information that may be deleted is still under evaluation. We retain some information for a short time period, other information we must maintain throughout your Membership. There are very few instances when it would be applicable to delete information, and we won’t have a deletion process in place until July 1. To learn more about how we protect your information, read our privacy policy.

How Companies Must Comply

If a company does business in California, they must disclose how they plan to use personal information. This includes providing a detailed privacy policy on their website, giving consumers the ability to make requests and respond to these requests, including providing an opt-out link if they sell private information. They must also implement and maintain security practices to protect your data.

We Will Never Sell Your Information

We have always understood the importance of protecting your personal information, which we would never sell to other companies. We only share information with unaffiliated companies required under our banking relationship for legitimate business purposes, such as ordering checks.

We Keep Security Top of Mind

To protect your personal information, we use security measures that comply with federal and state law, including computer safeguards and secured files and buildings. Every teammember understands and complies with these security measures.


When you click on external links, you are linking to alternate websites not operated by SchoolsFirst FCU, and SchoolsFirst FCU is not responsible for the content of the alternate websites. The fact that there is a link from SchoolsFirst FCU’s website to an alternate website does not constitute endorsement of any product, service, or organization. SchoolsFirst FCU does not represent either you or the website operator if you enter into a transaction. Privacy and security policies may differ from those practiced by SchoolsFirst FCU, and you should review the alternate website’s policies.

Extra Credit provides general information to help improve our Member’s financial lives. Every situation is different, so please contact us for guidance on your specific needs. The advice provided in Extra Credit is not intended to serve as a substitute for speaking to a loan representative, financial advisor, or GreenPath Financial Wellness counselor who can help tailor a solution for you.

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