What to do when a Consumers CU account holder dies
Contact Consumers CU's Investment Services (via LPL Financial / TruStage) — 6-step process, 6 required documents, and pod and joint accounts processed upon verification of death certificate and identification. estate accounts depend on probate court timelines. ncua share insurance continues to cover joint and pod funds for up to six months following the date of death.
Member Services
Phone877-275-2228
Mailing Address
300 N Field Dr., Lake Forest, IL 60045
WebsiteLearn more→
Investment Services (via LPL Financial / TruStage)
WebsiteLearn more→
Death Claims / Member Services
Phone877-275-2228
Mailing Address
300 N Field Dr., Lake Forest, IL 60045
Verified Jul 2026
The Investment Services (via LPL Financial / TruStage) at Consumers 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.
Begin by calling Consumers CU at 877-275-2228. You will need the deceased's full name, account numbers, and a certified death certificate to get the process started.
Death claim process
The death claim process at Consumers CU works as follows:
Filing a claim
1
Contact CCU at 877.275.2228 or visit any branch to notify the credit union of the member's passing so pending transactions can be stopped (Membership and Account Agreement sec. 30, "Death or Incompetence")
2
Provide a certified copy of the death certificate
3
CCU will review the account structure to determine the appropriate settlement path
4
Settlement paths based on account type:
- For joint accounts with rights of survivorship: all sums pass to the surviving owner(s), whose interest remains subject to CCU's statutory lien for the deceased owner's obligations (Agreement sec. 3a)
- If a POD/trust beneficiary exists: on the death of the last owner, funds are payable to all surviving beneficiaries in equal shares (unless state law provides otherwise) upon providing death certificate and government-issued photo ID (Agreement sec. 4)
- For trust accounts: successor trustee provides the trust document or certification of trust, death certificate, and trust EIN
- If no joint owner, POD beneficiary, or trust: the estate goes through probate; present Letters Testamentary or Letters of Administration
- For small estates: a Small Estate Affidavit may be accepted under Illinois law (755 ILCS 5/25-1) -- for decedents dying on or after August 15, 2025 the personal-estate limit is $150,000 (excluding vehicles registered with the Illinois Secretary of State); $100,000 for earlier deaths
5
For IRA accounts: beneficiaries complete distribution election forms
6
Power of Attorney becomes void at death and cannot be used to settle accounts
Required Documents
- Certified copy of the death certificate
- Government-issued photo ID for beneficiary, joint owner, or personal representative
- Letters Testamentary or Letters of Administration (if no POD beneficiary; issued by probate court)
- Small Estate Affidavit (if the estate qualifies under Illinois law, 755 ILCS 5/25-1: personal estate $150,000 or less for deaths on/after August 15, 2025, $100,000 for earlier deaths)
- Trust documents and trust EIN (if trust-owned account)
- IRA beneficiary distribution election forms (for retirement accounts)
What to know at this institution
Under the Membership and Account Agreement sec. 30 ("Death or Incompetence"), CCU may continue to honor checks or drafts drawn on the deceased member's account for up to ten days after death unless someone claiming an interest instructs it to stop payment, and may require anyone claiming a deceased owner's funds to indemnify it against losses; the Agreement is binding on the heirs and legal representatives of any owner. CCU partners with GreenPath for free debt counseling and financial consulting. For loan accounts, CCU will determine if the member had credit life and disability insurance and submit a claim with the insurance company if applicable. CCU cannot provide legal, tax, or estate planning advice.
Prepare your letter of instruction to Consumers CU
Consumers CU accepts a claimant-drafted letter of instruction. We draft it for you — addressed to Consumers CU's verified claims department, with the documents it requires enclosed.
Build your letter of instructionExpected timelines at Consumers CU: POD and joint accounts processed upon verification of death certificate and identification. Estate accounts depend on probate court timelines. NCUA share insurance continues to cover joint and POD funds for up to six months following the date of death. Delays are almost always caused by incomplete paperwork—gathering all required documents before filing the initial claim helps avoid back-and-forth.
Consumers CU requires several documents to process a claim, including Certified copy of the death certificate, Government-issued photo ID for beneficiary, joint owner, or personal representative, and Letters Testamentary or Letters of Administration (if no POD beneficiary; issued by probate court), and additional documentation depending on the account type. Certified copies are typically needed—photocopies are generally not accepted for death certificates or court documents.
Frequently asked questions
Visit any CCU branch with a valid government-issued photo ID or call 877.275.2228. You can add Payable on Death (POD) beneficiaries to deposit accounts including checking, savings, money market, and certificates. For IRA accounts, contact CCU to update IRA-specific beneficiary designations, which are separate from deposit account POD designations. POD or trust beneficiary/payee designations do not apply to Individual Retirement Accounts (IRAs).
Contact CCU at 877.275.2228 or visit any branch. You will need a certified copy of the death certificate. The settlement process depends on the account structure: joint accounts pass to the surviving owner, accounts with POD beneficiaries transfer directly to the named individuals upon verification, and accounts without either require probate proceedings with Letters Testamentary or Letters of Administration. For small estates, a Small Estate Affidavit may be accepted under Illinois law (755 ILCS 5/25-1); the personal-estate limit is $150,000 for decedents dying on or after August 15, 2025 (excluding vehicles registered with the Illinois Secretary of State), and $100,000 for earlier deaths. Under the Membership and Account Agreement, Power of Attorney becomes void at death and cannot be used to settle accounts.
CCU deposit accounts are federally insured by the National Credit Union Administration (NCUA) up to $250,000 per ownership category, backed by the full faith and credit of the United States Government. Trust and POD account structures can provide additional insurance coverage by establishing separate ownership categories. NCUA share insurance continues to cover joint and POD funds for up to six months following a member's death.
Consumers CU's Death Claims / Member Services can be reached by phone at 877-275-2228 for questions throughout the claims process.
Multiple Consumers CU accounts may mean multiple claims. Some account types can be processed together, but others require their own documentation. Check with the Investment Services (via LPL Financial / TruStage) to confirm what applies.
Sources
Data sourced from Consumers CU primary sources (21 pages reviewed). How we research.
Member Services
Phone877-275-2228
Mailing Address
300 N Field Dr., Lake Forest, IL 60045
WebsiteLearn more→
Investment Services (via LPL Financial / TruStage)
WebsiteLearn more→
Death Claims / Member Services
Phone877-275-2228
Mailing Address
300 N Field Dr., Lake Forest, IL 60045
Verified Jul 2026
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