What to do when a SECU account holder dies
Report the death to SECU's Member Services Support at 1-888-732-8562
The Member Services Support at SECU coordinates account transitions after a member's death. How each account is handled depends on its setup: POD and trust accounts transfer automatically, while solely-owned accounts typically require court authorization through Letters Testamentary or Letters of Administration.
Death claim process
To file a claim after an account holder's death, here is what SECU requires:
Filing a claim
- Individual account with no payable on death beneficiaries: death certificate, Clerk of Superior Court appointment documentation, and the appointed individual's identification and signature.
- Payable on death (POD) account: death certificate, and proper identification and instructions from all beneficiaries.
- Joint account with right of survivorship: death certificate and signatures from all surviving owners, which remove the decedent's name from the account.
- Account owned by a trust: death certificate and the trust document or certificate of trust naming the authorized signers.
Required Documents
- Death certificateSECU's chart lists a death certificate for every account ownership type. For a credit life insurance claim, a certified copy is used.
- Clerk of Superior Court documentation appointing a personal representative, for an account owned by one individual with no payable on death beneficiariesIt appoints a personal representative or other authorized individual. A will naming an executor is not enough on its own.
- Proper identification and signature from the authorized individual, for an account owned by one individual with no payable on death beneficiaries
- Proper identification and instructions from all beneficiaries, for a payable on death (POD) account
- Signatures from all surviving owners, for a joint account with right of survivorshipThey are required to remove the decedent's name from the account.
- Trust document or certificate of trust, for an account owned by a trustIt names the authorized signers.
- Certified copies of the death certificate and letters of appointment, for a member who resided outside North Carolina
- Affidavit for Out-of-State Decedent, for a member who resided outside North CarolinaThe personal representative completes it.
- Letters Testamentary, Letters of Administration, or Affidavit for Collection, to open an estate accountSECU helps determine whether the documentation is sufficient to open an estate account.
- Employer Identification Number (EIN) for the estate, to open an estate accountThe decedent's Social Security number cannot be used for estate accounts. SECU can help the personal representative obtain an EIN.
Forms SECU issues1
- SECU Life insurance claim form
Sent by the institution on request.1
What happens to each kind of account10
- Fiduciary account
Depending on the documentation the Clerk of Superior Court issues, the personal representative may be required to open an estate account.2
All personal representatives sign to open estate accounts, by mail if they cannot be in the branch together. After the accounts are opened, generally only one personal representative is required to perform transactions or close them.2
A person opening an estate account provides documentation of their appointment as fiduciary from the appropriate authority. SECU reserves the right to require additional documents and information.3
- Certificate of deposit
An estate closing the decedent's Share Term Certificates before maturity is not charged the early withdrawal penalty.2
- IRA
SECU's Tax-Advantaged Solutions department notifies the named IRA beneficiary by mail. Once the beneficiary presents the death certificate and signs an IRA Withdrawal Request form, the IRA is closed and distributed as instructed.2
An IRA with no named beneficiary is paid to the estate. Clerk of Superior Court documentation must be presented to close the account.2
- Loan
SECU determines whether the decedent's loans were covered by credit life insurance, and if so files a claim with a certified copy of the death certificate. A loan or credit card balance not covered should be paid from the decedent's estate.2
- Life insurance policy
To process a SECU Life insurance claim, SECU Life requires a completed claim form, a copy of the death certificate, and a photo ID of the beneficiary.1
- Joint account with survivorship
SECU's Account Rules and Regulations say that on the death of one joint owner the remaining funds "belong to the surviving joint owners", and that they "may be subject to collection by the personal representative of the decedent's estate."3
- Payable-on-death account
On the death of the last surviving owner, distribution to the beneficiaries is subject to SECU's review of documentation establishing the death and the beneficiaries' identity. With multiple beneficiaries, SECU may close the account and distribute equal shares to the beneficiaries then living.3
- Custodial account (UTMA/UGMA)
If a UTMA custodian dies and no successor custodian was designated, SECU may suspend withdrawals until it receives instructions from a person authorized by law or a court order. The custodian must notify SECU in writing of the minor's death.3
- Convenience account
The personal agent's authority on a personal agency account ends on the death of the last owner. The remaining money is released to POD beneficiaries, controlled by the will, or inherited by the heirs of the last owner to die.3
- Safe deposit box
After the lessee's death, a qualified person or the Clerk of Superior Court may access the box to complete an inventory, with two SECU employees as witnesses. The inventory goes to the Clerk, and the contents may be released to a qualified person.2
Accounts handled elsewhere1
- SECU Life
SECU Life insurance claims and claim forms1
Phone: 1-855-732-8467
What SECU's agreement and guidance say10
- Wills, probate and small estates
SECU will only accept official Clerk of Superior Court documentation that appoints a specific person to handle accounts or safe deposit boxes. A will naming an executor is not enough without that documentation.2
- Membership
An estate account can be opened if the decedent was a member at death or if all estate beneficiaries are current members. The personal representative does not have to be a member.2
A spouse who has not remarried is eligible for membership if the deceased spouse was a member, or eligible for membership, at the time of death.4
- Deposits after the death
Checks payable to the decedent should not be deposited to any account the decedent owned. They must be negotiated by someone authorized by the Clerk of Superior Court.2
Notify every institution paying direct deposits of the member's death. Depending on the paying institution, the estate may be entitled to the deposit amount.2
- Payments after the death
Automated payments from an individual account should be stopped, and the personal representative arranges for them to be discontinued or paid from other sources. On a joint account, the surviving owner decides whether they continue.2
- Debts owed to the institution
Funds on deposit as of the date of death may be pledged toward certain loans the decedent held.2
SECU's statutory lien, right of setoff and security interest survive the death of the account holder.3
- Dormant and unclaimed accounts
SECU's guide says accounts "should be closed or the decedent's name removed as soon as possible" and that unclaimed accounts "will eventually be escheated (surrendered) to the North Carolina Department of State Treasurer after five years of inactivity".2
- What it says about taxes
SECU continues to report earned interest to the IRS under the decedent's Social Security number.2
- Powers of attorney
SECU may continue to recognize an agent's authority under a power of attorney until it receives notice of the account holder's death and has had a reasonable time to act on it.3
- Indemnity a claimant may have to give
The account holder's estate agrees to hold SECU harmless for distributions made on notice of the death of the last surviving account holder, including against conflicting designations by will or trust.3
- Disputes between claimants
If SECU learns of a dispute among parties claiming an interest in an account, it may pay the funds to a court, require a court order or the parties' written agreement, or close the account and pay everyone with a claim.3
Not in SECU's published guidance5
- A mailing address for claim documents
- A fax number for claim documents
- An email address for claim documents
- An online way to report a death
- How long a claim takes
Sources4
- 1.Life Insurance
- 2.What To Do When a Loved One Dies, F-0030 3/2025
- 3.Account Rules and Regulations, B-0002 01/2026
- 4.Join SECU
SECU's Member Services Support can be reached by phone at 1-888-732-8562 for questions throughout the claims process.
Sources
Data sourced from SECU primary sources (32 pages reviewed). How we research.
SECU death claims support
Member Services Support
Phone
SECU Life (life insurance claims)
TTY
Hours
Website
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