How to name beneficiaries and fund a trust at First Community CU
Covers 11 deposit, and 2 retirement accounts — beneficiaries must be updated in-branch
Member Services
First Community Credit Union, 200 N Adams St, Coquille, OR 97423
Member Services
First Community Credit Union, 200 N Adams St, Coquille, OR 97423
Death Claims / Member Services
First Community Credit Union, 200 N Adams St, Coquille, OR 97423
Estate planning at First Community CU means getting each account set up so it transfers automatically when you die—either through a POD beneficiary or trust ownership. Because First Community CU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Without one of these in place, accounts may require probate before your family can access the funds.
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.
- Deposit accounts: the Membership Form (Membership and Account Application, Account Update, or Change Card) on which the POD designation is recorded
- IRA accounts: the separate IRA beneficiary designation form
- Full name and Social Security number
- Date of birth and relationship to account owner
- Primary or contingent designation with percentage allocation
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- POD designations are available on deposit accounts (checking, savings, money market, and share certificates) and are recorded on the Membership Form
- A POD designation does NOT apply to IRAs; IRAs are governed by a separate account agreement and beneficiary designation (Membership and Account Agreement)
- A beneficiary change must be made in writing, on a form approved by the credit union
- Multiple surviving POD beneficiaries share the account equally under the account agreement
- Online beneficiary designation is not available; use a branch, phone, or mail
- A trust may be named as POD beneficiary on deposit accounts
- HSA accounts require a separate beneficiary designation
Sources
Data sourced from First Community CU primary sources (21 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.
Member Services
First Community Credit Union, 200 N Adams St, Coquille, OR 97423
Member Services
First Community Credit Union, 200 N Adams St, Coquille, OR 97423
Death Claims / Member Services
First Community Credit Union, 200 N Adams St, Coquille, OR 97423
Estate planning articles
Learn how to protect your First Community 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 moreMore estate planning resources
Explore related tools and documents to complete your estate plan.
How Much Does Probate Cost?
Estimate attorney fees, executor fees, court costs, and timeline for probating an estate in your state. See if the estate qualifies for simplified probate procedures.
Who Inherits Without a Will?
Find out who inherits your estate and how much they get if you die without a will. Based on your state's intestate succession laws.
How Much Are Estate & Inheritance Taxes?
Calculate federal estate tax, state estate tax (12 states + DC), and inheritance tax (5 states) for an estate or trust.
What Does Estate Planning Actually Cost?
See the true cost of estate planning. Compare SimplyTrust, Trust & Will, LegalZoom, and attorneys including life events like marriage, divorce, and having children.
How Much Does a Revocable Living Trust Cost?
Compare the cost of creating a revocable living trust. See how SimplyTrust, Trust & Will, LegalZoom, and attorneys compare over 5 years including life events.
How Much Does a Will Cost?
Compare the cost of creating a will. See document costs plus probate fees your heirs will pay. Compare SimplyTrust, Trust & Will, LegalZoom, and attorneys.
