Medallion Signature Guarantee Requirements
MEDALLION SIGNATURE GUARANTEE REQUIRMENTS
Members must have valid (non-expired) Government Issued Identification to obtain a Signature Guarantee
Each person requiring their signature to be guaranteed must be a member
? There must be an ongoing relationship between the member and the credit union in order to perform a signature guarantee
? Accounts must be in good standing
Proof of securities ownership (ALL owners must be present)
? Statement ? Actual stock certificate
Proof of value
? AFCU is limited to guarantee signatures for $1,000,000 or less per transaction
Verification of legal right to sign
? Death Certificate (court document showing appointment and authority) ? Trust Agreements ? Corporate Resolution ? Power of Attorney ? Additional documentation may be required
The Medallion Stamp CAN be used to guarantee an endorsement on transaction involving a change of ownership or a liquidation of the following items:
? Stocks ? Bonds ? Mutual Funds ? Savings Bonds ? Unit Investment Trusts ? Other investment vehicles that meet the definition of security
The Medallion Stamp CANNOT be used on transactions that do not involve the sale, transfer, redemption, or liquidation of securities such as:
? Savings Account Withdrawals ? Bank Account Closeouts ? Check Endorsements ? Auto Loan Applications ? Certificates of Deposit ? Amendments to Partnership Agreements ? Amendments to Trust Agreements ? Changes to Life Insurance Beneficiaries
? Changes to Pension Trust Beneficiaries ? Electronic Funds Transfer Enrollment Forms ? Treasury Direct Administrative Account Updates ? IRA's that do not contain Securities ? Copies of documents involved in a Security Transaction ? Guaranteeing or certifying maintenance or administrative
changes such as address, TIN updates, account number changes etc.
AFCU Form #77 03/17
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