What to do when a SECU Maryland account holder dies
Report the death to SECU Maryland's Operations Department - Decedent Claims at 1-855-308-1237
After a member of SECU Maryland dies, the Operations Department - Decedent Claims 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.
To start a claim, contact SECU Maryland by phone at 1-855-308-1237 or email documentation to DecedentClaims@secumd.com. You will need the account holder's full name, account numbers, and the death certificate.
Death claim process
The death claim process at SECU Maryland works as follows:
Filing a claim
- Certified copy of the death certificate (required)
- Photo ID (required for claimants and/or estate representatives)
- The deceased member's SECU account number(s)
- Any applicable court papers, such as the appointment of an executor or personal representative, letters testamentary, or letters of administration
Required Documents
- Certified copy of the death certificateSECU lists it as required.
- Photo ID, for claimants and estate representatives
- The deceased member's SECU account number(s)
- Court papers, where applicableSuch as the appointment of an executor or personal representative, letters testamentary, or letters of administration.
- Employer Identification Number (EIN) for the estate, to open an estate accountThe EIN comes from the IRS.
What happens to each kind of account7
- Account in one name
A single-owner account with no designated payable-on-death payee is closed. The remaining funds are distributed to the estate once any open loans have been satisfied.1
- Payable-on-death account
A single-owner account with designated payable-on-death payees is closed. The remaining funds are distributed equally to the payees once any open loans have been satisfied.1
- Joint account with survivorship
SECU's guide says a joint owner deposit account remains open until SECU receives all proper documentation. The surviving joint owner can continue to use the account, which is eventually closed or retitled in the survivor's name.1
Section 3(a) of the Membership and Account Agreement says that when the owner under whose Social Security number the account was established dies, the account is closed once SECU is notified and the balance is divided equally among the surviving owners by separate checks.2
- Certificate of deposit
For a certificate with a joint owner, the survivor may move the funds "as is" into a new certificate with the same rate and maturity date, or cash in the certificate without penalty.1
- IRA
IRA funds are placed into an Inherited IRA under each beneficiary's name and tax identification number, and SECU mails a Beneficiary Packet.1
- Loan
SECU determines whether the member had voluntary payment protection and, if qualified, applies the proceeds to the loan balance as of the date of death. Surviving borrowers or the member's estate are responsible for any remaining balance.1
For a single-borrower mortgage or home equity loan, the executor of the estate contacts SECU. A co-borrower on a real estate loan is asked whether to become the primary borrower.1
- Credit card
A sole-borrower credit card is closed and no interest accrues on the date-of-death balance. A co-borrower's card can stay open and be retitled.1
Accounts handled elsewhere2
- SECU Business Services
A deceased member's business accounts or commercial real estate loans1
Phone: 1-800-879-7328
- SECU Default Management
Loan payment difficulty, or surrendering property1
Phone: 1-855-308-1235
What SECU Maryland's agreement and guidance say7
- What it does when notified
SECU bill pay payments are discontinued, and debit and ATM cards are deactivated.1
- Payments after the death
On individual accounts, automatic transfers in or out are not processed. On joint accounts they continue.1
- Deposits after the death
Direct deposits in the deceased member's name received after the date of death are returned. SECU's guide says federal payments received in the member's name after the date of death must be returned to the U.S. Treasury and are subject to reclamation.1
- Debts owed to the institution
Deposit account balances may be applied to an outstanding loan balance.1
- Powers of attorney
A power of attorney held for the deceased member's account is void upon death.1
- What it says about taxes
SECU continues reporting to the IRS under the deceased member's Social Security number until the account is closed.1
- Who can get account information
A personal representative named in probate documentation is entitled to account information. Where the documentation names several personal representatives, some requests must be authorized by all of them.1
Not in SECU Maryland's published guidance1
- How long a claim takes
SECU Maryland's Operations Department - Decedent Claims can be reached by phone at 1-855-308-1237 and email at DecedentClaims@secumd.com for questions throughout the claims process.
Sources
Data sourced from SECU Maryland primary sources (26 pages reviewed). How we research.
SECU Maryland death claims support
Operations Department - Decedent Claims
Phone
Business Services
Default Management
Mailing address
Website
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