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Essentials of Business Accounts

Virtual

Published: Apr 28, 2021

Event date: 6/2/2021 1:30 PM - 4:00 PM Export event


There are numerous types of business accounts and there are many different ways to transact those business accounts today. It can be challenging to determine who is authorized to open, close and transact for business entities. In addition to opening business accounts in person, we now add to the mix opening those accounts online, issuing debit cards and utilizing remote deposit. With new approaches we have new questions. This session will take a look at not only setting up these accounts but being prepared for how those accounts evolve as the business evolves.

The Member Business Services Council (a collaboration of the Louisiana and Cornerstone Leagues) is proud to fully sponsor this session by Debbie Crawford of GetTechnical Inc at no cost to you. The MBSC and Debbie want to ensure that all credit unions that offer business accounts have a solid understanding of the numerous scenarios you will encounter. Join us for free on June 2nd from 1:30 to 4:00 pm Central to discuss:

  • Sole Proprietors, Partnerships, Corporations and LLC
  • Changing signers on business accounts
  • What happens when an owner dies on a business account?
  • Can a partner remove another partner?
  • How do we give debit cards on business accounts? Where is the liability?
  • How do we run CIP on business accounts?
  • Can we have a power of attorney on a business account?
  • With the new complicated limited liability company, how can we tell who is authorized to remove a signer when they are all managing members?
  • Handling multi-tiered business accounts with businesses owning businesses
  • How disregarding an entity for tax purposes affects account styling?
  • Resolutions, signature cards and endorsements…and much more

Who Should Attend?

This informative session is directed to MSRs, Branch Managers, Lenders, Trainers, Tellers and all staff that work in the in the commercial area of the credit union.


If your credit union offers business accounts & loans, and you don’t have representation on the Member Business Services Council, be sure to sign up today. Membership is FREE and the benefits of networking are priceless.


Registration is now closed. To register, email education@lcul.com.

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