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Upcoming League Events


Webinar: Trust Compliance in Opening Accounts & Lending


Thursday, March 27, 2014

2:00 - 3:30 pm CST


Speaker: Elizabeth Fast, JD, CPA, Spencer Fane Britt & Browne, LLP


Opening a deposit account or lending to a trust is substantially different from opening an account or lending to an individual. Although many members inappropriately treat trust property as their own individual property, your credit union must treat the trust as a legal entity separate from the individual. Further, trust agreements are lengthy, complicated legal documents which can expose your credit union to significant liability if not handled properly.


This webinar will explain everything you need to know about opening accounts for trusts, including proper account documentation and authorization requirements. You will also learn about lending to trusts, including appropriate loan documentation and proper perfection of security interests in trust property. Join us to understand the steps your credit union can take to reduce loss when dealing with trusts.

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