How to name beneficiaries and fund a trust at Keesler Federal
Beneficiaries are managed in branch, by phone or by mail. Trust paperwork is taken in branch or by mail
The goal with your Keesler Federal accounts is to make sure every account has a transfer mechanism in place—either a POD beneficiary designation or trust ownership. Because Keesler Federal 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.
Keesler Federal has 18 accounts with different estate transfer rules. Here is how beneficiary designations, trust ownership, and probate apply to each one.
Beneficiary form at Keesler Federal
Beneficiary Designation Form and IRA beneficiary designation (for IRAs).
- Beneficiary details: full name, date of birth, Social Security number, and relationship
- Primary and contingent payees
- A designation is per share, so Primary Share, each Alternate Share, the Christmas Club, the money market and each certificate need their own
- Mail to: Keesler Federal Credit Union, PO Box 7001, Biloxi, MS 39534
- Or visit any branch to submit in person
- Primary and contingent payee details: name, date of birth, Social Security number, relationship
- One form per share; the designation does not carry across accounts
- Sign the form
Required Documents
- Beneficiary's full name
- Beneficiary's date of birth
- Beneficiary's Social Security number
- Beneficiary's relationship to the owner
- Primary and contingent payees (for each share)
- Government-issued photo ID (at a branch)
- Beneficiary designation form, completed and signed (by phone or mail)
- Full trust agreement or Certificate of Trust
- Government-issued photo ID for all trustees
- Trust tax identification number (EIN) or SSN for revocable trusts
- Complete new account paperwork in the trust name
- Existing accounts may need to be closed and reopened in the trust name
- Section 27 of the Membership and Account Agreement lets Keesler Federal require the change to be evidenced by a signed Account Change Card or another document it accepts
- Copies of trust document or Certificate of Trust
- Copies of government-issued photo ID for all trustees
- Trust EIN or SSN
Required Documents
- Full trust agreement or Certificate of Trust. A Certificate of Trust is also called an Abstract of Trust or Certification of Trust
- Government-issued photo ID for all trustees
- Trust Employer Identification Number (EIN) or SSN (SSN for revocable trusts)
- Signed Account Change Card or other document Keesler Federal accepts (for the change)
- Beneficiary details: full name, date of birth, Social Security number, and relationship
- Primary and contingent payees
- A designation is per share, so Primary Share, each Alternate Share, the Christmas Club, the money market and each certificate need their own
- Mail to: Keesler Federal Credit Union, PO Box 7001, Biloxi, MS 39534
- Or visit any branch to submit in person
- Primary and contingent payee details: name, date of birth, Social Security number, relationship
- One form per share; the designation does not carry across accounts
- Sign the form
Required Documents
- Beneficiary's full name
- Beneficiary's date of birth
- Beneficiary's Social Security number
- Beneficiary's relationship to the owner
- Primary and contingent payees (for each share)
- Government-issued photo ID (at a branch)
- Beneficiary designation form, completed and signed (by phone or mail)
- Full trust agreement or Certificate of Trust
- Government-issued photo ID for all trustees
- Trust tax identification number (EIN) or SSN for revocable trusts
- Complete new account paperwork in the trust name
- Existing accounts may need to be closed and reopened in the trust name
- Section 27 of the Membership and Account Agreement lets Keesler Federal require the change to be evidenced by a signed Account Change Card or another document it accepts
- Copies of trust document or Certificate of Trust
- Copies of government-issued photo ID for all trustees
- Trust EIN or SSN
Required Documents
- Full trust agreement or Certificate of Trust. A Certificate of Trust is also called an Abstract of Trust or Certification of Trust
- Government-issued photo ID for all trustees
- Trust Employer Identification Number (EIN) or SSN (SSN for revocable trusts)
- Signed Account Change Card or other document Keesler Federal accepts (for the change)
- Beneficiary details: full name, date of birth, Social Security number, and relationship
- Primary and contingent payees
- A designation is per share, so Primary Share, each Alternate Share, the Christmas Club, the money market and each certificate need their own
- Mail to: Keesler Federal Credit Union, PO Box 7001, Biloxi, MS 39534
- Or visit any branch to submit in person
- Primary and contingent payee details: name, date of birth, Social Security number, relationship
- One form per share; the designation does not carry across accounts
- Sign the form
Required Documents
- Beneficiary's full name
- Beneficiary's date of birth
- Beneficiary's Social Security number
- Beneficiary's relationship to the owner
- Primary and contingent payees (for each share)
- Government-issued photo ID (at a branch)
- Beneficiary designation form, completed and signed (by phone or mail)
What Keesler Federal says about beneficiaries and trusts
Each section is Keesler Federal's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary3
- Payable-on-death account
POD designations are available for deposit shares: checking, savings, certificates and money market. A designation is made per share and does not carry across accounts.1
- IRA
A POD or trust payee designation does not apply to Individual Retirement Accounts. IRA, IRA certificate and Keogh beneficiaries are designated separately.1
- Trust account
The POD and trust payee designation "does not apply to an account held on behalf of or in the name of a trust".1
How many beneficiaries, and how shares are split
- Payable-on-death account
Where more than one POD payee survives, they own the funds jointly in equal shares without rights of survivorship, unless state law provides otherwise or Keesler Federal permits and documents a different allocation.1
What a designation takes to be effective
- All accounts
Keesler Federal may require an account change to be evidenced by a signed Account Change Card or other document it accepts.1
Beneficiary forms Keesler Federal issues2
What Keesler Federal's agreement says about beneficiaries3
- What the owner keeps while living
A POD or trust designation is an instruction that the account is payable to the owner during life and to the surviving payees at the last owner's death.1
- Whether beneficiaries are told they are named
Section 4 of the Membership and Account Agreement says Keesler Federal is not obligated to notify a payee that an account exists or that the payee's interest has vested, except as otherwise provided by law.1
- Joint accounts
Unless the Account Card or the online application says otherwise, a joint account carries rights of survivorship, which overrides what a will says about that balance.1
Which accounts a trust can hold1
- IRA
An IRA, IRA certificate or Keogh cannot be retitled to a trust. A trust reaches it only as the named IRA beneficiary.1
Trust account forms Keesler Federal issues1
- Trust account application
Sent by the institution on request.1
Return to
Mailing address: Keesler Federal Credit Union, PO Box 7001, Biloxi, MS 39534
What Keesler Federal says about trust accounts5
- Whether a new account is opened
Existing accounts may need to be closed and reopened in the trust name.1
- Certificates moved into a trust
Truth-in-Savings section 10 states that the account is nontransferable and nonnegotiable, so a share certificate is closed and reissued rather than assigned to the trust.3
- The institution's right to refuse a designation or an account title
Section 27 of the Membership and Account Agreement reserves Keesler Federal's right to refuse an instruction it believes might expose it to claims, lawsuits, expenses, liabilities or damages.1
- Indemnity the owner or a trustee gives
Under section 27 of the Membership and Account Agreement, Keesler Federal may instead require the member to indemnify it, post a bond, or provide other protection.1
- Membership
Membership rests on the Primary Share. The Truth-in-Savings Disclosure sets the par value of one share at $1.00 with one share required, and a member who also holds checking must keep at least $5 in the savings share at all times.3
Not in Keesler Federal's published guidance2
- An online way to name a beneficiary
- A beneficiary form to download
Sources
Data sourced from Keesler Federal primary sources (16 pages reviewed). How we research.
Download these Keesler Federal instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Keesler Federal primary sources. Bring it to the branch or keep it beside the phone.
Keesler Federal estate support
Member Contact Center
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Keesler Financial Group (local)
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Estate requests go through general customer service.
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