How to name beneficiaries and fund a trust at Congressional FCU
Covers 11 deposit, and 4 retirement accounts — beneficiaries must be updated in-branch
Member Services
Congressional Federal Credit Union, PO Box 2408, Merrifield, VA 22116-2408
Member Services
Congressional Federal Credit Union, PO Box 2408, Merrifield, VA 22116-2408
Member Services - Death Claims
Congressional Federal Credit Union, PO Box 2408, Merrifield, VA 22116-2408
There are two ways to keep your Congressional FCU accounts out of probate: adding Payable on Death designations and retitling accounts into a trust. Because Congressional 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.
Congressional FCU has 15 accounts with different estate transfer rules. Here is how beneficiary designations, trust ownership, and probate apply to each one.
- POD Beneficiary form for deposit accounts
- IRA Beneficiary Designation Form for IRA accounts
- Full legal name, Social Security number, date of birth, and relationship
- Primary and contingent designations with percentage allocations
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- POD beneficiary form is for personal deposit accounts only; do not use for IRA accounts
- Changes to beneficiary designations must be in writing and signed by all living account owners
- Death benefits paid first to primary beneficiaries; contingent beneficiaries receive benefits only if no primary beneficiary survives the owner
- If multiple beneficiaries are named, funds transfer in equal proportion unless otherwise specified
- The most recently signed and dated designation form in the Credit Union's records controls distribution
- If additional beneficiaries are needed beyond the form, attach an addendum titled "Addendum to POD Beneficiary Designation"
- IRA beneficiary designations supersede instructions in a will or trust
Sources
Data sourced from Congressional FCU primary sources (20 pages reviewed). How we research.
Download these Congressional FCU instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Congressional FCU primary sources. Bring it to the branch or keep it beside the phone.
Member Services
Congressional Federal Credit Union, PO Box 2408, Merrifield, VA 22116-2408
Member Services
Congressional Federal Credit Union, PO Box 2408, Merrifield, VA 22116-2408
Member Services - Death Claims
Congressional Federal Credit Union, PO Box 2408, Merrifield, VA 22116-2408
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