If you are looking for information regarding Crestar Bank, you are likely trying to track down an old account, verify a past loan, or settle an estate. Crestar Bank was once a prominent financial institution serving the Mid-Atlantic region, particularly in Virginia, Maryland, and Washington, D.C.
Because the banking industry has undergone significant consolidation over the last few decades, Crestar Bank no longer operates under its original name. To access your funds or records today, you must navigate through a series of mergers that eventually led to the creation of one of the largest banks in the United States.
The Evolution of Crestar Bank
Crestar Bank had deep roots in the Virginia area, originally operating as United Virginia Bank before changing its name to Crestar in 1987. It grew to become a major regional player before it was targeted for acquisition by larger national entities.
In 1998, Crestar Financial Corporation was acquired by SunTrust Banks, Inc. This transition shifted all Crestar accounts, branches, and assets over to the SunTrust brand. For over twenty years, SunTrust was the primary successor for any legacy Crestar business.
The Move to Truist Financial
The landscape changed again in December 2019 when SunTrust Banks merged with BB&T (Branch Banking and Trust Company). This massive merger resulted in the formation of a new entity: Truist Financial Corporation.
Today, Truist is the legal successor to all former Crestar Bank accounts. If you have an old Crestar checkbook, a safe deposit box key, or a decades-old savings passbook, Truist is the institution you need to contact to resolve your inquiries.
How to Find Your Old Accounts
Finding information on an account that has been dormant for many years can be a challenge, but it is not impossible. Banks are required to maintain records, though the format of those records may change as systems are upgraded during mergers.
To begin your search, you should gather any physical documentation you still possess. This includes old statements, account numbers, or even correspondence from the bank during the SunTrust era.
Contacting the Successor Bank
Since Truist now manages all legacy Crestar accounts, your first step should be reaching out to their customer service department. You can visit a local Truist branch in person or call their support line.
- Provide Identification: You will need your Social Security number or the Taxpayer Identification Number associated with the account.
- Reference the Branch: If you remember the specific city or street where the original Crestar branch was located, provide that information to the representative.
- Check for Name Changes: If the account was opened under a maiden name or a business name that has since changed, ensure you have documentation to prove the connection.
What if the Account is Closed?
If the bank cannot find your account in their active system, it does not necessarily mean the money is gone. When bank accounts remain inactive for a specific period of time (usually three to five years depending on the state), the law requires the bank to turn the funds over to the state government.
This process is known as escheatment. The state holds these funds in an unclaimed property fund until the rightful owner or their heirs claim them.
Searching Unclaimed Property Databases
If Truist has no record of your account, your next step is to search the unclaimed property database for the state where the account was originally opened. Most people start with the Virginia Department of the Treasury if they dealt with Crestar in its home state.
- Visit the official website of the State Treasurer for the relevant state.
- Search for the name of the account holder.
- Check for variations of the name or common misspellings.
- Look for “Crestar Bank” or “SunTrust” listed as the reporting institution.
Claiming these funds usually requires submitting a form along with a copy of your ID and proof of your connection to the address on file.
Handling Old Loans and Mortgages
If you are searching for Crestar Bank to resolve a lien on a property or to prove that a loan was paid off, the process is similar. Because Truist holds the historical records of Crestar, they are responsible for issuing a Satisfaction of Mortgage or a Lien Release.
If you are trying to sell a home and an old Crestar lien is appearing on the title search, you will need to contact the Truist Lien Release department. Providing them with the original loan number and the property address will help speed up the research process.
Important Considerations for Heirs
If you are searching for Crestar accounts on behalf of a deceased relative, you will need legal authorization to access information. Banks cannot disclose account details to anyone other than the account holder without proper documentation.
Be prepared to provide a certified copy of the death certificate and Letters Testamentary or Letters of Administration issued by a probate court. These documents prove that you have the legal right to manage the decedent’s financial affairs.
Final Steps in Your Search
Tracking down legacy bank accounts requires patience, especially when the original institution has gone through multiple mergers. By following the trail from Crestar to SunTrust and finally to Truist, you can narrow down where your records are currently held.
Always start with the most recent successor bank before moving to state unclaimed property offices. For more help navigating financial transitions or understanding how to manage old records, explore our other articles on banking history and consumer rights.