Estate planning and settlement at Tower FCU
Report a death at 1-866-568-6937
How your Tower FCU accounts transfer at death depends on how each one is set up. With 29 account types, the transfer rules vary—getting the right designations in place now prevents delays and court involvement later.
To add or update beneficiaries at Tower FCU, account holders work through direct contact with the institution.
Tower FCU provides specific procedures for both proactive estate planning and filing claims after a death.
Beneficiaries and trust funding
How to review 29 account types at Tower FCU.
Preparing your estate →Death claim process
Report the death to Tower FCU's Member Case Settlement Department at 1-866-568-6937. The page lists the steps and the documents to send.
When someone dies →Tower FCU 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
Tower closes the IRA without a Tower Federal Credit Union penalty and distributes it to the designated beneficiaries. Each beneficiary receives a Beneficiary Payment Election form (Form 2321) by mail from Ascensus, PO Box 2917, Clinton, IA 52733-2917. The form offers five options: lump sum, transfer to the beneficiary's own IRA, transfer to an inherited IRA at another financial organization, an inherited IRA with scheduled payments at Tower, or an inherited IRA without scheduled payments at Tower. Tower distributes the assets by the option selected once it receives the form; 301-497-7000 handles questions about it. A POD or trust designation on a deposit account does not apply to an IRA, which carries its own beneficiary designation.
Sources
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Data sourced from Tower FCU primary sources (29 pages reviewed). How we research.
Tower FCU customer support
Member Service Center
Phone
Toll-free
Toll-Free (alternate)
Fraud Hotline (866-90-TOWER)
Lost/Stolen Credit Cards
Fax
Hours
Mailing address
Website
Estate planning articles
Learn how to protect your Tower FCU accounts and other assets with trusts, beneficiary designations, and estate planning documents.
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