How to name beneficiaries and fund a trust at First Community CU
Covers 13 deposit, and 2 retirement accounts — beneficiaries must be updated in-branch
111 9th Street SW, Jamestown, ND 58401
111 9th Street SW, Jamestown, ND 58401
Member Services — First Community has no separate estate or death-claim department; the main member line and any branch handle deceased-member accounts
First Community Credit Union, PO Box 2180, Jamestown, ND 58402-2075
The goal with your First Community CU accounts is to make sure every account has a transfer mechanism in place—either a POD beneficiary designation or trust ownership. Because First Community CU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Accounts without either one will require probate, which means court involvement and delays for your family.
First Community CU has 15 product types, and the estate transfer rules differ across them. Some support Payable on Death (POD) designations, some can be retitled into a trust, and others will require probate if nothing is set up. Each is covered below.
- POD (Payable on Death) form for deposit accounts
- Separate IRA beneficiary designation form for IRA accounts
- Full legal name and date of birth
- Social Security number
- Relationship to account holder
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- POD designations available for deposit accounts (checking, savings, certificates, money market)
- IRA accounts require a separate beneficiary designation; POD is not applicable to IRAs
- Under North Dakota Uniform Probate Code (NDCC 30.1-31), POD designations cause funds to pass directly to surviving beneficiaries, bypassing probate
- Online beneficiary designation is not available; must use branch, phone, or mail
- A trust may be named as POD beneficiary on deposit accounts
- NCUA coverage up to $250,000 per POD beneficiary
Sources
Data sourced from First Community CU primary sources (22 pages reviewed). How we research.
Download these First Community CU instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against First Community CU primary sources. Bring it to the branch or keep it beside the phone.
111 9th Street SW, Jamestown, ND 58401
111 9th Street SW, Jamestown, ND 58401
Member Services — First Community has no separate estate or death-claim department; the main member line and any branch handle deceased-member accounts
First Community Credit Union, PO Box 2180, Jamestown, ND 58402-2075
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