What to do when a Peak CU account holder dies
Report the death to Peak CU at 1-800-258-3115
Peak CU operates under a new nameRebranded
TwinStar Credit Union and Northwest Community Credit Union were united under the Peak Credit Union brand in 2025. The twinstarcu.com and nwcu.com addresses now lead to peakcu.org, and Peak’s routing number is 325181015.
Peak CU coordinates account transitions after a member's death. How each account is handled depends on its setup: POD and trust accounts transfer automatically, while solely-owned accounts typically require court authorization through Letters Testamentary or Letters of Administration.
The first step is contacting Peak CU with the account holder's full name, account numbers, and the death certificate in hand.
Deposit, investment & retirement accounts
Follow these steps to file a death claim with Peak CU:
Filing a claim
- Call Peak at (800) 258-3115. Peak notifies Minnesota Life Insurance Company, which assigns a claim number and sends claim documents to complete and return.
- For a death claim, provide a copy of the death certificate.
- Keep making loan payments until the claim decision is completed and communicated. Minnesota Life gives notice within 10 days of receiving the completed claim documents.
Required Documents
- A copy of the death certificate, for a Payment Protection death claim on a covered loan
- The claim documents Minnesota Life sends, for a Payment Protection death claim on a covered loan
- A signed Membership Application, to open an estate (fiduciary) account
- A valid Taxpayer Identification Number, to open an estate (fiduciary) account
What happens to each kind of account5
- Account in one name
On an individual account, the deceased owner’s interest passes, subject to applicable law, to the payable-on-death beneficiary or the decedent’s estate.1
- Joint account with survivorship
On a joint account, the deceased owner’s interest becomes the property of the surviving joint owners.1
- Payable-on-death account
Payable-on-death accounts pass to the surviving payable-on-death beneficiaries, jointly with rights of survivorship.1
- IRA
IRAs and Education Savings Accounts pass under their own separate beneficiary designation.1
- Fiduciary account
An executor, administrator or personal representative can hold estate funds in a fiduciary account at Peak. The estate is the sole owner and the fiduciary is the only party authorized to transact on it.1
State law on paying a balance without lettersOregon, Washington
- Oregon
ORS 723.466
Oregon law permits a credit union to pay from a deceased member's balance on an affidavit, without letters testamentary or letters of administration.ORS 723.466Verified Oct 3, 2026View source
Paid to: surviving spouse
Limit: $25,000 held at the institution and $25,000 in total from every holder
When: at any time after the death
Paid to: Oregon Health Authority or Department of Human Services (no surviving spouse; preferred claim under ORS 411.708, 411.795 or 416.350)
Limit: $25,000 held at the institution and $25,000 in total from every holder
When: not less than 46 days and no more than 75 days after the death
Paid to: surviving children 18 or older; else surviving parent(s); else surviving brothers and sisters 18 or older; else any other surviving heir
Limit: $25,000 held at the institution and $25,000 in total from every holder
When: not earlier than 76 days after the death; not earlier than 46 days after the death where the institution obtains prior verbal or written authorization from both the Oregon Health Authority and the Department of Human Services
Paid to: estate administrator of the State Treasurer (intestate, no known heirs)
Limit: $25,000 held at the institution and $25,000 in total from every holder
The section permits the payment. It does not require the credit union to make it. The section sets further conditions.
- Washington
RCW 30A.22.190(2)
Washington law permits a credit union to pay from a deceased member's balance on an affidavit, without letters testamentary or letters of administration.RCW 30A.22.190(2)Verified Oct 3, 2026View source
Limit: $2,500 held at the institution
Paid to: the surviving spouse, next of kin, funeral director, or other creditor who may appear to be entitled thereto
The section permits the payment. It does not require the credit union to make it. The section sets further conditions.
RCW 30A.22.190(1)
Washington law permits a credit union to pay from a deceased member's balance on an affidavit, without letters testamentary or letters of administration.RCW 30A.22.190(1)Verified Oct 3, 2026View source
Limit: The section sets no dollar limit.
Paid to: the surviving spouse (party to a community property agreement with the decedent that reaches the funds)
The section permits the payment. It does not require the credit union to make it. The section sets further conditions.
RCW 11.62.030
Washington law permits a credit union to pay from a deceased member's balance on an affidavit, without letters testamentary or letters of administration.RCW 11.62.030Verified Oct 3, 2026View source
Paid to: surviving spouse or surviving domestic partner
Limit: $1,000 held at the institution
The section permits the payment. It does not require the credit union to make it. The section sets further conditions.
Accounts handled elsewhere1
- Minnesota Life Insurance Company
Payment Protection claims on Peak loans, after Peak notifies it2
What Peak CU's agreement and guidance say6
- Telling the institution
Peak may continue to honor transfers, withdrawals, deposits and other transactions on the account until it learns of the death.1
- Payments after the death
After Peak learns of the death, it may pay checks or honor other payments or transfer orders the member authorized for ten days. That period ends if a person claiming an interest in the account instructs Peak to stop payment on the checks or other items.1
- Wills, probate and small estates
The agreement says the member waives the right to make a testamentary disposition of any Peak account. On the member’s death the account is payable under the account designations on file and the terms of the agreement.1
- Indemnity a claimant may have to give
Peak may require anyone who claims funds in the account after the death to indemnify it for losses from honoring that claim. It may refuse instructions it believes could expose it to claims, or require a bond.1
- Which state governs the account
The agreement is governed by Peak’s Bylaws, federal law, and the laws of Washington and of the state where the member resides.1
- Fees
The paper statement fee of $3 per month is waived on estate accounts.3
Not in Peak CU's published guidance1
- A procedure for reporting a death
Sources3
- 1.Membership and Account Agreement, D008 rev. 10.10.2025
- 2.Payment Protection help article
- 3.Consumer Fee Schedule, Effective 03/03/2025
Mortgage and home lending
Mortgages and home equity loans are liabilities, not assets. They do not have beneficiaries and cannot be retitled to a trust.
What happens to each kind of account1
- Loan
Peak’s Foreclosure Prevention page lists the options it may consider for a borrower who cannot afford the payments, including refinancing, a loan modification, forbearance, a sale, or a short sale.1
Federal law on calling a home loan after a death
These exemptions apply to a loan secured by residential real property containing less than five dwelling units.12 U.S.C. § 1701j-3(d); 12 CFR 191.5(b), 141.14Verified Oct 3, 2026View source
- A lender may not exercise a due-on-sale clause upon a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety.12 U.S.C. § 1701j-3(d)(3); 12 CFR 191.5(b)(1)(iii)Verified Oct 3, 2026View source
- A lender may not exercise a due-on-sale clause upon a transfer to a relative resulting from the death of a borrower.12 U.S.C. § 1701j-3(d)(5)Verified Oct 3, 2026View source
- A lender may not exercise a due-on-sale clause upon a transfer where the spouse or children of the borrower become an owner of the property.12 U.S.C. § 1701j-3(d)(6)Verified Oct 3, 2026View source
A federal regulation sets further conditions on these transfers.12 CFR 191.5(b)(1)(v)Verified Oct 3, 2026View source
Not in Peak CU's published guidance2
- A procedure for reporting a death
- A list of required documents
Sources1
- Peak notifies Minnesota Life Insurance Company, which assigns a claim number and sends claim documents to complete and return.
- For a death claim, provide a copy of the death certificate.
- Keep making payments on the line until the claim decision is completed and communicated.
- Minnesota Life gives notice within 10 days of receiving the completed claim documents whether the claim is approved, denied, or needs more information.
Required Documents
- A copy of the death certificate, for a Payment Protection death claim
Claims Contact
Phone: 1-800-258-3115
What happens to each kind of account1
Accounts handled elsewhere1
- Minnesota Life Customer Contact Center
Questions about an existing Payment Protection claim1, 2, 3
Phone: 1-800-328-9442
Frequently asked questions
Under Section I.23 of Peak's Membership and Account Agreement, Peak may continue to honor transactions until it learns of the member's death, and even after it learns of the death it may pay checks and honor other payments or transfer orders the member authorized for a period of ten (10) days. That ten-day window stops only if a person claiming an interest in the account instructs Peak to stop payment on those items. If outstanding checks or automatic payments should not clear, ask for a stop payment at the same time you give notice of the death. Section I.23 also allows Peak to require anyone who claims funds after the member's death to indemnify the credit union against losses from honoring the claim.
No. Section I.23 of Peak's Membership and Account Agreement states that you irrevocably waive the right to make a testamentary disposition of any account with the credit union, and that on your death the account is payable according to the account designations on file. A will cannot redirect a Peak account away from the named POD beneficiary or the surviving joint owner. Section I.5 also notes that a POD designation does not reach IRAs or Education Savings Accounts, which are governed by their own separate beneficiary designation, and that Peak has no obligation to notify a beneficiary that an account exists. Section I.2 warns that a POD or joint-survivorship designation may be invalidated once Peak receives notice of a marriage dissolution, so designations should be re-confirmed after a divorce.
Sources
Data sourced from Peak CU primary sources (30 pages reviewed). How we research.
Peak CU death claims support
Member Services
Phone
Local number
Outside the US
Credit Union Connection (telephone banking)
Bill Pay support
After hours lost or stolen Visa card
Account Solutions
Hours
Mailing address
Website
Death notifications go through general customer service.
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