How to name beneficiaries and fund a trust at Third Federal
Covers 6 deposit, 2 retirement, 2 lending, and 1 insurance accounts — beneficiaries must be updated in-branch
Customer Care
Third Federal Savings & Loan, 7007 Broadway Ave., Cleveland, OH 44105
Customer Care
Third Federal Savings & Loan, 7007 Broadway Ave., Cleveland, OH 44105
Customer Care / Estate Support
Third Federal Savings & Loan, 7007 Broadway Ave., Cleveland, OH 44105
There are two ways to keep your Third Federal accounts out of probate: adding beneficiary designations and retitling eligible accounts into a revocable living trust. Which approach works best depends on the account type and your overall estate plan.
Third Federal has 11 product types, and the estate transfer rules differ across them. Some support Payable on Death (POD) designations, some can be retitled into a trust, and others will require probate if nothing is set up. Each is covered below.
- Find a branch at https://www.thirdfederal.com/locations — Third Federal has branches only in Ohio and Florida
- Third Federal calls the person you name the POD beneficiary, or Recipient Upon Death (RUD), on its records
- Bring each beneficiary's full legal name and identifying information
- The designation takes effect when Third Federal has it on its records — a POD named only in your will does not bind the bank
- On a multiple-party POD account, ALL POD owners must sign to change or delete a beneficiary, even though any single owner can deposit or withdraw
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Third Federal does not offer online beneficiary management — POD changes are made by phone or at a branch
- On a multiple-party POD account, every POD owner must sign to change or remove a beneficiary (any one owner can deposit or withdraw, but not change beneficiaries alone)
- Funds are not available to the beneficiary until the death of ALL POD owners; if no beneficiary survives the owners, the money goes to the estate of the last surviving owner and through probate
- A POD designation made on a NOW account (Interest Checking, Online Savings Plus) by a Florida resident at a Florida branch is governed by Florida law, including Fla. Stat. section 655.82
- Third Federal expressly refuses tenants-by-the-entireties titling on Florida joint accounts between spouses — a Florida couple relying on entireties protection should confirm the account's actual titling
- IRA beneficiaries are set on the IRA agreement; a deposit-account POD form has no effect on an IRA
Sources
Data sourced from Third Federal primary sources (15 pages reviewed). How we research.
Download these Third Federal instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Third Federal primary sources. Bring it to the branch or keep it beside the phone.
Customer Care
Third Federal Savings & Loan, 7007 Broadway Ave., Cleveland, OH 44105
Customer Care
Third Federal Savings & Loan, 7007 Broadway Ave., Cleveland, OH 44105
Customer Care / Estate Support
Third Federal Savings & Loan, 7007 Broadway Ave., Cleveland, OH 44105
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