FUNDS UPDATE - EFFECTIVE IMMEDIATELY
To all TEP Trusts Beneficiaries, DIT Fund Holders and PEMS Participants:
As the coronavirus situation continues to evolve, we will be changing our approach to processing payments and deposits made by paper checks and mailed instructions. We are required to transition from processing payments and deposits made by paper checks and mail to processing transactions electronically via ACH transfer (Direct Deposit) and emailed instruction to ensure no disruptions to service.
Please be advised Effective Immediately all Trust income distributions, DIT cash dividends, redemption and subscription requests are to be processed electronically only as follows:
- All Trust Income Recipients are requested to scan and email directly to this email address a copy of a voided Church or Organizational Check as soon as possible.
- All requests for Redemptions and Subscriptions (use linked forms) are required to be scanned and emailed directly to this email address no later than the last business day of each month.
- Instructions for Setting Up Electronic Transfers
Effective immediately our custodian Fiduciary Trust International will begin processing all deposits and payments electronically via ACH transfer to ensure no disruptions to service.
Subscription (Use Linked Form) proceeds to the DIT Fund and PEMS please instruct your bank to send the funds via Direct Deposit (ACH), please provide them with the following:Bank name: Fiduciary Trust Company International
Fiduciary Trust ABA number: 026007922 n/o FTCI at UMB
A/C# 440333334 DIT Disb Account
DIT A/C # ____________A/C Name____________
Attn: Carmine McGowan (212) 632-3068
Redemption (Use Linked Form) requests from the DIT Fund and PEMS will require Direct Deposit (ACH) Instructions, please provide us with the following
(or send a copy of a voided check with redemption form):
Receiving bank name
Bank ABA number
Payee account number
Payee account name
If you have any questions please do not hesitate to contact me at any time.
Thank you for all of your co-operation it is truly appreciated during this trying time.
for proceeds to the DIT Fund and PEMS please instruct your bank to send the funds via Direct Deposit (ACH)
for requests from the DIT Fund and PEMS will require Direct Deposit (ACH) Instructions