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Banking: Adding/Replacing Board Signers to Wintrust Bank Accounts Follow

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Aaron Aguilon
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Adding Board Signers to Wintrust Bank Accounts

Overview

This article explains the process for adding board members as authorized signers to Wintrust bank accounts. The documentation requirements and process vary depending on whether board signers are being added in addition to existing Westward360 signers or replacing them entirely.

Adding Board Signers in Addition to Westward360 Signers

Board members are added as signers alongside Westward360, with both having equal signing authority.

Step-by-Step Process:

  1. Community Manager prepares the following documents (which serve as supplementary documentation to existing files): Instructions on How to Fill Out Wintrust Documents
    Example of Completed Forms
  2. Community Manager sends documents via DocuSign account to board members for completion. Once completed by board members, Community Manager collects all documents.
  3. After all forms are completed, please send the finalized documents to the following contacts:
    Aaron Aguilon: aarona@westward360.com
    Danny O'Connor: danielo@westward360.com
    Aaron/Danny will forward the completed documentation to Kelly (Wintrust bank representative) for processing.
  4. Bank processes the additional signers.
    Processing Time: Wintrust Bank's typical turnaround time for signatory updates is 3-5 business days after receiving the completed documents.

Board Members as Primary Signers

Board members become the primary signers for board business while Westward360 maintains operational signing access.

Step-by-Step Process:

  1. Community Manager collects the full signer information sheet from board members (this information will be sent to the bank to prepare replacement documents)

    Instructions on How to Fill Out Wintrust Documents
  2. Community Manager sends the collected signer information to the following contacts:
    Aaron Aguilon: aarona@westward360.com
    Danny O'Connor: danielo@westward360.com
    Aaron/Danny coordinates with Kelly (Wintrust bank representative) to send the signer information sheet for document preparation
  3. Wintrust Bank prepares replacement documents including:
    • Signature Card (prepared by bank)
    • Corporate Resolution (prepared by bank)
  4. Community Manager sends the bank-prepared documents via DocuSign account to board members for completion. Once completed by board members, Community Manager collects all documents and sends to Aaron Aguilon (aarona@westward360.com) or Danny O'Connor (danielo@westward360.com).
  5. After all forms are completed, Aaron/Danny forwards the completed documentation package to Kelly (Wintrust bank representative) for processing.
  6. Bank processes the signatory changes.
    Processing Time: Wintrust Bank's typical turnaround time for signatory updates is 3-5 business days after receiving the completed documents.

Instructions on How to Fill Out Wintrust Documents

1
Community Advantage Signature Card
Complete top section with Association Name and EIN Number. Have all board members who wish to sign on the account sign the same signature card.
Note: Board secretary must sign bottom of second page even if not going to be authorized signer.
1.2
Signature Card Addendum
Only required if using signature card on file. Write association name on top, one signer to sign the bottom and date. The Bank will fill in the account number once assigned in the system.
2
Resolution of Corporations
Fill in dates in right corner with the association address and depository account. Each authorized signer should print and sign their name on the second page. One other authorized signer must sign as Designated Representative on the second page.
3
Signer Information Sheet
Print one per signer. Each new person who wishes to sign on the account and is to be an authorized signer must complete a Signer Info Sheet in its entirety.
Required Documentation: Copy of Driver's License OR notarized form if they don't want to provide the copy.

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