How to name beneficiaries and fund a trust at TruWest CU
Covers 7 deposit, 3 retirement, and 9 lending accounts — beneficiaries must be updated in-branch
TruWest Credit Union Member Services
TruWest Credit Union, P.O. Box 3489, Scottsdale, AZ 85271
TruWest Credit Union Member Services (TruWest has no separate estate services department)
TruWest Credit Union, P.O. Box 3489, Scottsdale, AZ 85271
TruWest Credit Union Member Services (deceased-member accounts are handled by member services and branch staff; there is no dedicated claims unit)
TruWest Credit Union, P.O. Box 3489, Scottsdale, AZ 85271
Estate planning at TruWest CU means getting each account set up so it transfers automatically when you die—either through a POD beneficiary or trust ownership. Because TruWest CU is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Without one of these in place, accounts may require probate before your family can access the funds.
TruWest CU has 19 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.
- Each beneficiary's full legal name and identifying information
- Percentage allocations if naming multiple beneficiaries
- For IRA accounts, complete separate beneficiary designation paperwork
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Section 5 of TruWest's Membership & Account Agreement: a POD designation makes the account payable to the owners during their lifetimes and, when the LAST owner dies, payable to the named and surviving POD beneficiary
- If more than one POD beneficiary survives, they take the funds jointly in EQUAL SHARES WITHOUT rights of survivorship, unless state law provides otherwise or TruWest has separately documented a different split. Do not assume TruWest will honor unequal percentage allocations -- confirm in writing at the branch if you want an uneven split, or use a trust
- TruWest is not obligated to notify a POD beneficiary that the account exists or that their interest has vested, so tell your beneficiaries about the account
- A POD or trust beneficiary designation does NOT apply to IRAs -- IRAs are governed by a separate beneficiary designation, completed on separate paperwork
- Section 5 also does not apply to an account already held in the name of a trust created by a trust agreement; a titled trust account passes under the trust instead
- Joint account holders may need to agree on beneficiary designations
Sources
Data sourced from TruWest CU primary sources (21 pages reviewed). How we research.
Download these TruWest CU instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against TruWest CU primary sources. Bring it to the branch or keep it beside the phone.
TruWest Credit Union Member Services
TruWest Credit Union, P.O. Box 3489, Scottsdale, AZ 85271
TruWest Credit Union Member Services (TruWest has no separate estate services department)
TruWest Credit Union, P.O. Box 3489, Scottsdale, AZ 85271
TruWest Credit Union Member Services (deceased-member accounts are handled by member services and branch staff; there is no dedicated claims unit)
TruWest Credit Union, P.O. Box 3489, Scottsdale, AZ 85271
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