> Webinar: Handling Dormant Accounts & Unclaimed Property

Thursday, January 09, 2014
3:00 PM (GMT-05:00) Eastern Time (US & Canada)
4:30 PM

 

Credit Union Web Training Webinar:
Handling Dormant Accounts & Unclaimed Property

Dormant accounts and unclaimed property pose unique, and often complicated, problems for credit unions. Credit unions’ procedures and practices regarding dormant accounts and unclaimed property in safe deposit boxes have come under attack by both consumers and state agencies that are entitled to the escheatment of this unclaimed (abandoned) property.

This webinar will explain the Uniform Unclaimed Property Act and the tools every credit union needs to evaluate its dormant accounts and unclaimed (abandoned) property practices. In addition, you will receive contact information for the unclaimed property administrators in every state. Since escheat laws vary, this webinar will not cover state-specific escheat laws. However, you will be able to find your state-specific escheat laws by using the contact information in the handout.

Continuing Education: Attendance verification for CE credits upon request

HIGHLIGHTS

  • When is an account considered dormant?
  • What fees can be imposed on dormant accounts?
  • What are the credit union’s responsibilities under the Uniform Unclaimed Property Act?
  • How should safe deposit boxes be handled?
  • Does your credit union’s deposit agreement or safe deposit agreement impose additional responsibilities?
  • What if your credit union has branches in more than one state?

TAKE-AWAY TOOLKIT

  • Contact information for the unclaimed property administrators in every state
  • 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 dormant accounts and unclaimed/abandoned property, including deposit operations personnel, safe deposit box staff, member service representatives, compliance officers, auditors, and managers.

PLEASE NOTE
Webinar content is subject to copyright and intended for your individual credit union’s use only.

MEET THE PRESENTER
Elizabeth Fast, JD, CPA, Spencer Fane Britt & Browne LLP

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