How to name beneficiaries and fund a trust at Quorum FCU
Covers 7 deposit, and 2 retirement accounts — beneficiaries can be managed online
Member Services
Quorum Federal Credit Union, 2500 Westchester Avenue, Suite 113, Purchase, NY 10577
Member Services
Quorum Federal Credit Union, 2500 Westchester Avenue, Suite 113, Purchase, NY 10577
Operations
Quorum Federal Credit Union, 2500 Westchester Avenue, Suite 411, Purchase, NY 10577, Attention: Operations
Estate planning at Quorum FCU means getting each account set up so it transfers automatically when you die—either through a POD beneficiary or trust ownership. Because Quorum FCU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Without one of these in place, accounts may require probate before your family can access the funds.
Quorum FCU offers 9 accounts, each with its own transfer rules. The sections below cover how to set up beneficiaries, fund a trust, and which products support each approach.
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- The standard Designation of Beneficiary form cannot be used for IRA Savings or IRA Term accounts; a separate IRA beneficiary form is required (call 800-874-5544 to obtain it)
- Social Security numbers are required for all beneficiaries
- A copy of the primary member's driver's license must accompany the signed form
- If no account suffix is indicated, the designation applies to all current accounts within the membership
- On the member's death Quorum pays the balance to the surviving beneficiary/beneficiaries (equally if more than one survives); if none survive, the balance is paid to the estate
Sources
Data sourced from Quorum FCU primary sources (5 pages reviewed). How we research.
Download these Quorum FCU instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Quorum FCU primary sources. Bring it to the branch or keep it beside the phone.
Member Services
Quorum Federal Credit Union, 2500 Westchester Avenue, Suite 113, Purchase, NY 10577
Member Services
Quorum Federal Credit Union, 2500 Westchester Avenue, Suite 113, Purchase, NY 10577
Operations
Quorum Federal Credit Union, 2500 Westchester Avenue, Suite 411, Purchase, NY 10577, Attention: Operations
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