How to name beneficiaries and fund a trust at Coastal CU
Covers 10 deposit, 4 retirement, and 1 investment accounts — beneficiaries must be updated in-branch
Contact Center
Coastal Credit Union, PO Box 58429, Raleigh, NC 27658
Member Services - Death Claims
Coastal Credit Union, PO Box 58429, Raleigh, NC 27658
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 will require probate, which means court involvement and delays for your family.
Coastal CU has 15 accounts with different estate transfer rules. Here is how beneficiary designations, trust ownership, and probate apply to each one.
- 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
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
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
- Coverdell ESA beneficiary is the designated student; successor beneficiary may be named
Sources
Data sourced from Coastal CU primary sources (24 pages reviewed). How we research.
Download these Coastal CU instructions
Download instructions for the whole estateA 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.
Contact Center
Coastal Credit Union, PO Box 58429, Raleigh, NC 27658
Member Services - Death Claims
Coastal Credit Union, PO Box 58429, Raleigh, NC 27658
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