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Wednesday,
October 26, 2011
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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Opening personal accounts involves identification, documentation, and legal requirements. Your account card and account agreement establish the relationship and the liability between you and your member. If account ownership is set up incorrectly, it can affect your member’s insurance, rights at death, and your credit union’s liability.
For example, a member wants to open an individual account, but is concerned who will inherit the money and who can remove money while she is living. What if a member wants to remove his brother from his account? Can he? How is it done?
Although credit unions do not give tax and legal advice, they do offer options and solutions that members can contemplate when deciding how to structure accounts in order to receive the desired benefits. These topics and many more will be addressed in this important program.
HIGHLIGHTS
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What are the different types of personal accounts?
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What documents are required to open each type of account and what is your credit union’s liability if the accounts are opened incorrectly?
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What happens on each type of personal account when someone dies?
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How is each type of personal account insured?
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How are account cards for personal accounts completed?
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Can owners be removed from accounts? What about agents or convenience signers?
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How can the account card be structured to cover all the suffixes for members?
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What if a suffix is not covered by a signature card?
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What happens if a loan is attached to a POD account?
WHO SHOULD ATTEND?
This informative session will be useful for new membership representatives, branch managers, trainers, tellers, and call center employees.
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