How to name beneficiaries and fund a trust at Consumers CU
Covers 7 deposit, 5 retirement, 1 investment, and 9 lending accounts — beneficiaries must be updated in-branch
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 May 2026
The goal with your Consumers CU accounts is to make sure every account has a transfer mechanism in place—either a POD beneficiary designation or trust ownership. Because Consumers 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.
Each of Consumers CU's 22 accounts has different rules for how it transfers at death. The sections below explain the options for each.
Free Rewards CheckingFree CheckingStudent Choice CheckingMembership SavingsSmart SaverMoney Market AccountRegular Certificate
1
Visit any CCU branch with a valid, unexpired government-issued photo ID
2
Request to add or update Payable on Death (POD) beneficiary designations on your deposit account(s)
3
Provide beneficiary information:
- Full legal name
- Date of birth
- Social Security number
- Relationship to account holder
4
Specify primary and contingent beneficiaries with percentage allocations
5
Complete and sign the beneficiary designation form
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- POD (Payable on Death) available for deposit accounts (checking, savings, money market, certificates)
- Joint accounts with right of survivorship pass to the surviving owner(s)
- IRA beneficiary designations are separate from deposit account POD designations
- POD or trust beneficiary/payee designations do not apply to Individual Retirement Accounts (IRAs)
- Review and update beneficiary information periodically, especially after major life events
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 May 2026
Estate planning articles
Learn how to protect your Consumers CU accounts and other assets with trusts, beneficiary designations, and estate planning documents.
