How to name beneficiaries and fund a trust at New England FCU
Covers 9 deposit, 2 retirement, 1 investment, and 8 lending accounts — beneficiaries must be updated in-branch
Brand change
New England Federal Credit Union merged with Vermont State Employees Credit Union on January 1, 2023 and began operating as EastRise Credit Union on September 19, 2024. Same credit union, same member and account numbers; nefcu.com redirects to eastrise.com. All contacts and procedures on this page are EastRise's. Effective September 2024.
The procedures below reflect New England FCU's accounts. Account servicing may transfer as the change takes effect.
EastRise Credit Union Member Services
Written notices to the credit union: EastRise Credit Union, 141 Harvest Lane, P.O. Box 527, Williston, VT 05495. Deposit, loan, and mortgage payments: EastRise Credit Union, P.O. Box 527, Williston, VT 05495. Visa payments: EastRise Credit Union VISA Payments, P.O. Box 37603, Philadelphia, PA 19101.
EastRise Credit Union Member Services
Written notices to the credit union: EastRise Credit Union, 141 Harvest Lane, P.O. Box 527, Williston, VT 05495. Deposit, loan, and mortgage payments: EastRise Credit Union, P.O. Box 527, Williston, VT 05495. Visa payments: EastRise Credit Union VISA Payments, P.O. Box 37603, Philadelphia, PA 19101.
EastRise Member Services (EastRise publishes no separate estate or death-claims department; deceased-member claims are handled by member services and the branches)
EastRise Credit Union, 141 Harvest Lane, P.O. Box 527, Williston, VT 05495
The goal with your New England FCU accounts is to make sure every account has a transfer mechanism in place—either a POD beneficiary designation or trust ownership. Because New England FCU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Accounts without either one will require probate, which means court involvement and delays for your family.
New England FCU has 20 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.
- A separate form must be used for each account where account ownership differs
- All owners of the account must sign to designate an ITF/Totten Trust beneficiary
- The most recent designation supersedes every previous one — a new form wipes out the old beneficiaries, it does not add to them
- Attach additional pages (signed and dated) if you are naming more than two beneficiaries
- A beneficiary cannot be added to a business account unless the business is a sole proprietorship
- Individual beneficiary: name, date of birth, SSN/Tax ID, phone, relationship, address
- Organization beneficiary (a charity, for example): name, phone, Tax ID, contact name, address — EastRise recommends contacting the organization first so it can accept the funds
- The form has a checkbox to remove all current beneficiaries and add none
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Every owner of the account must sign the form
- The newest form supersedes all earlier designations on that account
- One form per account where ownership differs — the designation does not follow the member across accounts
- Per the Member Service Agreement, if two or more ITF/Totten Trust beneficiaries survive the death of all owners, the balance is divided equally between them
- Per the Member Service Agreement, a Totten Trust beneficiary can claim only after the final owner's death, on proof of death of all owners plus the beneficiary's ID
- Under Member Service Agreement Provision 4, because the member controls the account's ownership and survivorship features, the member "irrevocably waives the right to dispose of the funds in the account(s) with us by will" — a will cannot override this form
- Bylaws Article III, Section 6: when shares are issued in a trust, the name of the beneficiary must be stated in the trust
Sources
Data sourced from New England FCU primary sources (20 pages reviewed). How we research.
Download these New England FCU instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against New England FCU primary sources. Bring it to the branch or keep it beside the phone.
EastRise Credit Union Member Services
Written notices to the credit union: EastRise Credit Union, 141 Harvest Lane, P.O. Box 527, Williston, VT 05495. Deposit, loan, and mortgage payments: EastRise Credit Union, P.O. Box 527, Williston, VT 05495. Visa payments: EastRise Credit Union VISA Payments, P.O. Box 37603, Philadelphia, PA 19101.
EastRise Credit Union Member Services
Written notices to the credit union: EastRise Credit Union, 141 Harvest Lane, P.O. Box 527, Williston, VT 05495. Deposit, loan, and mortgage payments: EastRise Credit Union, P.O. Box 527, Williston, VT 05495. Visa payments: EastRise Credit Union VISA Payments, P.O. Box 37603, Philadelphia, PA 19101.
EastRise Member Services (EastRise publishes no separate estate or death-claims department; deceased-member claims are handled by member services and the branches)
EastRise Credit Union, 141 Harvest Lane, P.O. Box 527, Williston, VT 05495
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