What to do when a OCCU account holder dies
Contact OCCU — 5-step process, 7 required documents, and 5-10 business days after all documentation is received, though complex estates may take longer
OCCU, P.O. Box 77002, Springfield, OR 97475-0146
OCCU, P.O. Box 77002, Springfield, OR 97475-0146
Member Services / Estate Settlement
OCCU, P.O. Box 77002, Springfield, OR 97475-0146
When a member of OCCU passes away, the Member Services / Estate Settlement 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.
The first step is contacting OCCU at 1-800-365-1111 with the account holder's full name, account numbers, and a certified death certificate in hand.
Deposit, investment & retirement accounts
To file a claim after an account holder's death, here is what OCCU requires:
Filing a claim
- Certified copy of the death certificate
- Valid government-issued photo ID for the claimant
- For accounts with POD beneficiary: provide the death certificate and beneficiary ID to claim funds directly
- For joint accounts with right of survivorship: provide the death certificate; surviving owner retains access to the account
- For accounts without beneficiary or survivorship: obtain Letters Testamentary, Letters of Administration, or a Small Estate Affidavit from the court and provide along with the executor or administrator's ID
- For small deposits of $25,000 or less: OCCU may release funds on an ORS 723.466 affidavit without probate, in statutory priority order (surviving spouse first), no earlier than 46 days after the date of death
Required Documents
- Certified copy of the death certificate
- Valid government-issued photo ID for the claimant (beneficiary, executor, or administrator)
- Account information for the deceased (account numbers if available)
- For accounts without beneficiary: Letters Testamentary or Letters of Administration from the court
- For small estates: Small Estate Affidavit as permitted under Oregon law (ORS 114.515)
- For trust accounts: trust documentation including successor trustee provisions and trustee ID
- For IRA accounts: IRA beneficiary claim forms and applicable distribution election forms
What to know at this institution
Under OCCU's Membership and Account Agreement, OCCU may continue to honor all transfers, withdrawals, deposits, and other transactions until it learns of an owner's death; after the date of death it may pay checks or honor other payments or transfer orders authorized by the deceased member for a period of ten (10) days unless a person claiming an interest in the account instructs OCCU to stop payment. An individual account (including a living trust account) passes to the decedent's estate or the POD beneficiary; a joint account with right of survivorship passes to the surviving joint owner(s), while a joint account without right of survivorship passes to the estate. Because OCCU is a state-chartered credit union, small deposits may be released without probate under ORS 723.466: when the total deposits of the deceased member in all Oregon financial institutions do not exceed $25,000, OCCU may pay the funds on an affidavit, in statutory priority order (surviving spouse first), subject to a 46-day waiting period after death (and 76 days where the Oregon Health Authority / Department of Human Services may have a claim). Larger estates use the Oregon simple estate affidavit under ORS 114.515 (personal property up to $75,000; real property up to $200,000), which may not be filed until 30 days after death. A branch representative can help open an estate account to manage proceeds and pay estate obligations. OCCU accounts are insured by the NCUA for up to $250,000 per member.
Mortgage and home lending
Mortgages and home equity loans are liabilities, not assets. They do not have beneficiaries and cannot be retitled to a trust. When a borrower dies, the loan obligation transfers with the property to whoever inherits it. Under the federal Garn-St. Germain Act, the lender cannot accelerate the loan or call it due when the property transfers to a surviving spouse, child, or the borrower’s revocable trust.
- Deceased borrower's full legal name, Social Security number, and loan number
- Certified copy of the death certificate
- Continue making payments on the existing loan
- Apply for loss mitigation
- Assume the loan
- Refinance in your own name
- Pay off the remaining balance
Required Documents
- Certified copy of the death certificate
- Government-issued photo ID for the heir or personal representative
- Completed Successor in Interest form (obtained from OCCU mortgage servicing)
- Documentation proving ownership interest in the property: probated will, court order, recorded deed, or trust document showing you as successor trustee or beneficiary
- Letters Testamentary or Letters of Administration (if going through probate)
- Marriage certificate (if surviving spouse)
What to know at this institution
Under the federal Garn-St. Germain Depository Institutions Act (12 U.S.C. § 1701j-3), OCCU cannot enforce a due-on-sale clause when the property transfers to a surviving spouse, child, relative upon death, or the borrower's revocable living trust. Confirmed Successors in Interest are treated as borrowers under CFPB mortgage servicing rules.
Prepare your letter of instruction to OCCU
OCCU accepts a claimant-drafted letter of instruction. We draft it for you — addressed to OCCU's verified claims department, with the documents it requires enclosed.
Build your letter of instructionProcessing timelines at OCCU: 5-10 business days after all documentation is received, though complex estates may take longer. Incomplete documentation is the most common cause of delays—submitting all required documents with the initial claim helps avoid additional processing time.
Documentation required by OCCU includes Certified copy of the death certificate, Valid government-issued photo ID for the claimant (beneficiary, executor, or administrator), and Account information for the deceased (account numbers if available), along with additional paperwork that varies by account type. All death certificates and court documents must be certified copies.
Frequently asked questions
When an account holder with a POD (Payable on Death) designation dies, the named beneficiary can claim the account funds by visiting an OCCU branch with a certified copy of the death certificate and a valid government-issued photo ID. POD accounts bypass the probate process and pass directly to the named beneficiary.
Under Oregon Revised Statutes 114.515, an estate qualifies for a simple (small) estate affidavit if the fair market value of the decedent's personal property does not exceed $75,000 and the fair market value of real property does not exceed $200,000. The affidavit may not be filed until 30 days after death. When OCCU deposit balances and other personal property fall within the $75,000 threshold, heirs can present a filed small estate affidavit at an OCCU branch in place of full probate to claim the deceased member's accounts. For very small deposits (see the $25,000 credit-union affidavit FAQ), OCCU can pay directly under ORS 723.466 without any court filing.
Yes. Because OCCU is an Oregon-chartered credit union, ORS 723.466 lets it pay out a deceased member's deposits without probate or a court-filed affidavit when the member's total deposits in all Oregon financial institutions are $25,000 or less. A claimant signs an affidavit stating where and when the member died, that total deposits do not exceed $25,000, and their relationship to the member, and promising to pay last-illness, funeral, and other debts first. OCCU pays in statutory priority order (surviving spouse first, then adult children, parents, and siblings) no earlier than 46 days after the date of death.
OCCU's Member Services / Estate Settlement can be reached by phone at 1-800-365-1111 for questions throughout the claims process.
If the deceased held multiple OCCU accounts, each may require a separate claim or have different documentation requirements. The Member Services / Estate Settlement can confirm which accounts require individual attention and which can be processed together.
Sources
Data sourced from OCCU primary sources (20 pages reviewed). How we research.
OCCU, P.O. Box 77002, Springfield, OR 97475-0146
OCCU, P.O. Box 77002, Springfield, OR 97475-0146
Member Services / Estate Settlement
OCCU, P.O. Box 77002, Springfield, OR 97475-0146
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