What to do when a CU1 account holder dies
Contact CU1's Member Services — 5-step process, 7 required documents, and 5-10 business days after all documentation is received, though complex estates may take longer
Member Services
Credit Union 1, 1941 Abbott Road, Anchorage, AK 99507
Member Services
Credit Union 1, 1941 Abbott Road, Anchorage, AK 99507
Member Services (Death Claims)
Credit Union 1, 1941 Abbott Road, Anchorage, AK 99507
After a member of CU1 dies, the Member Services (Death Claims) manages the transfer of accounts. POD-designated and trust-owned accounts pass directly to beneficiaries. Accounts held solely in the member's name may require probate court documents—Letters Testamentary or Letters of Administration—before funds can be released.
CU1 provides an online portal for initiating death claims, which can simplify the initial notification and document submission process. Claims can also be started by phone or by mailing the required documents.
Deposit, investment & retirement accounts
Here is the step-by-step death claim process at CU1:
Filing a claim
- Certified copy of the death certificate
- Valid government-issued photo ID for the claimant
- For accounts with POD beneficiary: provide the death certificate and beneficiary ID to claim funds directly
- For joint accounts with right of survivorship: provide the death certificate; surviving owner retains access to the account
- For accounts without beneficiary or survivorship: obtain Letters Testamentary, Letters of Administration, or a Small Estate Affidavit from the court and provide along with the executor or administrator's ID
Required Documents
- Certified copy of the death certificate
- Valid government-issued photo ID for the claimant (beneficiary, executor, or administrator)
- Account information for the deceased (account numbers if available)
- For accounts without beneficiary: Letters Testamentary or Letters of Administration from the court
- For small estates: Alaska Affidavit for Collection of Personal Property (Form P-110), available 30 days after death when non-vehicle personal property is $50,000 or less (AS 13.16.680)
- For trust accounts: trust documentation including successor trustee provisions and trustee ID
- For IRA accounts: IRA beneficiary claim forms and applicable distribution election forms
What to know at this institution
Visiting a local branch is the most direct way to initiate the estate settlement process. A Credit Union 1 representative can help open an estate account if needed to manage proceeds and pay estate obligations. Under Alaska law (AS 13.16.680), collection of personal property by affidavit is available when at least 30 days have passed since death, no probate is pending or granted, and the estate consists only of registered vehicles worth $100,000 or less and other personal property (which includes credit union deposit accounts) worth $50,000 or less, in each case after debts and liens. A credit union account is "other personal property," so the $50,000 cap applies to deposit balances. The Alaska Court System affidavit form is Form P-110.
Mortgage and home lending
Mortgages and home equity loans are liabilities, not assets. They do not have beneficiaries and cannot be retitled to a trust. When a borrower dies, the loan obligation transfers with the property to whoever inherits it. Under the federal Garn-St. Germain Act, the lender cannot accelerate the loan or call it due when the property transfers to a surviving spouse, child, or the borrower’s revocable trust.
- Deceased borrower's full legal name, Social Security number, and loan number
- Certified copy of the death certificate
- Continue making payments on the existing loan
- Refinance in your own name
- Pay off the remaining balance
Required Documents
- Certified copy of the death certificate
- Government-issued photo ID for the heir or personal representative
- Documentation proving ownership interest in the property: probated will, court order, recorded deed, or trust document showing you as successor trustee or beneficiary
- Letters Testamentary or Letters of Administration (if going through probate)
- Marriage certificate (if surviving spouse)
What to know at this institution
Under the federal Garn-St. Germain Depository Institutions Act (12 U.S.C. § 1701j-3), Credit Union 1 cannot enforce a due-on-sale clause when the property transfers to a surviving spouse, child, relative upon death, or the borrower's revocable living trust. Contact Member Services at (907) 339-9485 or toll-free at (800) 478-2222 for mortgage-related estate questions.
Prepare your letter of instruction to CU1
CU1 accepts a claimant-drafted letter of instruction. We draft it for you — addressed to CU1's verified claims department, with the documents it requires enclosed.
Build your letter of instructionExpected timelines at CU1: 5-10 business days after all documentation is received, though complex estates may take longer. Delays are almost always caused by incomplete paperwork—gathering all required documents before filing the initial claim helps avoid back-and-forth.
CU1 requires several documents to process a claim, including Certified copy of the death certificate, Valid government-issued photo ID for the claimant (beneficiary, executor, or administrator), and Account information for the deceased (account numbers if available), 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
When a member with a POD (Payable on Death) designation dies, the named beneficiary can claim the account funds by visiting a Credit Union 1 branch with a certified copy of the death certificate and a valid government-issued photo ID. POD accounts bypass the probate process and pass directly to the named beneficiary.
A POD designation allows you to name a beneficiary on your Credit Union 1 checking, savings, or certificate accounts. When the account owner dies, the named beneficiary can claim the funds by presenting a certified death certificate and valid photo ID at a CU1 branch. POD accounts bypass the probate process entirely.
If a Credit Union 1 account has no POD beneficiary, no joint owner with right of survivorship, and is not held in a trust, the account becomes part of the deceased member's estate. A court-appointed executor or administrator must provide Letters Testamentary or Letters of Administration to claim the funds. Alaska also allows collecting personal property by affidavit without opening a probate case (AS 13.16.680): at least 30 days must have passed since death, no probate can be pending or granted, and the estate must consist only of registered vehicles worth $100,000 or less and other personal property (including deposit accounts) worth $50,000 or less, after debts and liens. The Alaska Court System form is the Affidavit for Collection of Personal Property (Form P-110).
Yes. Credit Union 1 offers Health Savings Accounts (HSAs) for members enrolled in a qualifying high-deductible health plan. CU1 describes the HSA as a tool that can supplement retirement income and cover qualified medical expenses and insurance premiums during retirement. An HSA cannot be retitled to a trust, so the way to control HSA assets after death is the named beneficiary on the account. If no beneficiary is named, the HSA passes to the estate. Call (907) 339-9485 or (800) 478-2222 or visit a branch to open or update an HSA.
CU1's Member Services (Death Claims) can be reached by phone at 1-800-478-2222 for questions throughout the claims process.
When the deceased had multiple CU1 accounts, some may need separate claims while others can be handled together. The Member Services (Death Claims) can clarify what's needed for each account type.
Sources
Data sourced from CU1 primary sources (16 pages reviewed). How we research.
Member Services
Credit Union 1, 1941 Abbott Road, Anchorage, AK 99507
Member Services
Credit Union 1, 1941 Abbott Road, Anchorage, AK 99507
Member Services (Death Claims)
Credit Union 1, 1941 Abbott Road, Anchorage, AK 99507
Estate planning articles
Learn how to protect your CU1 accounts and other assets with trusts, beneficiary designations, and estate planning documents.
Is this your situation?
Get a complete guide for your specific circumstances.
More tools for handling this estate
Calculators and checklists for executors and trustees.
How Much Does Probate Cost?
Estimate attorney fees, executor fees, court costs, and timeline for probating an estate in your state. See if the estate qualifies for simplified probate procedures.
How Much Can an Executor Charge?
Calculate how much an executor (personal representative) can charge for administering an estate. See if your state has statutory fees or uses reasonable compensation.
Who Inherits Without a Will?
Find out who inherits your estate and how much they get if you die without a will. Based on your state's intestate succession laws.
What's Fair Trustee Compensation?
Find out what's fair compensation for serving as trustee. Compare family, professional, and corporate trustee rates based on your situation.
How Much Are Estate & Inheritance Taxes?
Calculate federal estate tax, state estate tax (12 states + DC), and inheritance tax (5 states) for an estate or trust.
How Many Death Certificates Do I Need?
Calculate how many certified death certificates you need based on the assets and accounts you need to close. See state-specific ordering information.
