How to name beneficiaries and fund a trust at SECU Maryland
Covers 6 deposit, 2 retirement, and 1 investment accounts — beneficiaries must be updated in-branch
SECU Maryland, P.O. Box 23896, Baltimore, MD 21298
SECU Maryland, P.O. Box 23896, Baltimore, MD 21298
Operations - Decedent Claims
Attn: Operations - Decedent Claims, PO Box 13025, Baltimore, MD 21203
The goal with your SECU Maryland accounts is to make sure every account has a transfer mechanism in place—either a POD beneficiary designation or trust ownership. Because SECU Maryland is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Accounts without either one will require probate, which means court involvement and delays for your family.
Each of SECU Maryland's 9 accounts has different rules for how it transfers at death. The sections below explain the options for each.
- Full name
- Date of birth
- Social Security number
- Relationship to account owner
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- POD beneficiary designations are available for Share Savings, Additional Savings, Money Manager, Advantage Money Manager, Total Checking, and Certificate accounts
- To add or remove a POD beneficiary, schedule an appointment at a Financial Center or the Virtual Financial Center
- Trusts can be named as POD beneficiaries on eligible deposit accounts; when a trust is named, it must be the sole beneficiary on that account
- Upon death of the last surviving owner, POD funds are distributed equally to designated beneficiaries after any open loans are satisfied
- Single owner accounts without POD designation distribute funds to the estate through probate
- IRA beneficiary designations are handled on a separate form; IRAs are Payable on Death accounts by default
- POD payee or trust beneficiary designations do not apply to IRAs (per Membership Agreement)
- Beneficiary designations must be updated individually per account
Sources
Data sourced from SECU Maryland primary sources (18 pages reviewed). How we research.
Download these SECU Maryland instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against SECU Maryland primary sources. Bring it to the branch or keep it beside the phone.
SECU Maryland, P.O. Box 23896, Baltimore, MD 21298
SECU Maryland, P.O. Box 23896, Baltimore, MD 21298
Operations - Decedent Claims
Attn: Operations - Decedent Claims, PO Box 13025, Baltimore, MD 21203
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