How to name beneficiaries and fund a trust at Hawaii State FCU
Beneficiaries are managed in branch, by phone or by mail. Trust paperwork is taken in branch, by phone or by mail
The goal with your Hawaii State FCU accounts is to make sure every account has a transfer mechanism in place—either a POD beneficiary designation or trust ownership. Because Hawaii State FCU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Accounts without either one pass through the estate, by probate or the state's small-estate procedure.
With 13 product types, Hawaii State FCU 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.
Beneficiary form at Hawaii State FCU
POD or IRA beneficiary designation form.
- Full legal name, date of birth, Social Security number, and relationship for each POD beneficiary
- For IRAs: a separate IRA beneficiary designation, because a POD designation on a deposit account does not apply to an IRA
- Full legal name, date of birth, Social Security number, and relationship for each beneficiary
- Allocation percentages when naming more than one beneficiary
- A trust may be named; enclose the Certification of Trust if you name one
Required Documents
- Beneficiary's full legal name, date of birth, Social Security number and relationship (for each POD beneficiary)
- Allocation percentages (when naming more than one beneficiary, on the mailed form)
- Certification of Trust (when a trust is named as beneficiary)
- Government-issued photo ID (at a branch)
- Certification of Trust, or the trust agreement itself
- The trust’s Tax Identification Number (EIN), or the grantor’s SSN for a revocable trust
- Government-issued photo ID for each trustee
- Trust name exactly as it reads in the trust instrument
- Trust EIN, or grantor SSN for a revocable trust
- Trustee names, addresses, and identification
Required Documents
- Certification of Trust. Also called a Trust Abstract or Affidavit of Trust. A complete copy of the trust agreement is accepted if there is no Certification of Trust
- Amendments to the trust
- Government-issued photo ID (for every trustee)
- Trust EIN, or the grantor’s SSN (the SSN for a revocable trust)
- Death certificate (when a grantor or a prior trustee has died and a successor trustee is taking office)
- Full legal name, date of birth, Social Security number, and relationship for each POD beneficiary
- For IRAs: a separate IRA beneficiary designation, because a POD designation on a deposit account does not apply to an IRA
- Full legal name, date of birth, Social Security number, and relationship for each beneficiary
- Allocation percentages when naming more than one beneficiary
- A trust may be named; enclose the Certification of Trust if you name one
Required Documents
- Beneficiary's full legal name, date of birth, Social Security number and relationship (for each POD beneficiary)
- Allocation percentages (when naming more than one beneficiary, on the mailed form)
- Certification of Trust (when a trust is named as beneficiary)
- Government-issued photo ID (at a branch)
What Hawaii State FCU says about beneficiaries and trusts
Each section is Hawaii State FCU's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary3
- Payable-on-death account
A Payable on Death designation can be added or changed on share (savings), share draft (checking) and term share accounts.1
- IRA
A POD designation on a deposit account does not apply to an IRA; an IRA takes its own beneficiary designation.2
- Trust account
The POD rules "do not apply to an account held on behalf of or held in the name of a trust". A trust account distributes under the trust instrument, not by POD.2
Who can be named1
- A trust
A trust may be named as beneficiary; naming one may require a Certification of Trust.2
How many beneficiaries, and how shares are split
- Payable-on-death account
Funds payable to more than one surviving beneficiary are split equally among the payees alive when the owner, or the last surviving joint owner, dies.2
What a designation takes to be effective
- All accounts
A change must be in writing and signed by all account owners then living, on a form and in a manner acceptable to the credit union. It cannot be made online or completed by phone alone.2
Beneficiary forms Hawaii State FCU issues1
- POD or IRA beneficiary designation form
Completed by every then-living account owner. Sent by the institution on request.1
Return to
Mailing address: P.O. Box 3072, Honolulu, HI 96802
What Hawaii State FCU's agreement says about beneficiaries3
- No beneficiary survives
If no beneficiary survives the last owner, the estate of the last living owner is entitled to the funds.2
- Who can see the designation
The credit union is "not obligated to notify any beneficiary/payee of the existence of any account or the vesting of the beneficiary/payee's interest in any account, except as otherwise provided by law".2
- Changing the owner of a policy or account
Section 23 of the agreement states: "All accounts are nonassignable and nontransferable to third parties except by us."2
Which accounts a trust can hold1
- IRA
An IRA cannot be retitled to a trust; a trust can only be named as its beneficiary.2
Trust account forms Hawaii State FCU issues1
- Trust account application
Sent by the institution on request.1
Return to
Mailing address: P.O. Box 3072, Honolulu, HI 96802
What Hawaii State FCU says about trust accounts4
- Successor trustees
Section 3 provides that "For trust accounts, when a trustee no longer holds office, the successor trustee will be authorized to act on the account after submitting necessary documentation".2
- Membership
Hawaii residency is required for new accounts.2
- The institution's right to refuse a designation or an account title
For a trust, will or court-ordered account arrangement, the credit union may refuse to follow your instructions.2
- Indemnity the owner or a trustee gives
For a trust, will or court-ordered account arrangement, the credit union may require you to indemnify it, post a bond or provide it with other protection.2
Not in Hawaii State FCU's published guidance1
- A beneficiary form to download
Sources
(5)·
Data sourced from Hawaii State FCU primary sources (15 pages reviewed). How we research.
Download these Hawaii State FCU instructions
A printable PDF with the steps, required documents, and contact details, verified against Hawaii State FCU primary sources. Bring it to the branch or keep it beside the phone.
Hawaii State FCU estate support
Member Service Call Center (estate and trust accounts)
Phone
Toll-free
Loan Services
Card Customer Service, credit card
Hours
Mailing address
Website
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