On Demand Course

Safe Deposit Box Operating Procedures

This information is essential because every vault transaction can lead to considerable liability 

Learning Objectives

After attending this presentation, participants will be able to:

  • Explore how FDIC/NCUA signs, logos or brochures create safe deposit liability
  • Identify ten necessary steps when granting box access
  • Review how having box numbers on keys can create liability
  • Discuss if there at least ten items included in your new box renter's kit
Dave McGuinn 2 HR
Included with Team Membership

About This Course

The safe deposit operation is a unique, fast-changing service in the financial industry. It is the only product or service in which members of your staff do not know the value of a consumer’s assets. Effective procedures and sound daily practices can counteract and minimize this risk. This course covers the “nuts and bolts” and the recommended day-to-day operating procedures for your institution.

Topics covered in this session

  • Liability if box access is allowed "before or after" lobby hours
  • Five types of identification from every signer on a new box contract
  • Know why you will lose a lawsuit if you leave anyone in your vault alone
  • Can you purchase locksmith tools on EBAY which will open boxes in seconds?
  • Are you providing a "No Insurance Disclosure Notice" to all new box renters?

 

*This program does NOT qualify, nor meet the National Standard for NASBA accreditation 

Your Instructor

Dave McGuinn
Dave McGuinn

David McGuinn, President of Safe Deposit Specialists, is a former banker with over 45 years of safe deposit experience. He is often referred to nationwide as the safe deposit GURU. In all 50 states he has trained over 350,000 safe deposit managers and personnel since 1969, and has served as President of the American Institute of Banking and the American, Texas and Houston Safe Deposit Associations. All four organizations have presented him with their President's Award for his dedication to the financial industry.Dave is a featured speaker for the American Bankers Association and the National Association of Federal Credit Union's TV network and has been interviewed by the Wall Street Journal, Dow Jones Money Watch, Bottom Line Financial, Washington Post, New York Magazine, Associated Press, Money Magazine, AARP, National Public Radio, CUNA, FDIC, Court TV, CNN, CBS, ABC and NBC Nightly News on current safe deposit issues.McGuinn has created numerous safe deposit operations, marketing, audit, security, disaster and compliance manuals, brochures, forms, training videos and Internet/audio training programs. His safe deposit products and training seminars are now recognized as the recommended standard for the financial industry. All of his safe deposit resource items can be reviewed at www.sdspec.com.

Training your team?

This course is covered under team memberships.

See Team Memberships
Buying for yourself?
$ 199
Included with Team Membership
Training your team?

This course is covered under team memberships.

See Team Memberships
$ 199
per attendee