Computer experts have been working hard to make sure nothing
will happen to
your bank accounts on Jan. 1, 2000, said a University of
Georgia specialist.
You need not worry.

“There are some end-of-year statements and paperwork to
collect,” said Esther
Maddux, an Extension Service financial specialist with the UGA
College of Family
and Consumer Sciences. “But you need to keep good records all
the time, not
just because you’re worried about the Y2K ‘bug.’”

Banking and financial institutions began preparation for
the 1999-2000 rollover several
years ago. So their systems are either compliant or are
scheduled to be compliant before the new
year.

“The banks are ready,” Maddux said. “So banking
customers just need to collect records
they normally would at the end of the year.”

Maddux
recommends you have three to six months’ worth of these
records at the end of
the year.

• Checking and savings account statements.
• Loan and repayment schedules (including credit cards) and
  payment receipts.
• Investment account statements.

With these records, if problems do occur, you’ll be able to
straighten them
out quickly.

For further peace of mind, the Federal Trade Commission
offers these precautions
to ease your way into the next millennium.

• Ask your financial service provider how it is dealing
  with the rollover.
  If you’re not comfortable with the response, consider doing
  business elsewhere.
• Ask what type of backup records are kept in case of an
  emergency. How would
  these records be used to identify and correct problems
  affecting your deposit,
  loan, or other account?
• Get a copy of your credit report from one of the three
  major credit bureaus
  — Equifax (800-685-1111), Experian (800-682-7654) or
  TransUnion (800-916-8800)
  — before and after Jan. 1, 2000. You may be charged up to
  $8 for your report.
  Check for errors and report them to the credit bureau.

Some people plan to have a little extra cash on hand near the
new year, just
in case. But remember, cash can easily be lost or stolen.
Banking experts say
any funds in FDIC-insured accounts are safe, no matter what
happens to the computers.

In a recent on-line interview,
Federal Deposit Insurance Corporation chairman Donna Tanoue
said, “FDIC-insured
deposits are safe, just as they always have been. The FDIC’s
protection of insured
deposits will not be affected by the year 2000.”