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Credit Check Webinar June 21, 2012. Credit Check Webinar zPresenters: yJay Frymark – Director Parish Finances yJane Budney – Director Parish Human Resources.

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Presentation on theme: "Credit Check Webinar June 21, 2012. Credit Check Webinar zPresenters: yJay Frymark – Director Parish Finances yJane Budney – Director Parish Human Resources."— Presentation transcript:

1 Credit Check Webinar June 21, 2012

2 Credit Check Webinar zPresenters: yJay Frymark – Director Parish Finances yJane Budney – Director Parish Human Resources

3 Why Credit Reports? z Archdiocesan Council of Priests resolution z Tool to help parish leader assess potential issues z Adds another layer of due diligence z Initiate discussion to determine risk level

4 Who else checks credit reports?

5 Who is covered? zPriests, Parish Directors zTrustees zPaid staff that regularly handles funds or the accounting thereof zVolunteers and contractors are not covered

6 When is a credit report needed? zPriests and Parish Directors: upon appointment zTrustees: During nomination for (re)election zPaid staff: Upon hire zEffective on or after July 1, 2012 zPriests, parish directors and staff: thereafter coincident with 5 year criminal background check

7 What is to be provided? zOnly a Credit Report is requested, not a credit score zYou may submit a report from Equifax, Experian or TransUnion zwww.annualcreditreport.com/cra/index.jspwww.annualcreditreport.com/cra/index.jsp zCredit Reports are free every 12 months

8 What’s in a credit report? What will they look for? zPersonal Information: verify your data is accurate

9 What’s in a credit report? zCredit accounts: loans, credit cards: look for unsatisfactory accounts, e.g., late payments, especially over 30 days, credit limits at maximum

10 What’s in a credit report? zNegative/adverse information: yDelinquent accounts yBankruptcy yForeclosure yCivil judgments yAccounts referred to collection yGarnishments yLiens for nonpayment

11 Negative/Adverse Information

12 What’s in a credit report? zContact Parish Finance Office for assistance in interpreting reports zParish Finance will coordinate as necessary with Human Resources

13 Who will review my credit report? What happens after it is reviewed? zPriests and Parish Directors are reviewed by Rick Tank zTrustees and staff are reviewed by the pastor, administrator or parish director zReport is returned to individual or destroyed; no copies are retained

14 Concerns with the process: zIs it legal to request a credit report? zWhat should be done if a prospective trustee or employee will not furnish a report? zWhat about a current employee? zWhat if something is discovered that makes a person unsuitable for their position?

15 Credit Report Resources zJay Frymark zDoug Miller zJane Budney

16 Questions & Comments

17 Thank You


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