Estate planning at First Community CU

Yes. Visit any First Community branch with your trust document (or Certificate of Trust), government-issued photo ID for all trustees, and the trust EIN or SSN. You will complete new account paperwork in the trust name. Existing accounts may need to be closed and reopened under the trust title. IRA, Coverdell ESA, and HSA accounts cannot be retitled to a trust but can name a trust as beneficiary (except Coverdell ESA). An alternative is to name your trust as POD beneficiary on personal deposit accounts.

Yes. While IRA accounts cannot be titled directly to a trust, you can name a trust as the beneficiary of your Traditional or Roth IRA using a separate IRA beneficiary designation form. Consult a tax advisor before doing so, as naming a trust as IRA beneficiary can have significant tax implications for distribution timelines and required minimum distributions. Contact First Community at 1-800-850-7676 for specific procedures.

Membership is open to North Dakota residents who live within a 75-mile radius of Jamestown, Devils Lake, Page, or Portland; within a 50-mile radius of Valley City, Oakes, Napoleon, Steele, Bismarck, Wahpeton, or Wishek; within a 40-mile radius of Bisbee or Larimore; or in Marshall County, MN, and portions of Kittson County, MN (within a 75-mile radius of 2315 North Acres Dr., Crookston, MN). Immediate family of an existing member also qualify regardless of location.

Both are free checking accounts requiring the same monthly qualifications (12 debit card purchases, eStatements enrollment, online banking login). Kasasa Cash earns 2.50% APY on balances up to $25,000 when qualifications are met, making it ideal for members who maintain higher checking balances. Kasasa Cash Back earns 3.00% cash back on debit card purchases (up to $7.50 per cycle, $90 annually) when qualifications are met, making it better for frequent debit card users. Both accounts offer nationwide ATM fee reimbursement up to $25 per cycle and pair with a free linked Kasasa Saver account.

First Community offers three certificate of deposit products. The standard CD has terms from 6 months to 5 years with a $1,000 minimum deposit. The Add-A-Buck CD is a 12-month term with a $100 minimum that allows unlimited additional deposits of $100 or more during the term. The Maximizer Flex CD is a 39-month term with a $5,000 minimum that allows one rate bump, one additional deposit ($5,000 minimum), and one partial withdrawal of up to half the balance during the term. All CDs are NCUA insured and can be retitled to a trust or have a POD beneficiary designation.