How to designate beneficiaries at SCCU

The Payable-On-Death Designation form excludes IRAs.¹

The Payable-On-Death Designation form excludes trust accounts.¹

A designation applies only to the accounts listed on the form, not to other existing or future accounts.¹

Multiple surviving beneficiaries own the funds jointly in equal shares without rights of survivorship, unless state law provides otherwise or as permitted and documented by SCCU.²

A notary is required if the form is signed outside an SCCU branch. No notary is required when it is signed at an SCCU branch.¹

For payable-on-death accounts. Completed by the primary member. Available to download.¹

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A new designation automatically revokes any previous payable-on-death designation for the listed accounts, so all intended beneficiaries must be listed.¹

A designation can be changed or revoked at any time by completing a new form.¹

All joint accounts carry right of survivorship: when one owner dies, all sums pass to the surviving owners.²

The surviving owner's interest is subject to SCCU's statutory lien for the deceased owner's obligations and to any security interest or pledge the deceased owner granted.²