What to do when a MVFCU account holder dies
Report the death to MVFCU's Contact Center at 1-907-745-4891
After a member of MVFCU dies, the Contact Center manages the transfer of accounts. POD-designated and trust-owned accounts pass directly to beneficiaries. Accounts held solely in the member's name may require probate court documents—Letters Testamentary or Letters of Administration—before funds can be released.
The first step is contacting MVFCU at 1-907-745-4891 with the account holder's full name, account numbers, and the death certificate in hand.
Death claim process
Follow these steps to file a death claim with MVFCU:
Filing a claim
Required Documents
- The borrower's full name, date of birth and address, for a Credit Companion debt protection claim
- The date and cause of the death, and any documents related to it, for a Credit Companion debt protection claim
What happens to each kind of account2
- Loan
Credit Companion death protection, where the borrower bought it on a consumer loan or credit card, cancels the balance left on the loan as of the date of death, up to $75,000.1
Securian reviews a debt protection claim and approves it, denies it or asks for more information. The loan payments continue until it decides.2
- Certificate of deposit
Taking money out of a share certificate before it matures forfeits 30 days of dividends on a term of 365 days or less, 60 days on a two-year term and 90 days on a term of three years or more.3
Accounts handled elsewhere3
- Securian Financial
Credit Companion debt protection claims on MVFCU consumer loans and credit cards2
Phone: 1-800-328-9442
Hours: Monday-Friday 7:00 AM-6:00 PM CT
- TruStage (CMFG Life Insurance Company)
Accidental death and dismemberment and life insurance offered to members4
Phone: 1-855-612-7909
- Matanuska Valley Financial Services (LPL Financial)
Investment and retirement plan accounts held through LPL Financial5
Phone: 1-907-745-9182
What MVFCU's agreement and guidance say3
- Payments after the death
The overdraft disclosure lists a deceased primary account holder among the reasons the credit union may not give Overdraft Privilege coverage on a checking account.6
- Fees
Account research costs $15.00 an hour and a statement copy $2.50.7
- Membership
Membership is open to people who live, work, worship or attend school in Alaska or the Waipahu Neighborhood Board 22 area of Honolulu, and to a current member's immediate family and household.8
Not in MVFCU's published guidance11
- A procedure for reporting a death
- A department for deceased-customer accounts
- A claim form
- A list of required documents, for deposit accounts
- Whether the death certificate must be certified
- Which court appointment document it accepts
- An online way to report a death
- How long a claim takes
- A small-estate procedure
- Terms in its agreements for a customer's death
- Certificate penalty waiver at death, for deposit accounts
Sources8
- 1.Credit Companion brochure (Securian F79378), Rev 4-2023
- 2.Debt Protection Claims
- 3.Truth in Savings Disclosure
- 4.TruStage Insurance
- 5.Matanuska Valley Financial Services
- 6.Overdraft Privilege Disclosure, revised 03/27/17
- 7.Fee Schedule, June 23, 2023
- 8.Membership
MVFCU's Contact Center can be reached by phone at 1-907-745-4891 and fax at 1-907-745-9131 for questions throughout the claims process.
Sources
(3)·
Data sourced from MVFCU primary sources (38 pages reviewed). How we research.
MVFCU death claims support
Contact Center
Phone
Hawaii
Credit Companion debt protection claims (Securian)
Fax
Hours
Mailing address
Website
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