FDIC Insured Failed Banks: Washington Mutual - Claim Your Savings Account, CD or Safe Deposit Box

	September 25, 2008: Washington Mutual, Inc - Washington Mutual Bank, Henderson, NV and Washington Mutual Bank, FSB, Park City, UT - were sold in a transaction facilitated by the Office of Thrift Supervision and the Federal Deposit Insurance Corporation. They banks had combined assets of $307 billion and total deposits of $188 billion. JPMorgan Chase made a payment of $1.9 billion to acquire the assets and some liabilities, including covered bonds and other secured debt. Claims by equity, subordinated and senior debt holders were not acquired. All former Washington Mutual Bank reopened as branches of JPMorgan Chase Bank, and all deposit accounts and all loans have been transferred to JPMorgan Chase Bank. Transferred deposits will be separately insured from any accounts you may already have at JPMorgan Chase Bank for six months after the sale of Washington Mutual Bank. J P Morgan Chase Bank, NA P O Box 36520 Louisville, KY 40233-6520 800-935-9935 or 800-788-7000 www.chase.com https://www.wamu.com/personal/default.asp All depositors are fully protected and there will be no cost to the Deposit Insurance Fund. For additional information and assistance contact the FDIC at: 877-275-3342 or go to: http://www.fdic.gov/bank/individual/failed/wamu.html
2008 FDIC Insured Failed Banks




Washington Mutual Bank 2273 North Green Valley Parkway Henderson, NV 89014 http://www.wamu.com

Established in 1988 as American Savings Bank, FA

Assets: $307 million
Deposits: $188 million

Cost to FDIC: $0

Transferred deposits: Transferred deposits will be separately insured from any accounts you may already have at JPMorgan Chase Bank for six months after the sale of Washington Mutual Bank.

Interest: All interest accrued through Thursday, September 25, 2008, will be paid at your same rate. JPMorgan Chase Bank will be reviewing rates and will provide further information soon. You will be notified of any changes.

Withdrawals: Account owners may withdraw your funds from any transferred account without an early withdrawal penalty until a new deposit agreement is signed with either The Citizens Savings Bank or Pioneer Community Bank, Inc., as long as the deposits are not pledged as collateral for loans.

Checks: Checks will be processed as usual. All outstanding checks will be paid against your available balance as if no change had occurred. Your new bank will contact you soon regarding any changes in the terms of your account. If you have a problem with a merchant refusing to accept your check, contact your branch office.

Services: The Automated Teller Machines (ATM) and on line services will remain available. You may continue to use other services to which you previously had access, including safe deposit boxes, night deposit boxes, wire services, etc, as normally available at each branch.

Automatic Direct Deposits: Automatic direct deposits and/or automatic withdrawals will be transferred automatically to your new bank. Contact a representative of your assuming institution at your branch office.

Loans: If you had a loan with Washington Mutual Bank, you should continue to make your payments as usual. The terms of your loan will not change. Checks should be made payable as usual and sent to the same address until you notice.

Creditor Claims: The closure and the receivership do not affect the claims by equity, debt holders or other creditors of Washington Mutual, Inc., the holding company for Washington Mutual Bank. Claims by preferred stockholders, subordinated debt holders, and unsecured senior debt holders of Washington Mutual Bank were not acquired. These claims, together with proof of the claims, must be submitted in writing to the Receiver:

FDIC as Receiver of Washington Mutual Bank
1601 Bryan Street
Dallas, TX 75201
Attention: Claims Agent

Note: Under 12 U.S.C. § 1821(d)(11), claims by equity and subordinated debt holders are subordinated to claims by general creditors of the institution. At this time, the FDIC as Receiver for Washington Mutual Bank does not anticipate that equity and subordinated debt holders will receive any recovery on their claims

Consumer Alert

Unclaimed FDIC Insured Deposits

Note: There are time limits on claims of FDIC-insured bank accounts, CDs and safe deposit boxes ...

If an insured depositor fails to make a claim an insured or transferred deposit within 18 months after the FDIC initiates the payment of insured deposits, the transferee institution must refund the deposit to the FDIC, and all rights of the depositor against the transferee institution are barred.

The FDIC then remits the insured deposit to the custody of the unclaimed property administrator in the account owner's home state, unless that state declines to accept custody. Upon delivery, the FDIC is deemed to have made payment to the depositor, and all rights of the depositor against the FDIC are barred.

Most states allow claims in perpetuity, but there's a reversion clause. If a depositor does not claim the deposit delivered to the custody of the State within 10 years of the date of delivery, the deposit must then immediately be refunded to FDIC, and all rights of the depositor against the state are barred.

It's important to note that If a state declines to accept custody of the deposit - which they sometimes do - the depositor must claim the funds from the FDIC before the receivership is terminated, or all rights of the depositor with respect to the deposit are barred. Dividends for credits arising from uninsured portions of a deposit may, however, be claimed after the receivership is terminated if a dividend check was returned by the post office for a bad address.

Be aware that due to the number of mergers and acquisitions in the banking industry over the years, it is possible you or a deceased family member might well have an account at a failed bank and not know it. Additionally, unclaimed safe deposit boxes at closed branches may be drilled and the contents sold at auction just weeks after closing, so prompt action is advised. For assistance go to: Unclaimed Account Search

History: Established in 1988 as American Savings Bank, FA

1991 Acquired American Savings Bank, F.S.B
1991 Acquired Columbia Savings And Loan Association, F.A.
1992 Acquired Far West Savings And Loan Association, F.A.
1992 Acquired Valley Federal Savings And Loan Association

1994 Acquired Encino Savings Bank, FSB as part of a government assisted transaction.
1997 Changed name to Washington Mutual Bank, FA
1997 Acquired Great Western Bank, A FSB
1998 Acquired Home Savings Of America, FSB

2001 Acquired Bank United
2002 Acquired The Dime Savings Bank Of New York, FSB
2005 Acquired Washington Mutual Bank
2005 Changed name to Washington Mutual Bank
2005 Acquired Providian National Bank
2006 Reorganized.
2006 Acquired Commercial Capital Bank, FSB

2008 Merged with government financial assistance and subsequently operated as part of JPMorgan Chase Bank, National Association