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Joint Owner Verification

  • 1.  Joint Owner Verification

    Posted 5 days ago

    If you are adding a Joint Owner to an Account, what do you do to verify the joint owners identity?

    We scan their ID Card (drivers license) and verify signatures.   Our legal recommends also verbally

    confirm the addition to the account with both the primary and joint on the account.  Do you take

    these steps?  Or do you have others?   What are your procedures in this case.  Thank you in advance.

     

    Rick Hanan

    CEO

    SMW 104 Federal Credit Union



  • 2.  RE: Joint Owner Verification

    Posted 4 days ago
    We require the primary member and joint owner to fill out a new membership application together, and we require new signature cards with both signing.

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    Jenille Fairbanks
    VP/Lending Compliance
    Mountain America CU
    Sandy UT
    801.325.6228
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  • 3.  RE: Joint Owner Verification

    Posted 4 days ago

    How do you  verify they are who they say they are?   Both of them.

     

    Rick