Account Cards: 10 Common Mistakes

What would happen if you were called upon to give a deposition in court on a signature card for an account you opened thirteen years ago at an institution for which you no longer worked? What would you say when an attorney asked you to remember the member’s intentions when you opened that account? This actually happened. In this informative program, you will learn that your account cards are a legacy that you leave the credit union for many years to come. How a signature is set up can impact your member’s insurance coverage. It is critical that employees clearly understand ownership, titling and access under your account card contract. If you do not, then the credit union will have potential liability. This is a “must attend” webinar in order to learn more about risks, liability and losses that can occur due to account card contract. And, most importantly, how to avoid these issues!

This webinar is a cost effective way to train those who open new memberships on the potential liability of account cards that are improperly set up. You may train as many individuals as you like for one set price.

Covered Topics:

  • Understand the components of an account card
  • Who should get what federal disclosures
  • W-9 and W-8BENs
  • How ownership is defined
  • Membership issues
  • Why every piece of the account card is important
  • A review of how to set up different ownership types
  • Right of offset, dormant accounts, site examination of statements
  • Membership, ownership and access

Who Should Attend?

This webinar will benefit new account representatives, membership service representatives, training staff, personal bankers, branch managers, branch operations, compliance officers and all deposit personnel.