tower federal credit union safe deposit box

TOWER FEDERAL CREDIT UNION SAFE DEPOSIT BOX PROFESSIONAL

Another consideration is that cash in an insurance-earning deposit account will grow, while cash in a safety deposit box will only lose value over time due to inflation.It is safer to put your cash in a deposit account. Though you are technically allowed to keep cash in a safe deposit box, banks highly advise against it, as the cash inside would not be insured.Is it okay to keep cash in a safe deposit box?.Keeping your valuables in a safe deposit box protects them from potential theft or damage. Yes, safe deposit boxes are an excellent way to protect your irreplaceable or important items or documents safely and securely.Here are the answers to some common questions about safety deposit boxes.

TOWER FEDERAL CREDIT UNION SAFE DEPOSIT BOX PROFESSIONAL

To get advice on where to keep your original will, consult with a professional about what is necessary or suggested by your state’s laws.” “This might originals of your passports and powers of attorney paperwork, which empower individuals to do business on your behalf or make medical care decisions in certain situations. Don’t Lock Up What You Needīe careful that you don’t put anything in your safety deposit box, “that you may need access to immediately or that you might need to access at a time when the bank is not operating,” said Mains. Instead, she recommended a digital safety deposit box for these items.Īnd of course, some things are illegal to store, including weapons, drugs, explosives and toxic or radioactive substances. This slows everything down and makes a typically sad situation even harder and more expensive,” said Renee Fry, CEO of Gentreo. “Too often documents like wills are stored in physical safety deposit boxes that can’t be accessed without petitioning the court after the individual passes away.

Tower federal credit union safe deposit box