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Opening Minor Accounts: Ownership, Access & Multi-Party

Date: March 28, 2013
Time: 2:00 PM- 3:30 PM CST
About:
Misconceptions about minor accounts may cause confusion and unequal treatment – even from branch to branch.  Although account ownership is dictated by state law, some common areas should be understood by all credit unions that offer accounts to minors.  

Can UTMA funds be paid directly to the minor at age 21?  How old must a minor be to open an account?  When can a minor have a debit card?  From membership, to CIP, to disbursement on minor accounts, credit union staff must be aware of common problems – and solutions.

      Highlights
     > How can minors qualify for membership?
     > CIP:  Member identification for minors
     > Types of minor accounts – individual, joint, in trust for, etc.
     > Setting up and handling special accounts for minors, such as UTMA and Coverdell ESAs
     > Minors and representative payee accounts
     > Who can transact on minor accounts?
     > Share insurance requirements when minors are owners, co-owners, or beneficiaries
     > What happens when a minor dies?
     > Dealing with minors as account beneficiaries

Note: Attendance verification for CE credits provided upon request.

Registration Options:
Live Webinar- $200
The LIVE WEBINAR option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered.  You may have as many people as you like listen from your office speaker phone.  Registrants receive a toll-free number and pass code that will allow entrance to the seminar. The session will be approximately 90 minutes, including question and answer sessions.  Seminar materials, including instructions, pin number, and handouts will be emailed to you prior to the broadcast.  You will need the most current version of Adobe Reader available free at www.adobe.com.

On Demand Web Link & CD- $200
Can’t attend the live webinar?  The ON-DEMAND WEB LINK is a recording of the live event including audio, visuals, and handouts.  We even provide the presenter’s email address so you may ask follow-up questions.  Approximately 1 week prior to the webinar, you will receive an email with the web link.  This web link can be viewed anytime 24/7, beginning 6 business days AFTER the webinar and will expire 6 months after the live program date.  But there's more . . . AS AN ADDED BONUS, you will also receive a FREE audio/visual CD ROM.*  The CD ROM includes the original audio/visual presentation, the question and answer sessions, and the handouts.  Use the on-demand link or this “off-the-shelf” training program for those that could not attend the live seminar and for future training.

Live Webinar & On-Demand Web Link (INCLUDES FREE CD-ROM)- $250
Includes options 1 and 2 above

Special Registration Option for member credit unions under $20 million-$169
On-demand link only (does not include CD or live webinar)

*To register for this webinar, click here.

For more information, please contact Carrie Buchholz at:
(P) 405.702.8622 ext. 215
(E) carrie@cuaok.org

Speakers

Heighes, Mary-Lou
Mary-Lou Heighes is President and founder of Compliance Plus, Inc.  Involved in the credit union movement since 1989, she spent 5 years working in credit unions in almost every position, including loan officer, marketer, and collector.  She also worked at the California Credit Union League for 7 years, providing compliance assistance and advising credit unions of regulatory changes.  While at the league and for several years thereafter, Mary-Lou advised on state and federal legislative issues.

Compliance Plus, Inc. was founded in 2000 to provide compliance assistance to credit unions.  Since then, Mary-Lou has helped credit unions with developing compliance programs, provided compliance training nationwide, and spoken at numerous credit union conferences throughout the country.  She has been an instructor at Regulatory Compliance Schools, conducts dozens of webinars for credit-union-related organizations throughout the country, and has written articles for Credit Union Magazine.