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Thursday,
February 2, 2012
12:00 pm - 1:30 pm Pacific
1:00 pm - 2:30 pm Mountain
2:00 pm - 3:30 pm Central
3:00 pm - 4:30 pm Eastern
Meet the Presenter
Deborah L. Crawford, gettechnical inc
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Minor members are the future of the credit union. However, it is sometimes difficult to know what can and can’t be done for underage members. It is unsettling when minors have authority to transact business because, in many states, minors are not held responsible for their actions on deposit contracts. Join us to learn how to answer your adult members’ questions on opening accounts for kids, grandchildren, college, and other minor accounts. This program will review the basic legal ownerships you can offer for minor members and how to transition them into adult accounts and memberships. The dos and don’ts of account cards for minors will also be covered.
You will be challenged to look at old practices, understand how to handle checks, learn when to give access, and more from this information-packed program. You won’t want to miss this A to Z training on minor accounts.
HIGHLIGHTS
- All types of legal ownership for minors: UTMA, CESA, multiple-party accounts, minors alone in some states
- Can a minor be a member of a credit union?
- What happens and what is the risk when minors are on checking accounts with debit cards? What about debit cards on UTMA, Social Security, and guardianships accounts?
- Can a minor get information on UTMA, Social Security, or guardianship accounts?
- What if a minor wants to negotiate a check made payable to him/herself?
- Old stylings like “minor by” that can cause big headaches
- Can credit unions require two signatures on minor accounts? Can minors sign a contract?
- What if the minor on an account dies? What happens when the adult passes away?
- Can minors take over the account at a certain age?
- Hotspots and pitfalls when opening minor accounts
WHO SHOULD ATTEND?
This informative session will be beneficial for tellers, member service representatives, call center staff, branch managers, branch operations, and trainers.
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