Estate planning at GE Credit Union

Visit any GECU branch, call 800-542-7093, or request a beneficiary form by mail. You will need to provide beneficiary details including full name, date of birth, Social Security number, and relationship. POD designations are available for deposit accounts; IRA accounts use a separate beneficiary designation. To name a beneficiary other than your spouse, your spouse must sign the form and the signature must be notarized.

Yes. Visit any GECU branch with your trust document (or Certificate of Trust), government-issued photo ID for all trustees, and the trust EIN or SSN. You will need to complete new account paperwork in the trust name. Existing accounts may need to be closed and reopened under the trust title. IRA accounts cannot be retitled to a trust but can name a trust as beneficiary.

The Bump Certificate allows you to initiate a one-time rate adjustment per year during the certificate term to the prevailing GECU rate on that product. This provides flexibility if interest rates rise after you open the certificate.

The 11-Month Certificate is a short-term certificate special. Early withdrawals are not permitted within the first 6 days after account opening. After 6 days, the entire amount (principal plus dividends earned) may be withdrawn in one single transaction with no penalty assessed. IRA and HSA Certificates are not eligible for the 11-Month Certificate.

When you link a savings account to a GECU checking account, each debit card purchase is rounded up to the nearest dollar, with the difference automatically deposited into your savings account. GECU matches 5% of rounded-up funds, up to $350 per year. The Round-Up feature is also compatible with the Thrive Money Market account.

IRAs cannot be retitled to a trust. However, you may name a trust as the beneficiary of your IRA at GECU. A will or trust does not override the beneficiary designation form on file. 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.

If you did not designate a beneficiary on your IRA, the account must be withdrawn over your remaining life expectancy according to IRS rules. The distribution process and timeline will depend on the specific circumstances. Contact GECU's Relationship Banking team at 513-577-8419 for assistance.

The Thrive Money Market is a high-yield money market account with no minimum to open, no monthly maintenance fees, and tiered savings rates that increase as your balance grows. Access your funds at nearly 100,000 ATMs nationwide. The account is compatible with GECU's Round-Up savings feature.