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Case 5.1 Essay

Decent Essays

5.1. Keys are not available for four of eight (50%) vacated self-service storage boxes reviewed. FORUM should retain keys for all unused self-service storage boxes. Missing keys could result in boxes being unavailable for member lease. Additionally, contents could be left from previous box owner violating Indiana abandoned property requirements. Lastly, the box could currently be in use resulting in possible legal disputes. Action Plan: The branch completed a self-service storage box review on July 10, 2013 and was aware of the missing keys to the boxes. However, since there were twenty-one boxes with missing keys and sufficient boxes in demand it was determined not to drill the boxes at the time. The cost to drill and replace the locks would be anywhere from $2,000 - $2,300. A review of current demand for boxes indicates that there is sufficient supply and no member is currently on a waiting list. Additionally, a review of the records associated with the boxes indicates that there is no evidence that the …show more content…

The member viewing room for safe deposit boxes is not private. Additionally, the viewing room had a trash can present. Safe deposit box viewing rooms should be private for member use. In addition, the viewing room should be clear of any containers to hide items (waste baskets, tissue boxes, etc.). Public viewing rooms and items present in viewing rooms could interfere with member privacy which could lead to claims of theft, fraud, etc. Action Plan: Risk was not considered during the initial design of the branch. Additionally, the team was not aware of the risks associated with having containers in the viewing areas. Due to the significant cost to reconfigure the branch for a private viewing room the branch will continue not to have a dedicated private viewing room. However, effective August 5, 2015, if a member requests a private area they will be directed to the conference room which will be inspected before and after each member

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