Executing a Power of Attorney (POA) document is essential for a wide range of reasons. From a financial perspective, your designated Attorney-in-fact (also known as Agent) would be able to act on your behalf in situations such as filing taxes, selling property, refinancing a mortgage, or cashing checks. You should not execute a power of attorney unless you have complete faith in your designated Attorney-in-Fact (Agent).
Your attorney can provide you with a General Power of Attorney form, which may cover many types of assets and transactions.
To set up a Power of Attorney in the community branch; the Attorney-in-Fact (Agent) will need to be present to sign a Signature Card as Attorney-in-fact for each account you wish to give them authority. A notarized or two-witness signature General Power of Attorney document that has been executed and signed by the Principal will need to be provided. As the Principal who executed the Power of Attorney, you may revoke it at any time, but you would need to inform Provident of any changes. A Power of Attorney terminates automatically at the death of the Principal.
The only limitation is reviewing past member statements; this needs to be requested by phone, CSR messaging or by branch.) *Currently, an Attorney-in-Fact cannot access a Principal's past members statements through Online Banking. However, access is available by requesting through phone, secure messaging, or by visiting a community branch.