How to name beneficiaries and fund a trust at Canvas CU
Covers 13 deposit, 4 retirement, 1 investment, and 11 lending accounts — beneficiaries must be updated in-branch
Canvas Credit Union, PO Box 5238, Englewood, CO 80155
Member Services - Trust and Estate Accounts
Operations Support - Deceased Member Accounts
Canvas Credit Union, attn: Operations Support, PO Box 5238, Englewood, CO 80155
Preparing your Canvas CU accounts for estate transfer involves two key steps: designating beneficiaries on each account and, where appropriate, retitling accounts into a trust. Because Canvas CU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Accounts with Payable on Death designations or trust ownership bypass probate entirely.
With 29 product types, Canvas CU 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.
- Primary and contingent beneficiary full legal names
- Dates of birth and Social Security numbers
- For a trust beneficiary: provide the trust name, trust date, and trust EIN
Special Requirements
- POD designation is available for all deposit accounts (checking, savings, money market, and share certificates)
- IRA beneficiary designations are completed on a separate beneficiary form at the time of account opening
- Upon death of the last surviving owner, POD funds are distributed to beneficiaries and are not controlled by a will
- Each account must be updated individually; beneficiary designations do not automatically carry across accounts
- HSA accounts require a beneficiary designation at account opening; surviving spouse becomes the account holder if named as beneficiary
Sources
Data sourced from Canvas CU primary sources (26 pages reviewed). How we research.
Download these Canvas CU instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Canvas CU primary sources. Bring it to the branch or keep it beside the phone.
Canvas Credit Union, PO Box 5238, Englewood, CO 80155
Member Services - Trust and Estate Accounts
Operations Support - Deceased Member Accounts
Canvas Credit Union, attn: Operations Support, PO Box 5238, Englewood, CO 80155
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