Credit Check Webinar June 21 2012 Credit Check
Credit Check Webinar June 21, 2012
Credit Check Webinar z. Presenters: y. Jay Frymark – Director Parish Finances y. Jane Budney – Director Parish Human Resources
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
Who else checks credit reports?
Who is covered? z Priests, Parish Directors z Trustees z Paid staff that regularly handles funds or the accounting thereof z Volunteers and contractors are not covered
When is a credit report needed? z Priests and Parish Directors: upon appointment z Trustees: During nomination for (re)election z Paid staff: Upon hire z Effective on or after July 1, 2012 z Priests, parish directors and staff: thereafter coincident with 5 year criminal background check
What is to be provided? z Only a Credit Report is requested, not a credit score z You may submit a report from Equifax, Experian or Trans. Union z www. annualcreditreport. com/cra/index. jsp z Credit Reports are free every 12 months
What’s in a credit report? What will they look for? z Personal Information: verify your data is accurate
What’s in a credit report? z Credit accounts: loans, credit cards: look for unsatisfactory accounts, e. g. , late payments, especially over 30 days, credit limits at maximum
What’s in a credit report? z Negative/adverse information: y Delinquent accounts y Bankruptcy y Foreclosure y Civil judgments y Accounts referred to collection y Garnishments y Liens for nonpayment
Negative/Adverse Information
What’s in a credit report? z. Contact Parish Finance Office for assistance in interpreting reports z. Parish Finance will coordinate as necessary with Human Resources
Who will review my credit report? What happens after it is reviewed? z Priests and Parish Directors are reviewed by Rick Tank z Trustees and staff are reviewed by the pastor, administrator or parish director z Report is returned to individual or destroyed; no copies are retained
Concerns with the process: z Is it legal to request a credit report? z What should be done if a prospective trustee or employee will not furnish a report? z What about a current employee? z What if something is discovered that makes a person unsuitable for their position?
Credit Report Resources z Jay Frymark 414 -769 -3336 z Doug Miller 414 -769 -3377 z Jane Budney 414 -769 -3370 z parishfinance@archmil. org
Questions & Comments
Thank You
- Slides: 17
