Preparing your First Community CU accounts for estate transfer involves two key steps: designating beneficiaries on each account and, where appropriate, retitling accounts into a trust. Because First Community 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.

First Community CU offers 13 accounts, each with its own transfer rules. The sections below cover how to set up beneficiaries, fund a trust, and which products support each approach.

Basic CheckingInterest CheckingRegular SavingsSecondary SavingsHoliday SavingsHigh Yield SavingsMoney Market SavingsMoney Market CheckingShare CertificateHealth Savings Account (HSA)Minor Savings

1Visit any First Community branch location

2Request a POD (Payable on Death) beneficiary designation form for deposit accounts

3For IRA accounts, request the separate IRA beneficiary designation form

4Provide each beneficiary's name, Social Security number, date of birth, and relationship

5Designate primary and contingent beneficiaries with percentage allocations

6Sign and submit the completed form

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 form
Online beneficiary designation is not available; must use branch, phone, or mail
A trust may be named as POD beneficiary on deposit accounts
HSA accounts require a separate beneficiary designation