Jun 14 2012

Safety Deposit Boxes…Why Are They Useful?

Our Portage Road location offers a variety of safety deposit boxes for your needs.

Safety deposit boxes protect your family’s and your important valuables and documents from fire, water, natural disasters, and theft. On top of that they ensure you have added privacy for your items.

This week our Consumers team was thrilled to open our new Portage Road location featuring 260 new safety deposit boxes! The Portage Road office will now be the second office (with South Haven’s office as the first) to offer members this valuable service. People use safety boxes to store a number of important documents and valuables.

A blog article on Allfinancialmatters.com by author, JLP, along with Paul Bomberger’s online article, “What not to store in your safe-deposit box” list some examples of things that you might want to put in a safety deposit box. This includes: a copy of your will, your birth certificate, family heirlooms, gems, a copy of a your passport, your marriage certificate, separation /divorce papers, college degree, professional license, foreign currency, social security card, stock and bond certificates, health information, military records, deeds, titles, or insurance documents,

Kim Ferris, Manager of the Portage Road office, says that, “A lot of people have home safes, but feel more comfortable with their valuables in a vault that cannot be hauled away.”

One thing to not store in your safety deposit box would be the original copy of your will. This is especially important if you are the only renter for your safety deposit box, because your family and relatives that are not co-renters on your safety deposit box will not have immediate access to your box if you die. Although many people believe that their power of attorney can access their safety deposit box after they die, they are mistaken because the power of attorney loses that ability in the unfortunate occurrence of an untimely death.

Consumers’ safety deposit boxes offer an alternative and more secure location to keep your valuables. You will find that we offer a variety of sizes and prices to accommodate your needs:

•3x10x22      75.00 per year

•5x10x22      100.00 per year

•10x10x22   150.00 per year

*You must be 18 years or older to rent a safety deposit box

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