How to name beneficiaries and fund a trust at Coastal CU
Beneficiaries are managed in branch, by phone or by mail. Trust paperwork is taken in branch, by phone or by mail
The goal with your Coastal CU accounts is to make sure every account has a transfer mechanism in place—either a POD beneficiary designation or trust ownership. Because Coastal CU 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.
Across 16 product types, Coastal CU accounts vary in how they transfer at death. The sections below walk through Payable on Death (POD) designations, trust funding options, and which products support each method.
Beneficiary form at Coastal CU
Account Card or Account Change Card and IRA beneficiary form (for IRAs).
- 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 EIN
- Section 4 of the Membership and Account Agreement requires written direction to change a beneficiary
- Complete, sign, and return the card by mail or in branch
- Full legal names, dates of birth, and Social Security numbers
- Primary and contingent beneficiaries, and the share each is to receive
Required Documents
- Beneficiary's full legal name (for each primary and contingent beneficiary)
- Beneficiary's date of birth and Social Security number
- Share each beneficiary is to receive (on a card completed by mail)
- Trust name, trust date and trust EIN (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 every trustee
- The trust's Employer Identification Number (EIN) from the IRS
- Your existing account numbers, so each one is retitled rather than just the first
- Whether you are opening a new trust account or retitling existing accounts
- That the settlor holds membership in their own right, per Bylaws Article III, Section 6
- Which documents Coastal wants and where to send them
- Trust agreement or Certificate of Trust
- Copies of each trustee's government-issued photo ID
- The trust EIN
- The signed Account Change Card or trust account application
Required Documents
- Complete trust agreement or Certificate of Trust. Either is accepted: the complete revocable living trust agreement, or a Certificate of Trust, the summary document identifying trustee authority
- Government-issued photo ID (for each trustee)
- Trust Employer Identification Number (EIN)
- Signed Account Change Card or trust account application (for each account being retitled)
- Existing account numbers (at a branch)
- 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 EIN
- Section 4 of the Membership and Account Agreement requires written direction to change a beneficiary
- Complete, sign, and return the card by mail or in branch
- Full legal names, dates of birth, and Social Security numbers
- Primary and contingent beneficiaries, and the share each is to receive
Required Documents
- Beneficiary's full legal name (for each primary and contingent beneficiary)
- Beneficiary's date of birth and Social Security number
- Share each beneficiary is to receive (on a card completed by mail)
- Trust name, trust date and trust EIN (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 every trustee
- The trust's Employer Identification Number (EIN) from the IRS
- Your existing account numbers, so each one is retitled rather than just the first
- Whether you are opening a new trust account or retitling existing accounts
- That the settlor holds membership in their own right, per Bylaws Article III, Section 6
- Which documents Coastal wants and where to send them
- Trust agreement or Certificate of Trust
- Copies of each trustee's government-issued photo ID
- The trust EIN
- The signed Account Change Card or trust account application
Required Documents
- Complete trust agreement or Certificate of Trust. Either is accepted: the complete revocable living trust agreement, or a Certificate of Trust, the summary document identifying trustee authority
- Government-issued photo ID (for each trustee)
- Trust Employer Identification Number (EIN)
- Signed Account Change Card or trust account application (for each account being retitled)
- Existing account numbers (at a branch)
- 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 EIN
- Section 4 of the Membership and Account Agreement requires written direction to change a beneficiary
- Complete, sign, and return the card by mail or in branch
- Full legal names, dates of birth, and Social Security numbers
- Primary and contingent beneficiaries, and the share each is to receive
Required Documents
- Beneficiary's full legal name (for each primary and contingent beneficiary)
- Beneficiary's date of birth and Social Security number
- Share each beneficiary is to receive (on a card completed by mail)
- Trust name, trust date and trust EIN (when naming a trust)
- Government-issued photo ID (at a branch)
What Coastal CU says about beneficiaries and trusts
Each section is Coastal CU'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, money market and certificates.1
Each account is updated individually. A designation on one account does not carry to another.2
- IRA
A POD beneficiary designation does not apply to IRAs. IRA beneficiaries are named on a separate IRA beneficiary form.1
- Health savings account
An HSA passes by its HSA beneficiary designation, not a POD.2
Who can be named1
- A trust
A trust can be named as a POD beneficiary, with its name, date and EIN.2
- A trust, IRAs
A trust can be named on the IRA beneficiary form.2
How many beneficiaries, and how shares are split
- All accounts
The card names primary and contingent beneficiaries and the share each is to receive.2
What a designation takes to be effective
Beneficiary forms Coastal CU issues2
What Coastal CU's agreement says about beneficiaries4
- A designation and a will
On the owner's death the money in the account belongs to the beneficiary and "will not be inherited by your heirs or be controlled by your will."1
- Who can see the designation
Coastal is not obligated to notify a beneficiary that an account exists or that their interest has vested, except as otherwise provided by law.1
- Joint accounts
Unless the Account Card or the online application says otherwise, a joint account carries rights of survivorship, and the surviving owner takes the balance ahead of any POD beneficiary of the deceased owner.1
- Claims against the account
A surviving joint owner's interest remains subject to Coastal's statutory lien for the deceased owner's obligations and to any security interest the deceased owner granted, even if the survivor never consented to it.1
Which accounts a trust can hold2
- IRA
An IRA cannot be retitled to a trust.2
- Trust account
Trust-titled shares in an irrevocable trust are not subject to the Bylaws' ordinary withdrawal restrictions except as the trust agreement states.3
Trust account forms Coastal CU issues2
- Account Change Card
Sent by the institution on request.1
Return to
Mailing address: Coastal Credit Union, P.O. Box 58429, Raleigh, NC 27658
- Trust account application
Sent by the institution on request.2
Return to
Mailing address: Coastal Credit Union, P.O. Box 58429, Raleigh, NC 27658
What Coastal CU says about trust accounts2
- Membership
For a revocable trust the settlor must be a member in their own right. For an irrevocable trust either the settlor or the beneficiary must be a member, and both must state the name of the beneficiary.3
A trust may itself be a member as an entity if all settlors, beneficiaries and trustees are within the field of membership.3
- Review of the trust document
Coastal will facilitate trust, will and court-ordered arrangements, but because it does not give legal advice it cannot counsel which arrangement meets a trust's requirements.1
Coastal may refuse instructions that expose it to claims, or require indemnification, a bond or other protection.1
Accounts handled elsewhere1
- LPL Financial (Coastal Wealth Management)
Investment accounts, whose retitling runs through Coastal Wealth Management rather than a branch2
Sources3
- 1.Membership and Account Agreement
- 2.Coastal Credit Union
- 3.Coastal FCU Amended and Restated Bylaws (2023)
Sources
(4)·
Data sourced from Coastal CU primary sources (22 pages reviewed). How we research.
Download these Coastal CU instructions
A printable PDF with the steps, required documents, and contact details, verified against Coastal CU primary sources. Bring it to the branch or keep it beside the phone.
Coastal CU estate support
Coastal Wealth Management (through LPL Financial)
Phone
Mailing address
Website
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