Help locating "lost" CD from decades ago?

3 years ago

Thu Jan 20, 2022 1:06 am

Birdman

Primer AuthorCo-Founder

Birdman has been gardening for over 2 years.

Level30 Last INQWednesday, March 2, 2022 Gardening For2 years, 6 months, 14 days, 13 hours, and 21 minutes Next Level in15 days, 10 hours, and 39 minutes on October 2nd INQ 1yr onThursday, March 2, 2023 INQ 1yr reached1 year, 6 months, 14 days, 13 hours, and 21 minutes ago INQ 2yr onSaturday, March 2, 2024 INQ 2yr reached6 months, 14 days, 13 hours, and 21 minutes ago

Sounds like you have the right steps.

3 years ago

Thu Jan 20, 2022 9:44 pm

BrutalBodyShots

Senior AdministratorGoodwill Saturation Technique Author

BrutalBodyShots has been gardening for over 2 years.
BrutalBodyShots has achieved the Garden Goal !!

Level27 Last INQMonday, May 23, 2022 Gardening For2 years, 3 months, 24 days, 13 hours, and 21 minutes Next Level in6 days, 10 hours, and 39 minutes on September 23rd INQ 1yr onTuesday, May 23, 2023 INQ 1yr reached1 year, 3 months, 24 days, 13 hours, and 21 minutes ago INQ 2yr onThursday, May 23, 2024 INQ 2yr reached3 months, 24 days, 13 hours, and 21 minutes ago Goal24 months Goal DateThursday, May 23, 2024 Goal Achieved3 months, 24 days, 13 hours, and 21 minutes ago

I recently reached out again to the bank that I believe may have acquired it. We'll see what sort of response I get / what kind of investigation they do. Last time it ended in a dead end.

If I'm not able with certainty to determine who acquired the CD, it's essentially impossible to pursue.

3 years ago

Fri Jan 21, 2022 3:01 pm

DustinD

Secured Rebel

DustinD has been gardening for over 2 years.

Level33 Last INQWednesday, December 1, 2021 Gardening For2 years, 9 months, 15 days, 13 hours, and 21 minutes Next Level in14 days, 10 hours, and 39 minutes on October 1st INQ 1yr onThursday, December 1, 2022 INQ 1yr reached1 year, 9 months, 15 days, 13 hours, and 21 minutes ago INQ 2yr onFriday, December 1, 2023 INQ 2yr reached9 months, 15 days, 13 hours, and 21 minutes ago

Can you do something along the lines of demanding the original bank hand over the money? If you have the paperwork/account names/receipts then it is your money that they are holding on to. If they don't want to pay you then they should have to prove to you who has it with paperwork.

3 years ago

Fri Jan 21, 2022 3:29 pm

Birdman

Primer AuthorCo-Founder

Birdman has been gardening for over 2 years.

Level30 Last INQWednesday, March 2, 2022 Gardening For2 years, 6 months, 14 days, 13 hours, and 21 minutes Next Level in15 days, 10 hours, and 39 minutes on October 2nd INQ 1yr onThursday, March 2, 2023 INQ 1yr reached1 year, 6 months, 14 days, 13 hours, and 21 minutes ago INQ 2yr onSaturday, March 2, 2024 INQ 2yr reached6 months, 14 days, 13 hours, and 21 minutes ago

You should be able to establish as a matter of course what bank assumed the assets of the prior one.

3 years ago

Sat Jan 22, 2022 12:46 am

BrutalBodyShots

Senior AdministratorGoodwill Saturation Technique Author

BrutalBodyShots has been gardening for over 2 years.
BrutalBodyShots has achieved the Garden Goal !!

Level27 Last INQMonday, May 23, 2022 Gardening For2 years, 3 months, 24 days, 13 hours, and 21 minutes Next Level in6 days, 10 hours, and 39 minutes on September 23rd INQ 1yr onTuesday, May 23, 2023 INQ 1yr reached1 year, 3 months, 24 days, 13 hours, and 21 minutes ago INQ 2yr onThursday, May 23, 2024 INQ 2yr reached3 months, 24 days, 13 hours, and 21 minutes ago Goal24 months Goal DateThursday, May 23, 2024 Goal Achieved3 months, 24 days, 13 hours, and 21 minutes ago

DustinD wrote: ↑Fri Jan 21, 2022 3:01 pm Can you do something along the lines of demanding the original bank hand over the money?

The original bank has been gone since 1990, so there's nothing there to go after. It's all about trying to figure out who acquired them, and presumably the CD account that I'm after.

3 years ago

Sat Jan 22, 2022 12:48 am

BrutalBodyShots

Senior AdministratorGoodwill Saturation Technique Author

BrutalBodyShots has been gardening for over 2 years.
BrutalBodyShots has achieved the Garden Goal !!

Level27 Last INQMonday, May 23, 2022 Gardening For2 years, 3 months, 24 days, 13 hours, and 21 minutes Next Level in6 days, 10 hours, and 39 minutes on September 23rd INQ 1yr onTuesday, May 23, 2023 INQ 1yr reached1 year, 3 months, 24 days, 13 hours, and 21 minutes ago INQ 2yr onThursday, May 23, 2024 INQ 2yr reached3 months, 24 days, 13 hours, and 21 minutes ago Goal24 months Goal DateThursday, May 23, 2024 Goal Achieved3 months, 24 days, 13 hours, and 21 minutes ago

Birdman wrote: ↑Fri Jan 21, 2022 3:29 pm You should be able to establish as a matter of course what bank assumed the assets of the prior one.

You would certainly think so, but it's proven to be much more difficult than that. My mother about 10 years ago spent a lot of time on this for me. She was retired and had a lot of time on her hands, I was working a lot and she said she'd work on locating it. I can't tell you how much time she invested in phone calls, letters, emails, etc. Since she was the one who purchased the CD she takes it somewhat personal that it has gotten lost over the years and that I never saw the payout.

3 years ago

Sat Jan 22, 2022 12:12 pm

Birdman

Primer AuthorCo-Founder

Birdman has been gardening for over 2 years.

Level30 Last INQWednesday, March 2, 2022 Gardening For2 years, 6 months, 14 days, 13 hours, and 21 minutes Next Level in15 days, 10 hours, and 39 minutes on October 2nd INQ 1yr onThursday, March 2, 2023 INQ 1yr reached1 year, 6 months, 14 days, 13 hours, and 21 minutes ago INQ 2yr onSaturday, March 2, 2024 INQ 2yr reached6 months, 14 days, 13 hours, and 21 minutes ago

There should be a trail to follow to determine who acquired the assets do you know what she did and what she did find out? You don’t want to repeat what she’s already done.

3 years ago

Sun Jan 23, 2022 3:38 am

BrutalBodyShots

Senior AdministratorGoodwill Saturation Technique Author

BrutalBodyShots has been gardening for over 2 years.
BrutalBodyShots has achieved the Garden Goal !!

Level27 Last INQMonday, May 23, 2022 Gardening For2 years, 3 months, 24 days, 13 hours, and 21 minutes Next Level in6 days, 10 hours, and 39 minutes on September 23rd INQ 1yr onTuesday, May 23, 2023 INQ 1yr reached1 year, 3 months, 24 days, 13 hours, and 21 minutes ago INQ 2yr onThursday, May 23, 2024 INQ 2yr reached3 months, 24 days, 13 hours, and 21 minutes ago Goal24 months Goal DateThursday, May 23, 2024 Goal Achieved3 months, 24 days, 13 hours, and 21 minutes ago

I've got a folder with printouts, notes from phone calls, emails, etc. I'll have to sit down one day and go through all of it to refresh my memory as it's been a while.

The root problem is still not knowing where it ended up. I remember she had stuff in the folder from probably 3-4 different FIs that "could" have been the one to acquire it... but of course none had it. I feel like it shouldn't be some guessing game and 3-4 to pick from... it should be 1 that we're 100% sure acquired the account.

3 years ago

Mon Jan 24, 2022 5:00 am

Birdman

Primer AuthorCo-Founder

Birdman has been gardening for over 2 years.

Level30 Last INQWednesday, March 2, 2022 Gardening For2 years, 6 months, 14 days, 13 hours, and 21 minutes Next Level in15 days, 10 hours, and 39 minutes on October 2nd INQ 1yr onThursday, March 2, 2023 INQ 1yr reached1 year, 6 months, 14 days, 13 hours, and 21 minutes ago INQ 2yr onSaturday, March 2, 2024 INQ 2yr reached6 months, 14 days, 13 hours, and 21 minutes ago

Normally I would agree and that may be correct, however when it dissolved, the assets could’ve been split among several institutions it just depends.

3 years ago

Mon Jan 24, 2022 7:33 am

BrutalBodyShots

Senior AdministratorGoodwill Saturation Technique Author

BrutalBodyShots has been gardening for over 2 years.
BrutalBodyShots has achieved the Garden Goal !!

Level27 Last INQMonday, May 23, 2022 Gardening For2 years, 3 months, 24 days, 13 hours, and 21 minutes Next Level in6 days, 10 hours, and 39 minutes on September 23rd INQ 1yr onTuesday, May 23, 2023 INQ 1yr reached1 year, 3 months, 24 days, 13 hours, and 21 minutes ago INQ 2yr onThursday, May 23, 2024 INQ 2yr reached3 months, 24 days, 13 hours, and 21 minutes ago Goal24 months Goal DateThursday, May 23, 2024 Goal Achieved3 months, 24 days, 13 hours, and 21 minutes ago

If we were just talking a couple hundred bucks I'd give it a rest, but my guess is this thing is worth at least $3500-$4000 and possibly more if it rolled over and collected interest for another decade (or longer).

3 years ago

Wed Jan 26, 2022 4:13 pm

BrutalBodyShots

Senior AdministratorGoodwill Saturation Technique Author

BrutalBodyShots has been gardening for over 2 years.
BrutalBodyShots has achieved the Garden Goal !!

Level27 Last INQMonday, May 23, 2022 Gardening For2 years, 3 months, 24 days, 13 hours, and 21 minutes Next Level in6 days, 10 hours, and 39 minutes on September 23rd INQ 1yr onTuesday, May 23, 2023 INQ 1yr reached1 year, 3 months, 24 days, 13 hours, and 21 minutes ago INQ 2yr onThursday, May 23, 2024 INQ 2yr reached3 months, 24 days, 13 hours, and 21 minutes ago Goal24 months Goal DateThursday, May 23, 2024 Goal Achieved3 months, 24 days, 13 hours, and 21 minutes ago

I shot an email off to the Town Historian through my local town website where I pay my taxes. I basically gave him the name of the bank in 1985 that the account originated at and asked if he either remembers or can look up in the town records what bank took over that branch location. While it doesn't necessarily have to be the bank that acquired the failing bank, it certainly could be. This could be a decent lead if this guy at the town is able to come through with some information.

3 years ago

Fri Jan 28, 2022 11:42 am

Birdman

Primer AuthorCo-Founder

Birdman has been gardening for over 2 years.

Level30 Last INQWednesday, March 2, 2022 Gardening For2 years, 6 months, 14 days, 13 hours, and 21 minutes Next Level in15 days, 10 hours, and 39 minutes on October 2nd INQ 1yr onThursday, March 2, 2023 INQ 1yr reached1 year, 6 months, 14 days, 13 hours, and 21 minutes ago INQ 2yr onSaturday, March 2, 2024 INQ 2yr reached6 months, 14 days, 13 hours, and 21 minutes ago

I hope you get a good response. I wish I knew where to point you to, I would expect public records from the dissolution may reveal where the assets went. You may have to search through the final order.

A year ago

Mon Aug 28, 2023 9:27 pm

ptatohed

Seasoned Rebel

Any luck Brutal? CDs are FDIC insured. Can you file an FDIC claim? https://www.fdic.gov/resources/resoluti ... solute.pdf

A year ago

Mon Aug 28, 2023 9:31 pm

BrutalBodyShots

Senior AdministratorGoodwill Saturation Technique Author

BrutalBodyShots has been gardening for over 2 years.
BrutalBodyShots has achieved the Garden Goal !!

Level27 Last INQMonday, May 23, 2022 Gardening For2 years, 3 months, 24 days, 13 hours, and 21 minutes Next Level in6 days, 10 hours, and 39 minutes on September 23rd INQ 1yr onTuesday, May 23, 2023 INQ 1yr reached1 year, 3 months, 24 days, 13 hours, and 21 minutes ago INQ 2yr onThursday, May 23, 2024 INQ 2yr reached3 months, 24 days, 13 hours, and 21 minutes ago Goal24 months Goal DateThursday, May 23, 2024 Goal Achieved3 months, 24 days, 13 hours, and 21 minutes ago

ptatohed wrote: ↑Mon Aug 28, 2023 9:27 pm Any luck Brutal? CDs are FDIC insured. Can you file an FDIC claim? https://www.fdic.gov/resources/resoluti ... solute.pdf

No luck. I'm not sure how I'd file a claim since I don't think I'd have complete information for it. I don't know how much the claim would be for as an example. The big one though is that I don't have any concrete idea of which FI ultimately acquired the CD (or I'd be hammering them for my money).

A year ago

Tue Sep 05, 2023 8:43 am

Dinosaur

Seasoned RebelDinosaur

Level5 Last INQMonday, April 8, 2024 Gardening For5 months, 8 days, 13 hours, and 21 minutes Next Level in21 days, 10 hours, and 39 minutes on October 8th INQ 1yr onTuesday, April 8, 2025 INQ 1yr in6 months, 22 days, 10 hours, and 39 minutes INQ 2yr onWednesday, April 8, 2026 INQ 2yr in1 year, 6 months, 22 days, 10 hours, and 39 minutes Goal24 months Goal DateWednesday, April 8, 2026 Goal In1 year, 6 months, 22 days, 10 hours, and 39 minutes

BrutalBodyShots wrote: ↑Tue Jan 18, 2022 3:20 pm I wrote about this on the other forum years ago and never made any progress, so I figured I'd post about it here too. So back in 1985 my mother got me a CD at a local bank. $1000 @ 10.84%. Maturity date was in 1995, where if it wasn't touched it would roll over for another term or whatever. I never touched it. The bank that it was purchased from went away in 1990, acquired by another bank. There seems to be massive confusion surrounding this, as I've spoken to the acquiring bank and it seems that the original bank wasn't completely scooped up by the acquiring bank, but rather regionally certain branches were etc. Long story short, I've been searching for this lost CD for easily 10-15 years now. I usually give up on it for a couple of years, then reach back out hoping that new employees may help me and that someone may be successful. I've searched for unclaimed funds in my name (and my mother's name) in all states in the event that whatever bank has it turned it over, but have never been able to find anything. For that reason my guess is that it still resides in a bank somewhere. If anyone has any advice surrounding this I'm all ears. Step 1 of course is to determine where it may have ended up through acquisitions/mergers and such... then Step 2 would be that entity telling me either A - They have it, or B - That they turned it over to unclaimed funds and if so when/where. That's my thought process anyway.

Food for possible consideration? In the state I live in some financial items get sent to the state who holds on to it for a period of time hoping to find the owner or vice versus. In Minnesota the following advice was offered: "How do I find unclaimed property in Minnesota? The Minnesota Department of Commerce participates with other states in a website which allows you to search for unclaimed property that may belong to you or your local government. To search for unclaimed property, please go to the Missing Money website at: https://www.missingmoney.com.Jun 11, 2021" ... Speaking for myself, I found over $6,141 in a 457K I forgot about and refunds of Capital Credits from an REA Electric Coop for $41 dollars. Note, that other people have reported finding monies in old bank accounts and the like. Maybe it would help you in your search? The one thing I do not know is how long the State of MN (or any other state) holds on to such items before keeping them???

Oh, ran across this website: Also look at www.unclaimed.org www.unclaimed.org is the website of the National Association of Unclaimed Property Administrators. Did further research and find abandonment of property/money ran from six months to ten years after a claim was filed. Suspect this is very state specific. Best of luck