January 25, 2016 - 11:28am
#1
Our Credit Union is using official check stock that is not printed with check numbers. The check numbers are system assigned as checks are issued. These checks do have a 'control number' printed on the back for inventory purposes, which is the only method of identifying the stock until one is issued and a check number, micr number and signature is imprinted. Because of this, management does not give a great amount of importance in ensuring these are issued in sequential order, and validated by the area receiving the stock.Does you credit union use such stock? How do you ensure/enforce dual control and inventory control on them. How does your credit union view the risks associated with this type of official check stock?
