What to do when a GreenState CU account holder dies
Report the death to GreenState CU's Member Assistance Center at 1-800-397-3790
When a member of GreenState CU passes away, the Member Assistance Center handles the transition of accounts to beneficiaries or the estate. Accounts with Payable on Death designations or trust ownership transfer outside of probate, while solely-owned accounts may require Letters Testamentary or Letters of Administration from the probate court.
Death claim process
To file a claim after an account holder's death, here is what GreenState CU requires:
Filing a claim
Required Documents
- Certified death certificate
- Government-issued photo ID for the claimant
- Letters Testamentary or Letters of Administration, for accounts with no payable-on-death beneficiary, no joint owner and no trust title
- Iowa small-estate affidavit, for a qualifying Iowa estate, in place of Letters
- The deceased person's certificate or passbook, where one exists
- Trust agreement or Certificate of Trust, plus the successor trustee's ID, for trust-titled accounts
- IRA beneficiary distribution election forms, for IRA and HSA claims
What happens to each kind of account10
- Account in one name
An account with no payable-on-death beneficiary, no joint owner and no trust title is released on Letters Testamentary or Letters of Administration, or, for a qualifying Iowa estate, on a small-estate affidavit.1
- Joint account with survivorship
The surviving owner keeps the account and GreenState removes the deceased owner. Closing a joint account needs only one owner's signature, so a surviving joint owner can close it without the estate.1
- Payable-on-death account
The named beneficiary claims the account directly with the death certificate and photo ID, with no court paperwork.1
- Trust account
The successor trustee presents the trust document or a Certificate of Trust, the death certificate and the trustee's own ID.1
- Certificate of deposit
A beneficiary who withdraws after the member's death pays no early-withdrawal penalty: "No penalty is required in the case of withdrawal by a beneficiary after the death of the member."2
A certificate renews automatically at maturity into the longest term in its maturity tier, with a 20-day advance maturity notice and a 10-day grace period. A certificate below the minimum is moved to primary savings or IRA savings instead.1
- IRA
The beneficiary designation on file controls. The IRA Department handles the beneficiary's distribution election, separately from the deposit accounts.1
The certificate early-withdrawal penalty is also waived "during normal distribution procedures from an IRA".2
- Health savings account
The beneficiary designation on file controls, and the IRA Department handles the distribution election.1
- Credit card
Section 17 of the Cardholder Agreement makes "the event of your death" an event of default, which lets GreenState require immediate repayment of the whole balance plus collection costs and attorney fees.3
- Safe deposit box
Boxes are held only at select branches, and the annual rent ranges from $30.00 to $100.00 a year by size.4
Access after a death is handled at the branch that holds the box: the Iowa City, Cedar Rapids, Cedar Falls, Des Moines, Fort Dodge, Grinnell and Bettendorf areas in Iowa, and Addison, Naperville, Freeport and Rockford in Illinois. Drilling and key replacement are charged at "Actual Cost".1
- Stored balance
Greenlight card balances for a member's children are held at Community Federal Savings Bank, and GreenState cannot release them. Closing the GreenState funding account ends the no-cost Greenlight Select plan, and monthly fees begin.1
Accounts handled elsewhere3
- GreenState IRA Department
IRA claim and distribution paperwork, separately from deposit accounts1
Mailing address: GreenState Credit Union, Attn: IRA Department, 2355 Landon Road, North Liberty, IA 52317
- GreenState Trust Services (Members Trust Company)
Trusts it administers as trustee, separately from deposit-account claims5
Phone: 1-319-248-7200
- Community Federal Savings Bank
Greenlight card balances for members' children1
What GreenState CU's agreement and guidance say5
- Debts owed to the institution
The Cardholder Agreement gives GreenState a security interest in, and a pledged lien on, "all of your individual and joint share accounts at GreenState Credit Union", which it may apply "without further notice" to a delinquent card. Shares in an IRA and funds exempt by law are excluded.3
- Membership
GreenState is "not able to close your $5 membership share savings account if you still have an open Loan, Credit Card, Mortgage, CD, Money Market, or Checking account," so that account is closed last.6
- How proceeds are paid
GreenState mails the remaining balance as an official check rather than releasing cash.6
The Truth-in-Savings disclosure states that "if you close your account before accrued dividends are credited, you will not receive the accrued dividends."7
- Fees
Share/Regular, Youth and Non-Dividend Savings charge $1.00 per withdrawal or transfer after three a month; an Investor Money Market charges $10.00 after three, and an Impact Account $10.00 after six plus $10 a month below a $2,500.00 daily balance.7
- Wills, probate and small estates
GreenState does not accept or interpret wills.1
Not in GreenState CU's published guidance2
- A procedure for reporting a death
- Terms in its agreements for a customer's death
Sources7
- 1.Contact Support
- 2.Fixed Rate Certificate of Deposit disclosure
- 3.Cardholder Agreement
- 4.Safe Deposit Boxes
- 5.Meet the Trust Team
- 6.Closing Your Account
- 7.Truth-in-Savings Disclosure, effective September 1, 2026
Payable-on-death, joint and trust-titled accounts are released within days of document verification.
GreenState CU's Member Assistance Center can be reached by phone at 1-800-397-3790 and email at mac@greenstate.org for questions throughout the claims process.
Sources
(2)·
Data sourced from GreenState CU primary sources (15 pages reviewed). How we research.
GreenState CU death claims support
Member Assistance Center
Phone
Toll-free
Branches and chat
IRA claims and distributions
Safe deposit box access and drilling (select branches only)
Hours
Website
Estate planning articles
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Forms for Settling an Estate
Free forms for settling an estate: probate petition, small estate affidavit, creditor notice and closing forms. Prepare each form for your state.
Affidavit of Death
Put a joint owner's or a transfer on death deed owner's death on the land records with the affidavit your state's statute names, laid out for recording.
IRS Form 56
Notify the IRS that you are the fiduciary of an estate, a trust or a person, or end a notice filed before, on the official form.
Digital Assets Recovery Letter
Prepare a letter requesting a deceased person's online accounts, points, and balances from the program that holds them.
Petition for Probate and Letters
Open probate and ask the court to appoint you and issue Letters Testamentary or Letters of Administration.
Notice to Creditors
Notify estate creditors and start the claim period — the published notice plus mailed copies for known creditors.
Renunciation of Executor
Decline an appointment as executor named in a will — the writing filed with the court before anyone is appointed.
Tools for Settling an Estate
Free tools for settling an estate: whether probate is needed, executor and trustee pay, creditor deadlines and taxes. Run each tool for your state.
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A step-by-step checklist for the days, weeks, and months after a death, with state rules noted where they apply.
