Preparing your Delta Community CU accounts for estate transfer involves two key steps: designating beneficiaries on each account and, where appropriate, retitling accounts into a trust. Because Delta Community CU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Accounts with Payable on Death designations or trust ownership bypass probate entirely.

With 11 product types, Delta Community CU offers a range of transfer options. Some accounts support Payable on Death (POD) designations, others can be retitled into a trust, and some require probate if no beneficiary is designated. The sections below break down each step.

Personal Savings AccountAdditional Savings AccountFree CheckingInterest CheckingSpendSafe CheckingPersonal Money Market AccountCertificate of Deposit

1Visit any Delta Community branch location (Monday-Friday 8:30 AM - 4:30 PM)

2Request the Designation of Savings, Checking, and/or CD Beneficiary form (for deposit accounts) or the IRA Change of Beneficiary form (for IRAs)

3Provide each beneficiary's name, Social Security number, date of birth, and desired percentage

4For a trust beneficiary: provide the trust name including the date established and the trust Tax ID Number

5The primary member and all joint owners must sign the form

6Submit the signed form to the branch representative

Required Documents

Trust name, date established, and tax ID (EIN or SSN)

Special Requirements

The beneficiary cannot be a joint owner of the same account
If more than one beneficiary is named on a deposit account, all surviving beneficiaries receive equal shares
IRA beneficiary designations supersede instructions in a will or trust
Trusts may be named as POD beneficiary; trust name must include the date the trust was established
Non-person entities (trusts, charities) require a Tax ID Number
Neglecting to name an IRA beneficiary may result in assets passing through probate and mandatory distribution within five years
Separate forms are used for deposit accounts versus IRA accounts
POD designations on business accounts are only allowed on Sole Proprietorships; not available for Partnerships, LLCs, or Corporations
HSA and Coverdell ESA accounts have their own separate beneficiary designation forms available at deltacommunitycu.com/home/forms.html