What is the difference between a Notary Public notarization and a Medallion Signature Guarantee?
Notarization by a Notary Public is an assurance made by a Notary Public that a signature is valid. A Notary Public is a public officer who witnesses and certifies the authenticity of signatures by confirming the identity of the signer, ensuring they are not signing under duress, and that they intend the terms of the document to be in full force and effect. They also may administer oaths and affirmations when needed and make certified copies of certain unrecorded original documents. The Notary Public serves as an impartial witness to a transaction on legal documents, which may include (but are not limited to) real estate deeds, powers of attorney, affidavits and loan documents. Notaries are available at all Delta Community branch locations. The first 12 items notarized in a calendar year are free of charge for our members, shared branch members and non-members. After 12 items, there is a fee of $4.00 per item. Any page that requires a notary’s seal counts as an item. Please note that we are unable to notarize federal I-9 Employment Eligibility Verification forms or wills and trusts, including certificates of trust and trust certifications.
A Medallion Signature Guarantee Stamp is used only in situations involving the sale or transfer of securities. A Medallion Guarantor bears financial liability should the signature prove to be fraudulent. The Medallion Signature Guarantee Stamp is available at all Delta Community branch locations. Requests for a Medallion Signature Guarantee Stamp require 3-5 business days to review. Copies of all documents to be stamped will be submitted to Delta Community Credit Union, and you will retain your original documentation. Review the Medallion Stamp Member Checklist to access a form that will assist you with the preparation of documents requiring a Medallion Signature Guarantee.
The first 5 requests for a Medallion Signature Guarantee Stamp in a calendar year are free of charge for our members. After 5 requests, there is a fee of $25.00 per request. Medallion Signature Guarantee Stamp requests are not available to shared branch members and non-members
Note: The Signature Validation Program (SVP) is a different program and is not available through Delta Community Credit Union. For more information about the SVP, go to http://www.svprogram.com/.
Is Delta Community a member of the Medallion Signature Guarantee Stamp Program with the U.S. Securities and Exchange Commission (SEC)?
Yes, Delta Community participates in the Securities Transfer Agents Medallion Program (STAMP) administered by Kemark Financial Services, Inc., when assisting members with Medallion Signature Guarantee stamp requests. The STAMP program is one of three programs accepted by the SEC. At this time, this service is not available for business entities.
On what documents can Delta Community provide a Medallion Signature Guarantee Stamp?
Delta Community Credit Union can provide a Medallion Signature Guarantee Stamp on acceptable transactions to guarantee an endorsement that authorizes the sale, transfer, or redemption of a security of up to $500,000. Examples include mutual fund liquidation request, transfer or sale of shares of stock and U.S. savings bond redemption. At this time, this service is not available for business entities.
Examples of potentially acceptable transactions include:
- Stocks
- Bonds
- Mutual funds
- Savings bonds (or any governmental debt obligation)
- Unit investment trusts
- Other investment vehicles that meet the definition of a security
Note: A request to change the name shown on a security is considered a change in ownership and is a proper use of the Medallion Stamp.
What documents will Delta Community not guarantee?
Delta Community does not provide Medallion Signature Guarantee Stamp services for guaranteeing or certifying routine administrative changes such as address or federal Tax Identification Number (TIN) updates, account number changes, adding a bank account, wire transfers, and other account maintenance actions. Examples include: 401(k) enrollment forms, term life insurance policies, tax returns, mortgage, or car loan documents. Medallions cannot be provided when transferring funds from one insurance product to another insurance product. For example, a 1035 exchange from a fixed annuity to a fixed indexed annuity cannot receive a Medallion Signature Guarantee stamp from Delta Community.
Examples of transactions that do not involve the sale, transfer, redemption, or liquidation of securities or that otherwise will not be guaranteed by Delta Community include:
- Requests from business entities (corporations, LLCs, partnerships, and other business types)
- Savings account withdrawals
- Bank account close-outs
- Check endorsements
- Home equity loan applications
- Auto loan applications
- Certificates of deposit
- Amendments to partnership or trust agreements
- Changes to life insurance or pension trust beneficiaries
- Electronic funds transfer enrollment forms
- TreasuryDirect® administrative account updates
- Copies of documents not involved in a security transaction
- Individual Retirement Accounts that do not contain securities
- Guaranteeing or certifying maintenance or administrative changes, such as address or TIN updates, account number changes and other modifications
- Forms with whiteout text change material on original forms will not be accepted
