New Accounts Clerks, sometimes known as new accounts tellers or customer service representatives, interview prospective clients who want to open new checking or savings accounts. New Account Clerks also record data and keep related records of these accounts.  

JOB DUTIES

New Accounts Clerks may:

Interview customers desiring to open new checking and savings accounts  

Explain banking services available to prospective customers  

Assist new customers in preparing application forms  

Record data on the application forms  

Keep records relating to all new accounts  

Compile, type, and file lists of new accounts  

Prepare forms for items such as signature cards, cashier checks, drafts and money orders  

Answer telephone inquiries relating to opening or closing of accounts  

Duplicate records for distribution to branch offices  

Tools, equipment, and work aids used may include:

OCCUPATIONAL SPECIALTIES

205.362-026 NEW ACCOUNTS CLERKS, sometimes known as new accounts tellers, interview prospective clients who want to open new checking or savings accounts. New Accounts Clerks also record data and keep related records of these accounts. The duties of New Accounts Clerks may be performed by tellers, customer service representatives, or assistant branch managers assigned the specialty of handling new accounts.

In addition to learning about these specialties, you may also find it helpful to explore the following MOIScripts:  

New Accounts Clerks work independently, but their work may be closely supervised. Those who perform teller duties may stand for long periods at teller windows. Others may have their own desks. New Accounts Clerks usually work in well lighted and well ventilated offices.  

They work in banks and other financial institutions from 35 to 40 hours per week, 8 hours per day in general. New Accounts Clerks may work at least one night a week and on Saturdays in some banks. Some may work part-time.  

You Should Prefer:

• Activities concerned with communication of ideas/information to  

others  

• Activities involving business contact with people  

• Activities of a routine, definite, organized nature  

You Should Be Able To:

• See detail/errors in numbers/spelling/punctuation in written  

materials  

• Follow instructions and reason and make judgments  

• Deal with people beyond giving and receiving instructions  

• Work within precise limits or standards of accuracy  

Math Problem You Should Be Able to Solve:

Your bank offers a choice between two different checking accounts. One has 1% interest and no annual charge, the other has 2% interest and a $25 annual charge. What would be the most profitable account for someone that has an annual average balance of $10,000?  

Reading Example You Should Be Able to Read and Comprehend:

Statement Savings Balance Requirements and regular monthly service charges are waived for minors. Minor accounts will be charged a fee for each non-Michigan money automatic teller machine transaction.  

Writing Example You Should Be Able to Produce:

You should be able to write a report that explains the specifics of different accounts that are offered by your bank.  

Thinking Skill You Should Be Able to Demonstrate:

You should be able to look at a customer's records and decide if they qualify to open an account with you. New Accounts Clerks handle large sums of money. Therefore, they must meet bonding standards.  

EDUCATION AND PREPARATION OPPORTUNITIES

NOTE: On-The-Job Training provided by the employer or a High School Diploma or Equivalent or a Certificate (program of up to one year of study beyond high school) may qualify a person for this occupation.

The following education and preparation opportunities are helpful in preparing for occupations in the MOIScript:  

***SCHOOL SUBJECTS***

0600 BUSINESS , 0700 CAREERS , 0900 COMMUNICATIONS , 1100 ECONOMICS , 2200 MATH , 3300 TECHNOLOGY

***VOCATIONAL EDUCATION PROGRAMS***

There are no Vocational Education Programs related to this MOIScript  

***POSTSECONDARY PROGRAMS***

018 BANKING & FINANCE

Programs in Banking and Finance are designed for those who want to work in financial institutions. Such programs are also useful to present employees who desire to upgrade their skills. Banks, savings and loan associations, credit unions, trust companies, credit agencies, and lending institutions are among potential employers.  

Courses vary from school to school and depend on the degree level of the program. Courses may include:  

138 GENERAL OFFICE CLERK TRAINING

Programs in General Office Clerk Training are designed for the  

individuals who wish to learn the basic clerical skills needed for employment in the various office settings. The programs will prepare students to perform such duties as duplicating data, compiling records and reports, tabulating and posting data in record books, sorting and filing correspondence and records, handling mail, and operating office machines.

Courses vary from school to school but may include:

  Search for a College and/or Instructional Program  

***APPRENTICESHIP OPPORTUNITIES***

There are no Apprenticeships related to this MOIScript    

***MILITARY TRAINING PROGRAMS***

There are no Military Programs related to this MOIScript    

E-Learning Courses and Programs  

OPPORTUNITIES FOR EXPERIENCE AND METHODS OF ENTRY

Many employers hire high school students for part-time and summer employment. These jobs may be as clerks or messengers, or in other   positions where individuals can observe the work of New Accounts Clerks and other bank personnel. Experience as a club treasurer helps students learn to handle money and to gain poise by working with people. Postsecondary banking and finance and general office clerk training programs may offer opportunities for experience also.  

           School-to-Work opportunities include:

informal apprenticeships  

mentorships  

job shadowing experiences  

touring a local New Accounts Clerk employer  

internships  

volunteer work with a New Accounts Clerk employer  

community service work with an agency  

Most New Accounts Clerk positions are filled by promotion after experience and knowledge are gained as a teller. To get a job as a New Accounts Clerk, apply directly to employers such as banks, credit unions, and savings and loan companies. Openings may be found through newspaper want ads. Assistance in finding a job may be obtained through your high school placement office, or a local office of Michigan Works!.  In addition, you should access and search the Internet's on-line employment services sites such as:    

Michigan Talent Bank ( http://www.michworks.org/mtb/user/MTB_EMPL.EntryMainPage )  

America's Job Bank ( http://www.ajb.dni.us )  

Classifieds Employment ( http://www.classifieds2000.com ) 

Yahoo! Careers ( http://careers.yahoo.com/ )    

Michigan Department of Career Development ( http://www.michigan.gov/mdcd )  

Michigan Works! ( http://www.michiganworks.org )    

You should also enter an electronic resume on these on-line services.

EARNINGS AND ADVANCEMENT

Earnings of New Accounts Clerks vary with the size of the bank, the geographic location, and the responsibility of the position.  

Nationally, New Accounts Representatives averaged $28,000 per year in early 2002, with most earning between $23,800 and $29,900.  Small banks tend to pay less than the average. The largest institutions pay more. The median yearly earnings of  "all" workers in the U.S. were $31,044 in 2001.In Michigan, the annual salaries in early 2002 of New Accounts Representatives were:    

Area	Average	Middle Range
Michigan	$28,200	$24,800 - $29,500
Detroit	$27,700	$26,200 - $30,900
Grand Rapids	$28,600	$25,600 - $29,300
Flint	$28,000	$25,000 - $30,500
Ann Arbor	$27,200	$24,800 - $30,100

The 2000 graduates of high school vocational education programs in Michigan who are working in jobs related to this occupation earned a beginning average of $16,910 per year in 2001.     

Depending on the employer, fringe benefits for New Accounts Clerks may include paid vacations, life and medical insurance, paid holidays, and a pension plan. These benefits are usually paid for, at least in part, by the employer. 

New Accounts Clerks often start as file clerks or clerk-typists. New employees are taught how to operate computer terminals and other machines. Most employers prefer to promote their own employees. Advancement is usually based on past job performance, seniority, ability, and general personal qualities. Some college experience or advanced bank training, offered by the American Institute of Banking (AIB), a division of the American Bankers Association (ABA), may be helpful for promotion to bank officers or management positions.  

EMPLOYMENT AND OUTLOOK

Nationally, there were 86,600 New Accounts Clerks employed in 2000. Employment is expected to grow more slowly than the average for all occupations through the year 2010. Cyclical swings in the economy have little immediate effect on the bank activities. The banking industry is undergoing change. As banks merge and consolidate operations, many jobs are often cut. Non-bank competitors like insurance companies, commercial credit firms, and brokerages have taken away much traditional business from banks.   The industry distribution for New Account Clerks looked like this:  

Approximately 2,775 New Accounts Clerks are employed in Michigan. All worked in the finance, insurance, and real estate industry for banks, savings and loan associations, credit unions, trust companies, and personal credit companies.

Employment of New Accounts Clerks in Michigan is expected to grow about as fast as the average for all occupations through the year 2008. An average of 130 openings is expected annually, with 40due to growth and 90due to replacement of workers who retire, die, or leave the labor force for other reasons. Additional openings will occur as workers transfer to other jobs or occupations.  

MICHIGAN'S AREA EMPLOYMENT OUTLOOK TO 2008    

EMPLOYMENT                                    NUMBER                        PERCENT                 PROJECTED YEARLY  REGION                                                EMPLOYED                   GROWTH                  JOB OPENINGS    

  Ann Arbor Area                                    105                                   32.4                          6  

  Battle Creek Area                                 30                                     34.5                          2  

  Benton Harbor Area                             100                                   19.4                          5  

  Central Michigan                                   35                                     22.2                         2  

  Detroit MSA                                        1,470                                17.1                          72  

  East Central Michigan                           20                                     9.5                            1  

  Flint Area                                            125                                    17.9                          6  

  Grand Rapids Area                              230                                    26.9                          13  

  Jackson Area                                       75                                     32.9                           4

  Kalamazoo Area                                 125                                  -1.6                              4  

  Lansing MSA                                     160                                    1.3                              5  

  Muskegon Area                                  35                                     14.3                             2  

  Northeast Lower Peninsula                  25                                    3.7                                1  

  Northwest Lower Peninsula                65                                    25.8                               4  

  Saginaw MSA                                    75                                    17.8                               3  

  Thumb Area                                       40                                    26.2                               2  

  Upper Peninsula                                 80                                    24.4                               5  

  West Central Michigan                      15                                    23.5                                1    

MSA designates a Metropolitan Statistical Area  

SOURCES OF ADDITIONAL INFORMATION

Printed Occupational information is available upon written request from the sources below.