Comments on: Help a Reader: CDs at a Defunct Bank

By: Eugene

Eugene — Sat, 07 Nov 2009 11:00:53 +0000

To whom it may concern:

I have an Aunt that passed away sometime ago and left several CD’s for her childrens. Who do I need to contact first to find out about these CD’s? I don’t where to start.

Regards,

Eugene

By: www geogle.com , janaya stephens . seasoft and alektra blue

www geogle.com , janaya stephens . seasoft and alektra blue — Mon, 22 Sep 2008 06:44:41 +0000

avmrf

By: stan

stan — Sat, 19 Jan 2008 22:00:04 +0000

when my C.U. went under they sent a check w/out doiong nething she may have alreaady been paid

By: Brandon

Brandon — Fri, 18 Jan 2008 14:28:53 +0000

I forgot to link it:
http://www.getrichslowly.org/b.....-property/

By: Brandon

Brandon — Fri, 18 Jan 2008 14:28:36 +0000

J.D. made a post about missing money on his blog. I would suggest looking through the links there. If nothing pops up, I’d try to get in touch with someone with the Federal Reserve to try to track down what happened to the bank.

By: Heidi

Heidi — Thu, 17 Jan 2008 19:51:01 +0000

I agree with all of the above: If the money was unclaimed, check your states unclaimed funds website.

But as Jeremy points out – Just because she found the actual certificate, does not mean the CD was still there when the bank went under. The maximum term for CDs at most banks is 60 months. Was the bank still in operation in 1989? More than likely she transfered it to another bank at maturity or cashed it out.

By: Jeremy

Jeremy — Thu, 17 Jan 2008 16:06:21 +0000

Are they sure CD was still in effect when the bank went under? The question doesn’t say, but what if it was a 20 year CD in 1984, it may have simply matured and gone into a savings or checking account in 2004. And I would be surprised if that is the case.

There are a lot of variables in this. Was the money still in the CD when the bank closed or was bought? It doesn’t say what the term was on the CD or whether it subsequently kept renewing, etc. When did this even take place?

Either way, if it was with the bank in some form, CD, savings, checking, etc then search FDIC. But it could be a case of the CD maturing over a decade or two ago, and the money had since been moved elsewhere and forgotten about.

By: Prince of Thrift

Prince of Thrift — Thu, 17 Jan 2008 15:49:43 +0000

to answer your question, check with the bank that bought the other bank out, but more then likely, your grandmother has money sitting in her state treasures office. So I would start there, she should contact the state treasures office.

———
nickel -
You have been tagged on my blog.

By: Meoip

Meoip — Thu, 17 Jan 2008 15:12:32 +0000

Seth has it right your best bet is the state’s unclaimed money website. You can also check the federal site at http://www2.fdic.gov/funds/index.asp

I would call a bank in the state or a government office instead of jumping on Google for the answer. The last thing you want to do is fall for some fishing website.

By: Seth

Seth — Thu, 17 Jan 2008 15:01:55 +0000

My state, Iowa, has a website you can go to to check for unclaimed money.

http://www.greatiowatreasurehunt.com/

I know that other states have this as well, so possibly the state where Tony’s grandma purchased the CD has one. That’s where I would start.