Medallion Signature Guarantee

  • What is a Medallion Signature Guarantee?

The Medallion Signature Guarantee is used for selling, redeeming or transferring securities, such as stocks, bonds or mutual funds.  The transfer agent requires the signature of the owner(s) of the securities to be "guaranteed" by a financial institution before they will act upon the transaction request.  The Medallion Signature Guarantee procedure is more complex than a notarized signature procedure.

Since Chicago Municipal Employees Credit Union accepts liability for any forgery, we are required to verify more information than is needed for a signature to be notarized.

  • Why do I need Medallion Signature Guarantee's?

One of the main purposes of the Signature Guarantee is to protect the securities owner(s) by preventing fraudulent transfers.  When Chicago Municipal Employees Credit Union processes a Signature Guarantee, we are not only verifying that your signature is genuine, but that you are the appropriate person to sign the request, and that you are acting within your legal capacity to sign the transaction request form.

  • What do I need to bring to the Credit Union if I need a Signature Guarantee?

In order to expedite the Medallion Signature Guarantee process, please bring the following:

  1. 2 forms of identification, one being an un-expired photo identification such as a drivers license or state issued ID card
  2. a document proving your ownership of the security you wish to sell, redeem, or transfer, such as a recent account statement
  3. verification of the approximate value of the securities involved
  4. in special cases, we may need other documents that demonstrate your legal capacity to act on the account (for example a will, power of attorney documents, trust documents, death certificate, small estate affidavit, etc.)
  5. all joint owners of the security, as they will also need to sign. The joint owners will also need to be present and to present two forms of identification

We have the ability to process signature guarantees on transactions up to $100,000.  If your transaction is larger than this, please contact the issuer of your security to request assistance in finding another local Signature Guarantor to handle your request.  To ensure prompt and accurate service, please call ahead and the our staff will fill you in on all details of what documents you will need and with whom you will meet when you arrive.