About This Course:
Your bank is asked to open a variety of accounts. These may include accounts for the rotary, sports leagues, hunting clubs, charitable fundraising accounts, and others for non profit and civic organizations. These are common situations many financial institutions face and you will want to know how to do it before you are asked.
Under the Bank Secrecy Act, these are called "nongovernment organizations" and are high-risk accounts. What should your standards be to open, change authority, and close these accounts? How can you protect your financial institution from fraud? This program will address how to set up the account, style the checks, pay the bills, and much more.
Topics Covered- Establishing the authority to open the account, change signers, and close the account
- Customer identification requirements for nonprofit accounts
- Titling, ownership, and access
- Taxpayer identification reporting issues - matching the IRS name file
- Changing signers and officers
- Common errors and liabilities
- Review of donation accounts, campaign accounts, formal nonprofit accounts, and small nonprofit organizations from setup to close
- Checks, debit cards, and other matters affecting nonprofit accounts
- Federal regulations, resolutions, and other documentation
This informative session will be beneficial for customer service representatives, branch managers, assistant branch managers, deposit operations, branch administration, and all deposit-related personnel.
The PresenterDeborah Crawford is the President of gettechnical inc., a Baton Rouge-based firm, specializing in the education of financial institutions across the nation. Her 27+ years of experience began at Hibernia National Bank in New Orleans. She graduated from Louisiana State University with both her bachelor's and master's degrees.
