Course description

The safe deposit box service is now over 160 years old and an estimated 25 million boxes are currently rented in thousands of nationwide financial institutions. These boxes are offered to consumers within a highly regulated industry but there are very few laws governing how to run a safe deposit operation. There are also no guidelines to follow if a financial institution decides to eliminate this service. This presentation provides answers for the most frequently asked “phasing out” questions and addresses the many important “Pros & Cons” for continuing or discontinuing this service. 

Specific Areas Covered in the Event:

Why are nationwide institutions really eliminating this service? 

What could happen if safe deposit services are discontinued?

If service is discontinued how much notice must be given?

What safe deposit operating expenses could you save?

Specific Take-aways:

If self-service boxes are offered, could you save money?

Are home safes a much better consumer option?

Who are your current safe deposit box renters?

Is this service a profit center or a loss leader?

BONUS Material:

Final exam to test and review many of your compliance issues.

Sate Deposit Report Card is provided to audit your procedures. 

Website with over eighty (80) safe deposit box resources.

Current safe deposit news articles and videos


WHO SHOULD ATTEND:

 This informative program will benefit safe deposit supervisors, operations officers, marketing staff, branch managers and your in-house legal counsel

 

Instructor(s)

Dave McGuinn

David P. McGuinn, President of Safe Deposit Specialists, is a former banker with fifty years of safe deposit experience and is often referred to nationwide as the safe deposit GURU. in all 50 states he has trained over 350,000 safe deposit employees and managers and has served the industry as President of American Institute of Banking and the American, Texas and Houston Safe Deposit Associations. Dave is a featured speaker for the American Bankers Association, Independent Community Bankers of America, National Association of Federal Credit Unions and over 100 other nationwide financial associations. He has been interviewed by the New York Times, Wall Street Journal, Money Magazine, New York Magazine, Reader’s Digest, Fortune Magazine, Associated Press, National Public Radio (NPR), Canadian Broadcasting Corp. (CBC), British Broadcasting Corp. (BBC), AARP, Bottom Line Financial, FDIC, CUNA, CNN, CBS, ABC, FOX, NBC Nightly News, Inside Edition, Crime Watch and Court TV on current safe deposit issues. McGuinn has created numerous training programs and his Regulatory/Compliance Manual, Policy and Procedures Handbook, Audit Manual and Fire & Flood Disaster Recovery Manuals are now the accepted standard for the financial industry. www.sdspec.com

Course curriculum

  • 1

    Are Safe Deposit Boxes On Their Way Out?

    • Watch Live Course

    • Where to Go With Audio or Connection Issues

    • Questions for Speaker?

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