LOSS OF A LOVED ONE
We understand this may be a challenging time for you. Overseeing financial and legal matters following the passing of a family member can feel overwhelming. Our dedicated Member Care Service team is here to provide you with guidance and support as you navigate this process. We recognize each situation is unique, and we're committed to assisting you every step of the way.
We also provide resources to help you plan for the future.
Take the first step.
Contact our team as soon as possible to discuss your situation. You don’t need to wait until you have everything gathered to reach out to us. Our team will help you through the entire process.
WHAT TO EXPECT
Our Member Care Services team is dedicated to easing the burden of overseeing your loved one's finances during this difficult time, while maintaining the highest standard of service for you. Below, you'll find some common questions and answers that will assist us in providing the support you need.
Frequently asked questions
Please notify us as soon as possible. We'll assist you in navigating through the process with the necessary information and guidance. This includes addressing any potential recurring charges or direct deposits associated with the account. Our goal is to ensure a smooth experience during this transition.
Our objective is to close the deceased primary account within 90 days. We recognize that certain circumstances might cause delays in the account closure process. For any assistance during this period, please stay in touch with our Member Care Services team.
Upon receiving notification of the passing of the primary member, our Member Care Services team will promptly send a letter to the address of the designated beneficiary on file. This notification will be sent via the most timely means of delivery. Please be aware that beneficiaries do not have access to account information, as we prioritize our members' privacy and security.
Legal documentation will be necessary to gain access to the decedent's account information or funds. These legal documents typically include an executor letter or a letter of testament from the court. The specific names of these documents may vary depending on the state or county.
The Power of Attorney (POA) terminates upon the death of the account holder. Therefore, an individual who held a POA for the decedent cannot access information on a decedent's account after the account holder's death.
The joint owner will need to be removed from the primary account. You may call (800) 533-0035 or visit your local branch to complete the form.
A primary owner is the individual who opened the Credit Union membership.
The account is shared by the primary owner and the joint owner, who both have full access to it. The monthly statements show the names of both owners. When the primary owner dies, the joint owner can still use the account, but the account is still part of the primary owner's estate. The primary owner's Social Security number is used to report the dividends for tax purposes. The account must be closed after the primary owner's death.
A beneficiary is named by the primary member to receive some or all funds in the account upon proof of death.
When a primary member has passed away, they can still sponsor their spouse for membership. Others may already qualify on their own under the field of membership criteria. It’s important to review the specific eligibility requirements and reach out to us for further guidance on the application process.
Prepare your loved ones
One of the greatest gifts you can give your loved ones is to organize your finances in advance of your death.
Sponsor your loved ones for membership
Many family members are eligible for their own membership through your sponsorship. They'll need their own membership to continue benefiting from the products and services the Credit Union offers after your passing.
Designate and Update Beneficiaries
Be sure to have a designated beneficiary on all of your financial accounts. We recommend that you review and update them yearly. Log into online banking, select “Account Services” from the menu and choose “Manage Beneficiaries” to get started. For more details, click here.
Credit Life and Credit Disability
Credit Life insurance protects your loved ones in the unfortunate event of untimely death. Credit Disability insurance covers you in case of injury or illness. Credit Life and Credit Disability is available on auto and personal loans as well as credit cards.
Organize all of your Documents
My Toolkit, previously known as Marketplace, offers a suite of online banking tools providing several options that can help. You can manage these tools through the Credit Union app after completing registration on a browser. Note that fees and qualifications may apply.
- OneDigitalTrust Users of this estate- and inheritance-planning platform can create legal documents, including wills, living trusts, healthcare and financial powers of attorney and others.
- Trustworthy Successful modern families can collaborate with loved ones and advisors to protect and organize their most important information. Secure items like family IDs, money, property, passwords, insurance, tax records, estate documents, contacts, and more – all in one place.
Sponsor your loved ones for membership
Many family members are eligible for their own membership through your sponsorship. They'll need their own membership to continue benefiting from the products and services the Credit Union offers after your passing.
Designate and Update Beneficiaries
Be sure to have a designated beneficiary on all of your financial accounts. We recommend that you review and update them yearly. Log into online banking, select “Account Services” from the menu and choose “Manage Beneficiaries” to get started. For more details, click here.
Credit Life and Credit Disability
Credit Life insurance protects your loved ones in the unfortunate event of untimely death. Credit Disability insurance covers you in case of injury or illness. Credit Life and Credit Disability is available on auto and personal loans as well as credit cards.
Organize all of your Documents
My Toolkit, previously known as Marketplace, offers a suite of online banking tools providing several options that can help. You can manage these tools through the Credit Union app after completing registration on a browser. Note that fees and qualifications may apply.
- OneDigitalTrust Users of this estate- and inheritance-planning platform can create legal documents, including wills, living trusts, healthcare and financial powers of attorney and others.
- Trustworthy Successful modern families can collaborate with loved ones and advisors to protect and organize their most important information. Secure items like family IDs, money, property, passwords, insurance, tax records, estate documents, contacts, and more – all in one place.
