What to do when a BCU account holder dies
Report the death to BCU Member Operations / Specialty Team at 1-800-388-7000
BCU Member Operations / Specialty Team coordinates account transitions after a member's death. How each account is handled depends on its setup: POD and trust accounts transfer automatically, while solely-owned accounts typically require court authorization through Letters Testamentary or Letters of Administration.
Death claim process
Follow these steps to file a death claim with BCU:
Filing a claim
- Hand them to a branch representative
- Mail them to BCU, 340 N. Milwaukee Avenue, Vernon Hills, IL 60061, ATTN: Member Operations, not to the general P.O. Box
- Upload them through the Message Center in Digital Banking
- Email them to specialty@bcu.org
- Fax estate-account documents to Member Operations at 224-207-2624
Required Documents
- Certified copy of the death certificateWhere the account had more than one owner, BCU may require a certified copy of each owner's death certificate.
- Copy of your government-issued photo IDBCU may also require a second form of ID, a thumbprint or fingerprint, and your SSN, birthdate and physical address.
- Signed and dated letter of instructionStates where to send any funds owed.
- Your best contact phone number or email
- Small estate affidavit, from an executor, administrator or responsible individual, where the estate is within the state's small-estate limit
- Letters Testamentary or Letters of Administration, where the estate is over the state's small-estate limitCourt-ordered documentation naming the executor.
- Indemnification in BCU's favor, if BCU requires one of an estate representative or claimant
- Trust documentation and the successor trustee's ID, for a trust accountProvided by the successor trustee with the certified death certificate.
- BCU Payment Election form and the beneficiary's ID, for an IRAOne form per IRA type.
- Membership application in the estate's name, W-9 and EIN confirmation letter, to open an estate accountWith court documentation naming the executor, a copy of a certified death certificate (if the estate was established due to a death) and the executor's ID.
Claims Contact
Website: Online portal →
Forms BCU issues1
- Payment Election form (one per IRA type)
Completed by each named IRA beneficiary. Sent by the institution on request.1
What happens to each kind of account5
- Joint account with survivorship
BCU accounts are held with right of survivorship, so the surviving joint owner keeps immediate access.1
- Payable-on-death account
Each named beneficiary presents proof of death and ID and may claim an equal share, the funds divided by the number of beneficiaries. On a joint account, a payable-on-death designation takes effect only after all owners have died.1
- Account in one name
With no beneficiary and no surviving owner, the funds pass to the estate. They are claimed by the estate representative, or by "a claimant (such as a creditor or relative)", who must prove authority and identity.1, 2
- Trust account
The successor trustee provides the certified death certificate, the trust documentation and the trustee's ID.1
- IRA
An IRA specialist contacts the named beneficiaries, who each complete a BCU-issued Payment Election form, one per IRA type.1
State requirements BCU statesTexas
- Texas
BCU's article names Texas as a state where a will can be used in place of a small estate affidavit.1
What BCU's agreement and guidance say7
- What it does when notified
BCU may keep honoring all actions and transactions on the account until it receives a copy of the death certificate and proof of the representative's or claimant's authority.2
- Indemnity a claimant may have to give
BCU may require the estate representative or claimant to indemnify, defend and hold it harmless before it releases funds.2
- How proceeds are paid
BCU may pay by issuing its own check payable to the deceased owner's estate rather than to the person who asked.2
- Debts owed to the institution
BCU has a lien and security interest in account funds and may apply them to any debt the deceased person owed, such as credit cards and loans, before paying a beneficiary or the estate.1
- Wills, probate and small estates
BCU does not accept a will as authority to release funds, because a will can be contested in probate and does not name the estate representative. It requires a small estate affidavit or court-entered Letters.1
- Which state governs the account
Under the agreement, an account is governed by "the applicable law of the state in which the branch or service center where you started the account in person is located", and by Illinois law if it was opened by mail, phone or online.2
- Membership
An estate is its own BCU member, so an estate account is opened with a membership application in the estate's name.1
Sources2
- 1.Loved One Passed Away? Steps to Inform BCU
- 2.Consumer Member Service Agreement, CMSA 06-01-2026
BCU Member Operations / Specialty Team can be reached by phone at 1-800-388-7000, email at specialty@bcu.org, and fax at 1-224-207-2624 for questions throughout the claims process.
Sources
Data sourced from BCU primary sources (26 pages reviewed). How we research.
BCU death claims support
BCU Member Operations / Specialty Team
Phone
Toll-free
General Services
IRA Expert (inherited and beneficiary IRAs)
Fax
Hours
Mailing address
Website
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