What to do when a Maine Savings FCU account holder dies
Report the death to Maine Savings FCU's Member Service Center at 1-800-273-6700
When a member of Maine Savings FCU passes away, the Member Service Center handles the transition of accounts to beneficiaries or the estate. Accounts with Payable on Death designations or trust ownership transfer outside of probate, while solely-owned accounts may require Letters Testamentary or Letters of Administration from the probate court.
Claims can be filed by phone (1-207-862-6500) or by emailing documentation to memberservicecenter@mainesavings.com. Before reaching out, gather the account holder's full name, account numbers, and the death certificate.
Death claim process
Follow these steps to file a death claim with Maine Savings FCU:
Filing a claim
- POD payee: be prepared to give your SSN, date of birth and physical address on request.
- Estate representative: Letters Testamentary or Letters of Administration from the Maine probate court.
- Successor trustee: the trust agreement or Certificate of Trust, plus proof of your succession.
- Small estate: a Maine small estate affidavit, where the estate qualifies.
Required Documents
- Certified copy of the death certificateA photocopy is not enough. Where the account had more than one owner, Maine Savings can require certified death certificates for all owners.
- Government-issued photo ID for the claimantOn request, also your SSN, date of birth, physical address, a second form of ID, and a thumbprint or fingerprint.
- Letters Testamentary or Letters of Administration, where there is no POD payee and no surviving joint owner
- Maine small estate affidavit, where the estate qualifies
- Trust agreement or Certificate of Trust, plus proof of succession, from a successor trustee, for a trust-owned account
- Beneficiary distribution paperwork, for an IRA, a Coverdell ESA or account life savings insurance
- Indemnification and hold-harmless agreement, if Maine Savings requires one
What happens to each kind of account8
- Payable-on-death account
The POD payee presents the death certificate and ID. Where several payees are named, each claims an equal share, the balance divided by the number of payees.1
A POD payee or surviving joint owner is normally paid once the certified death certificate and identification are accepted.2
- Joint account with survivorship
The surviving owner keeps the funds by right of survivorship. A POD payee takes only after the last owner dies.1
- Account in one name
With no POD payee and no surviving owner, the estate representative, or another claimant authorized by law such as a creditor or a relative, must prove authority with court documents such as Letters Testamentary or Letters of Administration.1
- Trust account
The successor trustee has no rights to the funds until they deliver proof of succession that Maine Savings verifies. Bring the trust agreement or Certificate of Trust and photo ID.1
- IRA
An IRA has its own beneficiary designation, unaffected by any POD payee on a deposit account. The beneficiary completes distribution paperwork through a branch or at 800-273-6700.2
- Coverdell education savings account
A Coverdell education savings account has its own beneficiary designation, unaffected by any POD payee on a deposit account. The beneficiary completes distribution paperwork through a branch or at 800-273-6700.2
- Life insurance policy
Account life savings insurance has its own beneficiary designation, unaffected by any POD payee on a deposit account. The beneficiary completes distribution paperwork through a branch or at 800-273-6700.2
If the death was accidental, the member may have been enrolled in the credit union's $3,000 Basic AD&D coverage or voluntary additional coverage. It carries a separate beneficiary designation.3
- Safe deposit box
The Member Service Agreement applies the same authority and identification test to "other product or service, such as a safe deposit box," so a box needs the same proof as the accounts.1
State law on paying a balance without lettersMaine
- Maine
9-B M.R.S. § 427(8)(A)
Maine law permits a credit union to pay from a deceased member's balance on proof the institution accepts, without letters testamentary or letters of administration.9-B M.R.S. § 427(8)(A)Verified Oct 3, 2026View source
Limit: $1,000 per account
Paid to: the surviving spouse; next of kin; funeral director or other preferred creditor or creditors who may appear to be entitled to the deposit or account
The section permits the payment. It does not require the credit union to make it. The section sets further conditions.
What Maine Savings FCU's agreement and guidance say9
- Telling the institution
Maine Savings may keep honoring actions and transactions on the account until it receives a certified death certificate and proof of the claimant's authority.1
- What it does when notified
On notice of the death, Maine Savings may suspend any product or service, begin terminating the products, services, account numbers and membership, and collect any outstanding obligations.1
- Indemnity a claimant may have to give
Maine Savings may require an estate representative or claimant to indemnify, defend and hold the credit union harmless before it releases funds.1
- Fees
Every owner and every beneficiary or POD payee is responsible for the cost of legal advice Maine Savings requires in connection with a claim.1
The Rate and Fee Disclosure prices the Research and Reconciliation fee, which applies to a request for account history, at $30.00 per hour.4
- Debts owed to the institution
Before anything is distributed, Maine Savings may apply the funds to what the deceased member owed it (an auto loan, personal loan, credit card or HELOC) and to what a beneficiary or POD payee owes it.1
- How proceeds are paid
Payment is a Maine Savings check to the POD payee, to a payee's own estate, or to the deceased owner's estate, as the case requires.1
- Disputes between claimants
If entitlement is disputed or unclear, Maine Savings may hold the funds or deposit them with a court.1
- Which state governs the account
Accounts opened by mail, phone, or the credit union's internet services are governed by Maine law.1
- Dormant and unclaimed accounts
A long-dormant account may already have been remitted to the state as unclaimed property. The funds are then recovered from the Maine State Treasurer rather than from the credit union.1
Not in Maine Savings FCU's published guidance2
- A claim form to download
- How long a claim takes
Sources4
- 1.Member Service Agreement, Part 2, rev. 07-01-2025
- 2.Contact Us
- 3.AD&D Insurance
- 4.Rate and Fee Disclosure
Maine Savings FCU's Member Service Center can be reached by phone at 1-800-273-6700, email at memberservicecenter@mainesavings.com, and fax at 1-207-862-6502 for questions throughout the claims process.
Sources
Data sourced from Maine Savings FCU primary sources (15 pages reviewed). How we research.
Maine Savings FCU death claims support
Member Service Center
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