Withdrawal Form

Endowment & Memorial Trust (“E&MT”) Instructions for Transactions

Effective April 1, 2008, the Endowment & Memorial Trust accounting transitioned to Union Bank of California .  The Diocesan accounting department works together with the E&MT Board of Trustees, Rick Harrison-Smith, Executive Director of the Episcopal Foundation of Northern California, and Union Bank to process all E&MT transactions.

Deposits

1)      Checks to purchase additional shares (or deposit funds) should be made out to Union Bank of California

2)      Send to the Diocese, Attention: Stephanie Moulton/ E&MT 

3)      An instruction letter should accompany the check and include the following information:

a.       Union Bank Account # (note that the account numbers begin with 6746025…)

b.      The fund for deposit (i.e. the Cash Fund, formerly the “C” Fund, the Bond Fund, formerly the “B” Fund, or the Balanced Fund, formerly the “A” fund). 

Following this process will ensure that your funds are allocated properly.  Once we receive your check and letter, a member of the E&MT Board of Trustees will sign off and we will forward to Union Bank.  This process typically takes about a week. 

Disbursements/ Withdrawals

1)      Complete the Endowment & Memorial Trust Fund Withdrawal Form on the website found at the top of this page.

a.       The Union Bank account # can be found on your monthly statement.  If you are not receiving a monthly statement from Union Bank, please contact Cassie Bangerter @ 916.442.6918 ext. 20.

b.      Circle the fund from which you want the funds to come from.  For example, if your church has one endowment fund that is invested in both the “C” Fund and the “A” Fund, circle either the Cash or Balanced fund or both.

c.       This form can be used to set-up a regular withdrawal.  For example, if you would like the quarterly interest earnings from the “C” Fund disbursed, instead of filling in an amount on the form, put “quarterly interest”. 

                                                              i.      You will receive a check each quarter based on the directive and will not have to complete another request for withdrawal.

d.      Submit the withdrawal form to the Diocese, Attention: Stephanie Moulton/ E&MT.

Following this process will ensure that your disbursements are processed timely and accurately.  Once we receive your withdrawal request form, a member of the E&MT Board of Trustees will sign off and we will forward to Union Bank.  It takes about a week for the Union Bank check to arrive once the statements have been produced.

Setting up New Accounts

Rick Harrison-Smith, will continue to handle the processing of new endowment accounts.  Please communicate your requests to him directly, as he provides the accounting department with the required information to get the account set-up with Union Bank.