PRIVACY POLICY

Source One Privacy Policy (updated April 2021)

Privacy Policy

Protecting the personal information in our control is a responsibility Source One Financial Corp. (“Source One”) takes very seriously.

This Privacy Policy describes how Source One collects, uses, discloses and retains personal information in connection with its commercial activities in Canada. 

If you are unsure if or how this Privacy Policy applies to you, please contact our Privacy Officer for more information.

What is Personal Identifiable Information?

Data or information on a person that:

  1. is about the individual in a personal capacity; that is, it reveals something of a personal nature about the individual, and 
  2. it is reasonable to expect that an individual can be identified from the information (either alone or by combining it with other information) The listed examples include a person’s name when combined with other information about them, such as their address, sex, age, education, or medical history. These examples are not exhaustive and many other kinds of information may still qualify as personal information.  (Source: Information and Privacy Commission of Ontario)

Personal information we collect

We collect and maintain different types of personal information in respect of individuals with whom we interact for the purposes of financing of a vehicle and may include:

  1. Your contact information:  name, address, telephone number and e-mail address; 
  2. Your identification information: driver’s license number, Social Insurance Number and photograph; 
  3. Your product and service related information concerning the products and services that we provide to, or receive from, you;
  4. Your credit and financial information such as your banking information, payment methods and preferences, and billing and credit history;
  5. Your employment and business relationship information;
  6. Customer relationship information such as customer service requests and feed-back and information requested or provided by or from you; and
  7. Other information as may be required to make a suitable credit decision.

Source One may also require the same information from any spouse, partner, or co-signer. We may collect personal information directly from you, or from third parties such as credit bureaus or credit reporting agencies or your vehicle dealer, employer, bank, references, landlord or mortgage holder. We may also collect insurance information from your insurer in order to verify compliance with insurance requirements under a Conditional Sales Contract or Loan Agreement (“Contract”). If you are in default under your Contract, we may also track the location of your vehicle in accordance with the terms of that Contract. 

The level of disclosure to Source One remains with the individual, however, your decision to withhold particular details may limit our ability to provide some or all credit services to you. If we are unable to accommodate your request based on the information that has been provided to us, we may ask for additional details. 

In some instances, Source One may also maintain a file containing contact history that is used for customer inquiry purposes. To help us better understand our markets, we may also gather information for analytical purposes by extracting demographic information from existing files.

Where permitted or required by applicable law or regulatory requirements, we may collect information about you without your knowledge or consent and we may use the information for analytical and/or marketing purposes.  

Why do we collect your personal information?

We collect your personal information so that we can communicate with you, process your application, and provide you with the services you have requested. 

Source One may also collect personal information to enable us to manage and develop our business and operations, including: 

  1. to determine, on an ongoing basis, whether or not you meet our credit and other loan requirements;
  2. to establish, maintain and manage our relationship with you, including to collect amounts owing;
  3. to provide you with, or receive from you, the products and services that have been requested or that may be of interest to you;
  4. to be able to comply with your requests regarding your account with us;
  5. to protect you and us against error, fraud, theft and damage to our goods and property;
  6. in the event of default under a Contract, to enable us to collect on any amounts owing and take such further enforcement steps as are outlined in the Contract;
  7. to enable us to comply with applicable law or regulatory requirements; and
  8. any other reasonable purpose to which you consent. 

We may also use your personal information without your knowledge or consent where we are permitted or required by applicable law or regulatory requirements to do so.

Use of your personal information

We may share personal information with our lenders, regulatory bodies  in order to meet legal, regulatory and compliance requirements, including relating to the detection and prevention of money laundering, terrorist financing, fraud and other unlawful activities. 

We share your personal information with our employees, contractors, consultants and other parties (including affiliates) who require such information to assist us with establishing, maintaining and managing our relationship with you, including third parties that provide services to us or on our behalf; third parties that collaborate with Source One in the provision of services to you; and, third parties whose services we use to perform our services. These services may include call center, billing, payment processing, information technology and/or data hosting or processing services. Some of these third parties may be located outside of Canada, including in the United States, your personal information may be transferred, stored and processed outside of Canada for the purposes described in this Privacy Policy. While outside of Canada, personal information will be subject to applicable foreign laws, which may permit government, national security or regulatory authorities to access personal information in certain circumstances.

We may disclose your personal information on an ongoing basis to credit bureaus and credit reporting agencies for the purposes of maintaining your credit history. These organizations may also verify and ensure the completeness of the information, and share the information with local, provincial and national authorities in the investigation of unlawful or improper activities in order to protect you and us from fraudulent transactions.

We may share your personal information, including contact information and information about your payment history, with your automotive dealer so that the dealer may market new products or services to you. 

In addition, personal information may be disclosed or transferred to another party in the event of a change in ownership of or the grant of security in all or a part of Source One through, for example, an asset sale, or some other form of business restructuring divestiture, reorganization, combination, merger or joint venture, provided that such party is bound by appropriate agreements or obligations and required to use or disclose your personal information in a manner consistent with the use and disclosure provisions of this Privacy Policy.

Further, your personal information may be disclosed:

  1. as permitted or required by applicable law or to comply with regulatory requirements. In such a case, we will endeavor to not disclose more personal information than is required under the circumstances;
  2. to comply with valid legal processes such as search warrants, subpoenas or court orders;
  3. to protect the rights and property of Source One, including to collect a debt that is owed to us; and
  4. in the event of default under Source One Contract, to the appropriate government registries for the purpose of obtaining updated demographic information.

Typically, we will seek your consent at the time that we collect the personal information. In certain circumstances, your consent may be obtained after collection but prior to our use or disclosure of your personal information. In other circumstances your consent may be implied through reasonable inferences on the part of Source One from your actions or inactions. For example, providing a name and address to receive information or providing a name and telephone number to receive a response to a question. When determining the appropriate form of consent, we take into account the sensitivity of the personal information, the reasons we are collecting it, and the reasonable expectations of the person.

We assume that, unless you advise us otherwise, by receiving a copy of this Privacy Policy or by continuing to deal with us, you have consented to the collection, use, disclosure and retention of your personal information as explained in this Privacy Policy.

You may change or withdraw your consent at any time, subject to legal or contractual obligations and reasonable notice, by contacting our Privacy Officer using the contact information set out below.  In some circumstances, a change in or withdrawal of consent may severely limit our ability to provide products or services to you.  All communications with respect to such withdrawal or variation of consent should be in writing and addressed to our Privacy Officer.

Safeguarding your personal information

Source One endeavours to maintain appropriate safeguards surrounding your personal information and includes physical, technical and procedural processes that are appropriate to the sensitivity of your personal information and are designed to prevent loss, unauthorized access, copying, use, modification or disclosure of your personal information.  

We endeavour to limit the use, disclosure and retention of personal information to what is reasonable to fulfil the purposes for which the information was collected or for legal or business purposes. 

Online security

When you visit the Source One website, we only collect information provided by you through forms and information requests explicitly performed by you voluntarily.  You may browse the Source One website without revealing any personal information.  We may collect information on page visits, length of visit information through use of cookies or other process.  

Our security practices are monitored and reviewed on a regular basis and we endeavour to employ current technologies to protect the confidentiality and privacy of your information.

The Source One website will endeavour to use industry best practices for security and encryption when you visit the secured areas of these sites. 

When you send personal identifiable information through email or text either directly or through our website, email and text are not considered a secure means of communication and the sender assumes all liability of exposure of any personal information transmitted by these means should the transmission be intercepted, misdirected or otherwise during transmission.  

For greater certainty the website governed by this Privacy Policy is:  sourceonefinancial.ca and all associated pages.

The Source One website may contain links to other third-party sites that are not governed by this privacy policy. Although we endeavour to only link to sites with high privacy standards, our Privacy Policy will no longer apply once you leave the Source One website including secure payment of banking websites.  Additionally, we are not responsible for the privacy practices employed by other third-party websites. 

Accessing and amending your information

The file containing your personal information may be maintained on our servers or those of our service provider. At Source One, decisions are made based on the information we have. Therefore, it is important that your personal information is as accurate, up to date, and complete as possible. To make a change to the personal contact information contained in your file, you may call our Customer Service department at 1-877-564-8582, where one of our Customer Service agents will be available to receive your request for a change in your personal contact information.  

You can ask to see the personal information that we hold about you, or to make any corrections in that information. If you want to review, verify or correct your personal information, please contact our Privacy Officer using the contact information set out below. Please note that such communication must be in writing.

When requesting an amendment in, or access to, your personal information, please note that we may request specific information from you to enable us to confirm your identity and right to amend or access, as well as to search for and provide you with the personal information that we hold about you. We may charge you a reasonable fee to access your personal information; however, we will advise you of any fee in advance. If you require assistance in preparing your request, please contact the office of our Privacy Officer.

Your right to access the personal information that we hold about you is not absolute. There are instances where applicable law or regulatory requirements allow or require us to refuse to provide some or all of the personal information that we hold about you. In addition, the personal information may have been destroyed, erased or made anonymous in accordance with our record retention obligations and practices.

In the event that we cannot provide you with access to your personal information, we will endeavour to inform you of the reasons why, subject to any legal or regulatory restrictions.

Questions, concerns and complaints

If you have questions or concerns regarding our privacy policies and practices, please call us at 1-877-564-8582

If you have a concern or complaint about privacy, confidentiality or the personal information handling practices of Source One, our employees or service suppliers, please contact:

Source One Privacy Officer

11 Victoria Street Unit B3 
Barrie, Ontario L4N3A3 
Phone: 1-877-564-8582 
Fax: 1-888-624-0009

Email: info@sourceonefinancial.ca

Updating this Privacy Policy

This Privacy Policy may be updated or revised from time to time. We will make reasonable efforts to notify you of any changes to this Privacy Policy, such as by posting the updated Privacy Policy on our website at http://www.sourceonefinancial.ca. You may determine when this policy was last updated by referring to the modification date found at the top of this Privacy Policy.