What to do when a Commonwealth CU account holder dies
Report the death to Commonwealth CU's Contact Center at 1-800-228-6420
The Contact Center at Commonwealth CU coordinates account transitions after a member's death. How each account is handled depends on its setup: POD and trust accounts transfer automatically, while solely-owned accounts typically require court authorization through Letters Testamentary or Letters of Administration.
The claim process begins with a phone call to 1-502-564-4775. Have the account holder's full name, account numbers, and the death certificate available when making initial contact.
Death claim process
To file a claim after an account holder's death, here is what Commonwealth CU requires:
Filing a claim
- The estate EIN: IRS, (800) 829-4933, www.irs.gov
- Death certificates: Kentucky Office of Vital Statistics, (877) 817-7362, www.vitalchek.com
- Reporting the death and survivor benefits: Social Security Administration, (866) 964-1724, www.socialsecurity.gov
- A certified copy of the death certificate
- Valid government-issued photo ID for the claimant
- Documentation of authority (Letters Testamentary, Letters of Administration, or trust documents), if applicable
Required Documents
- Certified death certificate
- Government-issued photo ID for the claimant
- Letters Testamentary or Letters of Administration, if there is no payable-on-death beneficiary or joint ownerThe court-appointment document from the District Court Clerk's Office in the decedent's county of residence.
- EIN letter from the IRS for the estate, to open an estate account
- Trust documents, if a trust is named as beneficiary
- Petition to Dispense with Administration, if the estate qualifies for informal probate settlementCommonwealth directs members to obtain it from the Circuit Clerk's office. The court-appointment document for a full estate account comes from the District Court Clerk's Office.
What happens to each kind of account6
- Joint account with survivorship
A joint owner has full access both during the primary owner's life and after death, and funds are "available for immediate withdraw on any share under joint ownership." The surviving joint owner keeps full access after the deceased member is removed from the account.1
Joint owners "are not entitled to open loan accounts, open additional checking shares, or account closure," so a surviving joint owner cannot simply close the membership.1
- Payable-on-death account
A beneficiary is not an owner and "is not entitled to any services or information" until the primary owner (or both primary and joint owners) dies. A death certificate and valid photo ID must then be presented before funds are released; multiple beneficiaries are paid in equal shares.1
- Account in one name
Where there is no joint owner and no beneficiary, an estate account is required. The court-appointed executor or administrator presents government-issued photo ID, a copy of the death certificate, an EIN letter from the IRS for the estate, and a copy of the court-appointment document.1
- Fiduciary account
Only the estate representative may be named on an estate account.1
- Trust account
Commonwealth "is limited to offering and servicing Irrevocable/Revocable Living Trusts."1
- IRA
The beneficiary named on the separate Beneficiary Appointment form receives the IRA. The payable-on-death designation on deposit accounts does not control the IRA.1
State law on paying a balance without lettersKentucky
- Kentucky
KRS 391.030(2)
Kentucky law directs a credit union to pay from a deceased member's balance on an order of the court, without letters testamentary or letters of administration.KRS 391.030(2)Verified Oct 3, 2026View source
Paid to: surviving spouse
Limit: $2,500 in total from every holder
The section sets further conditions.
What Commonwealth CU's agreement and guidance say2
- Membership
Ownership is set share by share, not per membership: a joint owner or beneficiary "can be added to all shares or only those chosen by the Primary Owner." One share can pass at once while another in the same membership requires probate.1
- Powers of attorney
A power of attorney "becomes null and void upon the death of the Principal," and the agent's access ends at that moment. The funds then pass by joint ownership or beneficiary status, and otherwise to the decedent's estate.1
Not in Commonwealth CU's published guidance1
- A claim form
Joint accounts: immediate access. Payable-on-death accounts: within a few business days of document verification. Estate accounts: depends on the probate court.
Commonwealth CU's Contact Center can be reached by phone at 1-800-228-6420 for questions throughout the claims process.
Sources
(2)·
Data sourced from Commonwealth CU primary sources (14 pages reviewed). How we research.
Commonwealth CU death claims support
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Forms for Settling an Estate
Free forms for settling an estate: probate petition, small estate affidavit, creditor notice and closing forms. Prepare each form for your state.
Affidavit of Death
Put a joint owner's or a transfer on death deed owner's death on the land records with the affidavit your state's statute names, laid out for recording.
IRS Form 56
Notify the IRS that you are the fiduciary of an estate, a trust or a person, or end a notice filed before, on the official form.
Digital Assets Recovery Letter
Prepare a letter requesting a deceased person's online accounts, points, and balances from the program that holds them.
Petition for Probate and Letters
Open probate and ask the court to appoint you and issue Letters Testamentary or Letters of Administration.
Notice to Creditors
Notify estate creditors and start the claim period — the published notice plus mailed copies for known creditors.
Renunciation of Executor
Decline an appointment as executor named in a will — the writing filed with the court before anyone is appointed.
Tools for Settling an Estate
Free tools for settling an estate: whether probate is needed, executor and trustee pay, creditor deadlines and taxes. Run each tool for your state.
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