How to name beneficiaries and fund a trust at LMCU
Covers 12 deposit, 2 retirement, 1 hsa, and 2 investment accounts — beneficiaries must be updated in-branch
Contact Center
Phone(800) 242-9790
Toll-Free1-800-242-9790
Mailing Address
Lake Michigan Credit Union, 4027 Lake Dr. SE, Grand Rapids, MI 49546
WebsiteLearn more→
Special Accounts (trust, estate, conservatorship, guardianship, POA)
Phone(616) 265-3130
Toll-Free1-800-242-9790
Mailing Address
Lake Michigan Credit Union, Attn: Special Accounts, PO Box 2848, Grand Rapids, MI 49501-2848
Special Accounts - IRA / HSA / Deferred Compensation
Contact Center
WebsiteLearn more→
Special Accounts - Decedent Estate
Phone(616) 265-3130
Toll-Free1-800-242-9790
Mailing Address
Lake Michigan Credit Union, Attn: Special Accounts, PO Box 2848, Grand Rapids, MI 49501-2848
IRA / HSA death claims
WebsiteNotify online→
Verified Jul 2026
Estate planning at LMCU means getting each account set up so it transfers automatically when you die—either through a POD beneficiary or trust ownership. Because LMCU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Without one of these in place, accounts may require probate before your family can access the funds.
LMCU has 17 product types, and the estate transfer rules differ across them. Some support Payable on Death (POD) designations, some can be retitled into a trust, and others will require probate if nothing is set up. Each is covered below.
Max CheckingFree CheckingAdvantage 50 CheckingInvestor CheckingMember SavingsMax SavingsMax Money MarketHoliday ClubKids ClubTeen ClubCertificate of Deposit (CD)8-Month CD Special
1
Visit any LMCU branch (locations at https://www.lmcu.org/locations/) with government-issued photo ID.
2
Ask for the Beneficiary Designation Form and indicate the type of change: Primary Beneficiary, Contingent Beneficiary, or Trust Beneficiary, and whether you are adding, changing, or removing.
3
Provide, for each beneficiary:
- Full name and mailing address
- Date of birth
- Social Security number
- Relationship to the account owner
- Percent designation (primary shares must total 100%; contingent shares must total 100%)
4
To name a trust instead of individuals, complete the Trust as Beneficiary block: trust name, EIN/TIN, and date of trust. The trust must be the sole beneficiary on that membership.
5
Sign the form. Signing revokes all prior beneficiary designations on the membership.
6
Branch staff verify and image your ID and record the change.
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- The POD form covers "all shares except CDs, IRAs and HSAs" — certificates, IRAs, and HSAs cannot carry a POD beneficiary through this form.
- A trust named as beneficiary must be the SOLE beneficiary on the membership; you cannot split a designation between a trust and individuals.
- If no beneficiary is named, the form states the member's estate is the beneficiary.
- A beneficiary who predeceases the member drops out completely, and the remaining beneficiaries' percentages increase pro rata (member agreement sec. 30 and the form itself).
- If all named POD beneficiaries predecease the owner, the funds are paid to the estate of the last surviving owner (member agreement sec. 30).
- Either owner of a multiple-party account may change a POD beneficiary during their lifetime by written direction to the credit union.
- A beneficiary who is a minor when the account is payable is paid through a legal guardian or as otherwise allowed by law.
- Signing a new form revokes every prior beneficiary designation on the membership — re-list every beneficiary you want to keep.
- Under the Michigan Credit Union Multiple-Party Accounts Act (MCL 490.58), a POD or survivorship designation on file cannot be changed by your will; only a signed written order delivered to the credit union during your lifetime changes it.
- MaxWealth Management (LPL Financial) beneficiary designations are made on LPL forms, not with LMCU.
Sources
Data sourced from LMCU primary sources (17 pages reviewed). How we research.
Download these LMCU instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against LMCU primary sources. Bring it to the branch or keep it beside the phone.
Contact Center
Phone(800) 242-9790
Toll-Free1-800-242-9790
Mailing Address
Lake Michigan Credit Union, 4027 Lake Dr. SE, Grand Rapids, MI 49546
WebsiteLearn more→
Special Accounts (trust, estate, conservatorship, guardianship, POA)
Phone(616) 265-3130
Toll-Free1-800-242-9790
Mailing Address
Lake Michigan Credit Union, Attn: Special Accounts, PO Box 2848, Grand Rapids, MI 49501-2848
Special Accounts - IRA / HSA / Deferred Compensation
Contact Center
WebsiteLearn more→
Special Accounts - Decedent Estate
Phone(616) 265-3130
Toll-Free1-800-242-9790
Mailing Address
Lake Michigan Credit Union, Attn: Special Accounts, PO Box 2848, Grand Rapids, MI 49501-2848
IRA / HSA death claims
WebsiteNotify online→
Verified Jul 2026
Estate planning articles
Learn how to protect your LMCU accounts and other assets with trusts, beneficiary designations, and estate planning documents.
