Estate planning at Cobalt CU

Yes. A trust can be named as a POD beneficiary on deposit accounts. You will need the full legal name of the trust and its tax identification number. Alternatively, you can retitle accounts directly into the name of the trust by providing trust documentation at a branch. The individual establishing the trust (the Settlor) must be a member of the credit union.

Cobalt partners with Legal Karma to offer estate planning document services to members, accessible through online banking on a desktop browser. Available documents include Last Will and Testament, Revocable Living Trust, Pour-over Will, General Durable (Financial) Power of Attorney, Medical Power of Attorney, HIPAA Authorization, Living Will/Advanced Directive, Declaration of Appointment of Guardian, Appointment of Agent to Control Disposition of Remains, and Certificate of Trust. Documents are completed at your own pace and ready for review within 3-5 business days. Phone support: (402) 988-1542.

Visit any branch with trust document pages showing the trust name, establishing signatures, and trustee designations, along with the trust's SSN or EIN and government-issued ID for each trustee. A Certificate of Trust is also accepted. Accounts can be titled in the trust name for savings, checking, money market, and certificate account types. Cobalt CU does not act as trustee and does not monitor or enforce the terms of the trust.

IRA beneficiary designations use a separate form from POD designations on deposit accounts. Contact Cobalt CU at (402) 292-8000 (toll-free (800) 228-0392) or visit any branch to complete an IRA beneficiary designation form. A trust can be named as the IRA beneficiary, but IRAs cannot be retitled into a trust. Cobalt Wealth Management (LPL Financial) also offers investment IRAs with their own beneficiary designation process.

Membership is open to individuals who live, work, worship, attend school, or regularly do business in eligible counties. Nebraska counties: Cass, Dodge, Douglas, Lancaster, Sarpy, Saunders, and Washington. Iowa counties: Carroll, Crawford, Harrison, Ida, Mills, Monona, Pottawattamie, Sac, and Shelby. Employees and retirees of SpartanNash grocery stores are also eligible. Immediate family members of current members qualify. A $5 minimum deposit in a Share Savings account establishes membership. Veterans may also be eligible through the Veterans Benefit Banking Program (VBBP).

Cobalt offers four checking accounts: Cobalt Elite Checking (3.25% APY on balances up to $20,000 with 15 monthly debit purchases of $500+, direct deposit, and e-statements), Cobalt Blue Checking (1.50% APY on balances up to $10,000 with 10 monthly debit purchases of $250+, direct deposit, and e-statements), Cobalt Free Checking (no dividends, no minimum balance), and Student Spend Account (ages 13-25, no fees). All accounts include no monthly service fees and instant-issue Mastercard debit cards at branches.