Frequently Asked Questions

Q – How do I contribute to my IRA? HSA?

A – Things to include on the check: make payable to “Covenant Trust Company, Custodian.” Put account number and tax year in memo line. If these don’t fit on memo line, write name, account number, and tax year on a separate sheet of paper and include with the check. Mail check directly to our bank lockbox: 6017 Eagle Way, Chicago, Illinois, 60678-1060.

Q – How do I redeem a five-year certificate?

A – Locate the original certificate and sign it on the back. In order to request redemption, write a letter of instruction or use the maturity notice you received three to four weeks before the maturity date of your certificate. If you would like the funds transferred directly to your bank account, include a voided check. Mail all of the above to us at our main office address on Higgins Road.

If this is an early redemption, please also include a letter explaining your situation. We typically allow early redemptions only in the case of an unexpected financial emergency. Otherwise, we ask our investors to honor the five-year term.

Q – How do I redeem a variable certificate?

A – Locate the original certificate and sign it on the back. In order to request redemption, write a letter of instruction. If you would like the funds transferred directly to your bank account, include a voided check. Mail all of the above to us at our main office address on Higgins Road.

Q – How do I reissue a certificate?

A – To change the type of certificate (example: from a variable to a five-year):
        a) Locate the original certificate.
        b) Write a letter of instruction.
        c) Complete a new certificate application to indicate your preferences for the reissued investment.
        d) Mail all of the above to us at our main office address on Higgins Road.

To change the owner of the certificate (example: from mother to daughter):
        a) Locate the original certificate.
        b) Write a letter of instruction.
        c) Complete a new certificate application to demonstrate who the new owner should be.
        d) Mail all of the above to us at our main office address on Higgins Road.

Q – How do I add or remove a joint owner of my certificates?

A – To add a joint owner:
        a) Locate the original certificate.
        b) Have the new joint owner(s) complete a W-9 form, which lists their name, address, and SSN.
        c) Write a letter of instruction.
        d) Mail all of the above to us at our main office address on Higgins Road.

To remove a joint owner if you are the primary owner on the account (which means the interest income reports to your SSN):
        a) Locate the original certificate.
        b) Write a letter of instruction.
        c) Mail these to us at our main office address on Higgins Road.

To remove a joint owner if you are NOT the primary owner on the account:
        a) Locate the original certificate.
        b) Complete a new certificate application to demonstrate how the certificate should be recorded.
        c) Write a letter of instruction.
        d) Mail all of the above to us at our main office address on Higgins Road.

Q – What’s the difference between all of your addresses?

A – Eagle Way is our bank lockbox for IRA and HSA investments.
Higgins is our main office.
Francisco is our old office