What to do when a MSUFCU account holder dies

They can. Section 22 of the Membership and Account Agreement gives MSUFCU a lien and a right of offset on funds in any account the member owned — regardless of where the money in it came from — to pay any debt owed to the credit union, and it excludes only IRAs and HSAs from that reach. Separately, Section 11 of the MSUFCU Visa Credit Card Agreement makes the cardholder's death an event of default, which makes the entire card balance due and payable immediately. In practice that means the deposit balances an executor is counting on can be reduced by the decedent's MSUFCU loan and card debt before any distribution, while the IRA and HSA balances stay out of reach of that offset.

Where the estate qualifies, yes. Michigan's Affidavit of Decedent's Successor (SCAO form PC 598, MCL 700.3983) lets a successor collect a decedent's personal property — a credit union account included — without a personal representative, when the estate's value does not exceed the statutory limit, which for 2026 is $53,000 (the base $50,000 set by 2024 PA 1, adjusted for inflation under MCL 700.1210). The affidavit reaches personal property only, and it cannot be signed until 28 days after death. Bring the completed affidavit, a certified death certificate, and your photo ID to a branch, or mail them to MSUFCU ATTN: Specialty and Support Services, PO Box 1208, East Lansing, MI 48826-1208. Above the limit, MSUFCU will look for Letters of Personal Representative from the probate court. Consult a licensed attorney for legal questions about whether an estate qualifies.

Section 7 of the Membership and Account Agreement answers both. If more than one POD payee is named, the account passes to all of them WITHOUT rights of survivorship — each payee takes their own share, and the share of a payee who died first does not automatically roll to the survivors. If no named payee is living when the last surviving owner dies, the whole account becomes part of the owner's estate and goes through probate. The will cannot fix a stale designation: Section 35 states the member irrevocably waives the right to make a testamentary disposition of any MSUFCU account, so the account is payable per the designations on file, not per the will. Note also that IRAs are excluded from POD designations entirely — IRA beneficiaries live on a separate form.

Two MSUFCU-specific things govern this. First, Section 8 of the Membership and Account Agreement states that trust and other entity accounts run under a SEPARATE account agreement — the ordinary membership terms do not apply — so the successor trustee should read the trust account agreement itself rather than the general one, and Section 30 lets MSUFCU decline instructions, require an indemnity, or ask for a bond if a trustee's directions could expose it to a claim. Second, membership follows the account: MSUFCU's field of membership is anyone who lives, works, worships, attends school, or owns a business in Michigan, plus the MSU and Oakland University communities and select employee groups, so a successor trustee outside that field should confirm with Specialty and Support Services (517-333-2424) that they can hold the account before the trust has to move into their hands. Members Trust Company, MSUFCU's trust partner, can administer or settle the trust as trustee or co-trustee (517-333-2424 ext. 7280).