What to do when a MHV FCU account holder dies
Report the death to MHV FCU's Support Services at 1-800-451-8373
After a member of MHV FCU dies, the Support Services 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 claim process begins with a phone call to 1-845-336-4444. Have the account holder's full name, account numbers, and the death certificate available when making initial contact.
Death claim process
Follow these steps to file a death claim with MHV FCU:
Filing a claim
- Death certificate
- Letters Testamentary (the Surrogate's Court document giving the executor authority), if applicable
- Letters of Administration (issued where there is no will or no living executor), if applicable
- Affidavit of Heirship, if applicable, used to establish the heirs where there is no will
- Survivor's Affidavit, if applicable, used to request payment from the deceased person's individual account
- Letters Testamentary or Letters of Administration with an issue date within the last 6 months
- The federal EIN for the estate
- Unexpired government-issued photo ID for each executor or administrator
- A Membership Application
- Death certificate
- Letters Testamentary or Letters of Administration, if applicable
- Affidavit of Heirship, if applicable
- Survivor's Affidavit, if applicable (payment from an individual account)
- Unexpired government-issued photo ID for each person claiming
Required Documents
- Death certificateAn original or certified copy. MHV accepts nothing else.
- Letters Testamentary, if there is a will and an executor was appointedThe Surrogate's Court document giving the executor authority.
- Letters of Administration, if there is no will or no living executor
- Affidavit of Heirship, where there is no will and the heirs must be established
- Survivor's Affidavit, to request payment from the deceased person's individual account
- Unexpired government-issued photo ID, for each claimant, beneficiary, executor or administrator
- Trust document and the trust's Tax ID Number, for a trust-titled account claimed by a successor trustee
- Letters Testamentary or Letters of Administration issued within the last 6 months, to open an estate accountA certificate with an older issue date is not accepted.
- Federal EIN for the estate and a Membership Application, to open an estate account
Forms MHV FCU issues2
- Survivor's Affidavit
Sent by the institution on request.1
- Notarized Statement
Available to download. Must be notarized.2
What happens to each kind of account8
- Joint account with survivorship
A joint account stays open until MHV has all required documentation, and the surviving joint owner keeps access to the available funds in the meantime. The account will ultimately need to be closed.1
- Payable-on-death account
An individual account with designated beneficiaries is paid to those beneficiaries on presentation of valid identification, and only after any outstanding MHV debts in the deceased person's name have been satisfied.1
- Account in one name
An individual account with no beneficiaries is paid to the estate on receipt of the documentation, again only after outstanding MHV debts have been satisfied.1
- IRA
MHV does not settle IRAs. It forwards the death certificate to its IRA/HSA Plan Administrator, which mails the beneficiary election forms, receives the completed forms and documents directly, and then authorizes MHV to disburse the funds.1
Closing an IRA carries a $15 close-out fee.3
- Health savings account
MHV does not settle HSAs. It forwards the death certificate to its IRA/HSA Plan Administrator, which mails the beneficiary election forms, receives the completed forms and documents directly, and then authorizes MHV to disburse the funds.1
- Credit card
With TruStage payment protection, MHV files a Credit Life claim when it receives the death certificate. Without that coverage, an outstanding balance becomes the estate's responsibility, and a surviving co-signer remains responsible for it.1
- Loan
With TruStage payment protection, MHV files a Credit Life claim when it receives the death certificate. Without it, a consumer loan balance becomes the estate's responsibility, and a surviving co-borrower or co-signer remains responsible for it.1
An auto loan needs a living borrower and cannot be kept going by continuing the payments: to keep the vehicle it must be paid in full or refinanced by a living person, or MHV offers a voluntary repossession and auction, with any deficiency pursued against the estate. A home equity line allows no further advances.1
- Safe deposit box
The box is sealed and access is restricted on death. A joint renter may have supervised access to examine and copy documents about the deceased person's wishes; removing the contents and closing the box requires a Surrogate's Court order, or Letters Testamentary or Letters of Administration.1
The fee schedule charges a safe deposit late fee of $5 a month, and drilling a box is charged at market rate.3
State law on paying a balance without lettersNew York
- New York
N.Y. SCPA § 1310
New York law permits a credit union to pay from a deceased member's balance on an affidavit made under oath, without letters testamentary or letters of administration.N.Y. SCPA § 1310Verified Oct 3, 2026View source
Paid to: surviving spouse
Limit: $30,000 in total from every holder
When: forthwith
Paid to: surviving spouse, children eighteen or older, either parent, brother or sister, niece or nephew, or at their request a creditor or the person who paid the funeral expense
Limit: $15,000 in total from every holder
When: not less than thirty days after the death
Paid to: a distributee, a creditor, or the person who paid the funeral expenses
Limit: $5,000 held at the institution and $5,000 in total from every holder
When: not less than 6 months after the death
The section permits the payment. It does not require the credit union to make it. The section sets further conditions.
Accounts handled elsewhere1
- TruStage
Credit Life claims on MHV loans and credit cards carrying TruStage payment protection1
Phone: 1-800-621-6323
What MHV FCU's agreement and guidance say9
- Telling the institution
MHV asks to be told promptly, because notice protects the accounts from fraud and because it has to keep reporting tax information under the deceased person's Social Security number until the accounts are closed. It asks for the accounts to be settled as quickly as possible.1
- What it does when notified
The deceased person's Visa debit card is closed, and Online Banking, the MHV Mobile App and Bill Pay tied to individual accounts are turned off.1
- Debts owed to the institution
MHV pays a named beneficiary, and pays the estate, only after any outstanding MHV debts in the deceased person's name have been satisfied. An unpaid credit card or consumer loan balance may be offset by funds on deposit in the deceased person's MHV accounts.1
- Deposits after the death
MHV may place holds on deposits in the deceased person's name that are subject to reclamation, and deposits received after the date of death may be returned to the originator.1
Checks made payable to the deceased person cannot be deposited into the deceased person's account. They have to go into an estate account, or be reissued by the maker to a different payee.1
- Powers of attorney
Authority granted under a power of attorney ceases on the grantor's death. An agent then needs Letters or one of the affidavits MHV lists.1
- Wills, probate and small estates
MHV cannot accept the deceased person's will as verification of a fiduciary's authority to act. It accepts Letters Testamentary, Letters of Administration, an Affidavit of Heirship or a Survivor's Affidavit.1
- Membership
If the deceased person was not an MHV member, the executor may still open an estate account provided all beneficiaries or heirs of the estate are members. The executor does not need to be a member or eligible for membership.1
- Dormant and unclaimed accounts
The fee schedule charges $5 a month once an account has been inactive 24 months, and again as dormant at 36 months.3
- Fees
The fee schedule charges $2 a month where the Tax ID Number on an account is invalid or missing.3
Not in MHV FCU's published guidance1
- How long a claim takes
Sources3
- 1.Settlement of Decedent's Accounts
- 2.Notarized Statement
- 3.Fee schedule, effective March 10, 2025
MHV FCU's Support Services can be reached by phone at 1-800-451-8373 for questions throughout the claims process.
Sources
Data sourced from MHV FCU primary sources (15 pages reviewed). How we research.
MHV FCU death claims support
Support Services (decedent account settlement)
Phone
Toll-free
Hours
Mailing address
Website
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