How to name beneficiaries and fund a trust at American Eagle FCU
Beneficiaries are managed in branch or by mail. Trust paperwork is taken in branch or by mail
The goal with your American Eagle FCU accounts is to make sure every account has a transfer mechanism in place—either a POD beneficiary designation or trust ownership. Because American Eagle FCU 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.
Each of American Eagle FCU's 14 accounts has different rules for how it transfers at death. The sections below explain the options for each.
Beneficiary form at American Eagle FCU
Payable on Death beneficiary designation paperwork (for payable-on-death accounts).
- Government-issued photo ID
- Full legal names and identifying information for each beneficiary
- The name of a parent, custodian or legal guardian for any minor beneficiary
- Fill in each beneficiary's full legal name and identifying information
- Name a parent, custodian or legal guardian for any minor beneficiary
- All persons who created the account must sign
Required Documents
- Beneficiary's full legal name and identifying information (for each beneficiary)
- Name of a parent, custodian or legal guardian (for a minor beneficiary)
- Government-issued photo ID (for each account owner)
- The trust agreement or Certificate of Trust
- Government-issued ID for all trustees
- The trust EIN, or the grantor's SSN for a revocable trust
- A copy of the trust agreement or Certificate of Trust
- Copies of government-issued ID for all trustees
- The trust EIN or grantor SSN
Required Documents
- Trust agreement or Certificate of Trust. By mail, a copy is sent
- Government-issued ID (for all trustees)
- Trust tax identification number. An EIN, or the grantor's SSN for a revocable trust
- Government-issued photo ID
- Full legal names and identifying information for each beneficiary
- The name of a parent, custodian or legal guardian for any minor beneficiary
- Fill in each beneficiary's full legal name and identifying information
- Name a parent, custodian or legal guardian for any minor beneficiary
- All persons who created the account must sign
Required Documents
- Beneficiary's full legal name and identifying information (for each beneficiary)
- Name of a parent, custodian or legal guardian (for a minor beneficiary)
- Government-issued photo ID (for each account owner)
What American Eagle FCU says about beneficiaries and trusts
Each section is American Eagle FCU's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary3
- Payable-on-death account
POD designations apply to deposit accounts, including checking, savings, money market and certificate accounts.1
The Member Account Information Disclosure treats Revocable Trust and Pay-On-Death accounts as one ownership-and-beneficiary category on the credit union's account records.2
- Certificate of deposit
A certificate account can carry a POD designation.1
- IRA
An IRA uses the separate IRA beneficiary designation, not a POD designation.1
Who can be named1
- A minor
A minor can be a beneficiary only if a parent, custodian or legal guardian is set forth for the minor and signs for the proceeds from the account.2
How many beneficiaries, and how shares are split
- All accounts
If two or more beneficiaries are named and survive, they own the account in equal shares, without right of survivorship.1
What a designation takes to be effective
- All accounts
All persons who created the account must sign.1
Beneficiary forms American Eagle FCU issues1
- Payable on Death beneficiary designation paperwork
For payable-on-death accounts. Completed by all persons who created the account. Sent by the institution on request.1
Return to
Mailing address: American Eagle Financial Credit Union, P.O. Box 280128, East Hartford, CT 06128-0128
What American Eagle FCU's agreement says about beneficiaries3
- A beneficiary who dies first
Beneficiaries can withdraw only after every person who created the account has died, and only if the beneficiary is then living.1
- What the owner keeps while living
The persons who created the account may change beneficiaries, change account types, and withdraw all or part of the funds at any time.1
- The institution's right to refuse a designation or an account title
The credit union reserves the right to refuse some forms of ownership and beneficiary designation. It makes no representation about their appropriateness or effect, except as they determine to whom it pays the account funds.1
Which accounts a trust can hold1
- Trust account
Trust accounts are opened using American Eagle's ordinary checking, savings, money market and certificate products. There is no separate trust product line.1
Trust account forms American Eagle FCU issues1
- Trust account paperwork
For trust accounts. Sent by the institution on request.1
Return to
Mailing address: American Eagle Financial Credit Union, P.O. Box 280128, East Hartford, CT 06128-0128
What American Eagle FCU says about trust accounts3
- Who signs for the trust
Only the trustees may transact on a trust account.1
- Review of the trust document
Accounts may be opened by a trustee under a written trust agreement. By merely opening one, American Eagle is not acting as a trustee and undertakes no obligation to monitor or enforce the terms of the trust.2
- Joint accounts
For Revocable Trust accounts, if two or more people create the account they own it jointly with survivorship.1
Accounts handled elsewhere1
- American Eagle Investment Services / LPL Financial
Investment and financial planning1
Not in American Eagle FCU's published guidance1
- A beneficiary form to download
Sources2
Sources
Data sourced from American Eagle FCU primary sources (19 pages reviewed). How we research.
Download these American Eagle FCU instructions
A printable PDF with the steps, required documents, and contact details, verified against American Eagle FCU primary sources. Bring it to the branch or keep it beside the phone.
American Eagle FCU estate support
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Estate requests go through general customer service.
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