What to do when a First Community CU (ND) account holder dies
Report the death to First Community CU (ND)'s Member Services at 1-800-850-7676
After a member of First Community CU (ND) 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.
To start, call First Community CU (ND) at 1-701-252-0360. Have the account holder's full name, account numbers, and the death certificate ready before you call.
Death claim process
Here is the step-by-step death claim process at First Community CU (ND):
Filing a claim
- Payable-on-death beneficiary: ID plus the death certificate
- Surviving joint owner
- Personal representative: Letters Testamentary or Letters of Administration
- Successor trustee: the trust agreement or Certificate of Trust plus trustee ID
Required Documents
- Certified copy of the death certificate
- Government-issued photo ID, for each beneficiary or claimant
- The member numberOr enough identifying information to locate the membership. The member number is separate from the checking account number on the member's checks.
- Letters Testamentary or Letters of Administration, when the account has no payable-on-death designation and no joint owner
- Affidavit for Collection of Personal Property, for a small estate that qualifies for collection by affidavitFirst Community may accept the affidavit in place of Letters.
- Trust agreement or Certificate of Trust, and trustee identification, when a trust is named as beneficiary or owns the account
What happens to each kind of account7
- Joint account with survivorship
The surviving joint owner continues to use the account normally.1
- Payable-on-death account
On a single-owner account with a payable-on-death designation, the account is closed and the funds are paid directly to the named beneficiaries.1
- Account in one name
On a single-owner account without a payable-on-death designation, the funds go to the estate, and the executor provides Letters Testamentary or Letters of Administration.1
- Certificate of deposit
Each certificate, including Add-A-Buck and Maximizer Flex CDs, carries its own payable-on-death designation.1
- IRA
Traditional and Roth IRAs pay under their own beneficiary designation rather than a payable-on-death designation. The beneficiary provides a certified death certificate and completes IRA distribution paperwork.1
- Health savings account
A health savings account pays under its own beneficiary designation rather than a payable-on-death designation.1
- Credit card
The Consumer Credit Card Agreement makes the cardholder's death a default: "You will be in default under this Agreement if You ... file for bankruptcy; or die." First Community can then close the card and call the unpaid balance immediately.2
What First Community CU (ND)'s agreement and guidance say2
- Debts owed to the institution
Under the credit card agreement, First Community can apply the balance in the member's individual or joint share and deposit accounts to what is due on the card. Its security interest excludes shares and deposits in an IRA or any other account that would lose special tax treatment if pledged.2
- Membership
Every member holds a $5 par-value share (membership savings) account that established membership. It is closed with the rest of the relationship.1
Not in First Community CU (ND)'s published guidance2
- A claim form
- A department for deceased-customer accounts
Sources2
Joint accounts transfer immediately. Payable-on-death accounts are typically processed within 2-4 weeks.
First Community CU (ND)'s Member Services can be reached by phone at 1-800-850-7676 and fax at 1-701-253-5133 for questions throughout the claims process.
Sources
(2)·
Data sourced from First Community CU (ND) primary sources (15 pages reviewed). How we research.
First Community CU (ND) death claims support
Member Services
Phone
Toll-free
Fax
Mailing address
Website
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