Beginner
What is a POA?
POA- When a person grants another person to act for them regarding certain subjects.
-Agent has to be working in the BEST interests of the Principal (Primary).
Can a POA make changes to the account?
(Personal items can only be change for POA IF they bring documentation stating they may edit anything for themselves)
Can a POA have online banking?
No, the POA cannot have their own OLB. It needs to be the Principal's sole OLB.
How many Patelco Branches are there?
37🏦
When does a POA end?
POA ends on the date of Principal passing.
-Effective immediately
Outside of POA docs, is there anything else we may need to collect?
Yes!
We need Patelco POA docs AFTER they have been original POA docs have been approved by Specialized Accounts. Then these docs need to be notarized.
Can a POA make checks payable to themselves?
No, the funds between a POA and the Principal must never commingle.
When was Patelco founded
1936🤯
NO
-They need to pick one or the other
Yes, POA an have a debit card in their own name but must use it only in the best interest of the Principal.
Transactions will be tracked.
Can POA DEPOSIT a check payable to themselves into the principals account?
NO!
What does Patelco Stand for?
Pacific Telephone and Telegraph Company☎️
What makes a POA valid?
OR- It is acknowledged by a notary public and signed by 2 witnesses
Can a POA have checks in their name?
NO.
If someone is a Joint, why is it advised for a joint to not be POA in some circumstances?
The POA ends the date of principals death IMMEDIATELY. If they are a joint they are still able to transact on accounts they are on, and the funds can be moved to the joints own personal account or they can create membership.
What does SPEERIT stand for?
Service, Passion, Engagement, Empowerment, resourcefulness, Integrity and Teamwork!! 🥰
Yes.
Can a POA open a new membership for a non-member?
They can, but we are not obligated to open a deposit account at the request of an attorney or a POA agent.
Can a JOINT owner have a POA?
Yes, a Joint can have their own POA but it is THEIR responsibility to communicate this to the primary member or other joint owners.
How long has our fearless leader Erin Mendez been with Patelco?
11 years! 🥳