How to name beneficiaries and fund a trust at Affinity Plus
Beneficiaries are managed online, in branch or by mail. Trust paperwork is taken in branch or by phone
The goal with your Affinity Plus accounts is to make sure every account has a transfer mechanism in place—either a POD beneficiary designation or trust ownership. Because Affinity Plus is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Accounts without either one pass through the estate, by probate or the state's small-estate procedure.
With 28 product types, Affinity Plus offers a range of transfer options. Some accounts support Payable on Death (POD) designations, others can be retitled into a trust, and some require probate if no beneficiary is designated. The sections below break down each step.
Beneficiary form at Affinity Plus
Beneficiary Request Form, Account Change Card and Member Services Request.
Open the form →Required Documents
- Each beneficiary's full name and address
- Each beneficiary's date of birth
- Each beneficiary's Social Security number
- Each beneficiary's relationship to the accountholder
- Share ID(s) the designation applies to (if it applies only to specific shares)
- Government-issued photo ID (at a branch)
- Beneficiary Request Form, completed and signed
- Complete trust agreement or certification of trust
- Government-issued photo ID for all trustees
- Tax ID Number (SSN or EIN) for the trust
Required Documents
- Trust agreement or certification of trust
- Government-issued photo ID (for all trustees)
- Tax ID Number for the trust. An SSN or EIN for the trust
- Death certificate (if the original trustee is deceased and a successor trustee is acting)
Required Documents
- Each beneficiary's full name and address
- Each beneficiary's date of birth
- Each beneficiary's Social Security number
- Each beneficiary's relationship to the accountholder
- Share ID(s) the designation applies to (if it applies only to specific shares)
- Government-issued photo ID (at a branch)
- Beneficiary Request Form, completed and signed
- Complete trust agreement or certification of trust
- Government-issued photo ID for all trustees
- Tax ID Number (SSN or EIN) for the trust
Required Documents
- Trust agreement or certification of trust
- Government-issued photo ID (for all trustees)
- Tax ID Number for the trust. An SSN or EIN for the trust
- Death certificate (if the original trustee is deceased and a successor trustee is acting)
Required Documents
- Each beneficiary's full name and address
- Each beneficiary's date of birth
- Each beneficiary's Social Security number
- Each beneficiary's relationship to the accountholder
- Share ID(s) the designation applies to (if it applies only to specific shares)
- Government-issued photo ID (at a branch)
- Beneficiary Request Form, completed and signed
What Affinity Plus says about beneficiaries and trusts
Each section is Affinity Plus's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary3
- Payable-on-death account
Payable-on-death beneficiary designations are available on deposit accounts: checking, savings, money market and certificates.1
- IRA
The Beneficiary Request Form excludes IRAs by its own terms. An IRA requires its own separate beneficiary designation.1
The Membership and Account Agreement states that a POD or trust designation "shall not apply to Individual Retirement Accounts (IRAs)".2
- Health savings account
The Beneficiary Request Form excludes HSAs by its own terms. An HSA requires its own separate beneficiary designation.1
Who can be named1
- A trust, IRAs
An IRA can name a trust as beneficiary.3
How many beneficiaries, and how shares are split
- All accounts
The Beneficiary Request Form covers up to four beneficiaries and has no percentage field. Each beneficiary is marked either "Apply to all Shares on the Membership now and in the future" or "Apply only to Share ID(s)".1
Where more than one POD or trust beneficiary survives, the beneficiaries own the funds jointly in equal shares without rights of survivorship, unless state law provides otherwise.2
Beneficiary forms Affinity Plus issues3
- Beneficiary Request Form
Completed by the account owner. Available to download.1
Return to
Fax: 1-651-312-6252
Mailing address: Affinity Plus Federal Credit Union, 175 West Lafayette Frontage Rd, St. Paul, MN 55107
- Account Change Card
Sent by the institution on request.2
- Member Services Request
Sent by the institution on request.2
What Affinity Plus's agreement says about beneficiaries3
- Changing or revoking a designation
Each later Beneficiary Request Form supersedes all prior beneficiary designations for the affected accounts, per the signature block on the form.1
The account owner may change beneficiaries at any time. Affinity Plus may require a signed Account Change Card or Member Services Request to evidence the change.2
- Joint accounts
Joint account owners have automatic right of survivorship unless the Account Card states otherwise. A surviving owner takes subject to the credit union's statutory lien for the deceased owner's obligations.2
- Whether beneficiaries are told they are named
Affinity Plus is not obligated to notify any beneficiary that an account exists or that their interest has vested, so a designated beneficiary who does not know about the account will not be contacted.2
Which accounts a trust can hold2
- Trust account
Affinity Plus opens accounts titled in the name of a trust. Its share-insurance page lists "Trust Accounts" among covered account types.5
The agreement's POD and trust-payee rules do not apply to an account held on behalf of or in the name of a trust, so a trust-titled account is governed by the trust rather than by a POD designation.2
- IRA
An IRA cannot be retitled to a trust.3
Trust account forms Affinity Plus issues3
What Affinity Plus says about trust accounts2
- Whether a new account is opened
Existing deposit accounts (checking, savings, money market and certificates) can be retitled into the trust name, or new trust accounts can be opened. Setup requires an in-branch visit or a video banking appointment.3
- Review of the trust document
Affinity Plus will facilitate trust, will and court-ordered account arrangements but does not give legal advice and will not tell a member which arrangement fits a particular trust.2
Where an instruction could expose the credit union to claims, it may refuse the instruction or require indemnification, a bond or other protection, and it may require a signed Account Change Card or Member Services Request.2
Sources5
- 1.Beneficiary Request Form, revision 01/2018
- 2.Membership and Account Agreement, revision 07/25
- 3.Contact Us
- 4.Your Account
- 5.How We Are Insured
Sources
Data sourced from Affinity Plus primary sources (15 pages reviewed). How we research.
Download these Affinity Plus instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Affinity Plus primary sources. Bring it to the branch or keep it beside the phone.
Affinity Plus estate support
Member Advisors
Phone
Toll-free
Fax
Hours
Mailing address
Website
Estate requests go through general customer service.
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