Speaker: Elizabeth Fast, Spencer Fane Britt &
About the Program
Dormant accounts and unclaimed property pose unique, and often
complicated, problems for credit unions. Credit unions’ procedures
and practices regarding dormant accounts and unclaimed property in safe
deposit boxes have come under attack by both consumers and state
agencies that are entitled to the escheatment of this unclaimed
This webinar will explain the Uniform Unclaimed Property Act and the
tools every credit union needs to evaluate its dormant accounts and
unclaimed (abandoned) property practices. In addition, you will receive
contact information for the unclaimed property administrators in every
state. Since escheat laws vary, this webinar will not cover
statespecific escheat laws. However, you will be able to find your
state-specific escheat laws by using the contact information in the
When is an account considered dormant?
What fees can be imposed on dormant accounts?
What are the credit union’s responsibilities under the Uniform
Unclaimed Property Act?
How should safe deposit boxes be handled?
Does your credit union’s deposit agreement or safe deposit
agreement impose additional responsibilities?
What if your credit union has branches in more than one state?