Estate planning and settlement at EECU

EECU offers 17 accounts, each with its own rules for what happens when a member dies. As a membership-based credit union, EECU membership open to anyone who lives, works, worships, or attends school in the Texas counties of Bosque, Collin, Dallas, Denton, Ellis, Erath, Hill, Hood, Jack, Johnson, Palo Pinto, Parker, Rockwall, Somervell, Tarrant, or Wise; to anyone who works for an educational institution, business, association, hospital, or municipality in the Fort Worth area (including Young county); to relatives of existing members; to employees of EECU select employer groups; and to anyone who joins through an EECU Community Foundation membership, whose fee EECU pays (https://eecu.org/about-us/about-eecu/membership-requirements). 22 financial centers across North Texas, plus access to more than 5,000 shared Service Centers and 85,000 ATMs nationwide (https://eecu.org/about-us/about-eecu). Membership eligibility matters at death: a successor trustee, POD payee, or executor who needs to hold funds at EECU rather than take a payout must qualify for membership, and the Account Opening Agreement reserves EECU's right to accept a revocable trust account "subject to such membership requirements as we may impose from time to time.". Some transfer automatically to a named beneficiary, others can be held in a trust, and a few may require probate if no plan is in place.

Beneficiary designations at EECU can be managed in branch, by phone, and by mail, typically taking 15 to 30 minutes. Trust funding is also available, allowing families to retitle accounts into the name of a revocable living trust.