Ask Terry Questions Recoup Value of an Old Retirement Certificate

Recoup Value of an Old Retirement Certificate

By Terry Savage on July 16, 2023 | Wild Card

Hello Terry, I have a very old (1985) retirement certificate from Lyons Savings and Loan Association. It has an account number and date of issuance printed on the front. I do know that this institution was acquired twice by two other backs. I have done some research already: I checked to see if there was anything in the Unclaimed Property area of the Illinois Treasurer’s Office and I went to the FDIC site and did a search there. Have any other suggestion as to where I should look? Or, should I just cut my losses and move on? Thanks!

Terry Says

If there is no unclaimed property listed at the Illinois Treasurer’s office, I think you can write this off. I have no idea what a “retirement certificate” is — and I remember the S&L crisis in which Lyons failed. It was a headline financial disaster. I think at the time they were selling uninsured “certificates” which would have no value today! (except maybe as a collectors’ item!)

In fact, you might want to read this article I found!



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