Hi, How does your credit union handle lifting a dormancy? Do you require written authorization from the member even if they are in person? Our procedures are changing in this regard, and I am concerned that without their written authorization, we could lose the battle down the road. I have checked the NCUA website and did not find anything. Banker's Online indicates "all adctivation should be documentated with either a check, a deposit, a written and signed request from the customer or evidence that the customer has other active accounts with the same name and address.....Phone calls to or from the customer and general knowledge of the customer should not be allowed as activation attributes as there is no documentation that can be used in the future in the event of a state audit or legal claim by the account holder." I'm concered that without a written consent, even if the member is present, could cause problems in the future. We are still requiring written consent for those not done in person. Thanks Beverly McMahon, Century Federal Credit Union
April 19, 2011 - 9:27am
#1