What to do when an iQ Credit Union account holder dies
Report the death to iQ Credit Union's Member Services at 1-800-247-4364
The Member Services at iQ Credit Union coordinates account transitions after a member's death. How each account is handled depends on its setup: POD and trust accounts transfer automatically, while solely-owned accounts typically require court authorization through Letters Testamentary or Letters of Administration.
Deposit, investment & retirement accounts
Follow these steps to file a death claim with iQ Credit Union:
Filing a claim
- POD beneficiary: the death certificate and your ID are enough to request distribution
- Executor or administrator: Letters Testamentary or Letters of Administration
- Small estate: a Washington small-estate affidavit or an Oregon simple estate affidavit
- Successor trustee: the trust instrument showing your appointment
- A copy of the death certificate
- A cover letter with the deceased member's full legal name, date of death, account numbers if known, your relationship and role, and your contact details
- Your authority document: Letters Testamentary, Letters of Administration, a Washington small-estate affidavit, an Oregon simple estate affidavit, or the trust instrument naming you successor trustee
- A copy of your government-issued photo ID
Required Documents
- Indemnity agreement, if iQ requires one of a person claiming funds after the owner's death
What happens to each kind of account6
- Account in one name
An individual account with no POD beneficiary passes to the deceased member's estate.1
- Joint account with survivorship
The deceased owner's interest becomes the surviving joint owner's property. That interest stays subject to iQ's statutory lien for the deceased owner's obligations, and to any security interest or pledge the deceased owner granted, even without the survivor's consent.1
- Joint account without survivorship
The deceased owner's interest passes to the deceased owner's estate, not to the co-owner.1
- Payable-on-death account
The account is paid to the named, surviving POD beneficiary, and only after the last joint owner has died. Several POD beneficiaries take jointly, with rights of survivorship among themselves.1
- IRA
An IRA share or IRA certificate is settled on its separate IRA beneficiary designation. A POD designation on the member's other accounts does not reach the IRA.1
- Fiduciary account
An executor can open a fiduciary (estate) account to collect assets and pay bills. The estate is the sole owner, and the executor is the only party authorized to transact on it, with no ownership interest in the funds.1
State law on paying a balance without lettersOregon, Washington
- Oregon
ORS 723.466
Oregon law permits a credit union to pay from a deceased member's balance on an affidavit, without letters testamentary or letters of administration.ORS 723.466Verified Oct 3, 2026View source
Paid to: surviving spouse
Limit: $25,000 held at the institution and $25,000 in total from every holder
When: at any time after the death
Paid to: Oregon Health Authority or Department of Human Services (no surviving spouse; preferred claim under ORS 411.708, 411.795 or 416.350)
Limit: $25,000 held at the institution and $25,000 in total from every holder
When: not less than 46 days and no more than 75 days after the death
Paid to: surviving children 18 or older; else surviving parent(s); else surviving brothers and sisters 18 or older; else any other surviving heir
Limit: $25,000 held at the institution and $25,000 in total from every holder
When: not earlier than 76 days after the death; not earlier than 46 days after the death where the institution obtains prior verbal or written authorization from both the Oregon Health Authority and the Department of Human Services
Paid to: estate administrator of the State Treasurer (intestate, no known heirs)
Limit: $25,000 held at the institution and $25,000 in total from every holder
The section permits the payment. It does not require the credit union to make it. The section sets further conditions.
- Washington
RCW 30A.22.190(2)
Washington law permits a credit union to pay from a deceased member's balance on an affidavit, without letters testamentary or letters of administration.RCW 30A.22.190(2)Verified Oct 3, 2026View source
Limit: $2,500 held at the institution
Paid to: the surviving spouse, next of kin, funeral director, or other creditor who may appear to be entitled thereto
The section permits the payment. It does not require the credit union to make it. The section sets further conditions.
RCW 30A.22.190(1)
Washington law permits a credit union to pay from a deceased member's balance on an affidavit, without letters testamentary or letters of administration.RCW 30A.22.190(1)Verified Oct 3, 2026View source
Limit: The section sets no dollar limit.
Paid to: the surviving spouse (party to a community property agreement with the decedent that reaches the funds)
The section permits the payment. It does not require the credit union to make it. The section sets further conditions.
RCW 11.62.030
Washington law permits a credit union to pay from a deceased member's balance on an affidavit, without letters testamentary or letters of administration.RCW 11.62.030Verified Oct 3, 2026View source
Paid to: surviving spouse or surviving domestic partner
Limit: $1,000 held at the institution
The section permits the payment. It does not require the credit union to make it. The section sets further conditions.
What iQ Credit Union's agreement and guidance say9
- Wills, probate and small estates
The member irrevocably waives the right to make a testamentary disposition of any iQ account, so the account card designations override anything a will says about the account.1
- Telling the institution
iQ keeps honoring every transfer, withdrawal, deposit and transaction on the account until it learns of the death.1
- Payments after the death
After iQ learns of the death, it may still pay checks and honor payment or transfer orders the deceased member authorized for a further ten days, unless a person claiming an interest in the account tells it to stop payment.1
- Indemnity a claimant may have to give
iQ can require anyone who claims funds in an account after the owner's death to indemnify it against any losses from honoring that claim.1
- Who can get account information
iQ has no duty to tell a beneficiary that an account exists.1
- Debts owed to the institution
iQ has a lien on "any or all of the funds in any account in which you have an ownership interest at the Credit Union, regardless of the source of the funds," and may "apply these funds in any order."1
Section 17 also grants a security interest in accounts for "any debt or amount owed the Credit Union, EXCEPT obligations secured by your dwelling", so the offset runs differently for an iQ mortgage or HELOC than for an auto loan or credit card.1
- Which state governs the account
Whichever branch the member used, the agreement "is governed by the Bylaws of the Credit Union, federal laws and regulations, the laws and regulations of the State of Washington and local clearinghouse rules."1
Disputes about the agreement "shall be subject to the jurisdiction of the court of the county in which the Credit Union is located", which is Clark County, Washington.1, 2
- Holds and legal process
If a levy, garnishment or attachment is brought against the account, iQ "may refuse to pay out any money from your account until the dispute is resolved." Any legal process is itself subject to iQ's lien.1
- Membership
Every member holds a $5.00 Membership Share Account, which is easy to overlook when the accounts are settled.3
Not in iQ Credit Union's published guidance4
- A procedure for reporting a death
- A claim form
- Whether the death certificate must be certified
- How long a claim takes
Sources3
- 1.Personal Membership and Account Agreement, Effective 7/1/2025
- 2.NCUA credit union record (charter 60438)
- 3.Contact Us
Mortgage and home lending
Mortgages and home equity loans are liabilities, not assets. They do not have beneficiaries and cannot be retitled to a trust.
- The deceased borrower's full legal name, Social Security number and loan number
- A copy of the death certificate
- Your name and relationship to the borrower
- Continue paying the existing loan
- Assume the loan
- Refinance in your own name
- Pay off the balance, typically from a sale of the home or from estate funds
Federal law on calling a home loan after a death
These exemptions apply to a loan secured by residential real property containing less than five dwelling units.12 U.S.C. § 1701j-3(d); 12 CFR 191.5(b), 141.14Verified Oct 3, 2026View source
- A lender may not exercise a due-on-sale clause upon a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety.12 U.S.C. § 1701j-3(d)(3); 12 CFR 191.5(b)(1)(iii)Verified Oct 3, 2026View source
- A lender may not exercise a due-on-sale clause upon a transfer to a relative resulting from the death of a borrower.12 U.S.C. § 1701j-3(d)(5)Verified Oct 3, 2026View source
- A lender may not exercise a due-on-sale clause upon a transfer where the spouse or children of the borrower become an owner of the property.12 U.S.C. § 1701j-3(d)(6)Verified Oct 3, 2026View source
A federal regulation sets further conditions on these transfers.12 CFR 191.5(b)(1)(v)Verified Oct 3, 2026View source
Not in iQ Credit Union's published guidance3
- Online claim form
- How long a claim takes
- A list of required documents
- The deceased borrower's full legal name, Social Security number and HELOC account number
- A copy of the death certificate
- Pay it off from estate funds or from the proceeds of a sale
- Refinance the debt into a loan in your own name
- Negotiate repayment terms with iQ
What happens to each kind of account1
- Loan
The draw period ends at the borrower's death and no additional advances can be taken. The balance remains a lien on the home.1
What iQ Credit Union's agreement and guidance say1
- Debts owed to the institution
A surviving joint owner's interest in an iQ deposit account remains subject to iQ's statutory lien for the deceased owner's obligations, which can include this line of credit.2
Not in iQ Credit Union's published guidance2
- Online claim form
- A list of required documents
Sources2
- 1.Contact Us
- 2.Personal Membership and Account Agreement, Effective 7/1/2025
iQ Credit Union's Member Services can be reached by phone at 1-800-247-4364 for questions throughout the claims process.
Sources
Data sourced from iQ Credit Union primary sources (17 pages reviewed). How we research.
iQ Credit Union death claims support
Member Services
Phone
Hours
Mailing address
Website
Estate planning articles
Learn how to protect your iQ Credit Union accounts and other assets with trusts, beneficiary designations, and estate planning documents.
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