How to name beneficiaries and fund a trust at Charter Oak FCU
Beneficiaries are managed in branch, by phone or by mail. Trust paperwork is taken in branch, by phone or by mail
There are two ways to keep your Charter Oak FCU accounts out of probate: adding Payable on Death designations and retitling accounts into a trust. Because Charter Oak FCU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Both methods ensure your accounts transfer directly to the people you choose, without court involvement.
Each of Charter Oak FCU's 24 accounts has different rules for how it transfers at death. The sections below explain the options for each.
Beneficiary form at Charter Oak FCU
Payable on Death (POD) beneficiary designation form (for payable-on-death accounts) and IRA beneficiary designation form (for IRAs).
- Waterford (1055 Hartford Turnpike or 3 Boston Post Road), Groton, Norwich, Mystic, Niantic, Pawcatuck, Montville/Uncasville, Dayville, Putnam or Willimantic
- Primary and contingent beneficiary full legal names
- Dates of birth and Social Security numbers
- For a trust beneficiary: the trust name, trust date, and trust tax identification number
- By mail to Charter Oak Federal Credit Union, 1055 Hartford Turnpike, Waterford, CT 06385, ATTN: Member Services
- Or in person at a full-service branch
- Full legal names, dates of birth, and Social Security numbers
- For a trust beneficiary: the trust name, trust date, and trust tax identification number
- Charter Oak's own contact page instructs members to address mail with "ATTN: (department you wish to contact)"
Required Documents
- Primary and contingent beneficiary full legal names
- Beneficiaries' dates of birth and Social Security numbers
- Trust name, trust date and trust tax identification number (when naming a trust)
- Government-issued photo ID (at a branch)
- The complete trust agreement or a Certificate of Trust
- Government-issued photo ID for each trustee
- The trust tax identification number
- Confirmation that the trust parties fall inside Charter Oak's field of membership (New London or Windham County)
- Trust agreement or Certificate of Trust
- Trustee identification
- Trust tax identification number
- Trust agreement or Certificate of Trust
- Copies of government-issued photo ID for each trustee
- The trust tax identification number
Required Documents
- Trust agreement or Certificate of Trust. The complete revocable living trust agreement, or a Certificate of Trust (a summary document identifying trustee authority)
- Trust amendments (where the trustee or trustee powers have changed)
- Government-issued photo ID (for each trustee). Copies, when the package is mailed
- Trust tax identification number
- Evidence that the trust parties are within Charter Oak's field of membership. New London or Windham County
- Waterford (1055 Hartford Turnpike or 3 Boston Post Road), Groton, Norwich, Mystic, Niantic, Pawcatuck, Montville/Uncasville, Dayville, Putnam or Willimantic
- Primary and contingent beneficiary full legal names
- Dates of birth and Social Security numbers
- For a trust beneficiary: the trust name, trust date, and trust tax identification number
- By mail to Charter Oak Federal Credit Union, 1055 Hartford Turnpike, Waterford, CT 06385, ATTN: Member Services
- Or in person at a full-service branch
- Full legal names, dates of birth, and Social Security numbers
- For a trust beneficiary: the trust name, trust date, and trust tax identification number
- Charter Oak's own contact page instructs members to address mail with "ATTN: (department you wish to contact)"
Required Documents
- Primary and contingent beneficiary full legal names
- Beneficiaries' dates of birth and Social Security numbers
- Trust name, trust date and trust tax identification number (when naming a trust)
- Government-issued photo ID (at a branch)
- The complete trust agreement or a Certificate of Trust
- Government-issued photo ID for each trustee
- The trust tax identification number
- Confirmation that the trust parties fall inside Charter Oak's field of membership (New London or Windham County)
- Trust agreement or Certificate of Trust
- Trustee identification
- Trust tax identification number
- Trust agreement or Certificate of Trust
- Copies of government-issued photo ID for each trustee
- The trust tax identification number
Required Documents
- Trust agreement or Certificate of Trust. The complete revocable living trust agreement, or a Certificate of Trust (a summary document identifying trustee authority)
- Trust amendments (where the trustee or trustee powers have changed)
- Government-issued photo ID (for each trustee). Copies, when the package is mailed
- Trust tax identification number
- Evidence that the trust parties are within Charter Oak's field of membership. New London or Windham County
- Waterford (1055 Hartford Turnpike or 3 Boston Post Road), Groton, Norwich, Mystic, Niantic, Pawcatuck, Montville/Uncasville, Dayville, Putnam or Willimantic
- Primary and contingent beneficiary full legal names
- Dates of birth and Social Security numbers
- For a trust beneficiary: the trust name, trust date, and trust tax identification number
- By mail to Charter Oak Federal Credit Union, 1055 Hartford Turnpike, Waterford, CT 06385, ATTN: Member Services
- Or in person at a full-service branch
- Full legal names, dates of birth, and Social Security numbers
- For a trust beneficiary: the trust name, trust date, and trust tax identification number
- Charter Oak's own contact page instructs members to address mail with "ATTN: (department you wish to contact)"
Required Documents
- Primary and contingent beneficiary full legal names
- Beneficiaries' dates of birth and Social Security numbers
- Trust name, trust date and trust tax identification number (when naming a trust)
- Government-issued photo ID (at a branch)
What Charter Oak FCU says about beneficiaries and trusts
Each section is Charter Oak FCU's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary3
- Payable-on-death account
A POD designation is available on deposit accounts: checking, savings and club accounts, money market accounts, and share certificates.1
Each share, checking account, money market and certificate is its own registration, so a beneficiary is named on each account separately.1
- IRA
IRAs (Traditional, Roth, SEP and IRA Certificate) do not use POD. They pass under a separate IRA beneficiary designation form, and new IRAs are opened at a branch rather than online.1
- Health savings account
The HSA uses a beneficiary designation rather than POD.1
Who can be named1
- A trust, payable-on-death accounts
A trust can be named as POD beneficiary, with the trust name, trust date and trust tax identification number.1
- A trust, IRAs
An IRA can name a trust as beneficiary on its own designation form.1
- A trust, health savings accounts
The HSA can name a trust as beneficiary on its own designation form.1
What a designation takes to be effective
- All accounts
All account owners must sign the form. For a Bright Future account held by a 14-to-17-year-old, the parent or guardian joint owner signs as well.1
A phone representative cannot complete the designation on the call; a signed form is required either way.1
Beneficiary forms Charter Oak FCU issues2
- Payable on Death (POD) beneficiary designation form
For payable-on-death accounts. Completed by all account owners. Sent by the institution on request.1
Return to
Mailing address: Charter Oak Federal Credit Union, Attn: Member Services, 1055 Hartford Turnpike, Waterford, CT 06385
- IRA beneficiary designation form
For IRAs. Sent by the institution on request.1
What Charter Oak FCU's agreement says about beneficiaries1
- A designation and a will
Upon the death of the last surviving owner, POD funds are distributed to the named beneficiaries and are not controlled by the will.1
Which accounts a trust can hold2
- IRA
IRAs cannot be retitled to a trust.1
- Health savings account
The HSA cannot be retitled to a trust.1
Trust account forms Charter Oak FCU issues1
- Trust account application
Provided at a branch.1
Return to
Mailing address: Charter Oak Federal Credit Union, Attn: Member Services, 1055 Hartford Turnpike, Waterford, CT 06385
What Charter Oak FCU says about trust accounts1
- Membership
A trust can hold accounts only if the trust parties fall inside Charter Oak's field of membership: anyone who lives, works, goes to school, worships, volunteers or donates in New London or Windham County.3
A Connecticut grantor who moves out of eastern Connecticut can keep an existing membership ("once a member, you are a member for life").3
The Regular Savings share is what holds membership, so it is retitled last, if at all.1
Accounts handled elsewhere2
- Charter Oak Retirement and Investment Services (LPL Financial)
Beneficiary and TOD designations on investment accounts held at LPL Financial1
Phone: 1-860-446-3398
- Elan Financial Services
The Charter Oak Visa credit card1
Not in Charter Oak FCU's published guidance7
- An online way to name a beneficiary
- A beneficiary form to download
- Trust account page
- Trust documentation checklist
- Online trust account application
- Membership and Account Agreement
- Online status tracker for trust retitling
Sources3
- 1.Charter Oak Contact Center
- 2.Branch and hours list
- 3.Charter Oak field of membership
Sources
(1)·
Data sourced from Charter Oak FCU primary sources (19 pages reviewed). How we research.
Download these Charter Oak FCU instructions
A printable PDF with the steps, required documents, and contact details, verified against Charter Oak FCU primary sources. Bring it to the branch or keep it beside the phone.
Charter Oak FCU estate support
Contact Center
Phone
Toll-free
Visa Credit Card 24-Hour Service (Elan Cardmember Service)
Visa Credit Card Technical Support
Charter Oak Retirement and Investment Services
Hours
Mailing address
Website
Estate requests go through general customer service.
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