Estate planning at Patelco CU
How to protect 15 Patelco CU accounts — manage beneficiaries online, fund a trust in-branch, and file death claims
Patelco Credit Union, PO Box 2227, Merced, CA 95344
Patelco Credit Union, PO Box 2227, Merced, CA 95344
Dept. 110 - Specialized Accounts
Patelco Credit Union, ATTN: Dept. 110 - Specialized Accounts, 3 Park Place, Dublin, CA 94568
How your Patelco CU accounts transfer at death depends on how each one is set up. As a membership-based credit union, Patelco CU primarily serves Northern California. Membership available to those who live, work, worship, or attend school in Alameda, Contra Costa, El Dorado, Marin, Merced, Napa, Placer, Sacramento, San Francisco, San Joaquin, San Mateo, Santa Clara, Solano, Sonoma, Stanislaus, and Yolo counties, as well as the cities of Bakersfield, Eureka, McKinleyville, and Santa Cruz. Also open to students and alumni of UC Berkeley, San Francisco State University, or Cal State East Bay, and to members of the Financial Fitness Association. With 15 account types, the transfer rules vary—getting the right designations in place now prevents delays and court involvement later.
Beneficiary designations at Patelco CU can be managed online, in branch, and by mail, typically taking 10-15 minutes to complete. Trust funding is also available, allowing families to retitle accounts into the name of a revocable living trust.
Patelco CU provides specific procedures for both proactive estate planning and filing claims after a death.
Preparing your estate
Beneficiaries and trust funding
How to manage beneficiaries online, fund a trust in-branch, and review 15 account types at Patelco CU.
View details →When someone dies
Death claim process
5-step process, 6 required documents, and contact information for survivors.
View details →Because Patelco CU serves a limited number of states, procedures for trust funding and beneficiary changes may differ depending on your location. Verify availability before starting.
Frequently asked questions
Yes. Under the Member Handbook, POD beneficiaries are not allowed on UTMA accounts or fiduciary accounts. Patelco also warns members to consult a tax or legal advisor before designating POD beneficiaries on IRA accounts, because the decision can have significant tax consequences. Two more Patelco-specific mechanics matter: with multiple POD beneficiaries the proceeds are paid in equal shares unless the member specifies otherwise in writing, and Patelco follows only the most recent authorization on file, treating any omission from it as intentional. That means submitting a new Designation of Beneficiary form that leaves a previously named beneficiary off is read as removing that person, and if the new form names no one, Patelco assumes the share accounts pass to the estate.
Patelco accepts revocable and irrevocable trust accounts for eligible deposit products including checking, savings, money market, and share certificates. To retitle an existing account, visit any Patelco branch or call 800-358-8228 and bring the complete trust document or a Certification of Trust, government-issued photo ID for all trustees, and the trust tax identification number (TIN/EIN). An IRA cannot be retitled into a trust: instead, name the trust on the IRA Beneficiary Designation form at secure.patelco.org/forms/IRA_beneficiary.pdf, which states that it overrides all previous designations for that IRA, and mail it to Patelco Credit Union, 3 Park Place, Dublin, CA 94568 (IRA and new HSA forms go to Dublin, while other member forms go to PO Box 2227, Merced, CA 95344). Patelco members can also get 25% off a will or trust through its Trust and Will partnership at patelco.org/investments-and-insurance/investments/estate-planning.
Sources
Data sourced from Patelco CU primary sources (23 pages reviewed). How we research.
Patelco Credit Union, PO Box 2227, Merced, CA 95344
Patelco Credit Union, PO Box 2227, Merced, CA 95344
Dept. 110 - Specialized Accounts
Patelco Credit Union, ATTN: Dept. 110 - Specialized Accounts, 3 Park Place, Dublin, CA 94568
Estate planning articles
Learn how to protect your Patelco CU accounts and other assets with trusts, beneficiary designations, and estate planning documents.
