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Honored Contributor
Posts: 10,619
Registered: ‎03-09-2010

Any ideas how to locate "lost CD from closed bank" over 34 yrs old (Long)

I am stumped so wondering if any posters are in the banking/finance area to give some insight. 

 

My son was given at birth a $1,000 certificate of deposit bond, christening $500 cd bond and $100 cd bond every bday to 10 years old. These were issued thru a NJ bank which was bought out and closed. I can't seem to locate who purchased them or any info (except the building was turned into Sec.8 housing).

 

I've had my son search the sites for "unclaimed funds" for both government & state of NJ. Both come up zilch.

 

unfortunately, the person who gave these to him is no longer alive. i do not have any info about his family, etc.

 

Heres my ? - is there any other way to "find" these bonds or where to start. I'm even thinking since he was a baby they could have been bought as "in trust" using the gifter SS #.

 

My son is in the process of buying a home and this would be a nice little nest egg I think considering the interest was about 10% if I remember correctly (1982) and I can't recall the maturity date.

 

I do recall I gave the bonds to the person who gave them to him in early 2000 as I came across the envelope with them inside.  He said since he still banked there (although new name) he would research about value, etc.

 

Life moved ahead & I completely forgot about them.

 

I was going thru some old pics/stuff and found empty envelope from the bank (no info envelope just has his name, value & bank name).

 

My son said in the "era before digital technology" anything could have happened to them & banking regulations were not as sophisticated.  He doesn't have much faith in locating them🙄

And if this man cashed him I'd like to know. Just curious. 

 

Thank you posters you are always a good starting point. 

Honored Contributor
Posts: 16,833
Registered: ‎03-09-2010

Re: Any ideas how to locate "lost CD from closed bank" over 34 yrs old (Long)

[ Edited ]

If they were US savings bonds and you have the bond numbers you can check their value on this site: https://www.treasurydirect.gov/indiv/tools/tools_savingsbondcalc_instructions.htm

 

CD from a bank you may have to contact in NJ the appropriate agency. Did deceased have any descendants? You might ask them if they were among his/her personal belongings. Check Facebook for descendants?

☼The best place to seek God is in a garden. You can dig for him there. GBShaw☼
Respected Contributor
Posts: 4,341
Registered: ‎04-19-2010

Re: Any ideas how to locate "lost CD from closed bank" over 34 yrs old (Long)

Maybe check your state's banking agency?  They might be able to tell you which bank(s) absorbed the original bank and then you can go from there.


-- pro-aging --


Rochester, New York
Respected Contributor
Posts: 3,921
Registered: ‎08-08-2011

Re: Any ideas how to locate "lost CD from closed bank" over 34 yrs old (Long)

Another idea is to maybe call the FDIC. They have a consumer's hotline. 

Honored Contributor
Posts: 23,440
Registered: ‎05-10-2010

Re: Any ideas how to locate "lost CD from closed bank" over 34 yrs old (Long)

Since you don't even have the bonds or cd's now, how could you cash them in even if you could find the bank????  I'm sure that you would need the actual bonds and not just the name of the person who gave them to you.  My bank has merged with 3 or 4 different banks over the 30 years that I have been with them.  The name has changed and changed and changed but I doubt that they would be able to healp someone who showed up with a story like yours and nothing to support it.  I think your son is right, there would be no record of this.  It might be different if you had the document, the CD itself.  If the original bank merged with another bank, the state banking commission would know and if you presented the CD, I imagine they would have to honor it.  But...you have nothing but a story.  

Honored Contributor
Posts: 16,833
Registered: ‎03-09-2010

Re: Any ideas how to locate "lost CD from closed bank" over 34 yrs old (Long)

Wouldn't bank CDs get a 1099 from a bank? But again it would be on this person's tax return possibly. You need to try and locate descendant or executor of their estate. Also take into account maybe statue of limitations as to what an executor can do too.

☼The best place to seek God is in a garden. You can dig for him there. GBShaw☼
Honored Contributor
Posts: 14,355
Registered: ‎07-26-2014

Re: Any ideas how to locate "lost CD from closed bank" over 34 yrs old (Long)

Find a Lost Bank Savings Account, Unclaimed Checking Account or Missing CD

"Never argue with a fool. Onlookers may not be able to tell the difference."


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Respected Contributor
Posts: 4,091
Registered: ‎03-09-2010

Re: Any ideas how to locate "lost CD from closed bank" over 34 yrs old (Long)

I am at a loss to understand why these CD's were never physically in your or your son's posession since they were gifts.

 

If the purchaser kept them in his/her physical posession all these years, I would expect they would become part of his estate.  If he/she died intestate, who inherited the estate?

 

Without a copy of the CD numbers or identifying information, I don't know how you or your son could possibly retrieve them.  Was his name on the CD's?

~The only difference between this place and the Titanic is that the Titanic had a band.~
Honored Contributor
Posts: 10,619
Registered: ‎03-09-2010

Re: Any ideas how to locate "lost CD from closed bank" over 34 yrs old (Long)


@Chrystaltree wrote:

Since you don't even have the bonds or cd's now, how could you cash them in even if you could find the bank????  I'm sure that you would need the actual bonds and not just the name of the person who gave them to you.  My bank has merged with 3 or 4 different banks over the 30 years that I have been with them.  The name has changed and changed and changed but I doubt that they would be able to healp someone who showed up with a story like yours and nothing to support it.  I think your son is right, there would be no record of this.  It might be different if you had the document, the CD itself.  If the original bank merged with another bank, the state banking commission would know and if you presented the CD, I imagine they would have to honor it.  But...you have nothing but a story.  


@Chrystaltree

 

Normally I would just take your reply with "a grain of salt" as they say BUT I take exception that you state "you just have a story" like who would believe you! 

 

First, I do not sit around and think up stories! And I'm certain I'm not the first person in this lifetime to have this situation & I feel if we could find the "right" individual/section of the bank it would be addressed properly.

 

The purpose of my post was to get some input from those who may have had a similar situation.

 

That being said - the envelope HAS ALL pertinent information including CD #s , date of purchase, amounts &  ITF information (except ss#).

 

About 10 years ago, I received a certified letter from a bank that my father banked with when we were kids.  Apparently, the bank changed many times & the auditors found "unclaimed funds" - they took the time to find me -- and I'm thankful they did as it was a nice check. Of course, I had to send them the necessary documentation -- 

 

I will do as the other posters who gave me ideas (who didn't declare this just a story).  

 

Yes, I realize this is unusual situation but I'm going to see if there is any record of these documents.

 

 

Esteemed Contributor
Posts: 6,762
Registered: ‎05-29-2015

Re: Any ideas how to locate "lost CD from closed bank" over 34 yrs old (Long)

"...Life moved ahead & I completely forgot about them...."

 

Opps!

Woman Surprised

 

 

~~~ I call dibs on the popcorn concession!! ~~~