How to name beneficiaries and fund a trust at St. Mary's CU
Covers 11 deposit, 3 retirement, 2 investment, and 1 insurance accounts — beneficiaries must be updated in-branch
Member Solutions Center
SMCU Processing Center, P.O. Box 4144, Woburn, MA 01888
Member Solutions Center
SMCU Processing Center, P.O. Box 4144, Woburn, MA 01888
Member Solutions Center
SMCU Processing Center, P.O. Box 4144, Woburn, MA 01888
Preparing your St. Mary's CU accounts for estate transfer involves two key steps: designating beneficiaries on each account and, where appropriate, retitling accounts into a trust. Because St. Mary's CU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Accounts with Payable on Death designations or trust ownership bypass probate entirely.
The transfer rules at St. Mary's CU vary across 17 accounts. Below is a breakdown of beneficiary options, trust funding, and which products support each method.
- Request a Payable on Death (POD) beneficiary designation form from a member service representative
- Provide beneficiary details: full legal name, date of birth, Social Security number, and relationship
- Designate primary and contingent beneficiaries
- Specify percentage allocation if naming multiple beneficiaries
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- POD designations available for deposit accounts (checking, savings, money market, certificates)
- Changes to beneficiaries can be made at any time by the account owner
- Investment account beneficiaries managed separately through Delano Financial Management / LPL Financial
- Annuity beneficiary designations managed through the issuing insurance company via LPL Financial
- St. Mary's CU cannot provide legal, tax, or estate planning advice
Sources
Data sourced from St. Mary's CU primary sources (19 pages reviewed). How we research.
Download these St. Mary's CU instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against St. Mary's CU primary sources. Bring it to the branch or keep it beside the phone.
Member Solutions Center
SMCU Processing Center, P.O. Box 4144, Woburn, MA 01888
Member Solutions Center
SMCU Processing Center, P.O. Box 4144, Woburn, MA 01888
Member Solutions Center
SMCU Processing Center, P.O. Box 4144, Woburn, MA 01888
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