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Credit Check Webinar June 21, 2012

Join our webinar to learn about the importance of credit reports in assessing potential risks for parish leaders. Find out who is covered, when a credit report is needed, and what to look for. We'll address common concerns and provide resources for further assistance.

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Credit Check Webinar June 21, 2012

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  1. Credit Check Webinar June 21, 2012

  2. Credit Check Webinar • Presenters: • Jay Frymark – Director Parish Finances • Jane Budney – Director Parish Human Resources

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

  4. Who else checks credit reports?

  5. Who is covered? • Priests, Parish Directors • Trustees • Paid staff that regularly handles funds or the accounting thereof • Volunteers and contractors are not covered

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

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

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

  9. What’s in a credit report? • Credit 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? • Negative/adverse information: • Delinquent accounts • Bankruptcy • Foreclosure • Civil judgments • Accounts referred to collection • Garnishments • Liens for nonpayment

  11. Negative/Adverse Information

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

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

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

  15. Credit Report Resources • Jay Frymark 414-769-3336 • Doug Miller 414-769-3377 • Jane Budney 414-769-3370 • parishfinance@archmil.org

  16. Questions & Comments

  17. Thank You

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