How to name beneficiaries and fund a trust at LMCU
Covers 12 deposit, 2 retirement, and 2 investment accounts — beneficiaries must be updated in-branch
Customer Service
Phone1-800-242-9790
Toll-Free1-800-242-9790
Mailing Address
Lake Michigan Credit Union, 4027 Lake Dr. SE, Grand Rapids, MI 49546
Special Accounts Department
Phone(616) 234-6335
Toll-Free1-800-242-9790
Fax(616) 643-0720
Mailing Address
Lake Michigan Credit Union, Attn: Special Accounts, PO Box 2848, Grand Rapids, MI 49501-2848
WebsiteLearn more →
Special Accounts Department
Phone(616) 234-6335
Toll-Free1-800-242-9790
Fax(616) 643-0720
Mailing Address
Lake Michigan Credit Union, Attn: Special Accounts, PO Box 2848, Grand Rapids, MI 49501-2848
WebsiteNotify online →
Verified Mar 2026
Preparing your LMCU accounts for estate transfer involves two key steps: designating beneficiaries on each account and, where appropriate, retitling accounts into a trust. Because LMCU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Accounts with Payable on Death designations or trust ownership bypass probate entirely.
With 16 product types, LMCU 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.
Max CheckingFree CheckingAdvantage 50 CheckingInvestor CheckingMember SavingsMax SavingsMax Money MarketHoliday ClubCertificate of Deposit (CD)7-Month CD SpecialKids ClubTeen Club
1Visit any LMCU branch location.
2Bring government-issued photo ID.
3Request the Beneficiary Designation Form.
4Provide beneficiary information: full name, date of birth, Social Security number, relationship, and percentage allocation.
5Specify primary and contingent beneficiaries.
6Sign and submit the completed form.
7Receive confirmation of beneficiary designation.
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- POD designation available for deposit accounts (checking, savings, money market) -- excludes CDs, IRAs, and HSAs per member agreement.
- Beneficiary designation required for IRA accounts (separate from POD).
- Trusts can be named as POD beneficiaries.
- Either account owner may change beneficiaries during lifetime by written direction to the credit union.
- If all named POD beneficiaries predecease owner, funds are paid to the estate of the last surviving owner.
- If a beneficiary predeceases the member, the percentage share of remaining beneficiaries increases on a pro rata basis.
- If beneficiary is a minor at time of payment, funds paid to legal guardian or as allowed by applicable law.
- Beneficiary designations for investment accounts handled through LPL Financial, not LMCU directly.
Customer Service
Phone1-800-242-9790
Toll-Free1-800-242-9790
Mailing Address
Lake Michigan Credit Union, 4027 Lake Dr. SE, Grand Rapids, MI 49546
Special Accounts Department
Phone(616) 234-6335
Toll-Free1-800-242-9790
Fax(616) 643-0720
Mailing Address
Lake Michigan Credit Union, Attn: Special Accounts, PO Box 2848, Grand Rapids, MI 49501-2848
WebsiteLearn more →
Special Accounts Department
Phone(616) 234-6335
Toll-Free1-800-242-9790
Fax(616) 643-0720
Mailing Address
Lake Michigan Credit Union, Attn: Special Accounts, PO Box 2848, Grand Rapids, MI 49501-2848
WebsiteNotify online →
Verified Mar 2026
Estate planning documents for LMCU customers
Free documents designed to protect your LMCU accounts.