Wyoming Chapter
Association of Records Managers and Administrators
Chapter Meeting
November 16, 2004
The Hitching Post Inn, CCR West Room, 1700 West Lincolnway, Cheyenne, WY

Members Present: Tony Adams, Kristy Anderson, Gerrie Bishop, Kerry Beutler, Ramona Christensen, Dolores Crock, Donna Crock, Wendy Kinkade, Valerie Roybal, Vicki Seals, Barb Thomasee, Tim Tyler and Deanne Widauf

Guests: Mary Baca, Vicki Federer, Julie Fornwalt, Denise Freeman, Debbye Lathrop, Pat Newbern, Terry Leader, Ann Roybal, Sara Vigil

Speaker: Tony Minnick, Community First Data Services

Topic: "Check 21 Act"

Kristy Anderson opened the meeting by welcoming everyone in attendance. After enjoying a delicious buffet lunch, all members and guests introduced themselves. Kristy presented our newest chapter members, Kerry Beutler and Gerrie Bishop with the Chapter By-Laws and Chapter pin. Kristy mentioned that our Support Our Troops campaign raised over $1300 in donations. In addition, over $1000 in food, cards, nerf balls, magazines, pocket flags and other incidentals were donated to our Wyoming soldiers in Iraq. Kristy reminded everyone of our upcoming seminar "Getting Ready for 2010: What the Last Ten Years of Computer Discovery has Taught Us."

A 50/50 Raffle was held to raise money for the scholarship fund. Tony Adams was the lucky winner of $9.50.

Kristy introduced our guest speaker, Tony Minnick. Tony noted that Community First Data Services is part of American National Bank for the past 28 years and employs over 60 people. They provide services including check processing and networking for the bank. In 1979 over 32.8 billion checks were processed on an annual basis. In 2001, over 42.5 billion checks were processed which equates to a 30% increase over the 1979 volume or a 1.2% per year growth, Also, electronic transactions have increased over 500% since 1979.

Tony described the Check 21 Act as a new law passed by Congress to improve the overall efficiency of our nation's payment system. It will allow checks to be processed faster than ever. Beginning October 28, 2004, one may receive a "substitute check" instead of an original cancelled or returned check. This is a legal copy of our check that can be used for proof of payment, just as you would use the original check. It includes an exact image of the front and back of your check plus other identifying information. One may ask "why create a substitute check?" Check 21 allows checks to be truncated, which means that the original paper check is removed from the payment system and securely destroyed. The truncating bank will only retain original checks for a shorter period of time determined by the truncating bank, which could be from 1-120 days before being destroyed. The original check is scanned and can be transmitted electronically. This electronic image can be replaced with a substitute check. The benefits of processing checks this way include: faster check clearing, improved check fraud protection, more security in the event of natural and other disasters, fewer delays and faster error resolution. If you need to prove payment of a purchase, substitute checks are treated the same as the original check under state and federal law. If you need a copy of your check, your bank can provide one for you.

With the Check 21 Act, float time will be reduced. Funds will make their way through the system more quickly. To avoid a problem with insufficient funds in your account, one must be sure you have funds available in your account before you write a check to avoid overdraft charges. You may not always receive a substitute check when the original is not available. Some retailers and other businesses may convert your check into an electronic ACH payment. This means the original check is not returned to the bank. It will appear on your statement just like a debit card. Tony noted that it will cost over 10 billion dollars in costs to get all banks ready for this new way of processing checks. The volume of check processing will gradually increase in 2005 and 2006.

Kristy concluded the meeting by reminding everyone to be watching for information on our upcoming seminar on February 16, 2005.

Submitted by,

Ramona Christensen
Chapter Secretary