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#2200051 - 12/06/18 09:09 PM Logging Incoming Mail
Lele Offline
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Lele
Joined: Feb 2007
Posts: 825
In the Sun
We log all the incoming mail that comes to our main office - bill payments, loan payments, etc. Does anyone have another method of tracking incoming mail or you don't track it? Thanks.
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#2200084 - 12/07/18 01:45 PM Re: Logging Incoming Mail Lele
osucpa Offline
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Joined: May 2011
Posts: 1,398
Don't track.

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#2200095 - 12/07/18 03:13 PM Re: Logging Incoming Mail Lele
Valley girl Offline
Gold Star
Joined: Aug 2014
Posts: 285
TX
We track all incoming payments (checks, cash) and returned mail. Our examiners check it to make sure dual control is in place. We are a small state chartered CU. I think it is an outdated practice, but we will continue as long as the examiners keep asking.

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#2200168 - 12/07/18 09:46 PM Re: Logging Incoming Mail Lele
ItNeverEnds CRCM Offline
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Joined: Oct 2006
Posts: 992
Looking for my sanity
Don't track It's just not a reasonable practice or any way to do this in an efficient manner. I'd question why would you do this, other than some auditor once said "what if you get cash in the mail".
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#2200169 - 12/07/18 09:53 PM Re: Logging Incoming Mail Lele
Norman Paperman Offline
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Norman Paperman
Joined: Aug 2012
Posts: 1,636
48.934476, -114.343735
Same here.

What purpose does it serve?
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#2200179 - 12/07/18 10:42 PM Re: Logging Incoming Mail Lele
fmissle Offline
Platinum Poster
Joined: Jul 2007
Posts: 955
Pac NW
Incoming no.
Returned yes.

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#2200181 - 12/07/18 10:57 PM Re: Logging Incoming Mail Lele
Valley girl Offline
Gold Star
Joined: Aug 2014
Posts: 285
TX
We've had it noted in two audits (we had to buy a special lock box for returned mail last year) and examiners always ask for our log. Yes, the reason is someone might send cash, and on the returned mail, for the "dual" control to shred the statements. It's a dumb thing, but if it keeps them occupied, I won't upset the apple cart. These are the same people that require we do a "Verification of Accounts" which is even more pointless since so many members have e-statements, and/or have ability to view accounts online. Verifications are expensive and time consuming and their usefulness has passed.

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#2200185 - 12/08/18 12:33 AM Re: Logging Incoming Mail Lele
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,341
Cape Cod
Until the members that don't avail themselves of online access or view their statements are targeted by a dishonest employee. I have a feeling that on the whole, CU members are probably more "tuned in" to online access and probably a better percentage of members use it than the percentage of bank consumer customers, but there are always those who just don't give a hoot about following their accounts responsibly. So I don't see verifications going away anytime soon.
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#2200199 - 12/08/18 02:52 PM Re: Logging Incoming Mail Lele
Valley girl Offline
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Joined: Aug 2014
Posts: 285
TX
I agree 100% John. I realize that verifications and mail logs are probably going to remain in my future, so we do both the best we can:-)

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