Estate planning at Teachers FCU
How to protect 14 Teachers FCU accounts — manage beneficiaries in-branch, fund a trust in-branch, and file death claims
Teachers Federal Credit Union, PO Box 9005, Smithtown, NY 11787-9005
Teachers Federal Credit Union, PO Box 9005, Smithtown, NY 11787-9005
Member Services (deceased member notification)
Teachers Federal Credit Union, PO Box 9005, Smithtown, NY 11787-9005
Teachers FCU offers 14 accounts, each with its own rules for what happens when a member dies. As a membership-based credit union, Teachers FCU nationwide open charter - membership is opened with a Regular Savings or Youth Savings account and a $1.00 minimum deposit. Founded by Long Island educators in 1952. 33 branches, concentrated on Long Island and the New York City area, plus Florida locations including Tampa. Over 467,000 members and $9.9 billion in assets per the credit union's About page. Branch hours: Monday-Thursday 9:00 AM-5:00 PM, Friday 9:00 AM-6:00 PM, Saturday 9:00 AM-2:00 PM ET; closed Sunday. Some transfer automatically to a named beneficiary, others can be held in a trust, and a few may require probate if no plan is in place.
Beneficiary changes at Teachers FCU can be made in branch, by mail, and by phone. Accounts can also be retitled into a trust to keep them out of probate entirely.
Teachers FCU 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 14 account types at Teachers FCU.
View details →When someone dies
Death claim process
5-step process, 8 required documents, and contact information for survivors.
View details →Frequently asked questions
No. The POD/trust-account designation paragraph in the Membership Account Agreement expressly does not apply to Individual Retirement Accounts. IRA beneficiaries are named on the IRA's own beneficiary designation, which you update through a branch or by calling 1-800-341-4333. An IRA also cannot be retitled into a revocable trust, though a trust can be named as the IRA's beneficiary. Teachers FCU acts as trustee of its retirement plan accounts.
Sources
Data sourced from Teachers FCU primary sources (16 pages reviewed). How we research.
Teachers Federal Credit Union, PO Box 9005, Smithtown, NY 11787-9005
Teachers Federal Credit Union, PO Box 9005, Smithtown, NY 11787-9005
Member Services (deceased member notification)
Teachers Federal Credit Union, PO Box 9005, Smithtown, NY 11787-9005
Estate planning articles
Learn how to protect your Teachers FCU accounts and other assets with trusts, beneficiary designations, and estate planning documents.
