Opening Nonprofit Deposit Accounts

In the Bank Secrecy Exam manual charities and nonprofit organizations are looked at as  "high risk" accounts.  How is your bank opening the accounts and doing due diligence on these interesting entities?  The group of nonprofit organizations your bank may have as customers range from Boy Scouts to the local bowling league.  You may have the Rotary who has meetings, minutes and tax identification numbers and are very easy.  Or, you could have the High School Reunion account with no meeting, minutes or tax identification number.  This seminar looks at all the compliance and regulatory issues on nonprofit organizations and will provide some guidance as how to open these various types of nonprofit organizations at your bank.

HIGHLIGHTS

• Customer identification, Enhanced Due diligence, OFAC on nonprofit organizations
• How to open accounts for tragedies
• How to open accounts for political campaigns
• How to open accounts for nonprofit corporations
• How to open accounts for formal nonprofit versus informal nonprofit organizations
• Resolutions, signature cards, federal regulations and all the paperwork
• Changing officers, signers and  much much more 

WHO SHOULD ATTEND?

This informative session is designed for Customer Service Representatives, Personal Bankers, Branch Managers, Branch Administration, Bank Secrecy Staff, Training.