Descendant identification cards to be issued
Even before they receive shares of stock, CIRI encourages descendants to become more involved in their corporation and learn about the many benefits that may apply to them. With that goal in mind, in 2006 CIRI and The CIRI Foundation (TCF) introduced an informal CIRI descendant registration process, whereby descendants submitted a form and thereafter began to receive pertinent communication materials.
In an effort to formalize the process and foster better engagement, CIRI revamped its registry so that in addition to communications, eligible descendants will receive identification cards. To receive a card, direct lineal descendants of an original CIRI shareholder (e.g., the children, grandchildren, great grandchildren, etc.) must complete an updated registration form and submit the appropriate legal documents to substantiate descent from that shareholder. These are the same documents that are required when a shareholder wishes to gift shares to an eligible family member, or when lineal descendants of an original shareholder apply to TCF for scholarships or grants.
“CIRI recognizes that its future will ultimately be in the hands of CIRI descendants, and we want to encourage their involvement with the corporation,” said betsy Peratrovich, senior director of CIRI Shareholder Relations. “The submitted documents are treated confidentially and only used for CIRI and TCF purposes, unless otherwise approved by the applicant.”
Why the change? The cards may be used to check in at CIRI events when the descendant arrives before the shareholder, and may also be presented to shareholder and descendant business owners that provide shareholder and descendant discounts (visit ciri.com for a list of shareholder and descendant business owners). The cards may also assist descendants in proving eligibility to receive services from various agencies and organizations.
Another reason for formalizing CIRI’s descendant registration process is to assist TCF in the administration of its programs. Currently, eligibility to receive TCF scholarships and grants is determined through an applicant’s status as an original enrollee of CIRI or as a direct lineal descendant of an original enrollee. Even if a current lineal descendant does not apply for TCF scholarships or grants, future generations of descendants may wish to do so. But with each successive generation, it is becoming more challenging to document a descendant’s relationship to an original enrollee. Collecting the required information now will make the application process easier for both current and future generations.
To learn more about the descendant registration process and apply online, visit the CIRI website at ciri.com/descendants. Descendants who are already CIRI shareholders need not apply.
