The first quarter CIRI Elders’ trust payment of $450 is scheduled for Friday, March 13, with the remaining 2015 Elders’ payments scheduled for June 12, Sept. 11 and Dec. 11. Original shareholders who are 65 years of age or older and who own at least one share of CIRI stock as of these dates are eligible to receive the $450 payments and do not need to do anything other than keep a current mailing address with CIRI Shareholder Relations.
For the March distribution, eligible Elders who have their CIRI dividends directly deposited will have their trust payments electronically transmitted to the same account by 6 p.m. Alaska Daylight Time on Friday, March 13. Eligible Elders who do not participate in direct deposit will have their payments mailed in check form on March 13. The deadline for signing up for direct deposit, changing an existing direct deposit instruction or updating an address for the March Elders’ Trust distribution is 3 p.m., Monday, March 2. To cancel direct deposit, please submit a signed, written request prior to 3 p.m. on March 5.
$500 QUARTERLY DIRECT DEPOSIT PRIZE DRAWING
Your mailing address and direct deposit instruction must be current to win!
Shareholders who participate in direct deposit are also eligible to participate in a $500 quarterly prize drawing this year. Random drawings will be conducted for the quarters ending March 31, June 30, Sept. 30 and Dec. 31. If CIRI has returned mail for the selected shareholder, another winner will be selected; otherwise, the winnings will be directly deposited to the bank account designated in CIRI’s records. If the deposited funds are rejected, another winner will be selected.
Why prizes? The new drawing aims to increase direct deposit participation, while encouraging shareholders to keep contact and direct deposit information current.
Shareholders whose CIRI distributions are directly deposited receive their payments on the same day checks are mailed to shareholders without direct deposit and receive a voucher showing the amount deposited. There is no chance of a check being stolen or lost in the mail, and no waiting in the line at the bank.
Unfortunately, every year, thousands of dollars in directly deposited funds are rejected by shareholder banks—usually because the shareholder’s bank account is closed. When funds are returned, Shareholder Relations is notified and begins the reissue process. Often, though, shareholders who fail to update their direct deposit information with CIRI also forget to keep their CIRI contact information current. If a shareholder cannot be contacted by phone, email or U.S. mail, the funds simply sit there waiting to be reissued and do not earn interest.
Not enrolled in direct deposit or need to change your direct deposit instruction? Complete and return a Direct Deposit Authorization form, along with a voided check or deposit slip from your checking or savings account with any bank, savings and loan or credit union. Download a direct deposit form at ciri.com or call (907) 263-5191 or (800) 764-2474.
IMPORTANT SHAREHOLDER REMINDERS
- CIRI’s IRS Forms 1099 will be mailed to shareholders no later than Jan. 31, 2015.
- The CIRI Board has approved the following payment dates for 2015: March 31, April 2, June 30, Sept. 30 and Dec. 9. Dividend amounts will be calculated shortly before the date of record for the 2015 first quarter dividend distribution, which generally falls within the last two weeks of March.
- Dividend and distribution amounts and information will continue to be announced on the dividend hotline (800-764-2435, 907-263-5100), CIRI website and in the Raven’s Circle newsletter.