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
Phone1-907-339-9485
Toll-Free1-800-478-2222
Emailmembermail@cu1.org
Mailing Address
Credit Union 1, 1941 Abbott Road, Anchorage, AK 99507
WebsiteLearn more→
Member Services
Phone1-907-339-9485
Toll-Free1-800-478-2222
Mailing Address
Credit Union 1, 1941 Abbott Road, Anchorage, AK 99507
WebsiteLearn more→
Member Services (Death Claims)
Phone1-907-339-9485
Toll-Free1-800-478-2222
Mailing Address
Credit Union 1, 1941 Abbott Road, Anchorage, AK 99507
WebsiteNotify online→
Verified May 2026
After a CU1 member dies, the Member Services 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
1
Notify Credit Union 1 of the member's death by visiting a local branch or calling (907) 339-9485 or toll-free (800) 478-2222
2
Gather required documentation:
- Certified copy of the death certificate
- Valid government-issued photo ID for the claimant
3
Choose the appropriate settlement path:
- 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
4
If needed, open an estate account at a Credit Union 1 branch to manage estate proceeds and pay bills
5
Credit Union 1 will review submitted documentation and process the claim
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: Small Estate Affidavit as permitted under Alaska Statutes (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
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, small estates valued at $100,000 or less in personal property may qualify for simplified affidavit procedures (AS 13.16.680).
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.
1
Notify Credit Union 1 of the borrower's death by calling Member Services at (907) 339-9485 or toll-free at (800) 478-2222
2
Provide initial information:
- Deceased borrower's full legal name, Social Security number, and loan number
- Certified copy of the death certificate
3
Request information about Successor in Interest documentation from the loan servicing department
4
Complete and return any required Successor in Interest forms with supporting documentation proving your ownership interest in the property (e.g., probated will, court order, deed, or trust document)
5
Credit Union 1 will review your documentation and confirm your status as a Successor in Interest
6
Once confirmed, choose from available options:
- Continue making payments on the existing loan
- Refinance in your own name
- Pay off the remaining balance
7
Continue making monthly mortgage payments during the review process to avoid default
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)
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.
Expected 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. Under Alaska law (AS 13.16.680), small estates valued at $100,000 or less in personal property may qualify for a simplified Small Estate Affidavit procedure.
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 can clarify what's needed for each account type.
Member Services
Phone1-907-339-9485
Toll-Free1-800-478-2222
Emailmembermail@cu1.org
Mailing Address
Credit Union 1, 1941 Abbott Road, Anchorage, AK 99507
WebsiteLearn more→
Member Services
Phone1-907-339-9485
Toll-Free1-800-478-2222
Mailing Address
Credit Union 1, 1941 Abbott Road, Anchorage, AK 99507
WebsiteLearn more→
Member Services (Death Claims)
Phone1-907-339-9485
Toll-Free1-800-478-2222
Mailing Address
Credit Union 1, 1941 Abbott Road, Anchorage, AK 99507
WebsiteNotify online→
Verified May 2026
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