What to do when an America First account holder dies

Section 3 passes an individual account "to the POD beneficiary or decedent's estate, if applicable." With no payable-on-death beneficiary, joint owner or trust, the personal representative presents Letters Testamentary or Letters of Administration.¹

Section 4.b gives the surviving joint owner the account: "Upon the death of one joint account owner, that person's interest will become the property of the surviving joint account owner(s)." A payable-on-death designation takes effect only on the death of the last joint owner.¹

The payout typically moves once the certified death certificate and the claimant's ID are accepted.³

The surviving payable-on-death beneficiary presents a certified death certificate and government-issued photo ID. Multiple beneficiaries take the funds jointly with rights of survivorship.²

The payout typically moves once the certified death certificate and the claimant's ID are accepted.³

A certificate carries its own beneficiary designation. If none was made, the payable-on-death designation on the share savings account governs the certificate.³

The beneficiary named on AFCU Form #424 controls; the payable-on-death form does not apply to an IRA.³

A separate beneficiary designation governs, not the payable-on-death form.³

A separate beneficiary designation governs, not the payable-on-death form.³

The successor trustee presents the death certificate, the trust document or Certification of Trust showing successor-trustee authority, and photo ID.³

Former Meadows Bank accounts, now America First accounts with the same account numbers, checks and cards³

Death claims on Greater Nevada Credit Union accounts until its merger with America First closes⁴

Deceased member account counseling and estate settlement support.³

1-801-827-7379

Opened at a branch to collect funeral or final-expense donations. Donors give at a branch, by check to P.O. Box 9199, Ogden, Utah 84409, by debit card through Member Service at 1-800-999-3961, through person-to-person payment apps, or by transfer to routing number 324377516. Receipts are issued on request.⁵

Under Section 23 (Death of Account Owner), America First may continue to honor transfers, withdrawals, deposits and other transactions on the account until it learns of the account owner's death.¹

Once America First learns of the death, it may still pay checks or honor other payments or transfer orders authorized by the deceased member for ten days, unless a person claiming an interest in the account tells it to stop payment on them.¹

Under Section 23 the member waives the right to make a testamentary disposition of any America First account. Each account is paid on death by its designations (payable-on-death, joint, trust title, IRA or HSA beneficiary), not by the will.¹

Section 2 says a joint-with-survivorship or payable-on-death designation "may be invalidated upon the Credit Union's receipt of marriage dissolution notice or a testamentary disposition, as required by applicable law." A divorce decree or a will the credit union has received can change who it pays.¹

Under Section 23 America First can require anyone who claims funds in the account after the owner's death to indemnify it for losses from honoring that claim, and can require documents before releasing funds.¹

Under Section 26, if asked to follow instructions it believes might expose it to claims, the credit union "may refuse to follow your instructions or may require you to post a bond or otherwise indemnify the Credit Union".¹

The account agreement is governed by Utah law, or by California law for memberships opened in person at a California branch (Section 27).¹