Safe Deposit Issues: Drilling, Unpaid Rent, Death & Unclaimed Property
Safe deposit boxes are an important service provided by the credit union. They are a source of additional revenue and a way to enhance member relationships. However, safe deposit box operations are unique and sometimes mysterious. The improper handling of a safe deposit box can result in unforeseen liability of tremendous proportions. This webinar will cover everything, including the initial agreement, collecting rent, drilling, and escheatment of box contents to the state.
Recorded Tuesday, December 8, 2015
Continuing Education: Attendance verification for CE credits upon request
- Your credit union’s obligations and responsibilities for safe deposit boxes
- Proper procedures to grant access to a safe deposit box
- What to do when the rent is delinquent on a safe deposit box
- What to do when the sole owner or one joint owner dies
- Drilling procedures
- Proper escheatment of the box contents
- Avoiding common mistakes
- TAKE-AWAY TOOLKIT
- Safe deposit box policy checklist
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is designed for staff involved with safe deposit boxes including officers, member service representatives, operations personnel, compliance officers, attorneys, and managers.
Webinar content is subject to copyright and intended for your individual financial institution’s use only.