How to name beneficiaries and fund a trust at Redstone FCU
Covers 13 deposit, 3 retirement, 3 investment, and 1 insurance accounts — beneficiaries must be updated in-branch
Member Support
Redstone Federal Credit Union, 220 Wynn Drive, Huntsville, AL 35893-0001
Wealth Management at Redstone Federal Credit Union (WMRFCU), through LPL Financial - investment and IRA accounts
Member Support Services (deceased member accounts); Mortgage Loan Servicing handles Successor in Interest requests on Redstone mortgages
Redstone Federal Credit Union, Attn: Member Support Services, 220 Wynn Drive, Huntsville, AL 35893-0001
Preparing your Redstone FCU accounts for estate transfer involves two key steps: designating beneficiaries on each account and, where appropriate, retitling accounts into a trust. Because Redstone FCU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Accounts with Payable on Death designations or trust ownership bypass probate entirely.
Redstone 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.
- Full name, date of birth, Social Security number, and relationship
- Designate primary and contingent beneficiaries
- Specify percentage allocation if naming multiple beneficiaries (equal distribution by default)
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- POD designations are available on deposit accounts (checking, savings, certificates, money market). POD does not apply to IRAs, which carry their own IRA beneficiary designation
- Online beneficiary designation is not available; use a branch, phone, or mail
- Multiple POD beneficiaries each take an equal share (balance divided by the number of beneficiaries) and own it with NO right of survivorship among them - if one beneficiary predeceases you, that share does not roll to the others
- Redstone puts the duty to police your designations on you: it is your responsibility (not the credit union's) to tell a person they are a POD beneficiary, and to notify Redstone and change the account if a POD beneficiary dies before you
- A POD designation on a JOINT account is void the moment a joint owner survives you - the account is closed, the survivor must open a new account under a new number, and any POD payees must be named again on that new account
- Investment account beneficiaries are handled separately through WMRFCU and LPL Financial (representatives are licensed in AL and TN only)
Sources
Data sourced from Redstone FCU primary sources (24 pages reviewed). How we research.
Download these Redstone FCU instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Redstone FCU primary sources. Bring it to the branch or keep it beside the phone.
Member Support
Redstone Federal Credit Union, 220 Wynn Drive, Huntsville, AL 35893-0001
Wealth Management at Redstone Federal Credit Union (WMRFCU), through LPL Financial - investment and IRA accounts
Member Support Services (deceased member accounts); Mortgage Loan Servicing handles Successor in Interest requests on Redstone mortgages
Redstone Federal Credit Union, Attn: Member Support Services, 220 Wynn Drive, Huntsville, AL 35893-0001
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