What to do when a Rockland FCU account holder dies
Report the death to Rockland FCU at 1-800-562-7328
After a member of Rockland FCU dies, Rockland FCU manages the transfer of accounts. POD-designated and trust-owned accounts pass directly to beneficiaries. Accounts held solely in the member's name may require probate court documents—Letters Testamentary or Letters of Administration—before funds can be released.
The first step is contacting Rockland FCU with the account holder's full name, account numbers, and the death certificate in hand.
Death claim process
To file a claim after an account holder's death, here is what Rockland FCU requires:
Filing a claim
What happens to each kind of account5
- Account in one name
An individual account with no designation passes to the account owner's estate, subject to applicable law.1
The bylaws allow the share account of a deceased member, other than one held in joint tenancy with another member, to be continued until the close of the dividend period in which administration of the estate is completed.2
- Joint account with survivorship
Unless the Member Services Request or online application says otherwise, all sums pass to the surviving owner or owners, subject to the credit union's statutory lien for the deceased owner's obligations.1
- Payable-on-death account
An account with a payable-on-death or trust account designation is payable to all surviving beneficiaries or payees, in equal shares without rights of survivorship when there is more than one.1
- Custodial account (UTMA/UGMA)
If the custodian of a UTMA account dies, the credit union may suspend the account until it receives instructions from a person authorized by law to withdraw funds or a court order.1
- IRA
Payable-on-death and trust designations do not apply to IRAs.1
What Rockland FCU's agreement and guidance say5
- Payments after the death
The credit union may honor transfers, withdrawals, deposits and other transactions until it knows of the member's death.1
Even after it knows, it may pay checks or drafts drawn on the deceased member's account for ten days after the death, unless a person claiming an interest in the account instructs it to stop payment.1
- Indemnity a claimant may have to give
The credit union may require anyone claiming funds from a deceased owner's account to indemnify it for losses it sustains by honoring the claim.1
- Deposits after the death
If the credit union must return a directly deposited federal benefit payment to the U.S. Government, it may deduct the amount from any of the member's accounts, unless prohibited by law.1
- Holds and legal process
The agreement lets the credit union delay a withdrawal when required documentation has not been presented.1
- Disputes between claimants
The agreement lets the credit union suspend or terminate an account when there is a dispute about its ownership.1
Not in Rockland FCU's published guidance2
- A claim form
- A list of required documents
Sources
Data sourced from Rockland FCU primary sources (34 pages reviewed). How we research.
Rockland FCU death claims support
Member Solutions Center
Phone
Member Service Center (local)
Hours
Mailing address
Website
Death notifications go through general customer service.
Estate planning articles
Learn how to protect your Rockland FCU accounts and other assets with trusts, beneficiary designations, and estate planning documents.
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Get a complete guide for your specific circumstances.
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