What to do when a Canvas CU account holder dies
Contact Canvas CU's Member Services - Trust and Estate Accounts — 5-step process, 6 required documents, and joint accounts transfer immediately. pod accounts are typically processed within 5-10 business days after receipt of required documents. trust accounts transfer upon successor trustee verification. estate accounts requiring probate documentation may take 30-90 days.
Phone303-691-2345
Toll-Free1-800-437-7328
Fax303-639-2910
Mailing Address
Canvas Credit Union, PO Box 5238, Englewood, CO 80155
Northern Colorado/Western Slope
Colorado Springs/Southern Colorado
Lost/Stolen Debit/Credit Cards (US)
Lost/Stolen Cards (International/Collect)
WebsiteLearn more→
Member Services - Trust and Estate Accounts
Phone303-691-2345
Toll-Free1-800-437-7328
Fax303-639-2910
WebsiteLearn more→
Member Services - Deceased Member Accounts
Phone303-691-2345
Toll-Free1-800-437-7328
Fax303-639-2910
Mailing Address
Canvas Credit Union, PO Box 5238, Englewood, CO 80155
Verified Apr 2026
The Member Services - Trust and Estate Accounts at Canvas CU 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.
Gather the account holder's full name, date of birth, and any known account or policy numbers before contacting Canvas CU. A certified death certificate is the primary document required to start any claim.
Death claim process
Follow these steps to file a death claim with Canvas CU:
Filing a claim
1
Contact Canvas at (800) 437-7328 or visit a local branch as soon as possible after the death to notify the credit union
2
Provide a certified copy of the death certificate
3
Canvas reviews account type and ownership structure to determine distribution path:
- Joint accounts with right of survivorship: the surviving joint owner continues to use the account normally
- Single owner with POD: Canvas closes the account and distributes funds to the designated beneficiaries upon verification
- Trust accounts: successor trustee provides trust documents, death certificate, and trustee identification to assume control
- Single owner without POD or trust: funds are distributed to the estate; executor or personal representative provides Letters Testamentary or Letters of Administration from probate court
4
Beneficiaries and claimants provide identification and documentation:
- Government-issued photo ID to claim funds
- IRA accounts: designated beneficiary completes distribution election forms
- For investment accounts: contact Canvas Advisors / LPL Financial directly for a separate process
5
Canvas processes the claim; processing may take up to 90 days depending on complexity
Required Documents
- Certified copy of the death certificate
- Government-issued photo ID for each beneficiary or claimant
- Letters Testamentary or Letters of Administration (when account has no POD designation and is not in trust)
- Complete trust document or Certificate of Trust (when trust is named beneficiary or account is trust-titled)
- Small estate affidavit (for estates under the Colorado small estate threshold)
- IRA beneficiary distribution election forms (for retirement accounts)
Contact Canvas as soon as possible after a death to prevent unauthorized transactions. Canvas will freeze the deceased member's accounts upon notification. Power of Attorney becomes void at death and cannot be used to settle accounts. Canvas will close HSA and IRA accounts without any Canvas-imposed penalties upon death, even if the deceased was under 59-1/2 or the maturity date has not been reached. If the deceased had a Payment Protection Plan on a loan, Canvas will determine eligibility and begin the claim filing process; proceeds are applied toward the loan balance as of the date of death. Direct deposits received from federal agencies (Social Security, VA, DFAS) on or after the date of death must be returned. Outstanding loan balances are liabilities of the estate. Credit card authorized users should be removed and cannot make charges after the primary cardholder's death.
Processing timelines at Canvas CU: Joint accounts transfer immediately. POD accounts are typically processed within 5-10 business days after receipt of required documents. Trust accounts transfer upon successor trustee verification. Estate accounts requiring probate documentation may take 30-90 days. Incomplete documentation is the most common cause of delays—submitting all required documents with the initial claim helps avoid additional processing time.
Documentation required by Canvas CU includes Certified copy of the death certificate, Government-issued photo ID for each beneficiary or claimant, and Letters Testamentary or Letters of Administration (when account has no POD designation and is not in trust), along with additional paperwork that varies by account type. All death certificates and court documents must be certified copies.
Frequently asked questions
Visit any Canvas branch or call (800) 437-7328 to request a POD (Payable on Death) beneficiary designation form. Complete the form with your primary and contingent beneficiary information, have all account owners sign it, and return it to Canvas. You may update your beneficiaries at any time by submitting a new signed form. Each account must be updated individually; POD designations do not automatically carry across accounts. POD designations cannot be completed online.
Yes. Canvas offers investment advisory services through Canvas Advisors in partnership with LPL Financial, a registered investment advisor and broker-dealer (member FINRA/SIPC). Services include financial planning, retirement planning, college planning, and trust and estate conservation. Investment products are not NCUA insured, not credit union guaranteed, and involve investment risk including possible loss of principal. Brokerage accounts can have TOD (Transfer on Death) designations or be retitled to a trust. Complimentary initial consultations are available.
Canvas's HSA is a tax-advantaged account for members enrolled in a High-Deductible Health Plan (HDHP). Contributions are pre-tax and withdrawals for qualified medical expenses are tax-free. Canvas also offers HSA CDs with terms from 6 months to 60 months. If a spouse is named as the beneficiary, the HSA transfers to the surviving spouse and remains an HSA. If a non-spouse beneficiary is named, the account ceases to be an HSA as of the date of death and the fair market value becomes taxable income to the beneficiary. Canvas will close an HSA without any Canvas-imposed penalties upon the account holder's death.
Contact Canvas at (800) 437-7328 or visit a branch as soon as possible to notify the credit union. Joint accounts with right of survivorship pass to the surviving owner. Single-owner accounts with a POD designation are distributed to the named beneficiaries after Canvas receives a certified death certificate and verifies beneficiary identification. Trust-titled accounts transfer to the successor trustee upon presentation of trust documents, death certificate, and trustee ID. Accounts without a POD designation or trust require probate; the executor or personal representative provides Letters Testamentary or Letters of Administration. Canvas freezes the deceased member's accounts upon notification to prevent unauthorized transactions. Power of Attorney becomes void at death.
No. Canvas will close IRA certificates without any Canvas-imposed early withdrawal penalty upon the account holder's death, even if the deceased was under age 59-1/2 or the certificate maturity date has not been reached. Similarly, Canvas will close an HSA without any Canvas-imposed penalties upon the account holder's death. Beneficiaries should contact Canvas at (800) 437-7328 to begin the distribution process.
Canvas CU's Member Services - Deceased Member Accounts can be reached by phone at 1-800-437-7328 and fax at 303-639-2910 for questions throughout the claims process.
Multiple Canvas CU accounts may mean multiple claims. Some account types can be processed together, but others require their own documentation. Check with the Member Services - Trust and Estate Accounts to confirm what applies.
Phone303-691-2345
Toll-Free1-800-437-7328
Fax303-639-2910
Mailing Address
Canvas Credit Union, PO Box 5238, Englewood, CO 80155
Northern Colorado/Western Slope
Colorado Springs/Southern Colorado
Lost/Stolen Debit/Credit Cards (US)
Lost/Stolen Cards (International/Collect)
WebsiteLearn more→
Member Services - Trust and Estate Accounts
Phone303-691-2345
Toll-Free1-800-437-7328
Fax303-639-2910
WebsiteLearn more→
Member Services - Deceased Member Accounts
Phone303-691-2345
Toll-Free1-800-437-7328
Fax303-639-2910
Mailing Address
Canvas Credit Union, PO Box 5238, Englewood, CO 80155
Verified Apr 2026
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