Estate planning at Summit CU
How to protect 18 Summit CU accounts — manage beneficiaries in-branch, fund a trust in-branch, and file death claims
Summit Credit Union, P.O. Box 8046, Madison, WI 53708-8046
Summit Credit Union, P.O. Box 8046, Madison, WI 53708-8046
Decedent Specialist
Summit Credit Union, P.O. Box 8046, Madison, WI 53708-8046
Summit CU is a credit union offering 18 accounts that interact with estate planning in different ways. As a membership-based credit union, Summit CU operations throughout Wisconsin with 58 branch locations in Madison, Milwaukee, Green Bay, and communities across the state. Open membership -- anyone can join Summit Credit Union regardless of where they live or work. Once a member, membership is retained for life even if you move. Approximately 932 employees. Headquartered at 1709 Landmark Dr., Cottage Grove, WI 53527. Understanding how each account transfers at death—and which ones a trust can hold—helps families avoid probate delays and unintended outcomes.
At Summit CU, beneficiary designations are managed in branch, by mail, and by phone. Accounts can also be retitled into a trust to keep them out of probate entirely.
Summit CU provides specific procedures for both proactive estate planning and filing claims after a death.
Preparing your estate
Beneficiaries and trust funding
How to update beneficiaries in-branch, fund a trust in-branch, and review 18 account types at Summit CU.
View details →When someone dies
Death claim process
4-step process, 5 required documents, and contact information for survivors.
View details →Summit CU operates in select states, so estate planning procedures may vary by location. Confirm availability in your state before initiating trust funding or account changes.
Frequently asked questions
Summit facilitates trust account arrangements for revocable and irrevocable trusts. To open or retitle an account in trust, visit a branch with the full trust agreement or Certificate of Trust, government-issued ID for all trustees, and the trust EIN (or grantor SSN for revocable trusts). Trust accounts receive separate NCUA coverage up to $250,000 per qualifying beneficiary, which can substantially increase coverage for accounts with multiple beneficiaries. Summit does not provide legal advice on trust structuring. Contact 608-243-5000 for details.
The Certificate Plus is a flexible certificate that allows additional deposits during the term, unlike a standard Certificate where the balance is fixed at opening. Both types earn competitive rates with dividends compounded and credited monthly. Standard Certificates require a $500 minimum and offer terms from 3 months to 5 years. Certificates can be started as or transferred to IRA Certificates later, penalty-free.
Sources
Data sourced from Summit CU primary sources (15 pages reviewed). How we research.
Summit Credit Union, P.O. Box 8046, Madison, WI 53708-8046
Summit Credit Union, P.O. Box 8046, Madison, WI 53708-8046
Decedent Specialist
Summit Credit Union, P.O. Box 8046, Madison, WI 53708-8046
Estate planning articles
Learn how to protect your Summit CU accounts and other assets with trusts, beneficiary designations, and estate planning documents.
