Webinar: Deposit Insurance Coverage & Calculation
December 6, 2023 3:00 pm - 4:30 pm
How good are you at calculating deposit insurance?
Simple individual accounts might be easy, but joint accounts can be dicey. Do you know when accounts are added together? Which accounts have separate coverage? What about trusts? Attend this timeless topic to get the goods on properly calculating deposit insurance.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Maximize insurance coverage
- Use the NCUA’s deposit insurance calculator
- Define revocable trust account and eligible beneficiary and how membership affects coverage
- Explain how to calculate insurance coverage for multiple ownership types
- Distinguish between accounts that are added together and accounts that have separate coverage
WEBINAR DETAILS
In today’s uncertain economic times, accountholders are increasingly concerned about protecting their hard-earned savings. Your credit union may be offering some of the highest certificate rates in recent times in order to draw in deposits for additional liquidity. Those two factors alone have driven additional interest in ensuring deposits are fully insured. This session will review the different types of account ownership, explain how adding joint owners and beneficiaries increases coverage well beyond $250,000, and review advertising and disclosure requirements for insured accounts.
WHO SHOULD ATTEND?
This informative session is designed for tellers, account representatives, business development specialists, marketing personnel, call center employees, staff responsible for calculating and reporting insured deposits, compliance personnel, auditors, and anyone with an interest in understanding how to get the most protection for share accounts.
TAKE-AWAY TOOLKIT
- Sample calculations
- Internet resources
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
Speaker: Mary-Lou Heighes, Compliance Plus, Inc.
Mary-Lou Heighes is President and founder of Compliance Plus, Inc., which has assisted financial institutions with the development of compliance programs since 2000. She provides compliance training for trade associations and financial institutions. Mary-Lou has been an instructor at regulatory compliance schools, conducts dozens of webinars, and speaks at numerous conferences throughout the country.
Involved with financial institutions since 1989, Mary-Lou has over 30 years’ compliance experience. Before starting Compliance Plus in 2000, she spent five years working as a loan officer, marketer, and collector. She also worked at a state trade association for seven years providing compliance assistance and advising on state and federal legislative issues that affect financial institutions.
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