How to name beneficiaries and fund a trust at ESL Federal CU
Beneficiaries are managed in branch or by mail. Trust paperwork is taken in branch or by mail
Preparing your ESL Federal CU accounts for estate transfer involves two key steps: designating beneficiaries on each account and, where appropriate, retitling accounts into a trust. Because ESL Federal 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.
Across 18 product types, ESL Federal CU accounts vary in how they transfer at death. The sections below walk through Payable on Death (POD) designations, trust funding options, and which products support each method.
Beneficiary form at ESL Federal CU
ESL account beneficiary designation.
- Government-issued photo ID
- The beneficiary designation ESL issues at the branch (there is no downloadable form)
- Full legal names and identifying information for each intended beneficiary
- Include all required beneficiary information
- All account owners must sign
Required Documents
- Full legal name and identifying information for each beneficiary
- Government-issued photo ID (at a branch)
- Additional documentation, where ESL requires it (for certain accounts with beneficiaries). The deposit agreement says ESL "will require additional documentation for certain accounts established by trusts or accounts with beneficiaries."
- Trust document or certification of trust
- Government-issued ID for all trustees
- Trust TIN/EIN and trustee Social Security numbers
- Copy of the trust document or certification of trust
- Copies of government-issued ID for all trustees
- Trust TIN/EIN and trustee Social Security numbers
Required Documents
- Trust document or certification of trust. ESL takes either the full trust agreement (revocable or irrevocable) or a certification of trust
- Government-issued ID (for all trustees). By mail, send copies
- Trust tax identification number (TIN/EIN)
- Social Security numbers (for acting trustees)
- Government-issued photo ID
- The beneficiary designation ESL issues at the branch (there is no downloadable form)
- Full legal names and identifying information for each intended beneficiary
- Include all required beneficiary information
- All account owners must sign
Required Documents
- Full legal name and identifying information for each beneficiary
- Government-issued photo ID (at a branch)
- Additional documentation, where ESL requires it (for certain accounts with beneficiaries). The deposit agreement says ESL "will require additional documentation for certain accounts established by trusts or accounts with beneficiaries."
- Trust document or certification of trust
- Government-issued ID for all trustees
- Trust TIN/EIN and trustee Social Security numbers
- Copy of the trust document or certification of trust
- Copies of government-issued ID for all trustees
- Trust TIN/EIN and trustee Social Security numbers
Required Documents
- Trust document or certification of trust. ESL takes either the full trust agreement (revocable or irrevocable) or a certification of trust
- Government-issued ID (for all trustees). By mail, send copies
- Trust tax identification number (TIN/EIN)
- Social Security numbers (for acting trustees)
- Government-issued photo ID
- The beneficiary designation ESL issues at the branch (there is no downloadable form)
- Full legal names and identifying information for each intended beneficiary
- Include all required beneficiary information
- All account owners must sign
Required Documents
- Full legal name and identifying information for each beneficiary
- Government-issued photo ID (at a branch)
- Additional documentation, where ESL requires it (for certain accounts with beneficiaries). The deposit agreement says ESL "will require additional documentation for certain accounts established by trusts or accounts with beneficiaries."
What ESL Federal CU says about beneficiaries and trusts
Each section is ESL Federal CU's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary4
- Payable-on-death account
Beneficiary designations apply to deposit accounts, including checking, savings, Money Maker and certificates.1
- IRA
An IRA uses its own beneficiary designation, so a deposit-account designation does not reach it. The deposit agreement says IRA, health savings and trust accounts "may have special rules which will be given to you separately."2
- Health savings account
A health savings account uses its own beneficiary designation, so a deposit-account designation does not reach it.2
- Coverdell education savings account
A Coverdell education savings account uses its own beneficiary designation, so a deposit-account designation does not reach it.1
What a designation takes to be effective
- All accounts
All account owners must sign the designation.1
Beneficiary forms ESL Federal CU issues1
- ESL account beneficiary designation
Completed by all account owners. Sent by the institution on request.1
Return to
Mailing address: ESL Federal Credit Union, 225 Chestnut Street, Rochester, NY 14604
What ESL Federal CU's agreement says about beneficiaries4
- Joint accounts
Funds in an account with beneficiaries are paid on request directly to the named beneficiaries. On a jointly owned account they go to the joint owner or owners first, and "only upon the death of all account owners are funds disbursed to designated beneficiaries."3
- A minor as beneficiary
If a beneficiary is under 18 and the funds are $10,000 or more, ESL pays only the court-appointed guardian of the minor's property. Under $10,000, ESL pays either a court-appointed guardian or the minor's parents.3
- Claims against the account
A beneficiary designation does not defeat ESL's claim on the money: a deceased owner's accounts remain subject to the credit union's statutory lien and right of offset for debts the deceased owed ESL.1
- Indemnity the owner or a trustee gives
ESL may require anyone claiming a deceased owner's account funds to indemnify it for any losses from honoring that claim.1
Trust account forms ESL Federal CU issues1
- Trust account application
Sent by the institution on request.4
Return to
Mailing address: ESL Federal Credit Union, 225 Chestnut Street, Rochester, NY 14604
What ESL Federal CU says about trust accounts2
- Membership
The deposit agreement says "a revocable trust may open an account only if the trust's grantor is a member of the credit union."2
An irrevocable trust may open an account when either its grantor is a member or all of its beneficiaries qualify for membership. ESL may require a trust to name its beneficiaries in order to attach their names to the trust's accounts.2
- Review of the trust document
The deposit agreement says ESL "will require additional documentation for certain accounts established by trusts."2
Accounts handled elsewhere1
- ESL Trust Services, LLC
Trust administration, fiduciary investment management, estate settlement and corporate trustee or executor services5
Phone: 1-585-336-1300
TTY: 1-585-336-1399
Hours: Monday-Friday 8:00 AM-5:00 PM ET
Mailing address: 225 Chestnut Street, Rochester, NY 14604
Not in ESL Federal CU's published guidance2
- A beneficiary form to download
- Downloadable trust certification form
Sources5
- 1.ESL guidance on accounts with beneficiaries
- 2.Savings and Checking Disclosure (form 20-4111C), 7/26
- 3.Saying Goodbye is Never Easy (settlement booklet)
- 4.ESL trust account guidance
- 5.ESL Trust Services
Sources
Data sourced from ESL Federal CU primary sources (23 pages reviewed). How we research.
Download these ESL Federal CU instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against ESL Federal CU primary sources. Bring it to the branch or keep it beside the phone.
ESL Federal CU estate support
ESL Trust Services, LLC (limited purpose trust company chartered by the New York Department of Financial Services)
Phone
ESL Trust Services management (complaints)
New York State Department of Financial Services
Hours
Mailing address
Website
Estate planning articles
Learn how to protect your ESL Federal CU accounts and other assets with trusts, beneficiary designations, and estate planning documents.
Is this your situation?
Get a complete guide for your specific circumstances.
New Baby or Adoption
Your family is growing. Your protection should too. Guardian nominations, trusts for minors, beneficiary updates, and the documents new parents need in place.
Learn more
Marriage
What married couples need in place: one joint trust or two, wills, beneficiary updates, and the spousal rights your state grants you automatically.
Learn more
New Home
How to put your house in a revocable trust: the deed you record, what it does to your mortgage and property taxes, and when a TOD deed is simpler.
Learn more
Retirement
Retirement changes your financial picture. Healthcare directives, beneficiary reviews, long-term care planning, and protecting what you've built.
Learn moreForms for Planning Your Estate
Free forms for planning your estate: a will, living trust, pour-over will, both powers of attorney, living will, and TOD deed.
Revocable Living Trust
Create a revocable living trust to avoid probate, protect privacy, and control asset distribution.
Last Will and Testament
Name your heirs, guardians, and final wishes. Free for every state.
Transfer on Death Deed
Transfer real property to a beneficiary upon your death without probate. Available in 34 states and the District of Columbia.
Tools for Planning Your Estate
Free tools for planning your estate: what a will or trust costs, whether you need a trust or TOD deed, and how documents are signed.
How Much Does a Revocable Living Trust Cost?
Compare revocable living trust costs across providers including online services and attorneys.
How Does SimplyTrust Compare to LegalZoom, Trust & Will, and Other Services?
Compare what it costs to make a trust official across SimplyTrust, LegalZoom, Trust & Will, Rocket Lawyer, and Quicken WillMaker.
Do I Need a Revocable Trust?
Find out if a revocable trust makes sense based on your state, estate value, and family situation.
Trust or Will: Which Costs Less?
Compare the cost of probate vs a trust for your state and estate value.
What Does Estate Planning Actually Cost?
Compare costs across estate planning providers including online services and attorneys.
How Much Life Insurance Do I Need?
Calculate your life insurance needs based on income, debts, and family situation.
