How to name beneficiaries and fund a trust at GE Credit Union
Covers 13 deposit, and 4 retirement accounts — beneficiaries must be updated in-branch
Member Support
11311 Cornell Park Drive, Cincinnati, OH 45242
GECU Wealth Management (securities and advisory services through LPL Financial)
11311 Cornell Park Drive, Cincinnati, OH 45242
Relationship Banking (Deceased Accounts)
11311 Cornell Park Drive, Cincinnati, OH 45242
Estate planning at GE Credit Union means getting each account set up so it transfers automatically when you die—either through a POD beneficiary or trust ownership. Because GE Credit Union 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.
With 17 product types, GE Credit Union offers a range of transfer options. Some accounts support Payable on Death (POD) designations, others can be retitled into a trust, and some require probate if no beneficiary is designated. The sections below break down each step.
- Full name
- Date of birth
- Social Security number
- Relationship to the account owner
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Multiple beneficiaries take in EQUAL SHARES: "If more than one beneficiary is listed, the account balance shall be distributed to them in equal shares" (Deposit Account Disclosures, Ownership of Account & Beneficiary Designation)
- No representation by right: "If any beneficiary shall predecease you, his or her interest, and the interest of any of his or her heirs, shall then terminate." The share goes to the surviving beneficiaries, not to the deceased beneficiary's children
- On a revocable trust or payable-on-death account created by two or more people, the account is owned jointly with survivorship and "Beneficiaries cannot withdraw unless: (1) all persons creating the account die, and (2) the beneficiary is then living"
- Two or more beneficiaries who survive all account creators own the account in equal shares WITHOUT right of survivorship
- Creators of a POD or revocable trust account may change beneficiaries, change account types, and withdraw all or part of the funds at any time
- GECU reserves the right to refuse some forms of ownership on any or all of its accounts
- GECU makes no representation as to whether a chosen ownership or beneficiary designation is appropriate or effective, "except as they determine to whom we pay the account funds"
- No downloadable beneficiary designation form is published on the GECU forms page; the designation is made on the account records with a team member
Sources
Data sourced from GE Credit Union primary sources (17 pages reviewed). How we research.
Download these GE Credit Union instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against GE Credit Union primary sources. Bring it to the branch or keep it beside the phone.
Member Support
11311 Cornell Park Drive, Cincinnati, OH 45242
GECU Wealth Management (securities and advisory services through LPL Financial)
11311 Cornell Park Drive, Cincinnati, OH 45242
Relationship Banking (Deceased Accounts)
11311 Cornell Park Drive, Cincinnati, OH 45242
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