| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 992.1 | escheat laws | SLOAN::HOM | | Fri May 10 1996 09:32 | 12 |
| > What's with this? Is this just a courtesy check asking if
> we're still alive? OR is this an effort to cancel accounts
> that don't see alot of activity?
There are no plans to cancel accounts that don't have activity.
I do know that most states have escheat laws which requires institutions
to turn over money from accounts that have been inactive for a period
of time. Posting of interest is NOT considered activity.
This may be the case in your situation.
Gim
|
| 992.2 | We don't want to lose you! | MUZICK::RITCHIE | Elaine Kokernak Ritchie, 227-3089 | Fri May 10 1996 12:14 | 20 |
| MW,
If an account is inactive for three years, the money must be turned over
to the State. In the past, DCU would start checking with folks after
two years. But they found that after two years, it was often difficult
to find an account owner. If they are found, but the account has been
inactive that long, it's usually hard to convince someone to reactivate
the account. So DCU is now beginning earlier to reconnect with inactive
account holders.
DCU would rather reactivate an account than have it closed. Once an
account is closed, the member is lost. In the current climate, it may
not be possible to get that member back again, since it is more likely that
they do not work at Digital, so they would not be eligible for membership
once they left DCU.
In your particular case, DCU can suggest ways to keep your daughters'
accounts active, if you visit your local branch, or give them a call.
Elaine
|
| 992.3 | | PCBUOA::KRATZ | | Fri May 10 1996 12:52 | 4 |
| The "old" DCU instituted service charges for inactive and/or $5min
accounts. The "new" DCU seems to have figured out that wasn't a
real smart thing to do. Ya got me to come back!
K
|
| 992.4 | | MOLAR::DELBALSO | I (spade) my (dogface) | Fri May 10 1996 13:09 | 14 |
| > In the current climate, it may
>not be possible to get that member back again, since it is more likely that
>they do not work at Digital, so they would not be eligible for membership
>once they left DCU.
???
Are you sure about this Elaine?
I thought that the charter/bylaws provided for "once a member, always a
member"? As a matter of fact, I have a friend who left DIGITAL and DCU
several years ago and just "came back" although he's not in the specified
"field of membership" companies.
|
| 992.5 | | MUZICK::RITCHIE | Elaine Kokernak Ritchie, 227-3089 | Fri May 10 1996 14:40 | 11 |
| Re: .4
If you are a member of DCU and you close your account, you cannot
rejoin unless you are in the field of membership (you work for one
of the sponsors, or you are in the same household as a member, or
as someone who works for one of the sponsors).
The person who came back may have another connection besides being
a Digital employee. Or he may have left $5 behind. Do you know?
Elaine
|
| 992.6 | | MOLAR::DELBALSO | I (spade) my (dogface) | Fri May 10 1996 14:59 | 12 |
| >The person who came back may have another connection besides being
>a Digital employee.
No - none.
> Or he may have left $5 behind. Do you know?
No again. He closed all of his accounts when he left DIGITAL in 1993.
When he investigated the possibility of re-establishing his accounts,
he was told "no problem" as he'd been a member before.
|
| 992.7 | | MUZICK::RITCHIE | Elaine Kokernak Ritchie, 227-3089 | Fri May 10 1996 17:37 | 10 |
| Okay. I'll go with that, then.
My point is still true. Once a member leaves and closes their
accounts, it's much harder to find them, and to convince them to
return.
At least it's much easier to keep them happy, so they never
leave.
Elaine
|
| 992.8 | | STAR::PARKE | True Engineers Combat Obfuscation | Mon May 13 1996 10:56 | 11 |
| I haven't read the charter or Bylaws in quite a while, but,
When I joined (Early 80's, I think 82) one of the provisions that
surprised me then was that "DCU is open to all current and former
DIGITAL Employees and their families".
Am I misremembering this ?
Bill
|