Attention Xtend Clients,
Xtend’s Board of Directors approved an update to the 2024 shared branching guidelines adding information about POA withdrawals. This update can be found on page 9 under the “withdrawals” section, and reads:
As a general rule, Power-of-Attorneys (POAs) are not permitted to perform withdrawals on accounts through Xtend Shared Branching. This is due to the specific paperwork describing account activity and transaction restrictions that may not be readily available to the teller credit union. However, if the teller credit union receives a withdrawal request by a POA, the teller credit union may choose to contact the home credit union to determine whether, in fact, the home credit union approves of the transaction request made by the POA. Such approval should be appropriately documented before proceeding with the transaction.
The updated guidelines have been posted to the alerts page found in CU*BASE.
If you have any questions, please reach out to info@xtendcu.com. Thank you for being a valued client of Xtend!
