On Thursday, May 21, 2009, BankUnited, FSB, Coral Gables, FL was
closed by the Office of Thrift Supervision (OTS) and
the Federal Deposit Insurance Corporation (FDIC)
was named Receiver. Subsequent
to the closure, BankUnited, a newly chartered federal savings bank, acquired
the assets and most of the liabilities of BankUnited, FSB from the FDIC as Receiver
for BankUnited, FSB. No advance notice is given to the
public when a financial institution is closed.
The FDIC has assembled useful information regarding your relationship with
this institution. Besides a checking
account, you may have Certificates of Deposit, a car loan, a business checking
account, a commercial loan, a Social Security direct deposit, and other relationships
with the institution. The FDIC has compiled the following information,
which should answer many of your questions.
The FDIC has issued a press release
(PR-072-2009) about
the institution's closure. If you represent a media outlet and would
like information about the closure, please contact
David Barr at 202-898-6992.
All deposit accounts, excluding certain brokered deposits, have been transferred
to BankUnited, Coral Gables, FL ("assuming
institution")
and will be available immediately. On Friday, May 22, 2009,
the former BankUnited, FSB locations will reopen as branches of
BankUnited.
Checks
that were drawn on BankUnited, FSB that did not
clear before the institution closed will be honored as long as there are
sufficient funds in the account. You may speak to an FDIC
representative regarding deposit insurance by calling: 1-800-451-1093 or visit EDIE the FDIC's Electronic Deposit
Insurance Estimator.
You may withdraw your funds from any transferred
account without an early withdrawal penalty until you enter into a new deposit
agreement with BankUnited as long as
the deposits are not pledged as collateral for loans.
The Automated Teller Machines (ATM) and online service will remain available.
As of Friday, May 22, 2009,
you may continue to use the services to which you previously had access,
such
as,
safe deposit boxes, night deposit boxes, wire services,
etc.
Your checks will be processed as usual. All outstanding checks
will be paid against your available balance(s) as if no change
had occurred. Your new bank will
contact you soon regarding any changes in the terms of your account. If
you have a problem with a merchant refusing to accept your check, please
contact your branch
office. An account representative will
clear up any confusion about the validity of your checks.
All interest accrued through Thursday, May 21, 2009, will
be paid at your same rate. BankUnited will
be reviewing rates and will provide further information soon. You
will be notified of any changes.
Your automatic direct deposit(s) and/or automatic withdrawal(s) will be
transferred automatically to your new bank. If
you have any questions or special requests, you may contact a representative
of your assuming institution at your
branch office.
All mortgages and loans have been assumed by BankUnited. The
terms of your loan will not change under the terms of the loan contract,
because they are contractually agreed to in your promissory note with the
failed institution. If you are having your payment deducted
from your account, it will continue as it has in the past.
Checks should be made payable as usual
and sent to the same address. If you have further questions regarding an existing loan,
please contact your loan officer.
For all questions regarding new loans and the lending policies of BankUnited, please contact your branch office.
If you or your company provided a service or product, leased space, furniture, or equipment to BankUnited after Friday May 22, 2009 and have not been paid you do not have a claim against
BankUnited. Please follow your normal billing procedures by providing an invoice as instructed.
Claims against failed financial institutions occur when bills sent to the
institution remain unpaid at the time of failure. If you or your company provided
a service or product, leased space, furniture, or equipment to BankUnited
prior to Friday May 22, 2009 and have not been paid you may be
entitled to a claim against the bank. If you provided a product to or a service for
BankUnited prior to the bank's failure for which you have not been
paid and you have not received communication,
contact:
The FDIC offers a reference guide to deposit brokers acting as agents for their investor clientele. This site
outlines the FDIC's policies and procedures that must be followed by deposit brokers when filing for pass-through insurance
coverage on custodial accounts deposited in a failed FDIC Insured Institution.
