Question and Answer Guide
Charter Bank, Santa Fe, NM
FDIC Call Center Toll free number 1-800-323-6111 Hours of Operation – Mountain Time Friday, January 22, 2010: Until 9:00 p.m. Saturday, January 23, 2010: 9:00 a.m. – 6:00 p.m. Sunday, January 24, 2010: Noon – 6:00 p.m. Thereafter: 8:00 a.m. – 8:00 p.m.
On Friday, January 22, 2010, Charter Bank, Santa Fe, NM, was closed by the Office of Thrift Supervision. The Federal Deposit Insurance Corporation (FDIC) was then named Receiver. Subsequent to the closure and to protect the depositors, the FDIC entered into a purchase and assumption agreement with Charter Bank, Albuquerque, NM, a newly-chartered federal savings bank and subsidiary of Beal Financial Corporation, Plano, TX. Charter Bank, Albuquerque, NM, acquired substantially all the deposits and assets of Charter Bank, Santa Fe, NM from the FDIC as Receiver for Charter Bank, Santa Fe, NM. Any claims by equity holders were not acquired.
The total balance in your account(s) has been transferred to Charter Bank, Albuquerque, NM and will be available for transactions during regular business hours on Monday, January 25, 2010 at the former Charter Bank, Santa Fe, NM branches.
You may continue to use your same checks, ATM cards and debit cards until notified.
All Direct Deposits, including Social Security checks, will continue as usual.
Account(s): What about my account with Charter Bank?
If you had an account with Charter Bank, Santa Fe, NM, you now have an account with Charter Bank, Albuquerque, NM. All deposit accounts, which include checking, savings, money market, CDs and retirement accounts, have been transferred to Charter Bank, Albuquerque, NM, regardless of the dollar amount. No one lost any money on deposit in Charter Bank.
To forewarn you of any scams, please be advised that you will not receive any e-mail notification from the FDIC, the Receiver, or Charter Bank, Albuquerque, NM to provide any private information. Please be watchful for and resist any such scams to obtain information from you by individuals or entities purporting to act on behalf of Charter Bank, Santa Fe, NM, the FDIC or Charter Bank, Albuquerque, NM.
ATM/debit card and/or Billpay: What about my ATM/debit card and/or bill paying with Charter Bank?
Your ATM/debit card will continue to work, and bill paying will work as it has in the past.
Brokered Deposits: I am a deposit broker or have brokered deposits. What do I do?
As an All-Deposit Transfer transaction, the total of all deposit accounts, excluding the Cede & Co. brokered deposits, have been assumed by Charter Bank, Albuquerque, NM. The FDIC retained the Cede & Co. brokered deposits and will pay those accounts off directly.
Be advised, however, that from and after the date of closing, Charter Bank, Albuquerque, NM will accrue and pay interest on deposit liabilities at a rate it shall determine; accordingly, Charter Bank, Albuquerque, NM shall permit depositors, including brokered depositors, impacted by reduced rates to withdraw their deposits without penalty for early withdrawal.
If you are a customer who has a Charter Bank, Santa Fe, NM deposit through a broker, you must contact your broker with any questions.
Direct Deposits - Government Deposits: What will happen to my direct deposits?
Direct Deposits, including Social Security checks, will continue as normal.
Interest Rates, Early Withdrawal Penalty: Will I continue to earn interest at the same rate? Will I be charged an early withdrawal penalty?
Interest on all deposits accrued through Friday, January 22, 2010, will be paid at your same rate. Charter Bank, Albuquerque, NM will review rates and notify you if interest rates will change. Your interest rate may be reduced.
You may withdraw funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with your new bank. Entering into a new deposit agreement can be done by either renewing your CD or making a deposit to or a withdrawal from your account.
Loans/mortgages: What about my loan or mortgage with Charter Bank, Santa Fe, NM?
All mortgages and loans have been assumed by Charter Bank, Albuquerque, NM. Your payment amount and due date are the same. If you are having your payment deducted from your account, it will continue as it has in the past. You should continue to make your checks payable to Charter Bank, Santa Fe, NM and send your payments to the same address.
Loans in Process: What happens if I had a loan in process that had not closed or a line of credit not fully funded?
You should contact your loan officer. All prior contacts remain the same.
Media: I represent a TV/Newspaper/Radio and would like some information.
Please contact the Office of Public Affairs:
Outstanding Checks: What about checks that I have written on my account with Charter Bank, Santa Fe, NM?
Your checks will clear up to the available balance in your account. You can continue to use your existing checks.
Safe Deposit Boxes: How can I claim the contents of my safe deposit box?
It is business as usual. You can go to your local branch and access your safe deposit box; however, no action on your part is required because of this transaction.
Shareholders: What about my shares of stock?
All shares of Charter Bank, Santa Fe, NM were owned by its holding company, Charter Companies, Inc., Santa Fe, NM. The holding company was not included in the closing of the bank or the resulting receivership. If you are a shareholder of Charter Companies, Inc., please do not contact or file a claim with the Receiver. You may contact Charter Companies, Inc. directly for information as follows:
Charter Companies, Inc.
2130 Eubank Boulevard N.E.
Albuquerque, NM 87112
Transaction Types: Why do all deposits, insured or not, pass in some transactions but not in others?
The FDIC is required by law to employ the least-cost resolution measure for each failed financial institution. The most frequent result had been for the FDIC to transfer only the insured deposits in a Purchase and Assumption transaction; however, the temporary increase in the deposit insurance limit has assisted in the transfer of all deposits more often in the past year.
Unpaid Bills: I did some work for the bank and have not been paid. What should I do?
All claims against Charter Bank, Santa Fe, NM together with proof of the claims, must be submitted in writing to the Receiver at the following address:
FDIC as Receiver for Charter Bank, Santa Fe, NM
1601 N. Bryan Street
Dallas, TX 75201-3430
Attention: Claims Agent
SCAMS: Be watchful for and resistant to any scams to obtain information from you by individuals or entities stating that they are acting on behalf of either the failed bank, new bank, or the FDIC. Should you be contacted by anyone requesting personal information from you related to this event, please contact the call center above and you will be directed to the appropriate person.
For more information: www.fdic.gov/bank/individual/failed/charter-mn.html