> Webinar: Trust Compliance in Opening Accounts & Lending

Thursday, March 27, 2014
3:00 PM Eastern Daylight Time
4:30 PM

Credit Union Web Training Webinar:
Trust Compliance in Opening Accounts & Lending


Opening a deposit account or lending to a trust is substantially different from opening an account or lending to an individual. Although many members inappropriately treat trust property as their own individual property, your credit union must treat the trust as a legal entity separate from the individual. Further, trust agreements are lengthy, complicated legal documents which can expose your credit union to significant liability if not handled properly.

This webinar will explain everything you need to know about opening accounts for trusts, including proper account documentation and authorization requirements. You will also learn about lending to trusts, including appropriate loan documentation and proper perfection of security interests in trust property. Join us to understand the steps your credit union can take to reduce loss when dealing with trusts.

Continuing Education: Attendance verification for CE credits upon request


  • What are the legal requirements for a valid trust?
  • Who can sign for the trust?  Are all trustees required to sign the account and/or loan documents?
  • Should your credit union rely on a Certification of Trust or must you review the entire trust agreement?
  • Are trusts subject to the Truth-in-Lending Act and other consumer protection regulations?
  • How can you collect against a trust that has defaulted on a loan or overdrawn an account?
  • What steps can be taken to reduce the risk of loss with trusts?


  • Checklist of items to request when opening a deposit account for a trust
  • Checklist of items to request when making a loan to a trust
  • Employee training log
  • Quiz you can administer to measure staff learning and a separate answer key

This informative session will be useful to both deposit and loan operations, including new accounts personnel, loan documentation staff, member service representatives, tellers, officers, attorneys, compliance personnel, and managers.

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

Elizabeth Fast, Spencer Fane Britt & Browne LLP

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