It could happen today — one of your members dies while still owing on a loan or other obligation to your credit union. In this situation, your credit union needs to act swiftly to increase your chances of collection on the loan and to avoid liability. What should you do? This webinar will thoroughly explain the proper procedures and processes to follow when a loan member dies.
- Does the member’s death constitute a loan default?
- What if the loan payments continue to be made by the deceased’s relative?
- Is the deceased’s estate or surviving spouse liable for the loan?
- Can you setoff the deceased’s deposit accounts for debts owed to the credit union?
- How should the credit union deal with the deceased’s estate?
- What if a probate estate is never opened regarding the deceased?
- TAKE-AWAY TOOLKIT
- Sample procedures for handling and collecting loans of deceased members
- 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 all loan officers, loan operations personnel, collection staff, member service representatives, compliance personnel, auditors, attorneys, and managers.
ABOUT THE PRESENTER – Elizabeth Fast, JD, CPA, Spencer Fane Britt & Browne LLP
Elizabeth Fast is a partner with Spencer Fane Britt & Browne LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.
Lending Council Members receive 10% discount.
|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.
Upon registration, you will receive an email confirmation that you can print for your records.