Tuesday, April 22, 2014
9:00 am – 10:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
To whom is that check payable? Knowing who has the power to negotiate checks and other instruments is critical to ensuring the credit union is protected from losses. From estates, trusts, and other fiduciary relationships, to ambiguous payees, this webinar will examine the ins and outs of identifying the proper payees on checks and the proper way certain items must be endorsed. Allowing someone to convert an item to their personal use can harm the credit union, so learn the precautions to take when handling negotiable instruments.
Continuing Education: Attendance verification for CE credits upon request
- Can a trustee deposit a check payable to the trust to his or her personal account?
- How should you handle checks made payable to Mary and/or Jane?
- If there is no estate account, can you allow the estate’s executor to deposit a check that is payable to the estate?
- On which items should you require an actual endorsement by the payee?
- Is the credit union required to take an item for deposit?
- TAKE-AWAY TOOLKIT
- List of proper endorsements
- Checklist of authority to negotiate checks
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session will benefit frontline staff, tellers, teller supervisors, compliance officers, and anyone who handles checks being cashed or deposited.
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MEET THE PRESENTER
Compliance Plus, Inc.