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.
- 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
Attendance verification for CE credits provided upon request.
Who Should Attend?
This informative session will benefit frontline staff, tellers, teller supervisors, compliance officers, and anyone who handles checks being cashed or deposited.
ABOUT THE PRESENTER – Mary-Lou Heighes, CUCE, Compliance Plus, Inc.
Mary-Lou Heighes is President and founder of Compliance Plus, Inc. Involved in the financial services industry since 1989, she has worked in numerous positions, including loan officer, marketer, and collector. She also worked at a state trade association for seven years providing compliance assistance and advising on state and federal legislative issues that affect financial institutions.
Compliance Plus, Inc. was founded in 2000 to provide compliance assistance to financial industry. Since then, Mary-Lou has helped financial institutions with developing compliance programs, provided compliance training nationwide, and spoken at numerous conferences throughout the country. She has been an instructor at regulatory compliance schools, conducts dozens of webinars and conferences throughout the country, and has written articles for Credit Union Magazine.
|Over $75 million
|$25 - $75 million
|Under $25 million
Scholarships are available for all KCUA education events. Scholarships pay 100% of registration fee for credit unions under $25M, 50% for credit unions between $25-$75M and 25% for credit unions over $75M.