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They're not easy to find. I got a notice last month from my credit union that I need to plan move my stuff out of my deposit box. The Credit Union "relies on
by jdeibele 4y ago
They're not easy to find. I got a notice last month from my credit union that I need to plan move my stuff out of my deposit box.
The Credit Union "relies on a vendor for the software that is used to open, close, and maintain Safe Deposit Boxes. Over time, the vendor stopped consistently upgrading this software and we have now learned that it is being phased out altogether. Replacing this type of system would mean a significant cost to our membership."
A few years ago they replaced the double key system (bank employee has a key, you have a key) with a handprint system to let one customer at a time into the vault. They removed the bank key.
I always have to remember which set is where my box is: they have 3 or 4 boxes labeled 131 because they acquired them from other banks or credit unions who got out of the business.
I had to settle my aunt's estate in Huntington Beach a few years ago. The Chase branch there limited people to one box per branch because they are relatively popular. But safe deposit boxes definitely skew towards grey hair.
I opened an account with my credit union because they were one of the few options for safe deposit boxes but the branch with the boxes is miles away from my local branch so I don't use it often. I would have liked to store backups there but in the end I use BackBlaze.